Overview

Develop and Articulate Your Unique Business Model Financial advisors in all stages of their careers can benefit from a well-defined business model... even those about to retire. An advisor's deeper understanding of their own practice and who it serves best, will lead to sustainable relationships in a win-win business model. This book provides a checklist process to quickly articulate, develop and/or analyze an advisor's unique business/service model. It includes completed checklists based on the final years of Christine's practice as an example. She discusses household capacity of practices and many of the required decisions for various business model components. The handbook also provides an analytical tool and checklists to facilitate the segmentation of clientele. It discusses many choices and decisions relating to the following aspects of an advisors unique business model: Qualities of an advisor's most compatible sustainable clients Service models for: Client communication Investing Financial planning Tax strategies and returns Resources needed and suppliers How a practice charges clients Direct and indirect client costs Advisor compensation Advisor career paths Segmentation of clientele

Full Product Details

9781777314583

Table of Contents

Reviews

The ideas and templates Chris developed in Business Models for Financial Advisors are useful and practical. Advisors like myself can benefit immensely by using these tools to help structure our practice and therefore provide a more consistent and positive client experience. - Maili Wong, CFA, CFP(R), FEA, Executive Vice-President, Senior Investment Advisor & Senior Portfolio Manager, Director, Wellington-Altus Holdings Inc., Named one of Canada's Most Powerful Women: Top 100TM by WXN, Author of Smart Risk: Invest Like The Wealthy To Achieve A Work-Optional Life Business Models for Financial Advisors has been a valuable source of ideas and tools for my practice. The service model (communications, investing, tax, resource management, pricing/client cost) checklists provided us with documented questions on areas we may have thought of previously but have never written down as a defined process. It created awareness that we may not be going as deep into personalizing meetings for each client. My associate specifically found the financial planning service model helpful. Along with our current model, he appreciates the detail put into the checklists. I think they would be a major asset for advisors that lack process and a huge asset for advisors early in a career. - Kevin Punshon, Financial Advisor for over 30 years, Chairman's Club member, Branch Manager, Big Five Canadian Bank owned brokerage firm The ideas and checklists presented in Business Models for Financial Advisors are very timely and helpful for us to use as a business planning tool as we develop and settle our business plan forward and develop the appropriate business model(s) to help us accomplish our objective.... It is, in aggregate, a superb tool for us to use to help all of the people in my practice determine, define and settle the forward direction we need to take our business to the next higher level. - Rollie Guenette, Financial Advisor for over 25 years, Chairman's Club member, Big Five Canadian Bank owned brokerage firm I really like your approach and, in particular, all the useful templates and checklists you provide. It is far more practical than many practice management books I have read over the 32 years I have been in the industry. - Gary Mayzes, Senior Vice-President & Regional Manager, Wellington-Altus Private Wealth, Over 30 years experience in the investment advice industry Your business models book was excellent. I've shared it with my team to read so that we can implement some of your best practices. It's always valuable to take a deeper dive into your business and be continually improving on the efficiency and what you have to offer. Your book pushed us to do that. - Adam Slumskie, Portfolio Manager, Financial Advisor for 13 years, Named one of 2021 Top Wealth Advisors in Canada by Shook Research and the Globe & Mail, Big Five Canadian Bank owned brokerage firm

The ideas and templates Chris developed in Business Models for Financial Advisors are useful and practical. Advisors like myself can benefit immensely by using these tools to help structure our practice and therefore provide a more consistent and positive client experience. -Maili Wong, CFA, CFP(R), FEA, Executive Vice-President, Senior Investment Advisor & Senior Portfolio Manager, Director, Wellington-Altus Holdings Inc., Named one of Canada's Most Powerful Women: Top 100TM by WXN, Author of Smart Risk: Invest Like The Wealthy To Achieve A Work-Optional Life Business Models for Financial Advisors has been a valuable source of ideas and tools for my practice. The service model (communications, investing, tax, resource management, pricing/client cost) checklists provided us with documented questions on areas we may have thought of previously but have never written down as a defined process. It created awareness that we may not be going as deep into personalizing meetings for each client. My associate specifically found the financial planning service model helpful. Along with our current model, he appreciates the detail put into the checklists. I think they would be a major asset for advisors that lack process and a huge asset for advisors early in a career. -Kevin Punshon, Financial Advisor for over 30 years, Chairman's Club member, Branch Manager, Big Five Canadian Bank owned brokerage firm The ideas and checklists presented in Business Models for Financial Advisors are very timely and helpful for us to use as a business planning tool as we develop and settle our business plan forward and develop the appropriate business model(s) to help us accomplish our objective.... It is, in aggregate, a superb tool for us to use to help all of the people in my practice determine, define and settle the forward direction we need to take our business to the next higher level. -Rollie Guenette, Financial Advisor for over 25 years, Chairman's Club member, Big Five Canadian Bank owned brokerage firm

Author Information

Christine Timms retired from a successful 33-year career as an investment advisor with career highs in both assets under management and annual revenue generated. She achieved her firm's top performance level for all of the last 24 years of her career. Her clientele included people from all walks of life and occupations: professionals, small business owners, public service workers, skilled trade workers, retirees, widows, etc. Christine credits much of her success to a constantly evolving business model and a strong team.

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