Building Leverage and Capacity

One of the most important strategies for a successful investment advisory or wealth management firm is how to manage growth and profits. Once an advisory firm begins to add any staff, it has started to accelerate its growth. It will need to monitor and measure performance, coach and counsel people, produce an increasing amount of revenue to cover the added overhead, and invest in more technology solutions, office space, and employee benefits. Author Mark Tibergien, named by Investment Advisor as one of the most influential people in the industry, provides a comprehensive analysis of:

• Managing the rising costs of an advisory firm
• Management and quality control
• Client satisfaction
• Training staff

Filled with models, statistics, and case studies, this chapter from Practice Made Perfect looks at the client-service approach, infrastructure, and compensation techniques necessary for an advisory firm to grow into an elite practice.