Building Leverage and Capacity (eBook)

The Challenge of Growth

Rebecca Pomering, Mark C. Tibergien (Autoren)

eBook Download: EPUB

2010 | 1. Auflage
22 Seiten
Wiley (Verlag)
978-1-118-00658-0 (ISBN)

Infos

One of the most important strategies for a successful investment advisory or wealth management firm is how to manage growth and profits. Once an advisory firm begins to add any staff, it has started to accelerate its growth. It will need to monitor and measure performance, coach and counsel people, produce an increasing amount of revenue to cover the added overhead, and invest in more technology solutions, office space, and employee benefits. Author Mark Tibergien, named by Investment Advisor as one of the most influential people in the industry, provides a comprehensive analysis of: Managing the rising costs of an advisory firm Management and quality control Client satisfaction Training staff Filled with models, statistics, and case studies, this chapter from Practice Made Perfect looks at the client-service approach, infrastructure, and compensation techniques necessary for an advisory firm to grow into an elite practice.

Autor

Mark C. Tibergien was chairman of the Securities and Insurance Niche and a principal at Seattle-based Moss Adams LLP, the twelfth-largest accounting firm in the United States. Accounting Today has recognized Tibergien among its "100 Most Influential People" in the accounting profession, as well as "One of the 10 People to Know in Financial Planning." He writes a monthly column for Investment Advisor magazine and is coauthor of How to Value, Buy, or Sell a Financial-Advisory Practice. Tibergien is now CEO of Pershing Advisor Solutions. Rebecca Pomering is a principal with Moss Adams LLP, specializing in strategic-planning and compensation consulting to the financial-advisory industry. She is a certified senior professional of human resources and the head of Moss Adams's compensation consulting and benchmarking practice.

Inhalt

Preface.

Acknowledgments.

Introduction.

1 The Financial Advisory Business.

The View from Here.

2 Strategic Business Planning.

Defining the Direction.

3 Knowing Your Clients.

The Value of Surveys.

4 Building Leverage and Capacity.

The Challenge of Growth.

5 The Fulcrum of Strategy.

Human Capital.

6 The Care and Preening of Staff.

Professional Development.

7 The Payoff for the Firm.

Compensation Planning.

8 The Tools That Count.

Financial Management.

9 Income, Profit, Cash Flow.

(and Other Dirty Words).

10 Referrals and Joint Ventures.

The Search for Solutions.

Afterword.

Appendix.

Index.

Rezensionen

"A wealth of useful information. . . . Whether you plan to grow, or maintain a small practice, the insights Tibergien and Pomering provide will give you the necessary tools to manage your practice more effectively." (MorningstarAdvisor.com)

"We hired Mark in 2000 to take us through a planning process for
Accredited Investors, Inc. Since that time, our assets under
management have quintupled, our infrastructure and management
systems have been refined, our priorities have been modified, and
we are working with bigger and happier clients. We paid
thousands of dollars for his work and received a benefit far beyond
that. Now he and Rebecca have put many of their ideas into this
book. It's a gift to the planning profession."

--Ross Levin, CFP

President, Accredited Investors, Inc.

Author, The Wealth Management Index

"This is the book a lot of practitioners have been waiting for.
Mark and Rebecca are the foremost experts in this area, so
expectations are high. They exceeded my expectations by a wide
margin. Practice Made Perfect is loaded with
practical items as well as meaningful insights that will
surely help advisers become better businesspeople."

--Dan Moisand, CFP

Principal, Spraker, Fitzgerald, Tamayo & Moisand, LLC

"Mark Tibergien and Rebecca Pomering have served up a real treat
in Practice Made Perfect. I've known them both for quite a
while, as consultants to our firm and as two of the most respected
commentators on our profession's business management. I thought I
had heard it all. Not so. Mark and Rebecca offer many new
and important insights. Everybody in this business needs
to read this book."

--Tim Kochis, JD, MBA, CFP

CEO, Kochis Fitz Wealth Management

Author, Managing Concentrated Stock Wealth

"Most financial planners, including myself, start a practice
because we love the work. It doesn't take long to recognize that if
we want to be successful long-term, we have to build a
business. Building a business is what Practice Made
Perfect is all about. This book is not a "how to start" a
practice. Rather, it is a guide to taking your practice from
where it is today to where you want it to be tomorrow. A
must-read for practitioners who are serious about our
profession."

--Elaine E. Bedel, CFP

President, Bedel Financial Consulting, Inc.

"Mark and Rebecca are a dynamic duo--they are bright,
insightful, and able to get right to the heart of what is
important in managing and growing a financial-advisory
business. Practice Made Perfect is full of
practical advice and ideas that every serious financial
adviser should know to manage their business. Their
continued advice and this book are priceless."

--Greg Sullivan, CPA, CFP

President, Sullivan, Bruyette, Speros & Blayney, Inc.

"Practice Made Perfect is outstanding. Mark Tibergien and
Rebecca Pomering have captured the key strategic-planning issues
for financial advisers who are serious about making money with
their practices. The ideas offered in this book are worth many
times the cover price."

--John J. Bowen Jr.

Founder and CEO, CEG Worldwide, LLC

Produkt-Details

• Erscheint lt. Verlag: 21.12.2010
• Reihe/Serie: Wiley Global Finance Executive Select
• Reihe/Serie: Wiley Global Finance Executive Select
• Sprache: englisch
• Themenwelt: Sachbuch/Ratgeber ► Beruf / Finanzen / Recht / Wirtschaft ► Geld / Bank / Börse
• Themenwelt: Sachbuch/Ratgeber ► Gesundheit / Leben / Psychologie ► Lebenshilfe / Lebensführung
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Personal Finance / Financial Advising • Private Finanzen / Beratung
• ISBN-10: 1-118-00658-5 / 1118006585
• ISBN-13: 978-1-118-00658-0 / 9781118006580