I tried to manage 350 households by myself. What was I thinking?
You can’t blame clients for being scared. The last 12 years haven’t been fun.
I've noticed that every 3 to 5 years our industry goes through a fee debate but in the end nothing changes.
One of the greatest things about our industry is that we can all have different models to suit different clientele and our own beliefs and philosophies.
When I sat down with an affluent referral, I was stunned by how many advisors he was dealing with and the poor advice he had been receiving.
Last year I wrote an article about recession proofing your practice in case of a double dip…Here is an updated version of that article.
Running a financial planning practice is a wonderful thing, however, it is key to keep operating costs lean so you can make it through those difficult times. With that in mind, I put together a few tips on how to reduce operating costs so you can run an efficient practice.
I think doctors have a very tough job; they are overwhelmed with patients and are trying their best to keep up with demand. Imagine though if they could choose how to run their practice -- determine pricing, services, amount of clients, etc.
For over 15 years I was happily running my practice almost 100% off book, direct with fund companies. A little over a year ago, I made the switch from the MFDA to IIROC. Under the IIROC platform, it’s not really an option.
More and more clients are expecting advisors to add value to their relationship. As much as we think picking investment “ABC” over “XYZ’ is adding value, it just isn’t enough especially when markets tank. We as advisors have to include more not to be viewed as simply “investment salespersons".