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Building Leverage and Capacity: The Challenge of Growth

ISBN: 978-1-118-00658-0
21 pages
December 2010
Building Leverage and Capacity: The Challenge of Growth (1118006585) cover image


One of the most important strategies for a successful investment advisory or wealth management firm is how to manage growth and profits. Once an advisory firm begins to add any staff, it has started to accelerate its growth. It will need to monitor and measure performance, coach and counsel people, produce an increasing amount of revenue to cover the added overhead, and invest in more technology solutions, office space, and employee benefits. Author Mark Tibergien, named by Investment Advisor as one of the most influential people in the industry, provides a comprehensive analysis of:
  • Managing the rising costs of an advisory firm
  • Management and quality control
  • Client satisfaction
  • Training staff

Filled with models, statistics, and case studies, this chapter from Practice Made Perfect looks at the client-service approach, infrastructure, and compensation techniques necessary for an advisory firm to grow into an elite practice.

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Table of Contents




1 The Financial Advisory Business.
The View from Here.

2 Strategic Business Planning.
Defining the Direction.

3 Knowing Your Clients.
The Value of Surveys.

4 Building Leverage and Capacity.
The Challenge of Growth.

5 The Fulcrum of Strategy.
Human Capital.

6 The Care and Preening of Staff.
Professional Development.

7 The Payoff for the Firm.
Compensation Planning.

8 The Tools That Count.
Financial Management.

9 Income, Profit, Cash Flow.
(and Other Dirty Words).

10 Referrals and Joint Ventures.
The Search for Solutions.




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Author Information

Mark C. Tibergien was chairman of the Securities and Insurance Niche and a principal at Seattle-based Moss Adams LLP, the twelfth-largest accounting firm in the United States. Accounting Today has recognized Tibergien among its "100 Most Influential People" in the accounting profession, as well as "One of the 10 People to Know in Financial Planning." He writes a monthly column for Investment Advisor magazine and is coauthor of How to Value, Buy, or Sell a Financial-Advisory Practice. Tibergien is now CEO of Pershing Advisor Solutions.

Rebecca Pomering is a principal with Moss Adams LLP, specializing in strategic-planning and compensation consulting to the financial-advisory industry. She is a certified senior professional of human resources and the head of Moss Adams's compensation consulting and benchmarking practice.
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"A wealth of useful information. . . . Whether you plan to grow, or maintain a small practice, the insights Tibergien and Pomering provide will give you the necessary tools to manage your practice more effectively." (MorningstarAdvisor.com)

"We hired Mark in 2000 to take us through a planning process for Accredited Investors, Inc. Since that time, our assets under management have quintupled, our infrastructure and management systems have been refined, our priorities have been modified, and we are working with bigger and happier clients. We paid thousands of dollars for his work and received a benefit far beyond that. Now he and Rebecca have put many of their ideas into this book. It's a gift to the planning profession."
—Ross Levin, CFP
President, Accredited Investors, Inc.
Author, The Wealth Management Index

"This is the book a lot of practitioners have been waiting for. Mark and Rebecca are the foremost experts in this area, so expectations are high. They exceeded my expectations by a wide margin. Practice Made Perfect is loaded with practical items as well as meaningful insights that will surely help advisers become better businesspeople."
Dan Moisand, CFP
Principal, Spraker, Fitzgerald, Tamayo & Moisand, LLC

"Mark Tibergien and Rebecca Pomering have served up a real treat in Practice Made Perfect. I've known them both for quite a while, as consultants to our firm and as two of the most respected commentators on our profession's business management. I thought I had heard it all. Not so. Mark and Rebecca offer many new and important insights.  Everybody in this business needs to read this book."
—Tim Kochis, JD, MBA, CFP
CEO, Kochis Fitz Wealth Management
Author, Managing Concentrated Stock Wealth

"Most financial planners, including myself, start a practice because we love the work. It doesn't take long to recognize that if we want to be successful long-term, we have to build a business.  Building a business is what Practice Made Perfect is all about.  This book is not a "how to start" a practice. Rather, it is a guide to taking your practice from where it is today to where you want it to be tomorrow. A must-read for practitioners who are serious about our profession."
—Elaine E. Bedel, CFP
President, Bedel Financial Consulting, Inc.

"Mark and Rebecca are a dynamic duo--they are bright, insightful, and able to get right to the heart of what is important in managing and growing a financial-advisory business. Practice Made Perfect is full of practical advice and ideas that every serious financial adviser should know to manage their business. Their continued advice and this book are priceless."
—Greg Sullivan, CPA, CFP
President, Sullivan, Bruyette, Speros & Blayney, Inc.

"Practice Made Perfect is outstanding. Mark Tibergien and Rebecca Pomering have captured the key strategic-planning issues for financial advisers who are serious about making money with their practices. The ideas offered in this book are worth many times the cover price."
—John J. Bowen Jr.
Founder and CEO, CEG Worldwide, LLC

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