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Summary: Mr. Hill wanted to know how this potential purchase fit in with their larger financial plan, so he met the couple at their home. He began the meeting by explaining that he typically takes an inventory of all of his clients' assets and liabilities to get a better sense of their whole financial picture--even if they're just inquiring about insurance.
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Summary: Want to cut your firm's costs? Creating more effective back-office operations can help yield significant savings, according to a study by Laserfiche -- an enterprise document management company that, conveniently, promises to help RIAs do just that.
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Summary: There’s no question that small-business owners benefit from sound wealth planning. But as advisors who serve entrepreneurs know, it’s a two-way street. Clients who launch and run companies frequently impart managerial wisdom that can improve a financial-advice practice. These clients often provide instruction without even meaning to, advisors say, serving either as role models or cautionary tales and offering lessons both practical and philosophical.
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Summary: Practice management expert, Beverly Flaxington, provides some time management tips to help advisors deal with disorganized staff. She affirms that some people can do more with less, but many people need a process and structure and someone to delegate to.
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Summary: Among other benefits, teaching offers pick-of-the-litter opportunities for hiring next-generation help, bolsters credibility with clients, and lets advisors practice explaining difficult financial concepts clearly. It also forces them to stay au courant with trends and innovations in the advice business.
