Author: Angela Barclay

When an advice business ceases to receive trail commissions it does not mean that they must stop receiving recurring income, and start relying on constantly winning new clients on a transactional basis. One of the most valuable components of advice businesses is the fact that they can generate recurring income from long-term relationships with their clients. It’s just that in a fee-based business, this recurring revenue may not be as ‘passive’ as it was in a commission-based business.

Most businesses want to grow, and one of the ways this can be done is by acquiring another practice or buying a book of clients. In this episode Geoff Pritchard shares some of the important things to consider when considering an acquisition and in particular the traps...

Employing the right staff is one of the most critical success factors for any business. Aside from selecting the right people, there are also questions about when is the right time to increase your head count, at what point in your growth cycle do you employ more people, how do you keep them working to capacity – the list goes on. An alternative solution that can work for many businesses is outsourcing.

For a couple of years now, I’ve been meeting regularly with Scott Dawkins of Griffin Financial Services. Those of you who attended Elev8 recently will know that Scott was one of our speakers, and told an amazing story about WHY he does what he does.

When providing advice on risk, how far does your responsibility go? Is it enough to simply address clients’ own personal risks? What of the risks of those around them, with who their lives are intertwined? Expanding the risk analysis beyond the actual clients in front of you and considering their immediate family as a standard rule with every client is not only good for the client, it can be great for your business.