Description
When financial advisers need guidance on running their business, they turn to Mark Tibergien, the most prominent, most respected authority and hands-on consultant on the science and practice of managing financial advisory firms. Together with Moss Adams colleague and principal Rebecca Pomering, they have combined their years of research and analysis to write the definitive book on the subject.
The authors first identify how to assess the business and evaluate oneself as a manager. They then present strategic-thinking issues—such as practice models, business plans, and differentiators—in a Socratic style. This is followed by a detailed overview of critical topics, from financial management and human capital to IT and marketing—encompassing the management skills, approaches, and mindsets needed for success.
With management tools, worksheets, and industry statistics, Practice Made Perfect is the authoritative book from the industry's expert.
Table of Contents
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.
