Profit Driven Architecture
The cornerstones of a successful Advisory practice
One of the keys to successful management of a financial practice is the use of advanced business models to guide practice operations and keep the practice on track with respect to its goals. Let us help you create and use efficient management systems.
All of your technical systems (i.e.. computers, software, printers, scanners, servers, website, email, phone system, messaging systems, and in-office communication systems should be working together and communicating with each other. We can transform and optimize your firm’s use of technology.
Developing or refining operational standards and written procedures makes for a more productive workplace. We analyze what procedures or manuals you already have in place and study your workflow processes to understand their strengths and weaknesses. Then we help set up systems to make those processes more efficient.
A financial practice office space is more than just the layout of the offices. It is more than just the placement of furniture and equipment. It is the combination of these elements with the goal of creating a harmonious workplace with positive energy flow that is beneficial to staff and inviting to clients. Design should be functional.
Services are the only value differentiator
The Efficient Practice offers industry-leading consulting, coaching, software and resources that transform and optimize all areas of your financial practice and/or professional business operations, simplify your life and increase the productivity, efficiency and profitability of your firm.
RIAs need to add and manage services efficiently or the RoboAdvisors will win the competition. Let us help. We want to ensure that your path to increased efficiency and profit gets implemented quickly, efficiently and profitably. This is accomplished by identifying your differentiation message and then exploiting it.
The # of bips RoboAdvisors charge
The profit margin of a RoboAdvisor firm
The profit margin of a typical Advisory firm
% of clients who need services beyond just investments
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The latest thoughts from EP
Consider the situation where an employee is in one cubicle performing an analytical task and the employee in the next cubicle is talking loudly on the phone. Studies have shown that, when interrupted from an analytical task, it can take up to 10 – 20 minutes to mentally get back on the task. Multiply this[…]
The importance of data syncing is better understood in the context of time management. There are firms with multiple databases where an employee might be forced to type the same information over and over again. This is a time demander that pulls staff members from doing more high level work. It also is prone to[…]
New Year approaches, new design in progress, with easier access to our content! Just in time for the new year! We are redesigning our site with a focus on the RIA community, accessing coaching advice as a simple subscription and connecting Advisors to each other in our forum. We have an introductory offer, where[…]
What is ‘EDE’? Stated simply, ‘EDE’ stands for Efficiency Dissonance Effect. The concept involves multiple elements in a financial practice’s operations that are coming into conflict. These elements can consist of management techniques, technologies, procedures and/or design elements in a financial practice. These individual elements, independently, could be viewed as efficient. However, when placed into[…]
There is a reason why dentists don’t pull their own teeth… It is because they lack perspective Truth is, financial advisors are the same when looking to improve their practice operations. They are simply too close to the subject to be objective. There is however much you can do on your own to start the[…]
Holiday Thoughts You have decorated the tree, bought presents for the family, and sent Christmas cards to friends and co-workers. But what have you done for your financial services firm? What steps have you taken to ensure that 2016 is significantly better than the prior year? Issues to consider: Office operational efficiency, review of procedures,[…]