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SUMMARY OF HANDBOOK
A well articulated, written business model is a valuable tool for advisors at all stages of their career. Advisors having a deeper understanding of their own practice and who it serves best, will lead to sustainable relationships based on a win-win business model. I define an advisor’s business model as the articulation of who the advisor’s most compatible clients are, the services and products that the advisor offers those clients, how those products/services are provided, how clients are charged and how the advisor is paid. I show how advisors in all stages of their careers can benefit from a well-defined business model, even those about to retire. The handbook provides a checklist process to quickly articulate, develop or analyze an existing or desired unique business model. I provide an example of the process by showing completed checklists based on the final years of my practice and the resulting printed business model. I include discussions regarding many of the required decisions as we progress through the checklists for the various business model components. I also discuss household capacity of practices and provide an analytical tool and checklists to facilitate the segmentation of clientele. This handbook includes appendices “Why Advisors are Not Interchangeable”, “Why Many Revenue Sharing Advisors Have and Deserve Above Average Incomes” and “The Average Advisor of Various Financial Advice Channels.”
available templates
Business Model Checklists
Service Model Client Segmentation Checklists
Service Model Client Segmentation Checklists
Eight checklist templates to help you articulate, develop or analyze your business model:
- Compatible Sustainable Clientele Checklist (sample and template)
- Service Model: Communication Checklist (sample and template)
- Service Model: Investing Checklist (sample and template)
- Service Model: Financial Planning Checklist (sample and template)
- Service Model: Tax Services Checklist (sample and template)
- Resource Management Checklist (sample and template)
- Pricing and Client Costs Checklist (sample and checklist)
- Choosing Compensation Structure (sample and checklist)
Service Model Client Segmentation Checklists
Service Model Client Segmentation Checklists
Service Model Client Segmentation Checklists
- Four checklist templates to help you articulate your customized service offerings for A/B/C/D segments of your clientele.
- Segmenting Clientele: Identify Your Segmentation Criteria
- Segmenting Clientele: Checklists for each of the components of the service model (samples and templates)
Free Flow Chart
Investment Allocation Decision Flow Chart
A template to prepare a concise and simplified summary of your approach to investing and a practical worksheet for meetings and conversations with clients regarding the allocations in their investment portfolio.