In our discussions with many financial planners across the Industry we continue to see critical areas of business operations that drive success in Practices. The common threads of success show up continually.
Key examples that we observe at Futuro include:
- Principals maximising their time on high value clients and referrers
- Leveraging their staff structure
- Across costs to serve with an appropriate fee model
- Maximising technology
- Prepared to adapt to a changing environment
It is interesting that Owners who are prepared to implement change stand out. Their thinking is not stuck in the past. They are willing to accept that they do not have to come up with all of the good ideas to drive the business forward. They most often participate in a community of financial planners who are willing to talk about their business and share ideas.
In many cases they utilise the services of an experienced Industry participant in a “Board of Advice “ or coaching type relationship.
Futuro has experience in helping advisers work on their business through our innovative Advantage Program. We utilise external consultants that work on the following framework of value drivers.
Futuro Ten Value Drivers
- Formal strategic plan with clear accountabilities
- Leverage staff structure
- Compliance mindset & behaviours
- Strong understanding of cost to serve & appropriate pricing
- Strong processes and willingness for continual process improvement
- Willingness to change & adapt
- Referral process with clients
- Centres of influence relationships & referring
- Owners maximising the use of their time with high value clients & developing market opportunities
- Open to maximising technology
If you are serious about working hard on the value drivers in your business then we are interested in partnering with you.
We will ask that you work with our business coach to set the strategic plan and how you will drive the future value in your business. This support will be ongoing. You shall benefit from support every step of the way in the process of developing your business.
If you would like to know more about how Futuro can help your business please call us on 07 3018 0400 or email firstname.lastname@example.org.