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Too many financial advisors simply close shop when they decide to exitthe business—squandering untold goodwill and legacy business. Why waste a great opportunity? By applying the advice of Al Depman, a.k.a. “The Practice Doctor,” you can transform your financial services practice into a legacy-focused business that will add substantial wealth to your retirement nest egg. How to Build Your Financial Advisory Business and Sell It at a Profit walks you through the steps of developing, managing, and growing a profitable practice you can sell for enhanced value or bequeath to family members. Depman guides you through the process of forming a sound plan for your financial services business, including how to: Create a team of advocates in marketing and administration Build a sophisticated referral process Develop sales and casedevelopment systems Write a best-practices operations manual Maximize new technology to streamline operations Put a succession plan in place Building a long-term business model is not just good for your future. It will also make you happier and more profitable today. You’ll be able to spend more time with clients. You’llput more energy into finding new ones. You’ll focus more on referral sources. And someone else will do the grunt work. Use How to Build Your Financial Advisory Business and Sell It at a Profit to build your business into more than a simple means to a paycheck—and reap the rewards of your hard work long after you choose to leave the firm.
What makes it so hard for people to do the right things with their money? Why do they frequently ignore sound financial advice? Grounded in the psychology of money and the science of non-adherence, this book equips financial professionals to deliver their advice more effectively.
The book explores the success factors for building ensemble firms and reviews some of the best practices for continued growth.
This book is going to challenge you and everything you think you know about succession planning. For independent advisors, succession planning is quickly becoming the cornerstone to a strategic growth strategy designed to perpetuate their business and their income streams beyond their own lifetime, while providing a multi-generational service platform that attracts and rewards younger advisors. This makes succession planning one of the most, if not the most, important practice management tools in this industry today. As an independent financial advisor, now is the time to address the question of what will happen to your practice and your clients after you “exit the building.” In most cases, the answers are right in front of you. Thankfully, Succession Planning for Financial Advisors: Building an Enduring Business has arrived to transform today’s practices into businesses designed to endure and prosper and serve generations of clients. Learn how to create a “Lifestyle Succession Plan” that can provide a lifetime of income and benefits to the founder even as he/she gradually retires on the job Unlock the power of equity management – the best planning and building tool an independent advisor owns Learn how to attract and retain the best of the next generation to help you build a great business and to support your succession plans and care for your clients and their families Determine precisely when to start a formal succession plan and related continuity plan so that your business can work for you when you need it most Understand why succession planning and selling your business are completely different strategies, but how they can complement each other when used correctly 95% of independent financial service professionals are one owner practices. To the positive, these practices are among the most valuable professional service models in America. But almost all advisors are assembling their practices using the wrong tools – tools borrowed from historically successful, but vastly different models including wirehouses, broker-dealers, and even OSJ’s and branch managers. Revenue sharing, commission splitting and other eat-what-you-kill compensation methods dominate the independent sector and virtually ensure that today’s independent practices, if left unchanged, will not survive the end of their founder’s career. It is time to change course and this book provides the map and the details to help you do just that. For independent practice owners and staff members, advisors who want to transition to independence, as well as accountants, attorneys, coaches and others involved in the financial services space, there are invaluable lessons to be learned from Succession Planning for Financial Advisors. Written by the leading succession planning expert in the financial services industry, former securities regulator, M&A specialist, and founder of the nationally recognized consulting and equity management firm, FP Transitions, David Grau Sr., JD, has created an unmatched resource that will have an enduring and resounding impact on an entire industry.
Other books have claimed to help readers build a lucrative financial services practice...but it was The Million-Dollar Financial Services Practice that provided ambitious financial advisors with a step-by-step, tactical process proven to work. The second edition is updated throughout and contains new strategies for acquiring affluent clients and assets by providing Wealth Management services, using social media and "Alumni Marketing," targeting successful realtors as clients, and much more. Using the method he has taught at Merrill Lynch and is famous for in the industry, author David J. Mullen, Jr. shows how anyone-no matter where they are in their career-can get the appointment, convert prospects to clients, build relationships, retain clients, use niche marketing successfully, and increase the products and services each client uses. Packed with templates, scripts, letters, and tried-and-true Market Action Plans, the book provides readers with the tools and guidance they need to take their financial services practice to the million-dollar level and beyond.
Are you ready to discover the secret to thriving in today’s fee-based financial services environment? The old transactional, sales-based approach is fast becoming defunct. The real key to outstanding success as a financial adviser is helping your clients get more of what they really want from life. John Dashfield shares a revolutionary new paradigm in psychology that clearly demonstrates that your state of mind is the most significant factor in creating a growing, prosperous and sustainable ‘Client-centred’ practice. This book will help you build exceptionally strong, high-trust and mutually profitable client relationships; conduct powerful client conversations; become comfortable and effective when discussing fees; effectively engage new clients and re-engage existing ones; eliminate stress and increase your everyday enjoyment and fulfilment.

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