Practice

Exit planning: Documenting the deal

(November 2007) Many advisors engaged in the process of buying or selling their book of business tend to focus exclusively on valuation and the final purchase price. In reality, the terms you negotiate and document, along with plans for managing client retention overall, are far more important and far more valuable. Once sellers and buyers […]

By Cindy Jenner Cowan |November 21, 2007

4 min read

Planning and Advice

Think big picture: Understanding real wealth management

(November 2007) In today’s financial landscape, determining wealth is tricky. You can tally up the value of investment assets, cash on hand and real estate, but is number crunching really the best way to figure out a client’s worth? Doug Nelson, a family business specialist, and a speaker at the Knowledge Bureau’s Distinguished Advisor Conference […]

By Bryan Borzykowski |November 16, 2007

5 min read

Planning and Advice

Steal this idea: Hire a relationship manager

Even the most superhuman assistant can't do it all

By Kate McCaffery |November 12, 2007

4 min read

Planning and Advice

Service audits, relationships and retention

Lost clients dramatically affect the bottom line

By Romana King |November 12, 2007

5 min read

Human resources in your practice — an inventory

(November 2007) Hiring a third party to meet the human resources needs of your practice is no simple task. Determining which areas you need help with is a good first step. For more like this, click here to read the most recent Strategic Coach column on Advisor.ca, entitled HR 101: Outsourcing. Skip to: Records and […]

4 min read

HR 101: Outsourcing your HR department

(November 2007) Alexandra McLean and Shannon Waller from The Strategic Coach examine your experiences and answer your questions about human resources and people management. Q. We are a small shop but we have decided to delegate our HR duties to a third party. Does it make sense for us to hire someone to handle our […]

3 min read

How the mini-budget affects you (A timely template letter for clients)

(November 2007) Be proactive with your clients. Show them that you are up to date on current affairs and how changes impact their financial situation. Send out this letter outlining how the recently announced federal “mini-budget” affects them and how they can save money in the future. Dear [Client’s name], On October 30, the federal […]

2 min read

Walk in the shoes of your best clients

(November 2007) Winston Churchill once stated, “if you mean to profit, learn to please.” It was his secret for a profitable and successful career — as British Prime Minister, orator, and celebrated author. Today it could be considered sage advice for advisors as well. Churchill makes it sound simple. Advisors can spend too much time […]

By Shawn O'Brien |October 29, 2007

5 min read

Exit planning: Bidding and final negotiations

(October 2007) You have invested a tremendous amount of time and effort to build your business and, most likely, you’d prefer to sell it to someone who will continue to make it successful. Having the right mindset, and list of appropriate considerations available while you review offers and negotiate, will help you find the right […]

5 min read