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Summary: For a client-centric practice, there is no more critical indicator of future success than the composition of its team. Thus, every advisory firm’s top priority should be acquiring, developing and retaining the best possible people, who in turn can provide the best possible service to their clients. In this context, advisors must ask themselves if women are adequately represented — at all levels — in the practice. Advisors who can honestly say yes will find that they are far better positioned for long-term growth than those who cannot.
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Summary: The growth of your firm relies on your strategic plan, your organizational structure and your human capital practices. Build your business strategy first, to get a clear understanding of what you want to deliver to clients. But then clarify your organizational structure to make sure you have the right people doing the right things.
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Summary: A social media strategy is the foundation of your firm's social media activities. It aligns day-to-day social networking tasks with objectives that support the overall business goals.The strategy doesn’t need to be complicated.
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Summary:When we ask owner-advisors why their firms aren't growing (or aren't growing faster), they invariably tell us, “We’re not getting out there enough. We need to network better and get more prospective clients in the door.” As it turns out, in the vast majority of cases we see, they are half right—and unfortunately, they usually focus on the wrong half.
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Summary: Social media has made the opinions of others even more important to our decision making and advisors should pay attention. Consumers used to depend mainly on two factors when making a buying decision: Prior preferences or marketing, according to a recent article in the Harvard Business Review. In the past a third factor, other people’s opinions, had been only a minor influence. But with the rise of social media, the opinions of others have become a dominant force in purchasing decisions. Research indicates that this is especially true for purchases that involve higher levels of service interactions
