99% Of Financial Advisors Make This Mistake.

Are you building your advisory firm into something that will stand the test of time?

What I mean is, are you checking in on the health of your business regularly?

No, I don’t just mean looking at the numbers.

No, I don’t just mean checking in with your staff.

I mean really getting under the hood and seeing how long your engine can keep running the way it is?

Oftentimes, we neglect to look at our own businesses while things are going well.

The truth is that most advisors make this mistake: they think that just because their business appears to be doing well, everything is spit-spot and should continue on in kind forever ad infinitum for the rest of time.

Don’t get me wrong, I know you don’t actually believe nothing will ever go wrong. It’s just that it’s hard to picture if there aren’t obvious signs of decay apparent in the day to day.

Understandable. But wishful thinking didn’t get you where you are today, and it sure as heck won’t take you where you need to get to tomorrow.

To level up your advisory firm, you’ll need to take a look at some key performance indicators within the business and evaluate how you measure up to top-performing firms your size.

We call these the 8 Key Markers of Our Wellness Check.

  1. Strategy
  2. Staffing
  3. Profit and Loss
  4. Client Base
  5. Technology Choice & Integration
  6. Service Model(s)
  7. Operations
  8. Marketing

Each of these core components of your business has the ability to stifle overall growth and/or negatively impact another, so it’s important to identify where the weak links are.

Is it the engine?

Is it the drivers?

Is it the fuel?

Then you’ll know where to allocate your energy and your budget to make the most impactful changes.

Collecting the data and benchmarking the results is time-intensive. As an advisor, it’s obvious that your time is better spent elsewhere—but you’ll need the data to keep your business healthy and thriving.

*The Business Wellness Check Has Entered the Chat*

The Business Wellness Check is a one-time service we provide at The Strategic Implementer to give you the information you need to see how your business is doing.

Then, we can be hired to make the changes for you or give you our recommendations on how to DIY them.

Either way, the sooner you begin collecting data that lets you know how things are looking, the sooner you can get in there and turn things around.

Do yourself a favor and give us a call. We offer a complimentary call to discuss the process and help you decide if it’s right for you. At the very least, it’s likely you’ll walk away with a few tips about how to check in on some of these items yourself.

We look forward to chatting with you.