How to Build Your Financial Advisory Business and Sell it at a Profit

by Depman, Al

• ISBN13: 9780071621571
• ISBN10: 0071621571
• Edition: 1st
• Format: Hardcover
• Copyright: 2009-08-03
• Publisher: McGraw-Hill Education

Summary

Too many financial advisors simply closeshop when they decide to exitthe businesssquandering untold goodwill andlegacy business.Why waste a great opportunity?By applying the advice of Al Depman, a.k.a."The Practice Doctor," you can transform yourfinancial services practice into a legacy-focusedbusiness that will add substantial wealth toyour retirement nest egg.How to Build YourFinancial Advisory Business and Sell It at a Profitwalks you through the steps of developing,managing, and growing a profitable practiceyou can sell for enhanced value or bequeathto family members.Depman guides you through the process offorming a sound plan for your financial servicesbusiness, including how to: Create a team of advocates inmarketing and administration Build a sophisticatedreferral process Develop sales and casedevelopmentsystems Write a best-practicesoperations manual Maximize new technology tostreamline operations Put a succession plan in placeBuilding a long-term business model is notjust good for your future. It will also makeyou happier and more profitable today. You'llbe able to spend more time with clients. You'llput more energy into finding new ones. You'llfocus more on referral sources. And someoneelse will do the grunt work.UseHow to Build Your Financial AdvisoryBusiness and Sell It at a Profitto build yourbusiness into more than a simple means to apaycheckand reap the rewards of your hardwork long after you choose to leave the firm.

Author Biography

Al Depman has advised many financial services professionals.and firms, including New York Life, Prudential, State Farm, Metropolitan, AIG,.and Morgan Stanley..

Table of Contents

Acknowledgments	p. ix
Introduction: What Do McDonald's and Practice Management Have in Common?	p. xi
Why Practice Management Matters
Bottling and Selling Your Genius: How to Increase the Value of Your Practice	p. 3
Enhancing Your Practice's Book Value	p. 12
Eight Business Systems
Transferability: An Overview of the Eight Business Systems	p. 23
Core Business System 1 Client Acquisition	p. 27
Core Business System 2 Client Management	p. 65
Core Business System 3 Sales Process	p. 93
Core Business System 4 Case Development	p. 131
Infrastructure Business System 5 Time Management	p. 159
Infrastructure Business System 6 Communication	p. 183
Infrastructure Business System 7 Education	p. 223
Infrastructure Business System 8 Financial Management	p. 263
Epilogue: On Balance and Blending	p. 311
Index	p. 319
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