Hopefully, you have noticed that I try to focus on non-traditional practice management strategies and tactics.  I have posted over 100 articles on our website since the beginning of the year and have not once talked about client segmentation.  I guess that it is acceptable to change this now. When I started this business back [...]

When you take you car in for a check-up, the common practice today is to hook it up to a computer to look for problems.  By identifying problems early, you can make minor repairs to correct the situation before they become serious and expensive to fix.   This is the first in a series of [...]

When I was writing Key Focus Areas for Building a Great Business, I discovered something really important about financial advisors: As a rule, advisors are not great at business development because they have not completely bought into the value proposition for their businesses. One of the reasons that I love writing these blogs is because [...]

I was contacted recently by a reader of my articles.  He explained that he found the whole process of coaching, consulting and practice management to be too intangible.   He did say, however, that by reading my articles, he could see that I focus on the Core Stabilizers of a successful business – the 20% [...]

Do you have a business plan?  If you are like most advisors the answer is “No”.  The problem with most business plans is that they don’t really help you to improve performance.   The problem is not the plan but the process that most people follow when developing their plans.  Planning should not be a once [...]

As I read articles written by other consultants and coaches for the financial advisor community, it is interesting to see how many of us have very different approaches and concepts.  Many of our concepts are based on our past experiences. My concepts are based on a very unique background.  I built a $120 million business [...]

I had a conversation yesterday with an advisor who read my blog “Building a $100 Million Business – Setting Your Goals”.  During our conversation, he told me that he had worked with a couple other coaches and had found that the experience was very disappointing.  He then asked me “How will my experience differ if [...]

By Bob Simpson Last week, I posted an article “Building a $100 Million Business – Setting Goals”.  Many of the concepts discussed in this article apply to businesses at any stage of development but the strategies and tactics to achieve the goals are quite different for a business that has achieved $100 million in assets [...]

The process of setting both personal and business goals is an important step in building a successful business.  If you do some research about the best ways to set goals, you will come across the SMART acronym.  SMART goals are: S – Specific M – Measurable A – Attainable R- Relevant T – Time Bound [...]

You are all familiar with the major trends that have taken place over the past few years: Increased use of technology Shift from a solo advisor model to a team-based model Shift from transactional to fee-based Shift from accumulation of assets to distribution of assets Shift from advisors managing assets to outsourcing investment management Shift [...]