When financial advisers need guidance on running their business, they turn to Mark Tibergien, the most prominent, most respected authority and hands-on consultant on the science and practice of managing financial advisory firms. Together with Moss Adams colleague and principal Rebecca Pomering, they have combined their years of research and analysis to write the definitive book on the subject.
The authors first identify how to assess the business and evaluate oneself as a manager. They then present strategic-thinking issues—such as practice models, business plans, and differentiators—in a Socratic style. This is followed by a detailed overview of critical topics, from financial management and human capital to IT and marketing—encompassing the management skills, approaches, and mindsets needed for success.
With management tools, worksheets, and industry statistics, Practice Made Perfect is the authoritative book from the industry's expert.
Preface.
Acknowledgments.
Introduction.
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.
Afterword.
Appendix.
Index.
Anonymous
Posted May 10, 2005
A well-engineered and reliable kitchen appliance, say a toaster oven or a blender, has a certain functional beauty, and so does this book. Authors Mark C. Tibergien and Rebecca Pomering specifically target and serve financial advisers who own consulting firms. Based on their decades of consulting experience, the authors offer sound advice designed to protect - or deliver - any small financial service firm from a fiscal crisis. In the course of doing so, they debunk several myths, such as the notion that you can simply sell your way out of poor financial performance, or that most small firms don't need to borrow to pay for their operations. With an appendix chock full of helpful tools, such as a cash-flow calculator, a sample financial statement and a practice-management assessment questionnaire, this is a useful book for any small consultancy. We strongly recommend this book to financial advisers who know the value of good advice.
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Overview
When financial advisers need guidance on running their business, they turn to Mark Tibergien, the most prominent, most respected authority and hands-on consultant on the science and practice of managing financial advisory firms. Together with Moss Adams colleague and principal Rebecca Pomering, they have combined their years of research and analysis to write the definitive book on the subject.
The authors first identify how to assess the business and evaluate oneself as a ...