"Think about those future goals."
"Hold steady and don't react to the market."
"Remember, we have a plan and it's still well on track."
Throughout the market roller coaster of the Pandemic and now with 2022 rearing its head, advisors are getting used to coaching clients through market volatility. What matters most in these scenarios are two things: first, a trusted relationship between advisor and client, and second, preparation and education to navigate these emerging challenges.
Topics: Succession Planning, Selling Your Practice, Business Value, Sustainability, Trends
Our summary of the independent advisory M&A market, including a look at real transaction data, context to help advisors understand what's driving the data, and an unbiased look at what's really going on out there.
Topics: Commentary, FP Transitions, M&A, Trends
Business growth is a never-ending, and ever-changing objective of all business owners; financial planners included. While the lingering social effects of the pandemic and the challenges of upscaling during the Great Resignation/ Reshuffle can make the task-at-hand seem insurmountable, there are still tangible ways that you can steer the course of your enterprise. Here are a few tips to help grow your financial planning business.
1. Invest in Human Capital
Most advisors have built their business from nothing into their single most valuable asset. Finding talent can be a challenge these days, especially with unemployment settling into lows not seen in over 50 years. Data from FP Transition's Valuation Database has indicated that businesses with multiple professionals accumulate assets at a higher rate than sole practitioners. As your business matures, it is imperative to invest in the next generation of talent, to keep the engine running while you begin to enjoy the reward for what you’ve built.
Topics: Acquisition, Multi-Generational Ownership, Business Growth, Tip of the Week, Revenue Strength, Enterprise Strength, Business Value, Buying & Selling, Next Generation, Talent Recruitment, Building Your Team, Client Trust, Business Operations, Trends
2021 is just about behind us, and 2022 is knocking at the door. What are the 2022 trends in the financial planning advisory space that we consult? We had an opportunity to ask our experts what they see in their respective crystal balls...
Topics: Selling Your Practice, Acquisition, Multi-Generational Ownership, M&A, Business Value, Deal Structure, Financing, Bank Financing, Buying & Selling, State of the Market, Mergers, Tax Regulations, Building Your Team, Valuation & Appraisal, Transactions, Trends