Posts Tagged: Growth Strategy

The 361-Day Challenge

Generally, advisers meet clients two to four times a year to engage, build trust, instill confidence, help solve problems and ultimately, earn the fees clients pay us. That means clients pay roughly $2,500 per meeting based on their annual fee. The overarching question is, in this age of “information at our fingertips,” are we doing…

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To Grow Through Acquisition, Sell Your Own Practice First

Over the last 11 years I’ve attended and participated in dozens of conferences and break-out sessions on the topic of M&A within the wealth management industry. When I am speaking or as a panel member, I often kick the session off with these questions: “By show of hands, how many buyers are in the audience?”…

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Avoiding Extinction in a Period of Change and Disruption

“It’s not the strongest of the species that survives, nor the most intelligent, but the ones most responsive to change.” – Charles Darwin Jurassic World is making a killing at the box office. Interesting to think about how such powerful and dynamic creatures simply died, while a mammal as seemingly unimpressive as the duck-billed platypus…

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Surviving Change at Warp Speed

“The speed of disruption will be brutal. Probably 40 percent of global enterprises won’t exist 10 years from now. Probably half the major players in high tech won’t exist in a meaningful way in 10 years.” -John Chambers, CEO of Cisco on CNBC Chambers calmly made these comments while being interviewed by the folks at…

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Secrets to Growth: The Difference Between a Racehorse and a Pack Mule

Most firms in our industry start their race like racehorses: dynamic, exciting and growing rapidly. But after a couple of decades, many firms begin to resemble a pack mule: stodgy, predictable and relatively stagnant. We have the unique perspective, having conducted analytical benchmarking reports for hundreds of independent firms of varying sizes and backgrounds over…

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Long-Term Greedy Versus Short-Term Greedy

Secrets of the super wealthy: Long-term greedy versus short-term greedy Even if you aren’t a fan of his music, how can you not be impressed by Andre “Dr. Dre” Young, the intrepid rapper and impresario who helped build and sell the headphone and music streaming service Beats Electronics to Apple recently? The company Jimmy Lovine…

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The Bottleneck

The Bottleneck: Overcoming the Success Paradox We meet with hundreds of financial services firms every year and routinely find that after 20 years of existence most of them have plateaued and now derive their growth from stock market performance and occasional referrals. Some are happily where they want to be, but more frequently, it has…

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