Fall is my favorite time of year. I thoroughly enjoy the cooler weather, change in leaves and the start of the holiday season.

While many advisors I work with view this time as a winding down of the year, I can honestly say that I see this as a chance to make some last minute adjustments in my business or personal life to close the year out with a sense of a job well done. I also find this season as the perfect time for advisors to assess their business and consider what changes they can make now or preparations for adjustments in 2016.

It makes perfect sense to me that as you complete performance reviews for employees and work with your clients to discuss any portfolio changes you should make before year-end that you should also consider your practice.

Take a look at these 5 questions pulled from our larger business assessment questionnaire to get started and consider how your answers might lead you towards making some changes in your business now. Furthermore, pose these questions to your team at your next meeting and discuss their responses.

  • Describe your mechanism for tracking the needs of your clients and growth of your business as it relates to making capacity decisions to meet your service standards.
  • How have your defined your ideal/target client and how your business is best positioned to meet their needs, concerns and issues?
  • What is your tracking mechanism for analyzing results achieved from your marketing strategies in terms of new assets and new clients?
  • How many new ideal clients have joined the practice this year compared to last year?
  • Describe the organizational skills and productivity of your business.

As always, reach out to us if you would like to discuss some of your responses, or take our complete assessment and get our feedback.

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