Transitional businesses which focus on a handful of key goals and deals only with the priority or "m...
Transitional businesses which focus on a handful of key goals and deals only with the priority or "must-do" activities will find it easier to see which direction the firm must move, suggests Campbell Edgar of Bloomsbury Financial Planning.
In the third of his series of articles for IFAonline's Business Manager, Edgar places the emphasis on delegating tasks to other members of the team again, as it will allow you - the manager - to look more at the strategy of the firm and the practices which will bring in the customers.
"The structure of your firm will change…if you have identified that you are likely to be more valuable to your clients (and yourself) by seeing and speaking to them more frequently and for longer - this works well in time-cost fee-based practices - and marketing is taking up too much time, then don't market. Get someone else to do it. Prospecting ceases to be a 'must-do' for you," suggests Edgar.
To try and help IFA firms establish what their priorities or "must-do" list should be, Edgar also gives brief details of the key elements to consider and what the financial planning process should look like.
Click thru the right-hand Resources link to read more.
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