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Consulting and Implementation Services |
Click here to check out the savings you get just for being an Advisor Network member
Click here to check out the savings you get just for being an Advisor Network member |
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Check out David Lawrence's column, 'The Efficient Practice' in Financial Advisor Magazine. click on the logo below:
Check out David Lawrence's Technology Column in The Register, Monthly publication of the International Association of Registered Financial Consultants (IARFC)
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Process - Fiduciary - Recordkeeping Most practices begin as a one-person shop and expand from there. Thus, the need for operational standards or written procedures may not be recognized until the need becomes so great that drastic steps must be taken to fix problems as they arise. Developing or refining operational standards and written procedures makes for a more efficient workplace. If an employer is out with an extended illness or leaves, another employee can easily step into the role vacated because these procedures are in place. We analyze what procedures or manuals you already have in place and study your workflow processes to understand their strengths and weaknesses. One method of documenting procedures is through the use of flowcharts and decision trees. These tools, in concert with written instructions give employees the opportunity to learn visually how to accomplish a procedure or set of procedures. As an example consider the following that, along with many others, could be customized to fit your practice operational needs:
Clearly, the financial services profession is moving in the direction of embracing fiduciary standards of care. We assist practices in implementing workflow management systems, techniques and communications that fully comply with standards set by all current applicable laws and proposed future regulations. Further, we employ the standards of care developed by the Center for Fiduciary Studies. It is one thing to call yourself a fiduciary whereas it is quite another to actually run your business as one. While fiduciary standards are stringent, they can be made to be a profitable part of your practice. We can show you how and help you implement it. To take the next step, click on our pricing link, click here!
Recordkeeping is still a critical operational element in a financial practice. With advances in electronic document management, recordkeeping can be made to be an integral part of your overall technology solution. With this, staff time involved in recordkeeping can be dramatically reduced, access to records can be sped up and compliance standards can be greatly enhanced while reducing your overall expenses, which results in increased net profits. Best of all, it can be a simple and fast solution to implement. We can help! We not only recommend solutions, but help financial professionals fully implement those systems and train staff in efficient use minimizing staff distractions. To find out more, contact us ASAP! |
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