How to Build Your Financial Advisory Business and Sell It at a Profit / Edition 1

by Al Depman

Overview

Too many financial advisors simply closeshop when they decide to exitthe business—squandering 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 place

Building 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.

Use How to Build Your Financial AdvisoryBusiness and Sell It at a Profit to build yourbusiness into more than a simple means to apaycheck—and reap the rewards of your hardwork long after you choose to leave the firm.

Product Details

ISBN-13:	9780071621571
Publisher:	McGraw Hill LLC
Publication date:	07/13/2009
Pages:	352
Product dimensions:	6.20(w) x 9.10(h) x 1.30(d)

About the Author

Al Depman , CLU, ChFC, CMFC, BH,is the owner of Practice Management Consulting.He is best known for his “PracticeManagement Assessment Tool” and his articlesthat appear on Practicetools.net andMitchAnthony.com, where he is the residentbusiness-practice consultant. Depman servesas the national Practice Management Consultantfor Securian (Minnesota Life) and has alsoworked with advisors from Waddell & Reed,AIG, LPL, State Farm, Prudential, NY Life,Metropolitan, and many independents, as wellas from big brokerages, including MorganStanley and Merrill Lynch.

Table of Contents

Introduction
Part I: Why Practice Management Matters
Chapter 1: Bottling and Selling Your Genius: How to Increase the Value of Your Practice
Chapter 2: Enhancing Your Practice's Book Value

Part II: The Practice Lifecycle
Chapter 3: The Practice Lifecycle: An Overview
Chapter 4: The Formative Year
Chapter 5: The Developing Years
Chapter 6: The Emerging Years
Chapter 7: The Mature Practice
Chapter 8: The Prime Practice

Part III: The Eight Essential Business Systems
Chapter 9: Ensuring Your Practice is Transferable
Chapter 10: Client Acquisitions
Chapter 11: Client Management
Chapter 12: Sales
Chapter 13: Case Development
Chapter 14: Time Management
Chapter 15: Communication
Chapter 16: Education
Chapter 17: Financial Management

Part IV: The 4 Cornerstones of Change
Chapter 18: Overview
Chapter 19: Personal and Professional Vision
Chapter 20: The 3 Levels of Accountability
Chapter 21: The Business Environment
Chapter 22: Balance and Blending