How to build your financial advisory business and sell it at a profit : creating, running, and cashing out of your practice

Too many financial advisors simply close shop when they decide to exitthe business—squandering untold goodwill and legacy business. Why waste a great opportunity? By applying the advice of Al Depman, a.k.a. “The Practice Doctor,” you can transform your financial services practice into a legacy-focused business that will add substantial wealth to your retirement nest egg. How to Build Your Financial Advisory Business and Sell It at a Profit walks you through the steps of developing, managing, and growing a profitable practice you can sell for enhanced value or bequeath to family members. Depman guides you through the process of forming a sound plan for your financial services business, including how to: Create a team of advocates in marketing and administration Build a sophisticated referral process Develop sales and casedevelopment systems Write a best-practices operations manual Maximize new technology to streamline operations Put a succession plan in place Building a long-term business model is not just good for your future. It will also make you happier and more profitable today. You’ll be able to spend more time with clients. You’llput more energy into finding new ones. You’ll focus more on referral sources. And someone else will do the grunt work. Use How to Build Your Financial Advisory Business and Sell It at a Profit to build your business into more than a simple means to a paycheck—and reap the rewards of your hard work long after you choose to leave the firm. 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 administrationBuild a sophisticatedreferral processDevelop sales and casedevelopmentsystemsWrite a best-practicesoperations manualMaximize new technology tostreamline operationsPut 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.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. Contents......Page 10 Acknowledgments......Page 12 Introduction: What Do McDonald’s and Practice Management Have in Common?......Page 14 Part I: Why Practice Management Matters......Page 24 1: Bottling and Selling Your Genius: How to Increase the Value of Your Practice......Page 26 2: Enhancing Your Practice’s Book Value......Page 35 Part II: Eight Business Systems......Page 44 3: Transferability: An Overview of the Eight Business Systems......Page 46 4: Core Business System 1: Client Acquisition......Page 50 5: Core Business System 2: Client Management......Page 88 6: Core Business System 3: Sales Process......Page 116 7: Core Business System 4: Case Development......Page 154 8: Infrastructure Business System 5: Time Management......Page 182 9: Infrastructure Business System 6: Communication......Page 206 10: Infrastructure Business System 7: Education......Page 246 11: Infrastructure Business System 8: Financial Management......Page 286 12: Epilogue: On Balance and Blending......Page 334 A......Page 342 B......Page 343 C......Page 344 F......Page 346 H......Page 347 M......Page 348 P......Page 349 S......Page 350 W......Page 351 The definitive guide for financial advisors on how to build a financial advisory practice so when they retire, they are in a position to cash out for top dollar