Deena Katz on Practice Management: For Financial Advisors, Planners, and Wealth Managers

by Katz, Deena B.

• ISBN13: 9781576600702
• ISBN10: 157660070X
• Format: Hardcover
• Copyright: 1999-09-01
• Publisher: John Wiley & Sons Inc

Summary

With the staggering growth of the financial planning industry, individual practitioners often face problems starting and then managing the growth of their businesses. The acknowledged authority on this subject, Deena B. Katz, CFP, defines practice management for both novice and seasoned professionals, including dealing with market changes, customer satisfaction, networking among other planners, technology, and administration. Topics include: how to identify a practice's unique value-added service; best forms of business organization; contingency and succession plans; to partner or not to partner; finding, motivating, and managing the best staff; hardware and software systems planners need; public relations; client relations; retention and building client loyalty; and an entire chapter of resources for financial advisers.

Author Biography

Deena B. Katz, CFP, has published extensively for magazines such as Financial Planning and Dow Jones Investment Advisor and has offered financial advice on such television programs as Good Morning America and CBS This Morning. President and partner at Evensky, Brown and Katz, she is a sought-after speaker for national and international legal and financial organizations and was the authority selected by Consumer Reports to evaluate the work of other financial planners. Fortune magazine's "1999 Investor's Guide" issue named her and her husband-partner, Harold Evensky, innovative "gurus" and described them as the most respected members of their profession.

Table of Contents

Foreword	xiii
Ross Levin
Introduction	1	(17)
SECTION ONE: THE BUSINESS	18	(50)
Determining Your Core Values, Mission, and Vision	21	(20)
Designing the Business	41	(16)
Contingency and Succession	57	(11)
SECTION TWO: THE PEOPLE	68	(62)
Adding a Partner for Fun and Profit	71	(18)
People Make It Happen	89	(22)
Staff Structure and Retreats	111	(19)
SECTION THREE: THE ENVIRONMENT	130	(64)
Hardware Makes It Happen Quickly	133	(16)
Software Makes It Happen Profitably	149	(20)
Systems Make It Happen Efficiently	169	(25)
SECTION FOUR: THE GROWING	194	(38)
Killing the Sacred Cows	197	(12)
Positioning and Public Relations	209	(12)
Transitioning Your Practice	221	(11)
SECTION FIVE: THE CLIENT	232	(62)
Hiring, Firing, and Refusing Clients	235	(10)
Retaining Desirable Clients	245	(26)
Gotta-Have-It Resources	271	(23)
Index	294