One of the most important tasks independent advisors face is one that rarely finds its way to the top of the “To-Do”  list: Using business metrics as intelligence. While understanding your business metrics can make your firm significantly more productive and profitable, it is often easier said than done.

Even something as simple as measuring your firm’s asset growth as an independent advisor can be tricky. Do you know what factors are most responsible for asset growth? Is it your firm’s performance, bringing on new assets, existing clients making contributions, or simply a strong market? Worse yet, what if you are growing assets, but losing revenue? And how is your firm performing compared to other advisory firms? Especially in today’s economy, using this information to make strategic decisions will help strengthen your margins, and ensure that your firm is working smart.  Read More

Become More Efficient, Learn How and Why Technology  Integration Can Work For You

As investment advisors become more tech savvy, they increasingly rely on a wider variety of desktop and web-based applications to run their businesses. But what happens when two software packages at one business collide? And does the need to operate efficiently in an uncertain market make this issue even more critical?

Imagine this: In an effort to make life better for you and your staff, you upgrade to an enterprise-level CRM system. But just as your team is wondering how they ever lived without the latest and greatest CRM, you realize it doesn’t share data with your portfolio accounting software. Your critical systems will now require duplication of data entry and will likely never be in synch—not a great example of efficiency.  Read More

Key Metric Indicators You Should Be Using

One of the most important tasks independent advisors face is one that rarely finds its way to the top of the “To-Do” list: Using business metrics as intelligence. While understanding your business metrics can make your firm significantly more productive and profitable, it is often easier said than done.

Even something as simple as measuring your firm’s asset growth as an independent advisor can be tricky. Do you know what factors are most responsible for asset growth? Is it your firm’s performance, bringing on new assets, existing clients making contributions, or simply a strong market? Worse yet, what if you are growing assets, but losing revenue? And how is your firm performing compared to other advisory firms? Especially in today’s economy, using this information to make strategic decisions will help strengthen your margins, and ensure that your firm is working smart.

Read More