Do you have the monitoring systems in place? Do not spend all this time to create these processes that then are not followed. Oligino pointed out one huge issue, “54 percent of advisory firms strategic plan do not include staff member performance objectives.” Take the strategic plan down to the deliverables and objectives of each staff member.
If an advisory practices does all these things they can achieve meaningful productivity gains by overcoming resistance to change, implementing simple and effective problem solving techniques and making critical decisions about what to delegate. Advisors should focus on strategy, operations management and personal productivity to improve business performance.
Oligino asked the attendees, “What are some of the things you can do today?”
Mike Byrnes is a national speaker and owner of Byrnes Consulting, LLC. His firm provides consulting services to help advisors become even more successful. Need help with business planning, marketing strategy, business development, client service and management effectiveness? Read more at ByrnesConsulting.com and follow @ByrnesConsultin.