June’s Advisor’s Edge full of innovative tips to keep your practice afloat

(June 6, 2003) Have the past few years cast your practice adrift on a sea of uncertainty? Then the June issue of Advisor’s Edge is throwing you a lifeline with its cover story on how to grow your practice in today’s turbulent times.

“This article really addresses the issue of how to increase revenues and decrease the costs of your practice, while at the same time maintaining profitability,” says Deanne Gage, managing editor of Advisor’s Edge.

According to Gage, the “Staying Afloat” cover story on page 22 of the magazine features 10 practice-improving ideas that real advisors are currently implementing and using, ranging from drawing up a budget to relocating offices. “It’s very practical advice from successful advisors who are staying afloat — there’s at least one idea here for everybody,” notes Gage.

June’s cover story also features a fun but educational sidebar entitled “How to waste time,” a list of activities guaranteed to make your practice more inefficient.

Elsewhere in the magazine, the current issue features a case study examining pension buybacks, and a brand-new section called “Front End Load,” which is a miscellany of noteworthy items that includes a summary of financial services industry people on the move.

June’s issue also boasts the quarterly CanHedge pullout, which — among other things — examines how institutional managers do due diligence when constructing a fund of funds and takes a closer look at low-minimum hedge funds. “While hedge funds have a reputation as high-net-worth investments, what advisors may not know is that there are a variety of products available to retail investors for minimums as low as $500,” says Scot Blythe, editor of CanHedge.

In addition, CanHedge has two new features: a column where hedge fund managers answer questions about the industry, and a forum for advisors on how they approach hedge funds and apply them to client portfolios. “Hedge funds are relatively new for advisors and investors alike,” notes Blythe. “That’s why we introduced a feature where advisors can give their views on the uses of hedge funds.”

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Filed by John Craig, Advisor.ca, jcraig@advisor.ca.