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The number one thing advisors are looking for is clarity about their business for their future. They have a good sense of where they are going, but then face the challenge of achieving their goals because they seem to change, as the industry changes. With all of the regulatory, technology and product pricing changes, it is no wonder that advisors need a deeper sense of clarity around their future.

How Do You Get More Clarity?

Let’s start by examining a simple list of your business goals. Just for fun, take this simple checklist below, and check off the goals you want to accomplish in your financial advisory practice this year.

Goals-Based Business Planning

____ Lifestyle - work-life balance more time off in the next 12 months 

____ Growth -Ideal client acquisition acquire more HNW clients

____ Value- Ideal service processes – Deliver more value

What is your main driver for the next quarter? is it growth, value or lifestyle? It would be great to have all three in balance, but prioritize which one is first? 

Next, look at the list below and check off what you would like to accomplish in the next quarter, and prioritize it to the top 3 -4 items on the list. 

Clarity

___ Business plan on paper – your vision and values

___ Business model – ideal focus – Big goal

___ Data- KPI’s and or benchmarking – key practice data

___ 4 DX 4 disciplines of execution

___ Long-term goals 

___ Transition plan

____ Segment – More time with ideal clients

____ Time management – work on business more

____ Valuation know the value and how to increase

Growth 

____ Marketing and branding – Creating a clear value promise

____ Delegate – Team to do more / outsourcing

____ Ideal client path now and future

____ Marketing plan and marketing calendar

____ Value promise

____ Strategic partners COI network 

____Target marketing fusion marketing 

____ Conversations – Practice critical conversations with ideal clients and master

____ Career – education / courses

____ Leadership – Firm or industry leadership roles

___ Less transactional clients

___ More revenue per client

___ Build a deeper Client acquisition process

Value added processes

___ Build a stronger Ideal client experience process

___ Implement Better technology

___ Delegate more and hire more staff support

___ Get better support from strategic partners 

___ finally complete a Succession plan in writing and file it away

___ Build better processes 

___ Segment clients and prospects 

___ Travel for business – attend conferences

Team processes

____ Hiring – Expanding team / associates partners

____ Communications Become a thought leader

____ Team processes 

____ Team path -

____ Organizational chart today and future

____ Staff value promise - mission vision values and goals 

____ Career path for each team member 

____ Team training path 

____ Leadership and culture

How many goals do you have for you and your advisory practice? Most advisors I speak to, their goals have changed in the last 3 years. Have your goals changed? Maybe it’s time to update your business goals.

Practice Management Can Help Your Financial Advisory Practice

The average advisor has 6 or more business goals. That is where practice management comes in. Speak to a practice management expert, branch manager, mentor, or coach to help you benchmark your practice so you know where you stand. Then prioritize your business goals, and help you implement strategies to accomplish your business goals. Take this simple checklist, print it out, and the next time you have time to work on your business, use this list as a guide. Share it with your team, your spouse, and other advisors, to help you. Go for it and remember what Albert Einstein said “ The only source of knowledge is experience”. Find someone to help you who has the experience to help you achieve your goals in this great industry.

Where do you want to be in three years (2028) ? 

Our Practice Management resources - Comprehensive Practice Management checklist

https://practicemanagement.getresponsepages.com/

Sample: Comprehensive Financial Advisor Practice Management benchmarking report

-Key data and KPI's, over 30 Key Performance indicators. Do want a sample benchmarking report to help you understand how to get the edge on your practice and your competition? 

 https://benchmark.getresponsepages.com/ 

Updated 2025 Technology Checklist for Financial Advisors 

This checklist is five years' worth of research on the best processes elite financial advisors and their teams implement to acquire and service ideal clients while running an efficient practice. 

https://technology-checklist.getresponsepages.com/ 

We are here to serve your practice, let’s talk

Contact us to help get clarity around your goals on paper, and have the goals conversation by contacting Grant at grant@ghicks.com or click on the link to set up a no-obligation 20-minute discussion https://my.timetrade.com/book/JMTNJ regardless if we work together, let’s have a chat and listen to your biggest practice management concerns to help you get clarity around your future business.

Grant Hicks, CIM, is President of Advisor Practice Management and co-author of “Guerrilla Marketing For Financial Advisors” 1st and 2nd editions. www.advisorpracticemanagement.com for speaking, workshops, or coaching, contact Grant at grant@ghicks.com Grants combined financial advisor clients manage over 5 billion AUM, and earn over $50 million dollars combined! 

Enthusiastically yours,

Grant Hicks, CIM, President
Advisor Practice Management
www.advisorpracticemanagement.com

PO Box 382 Lantzville BC V0R 2H0
Cell 403 970 8895
Email grant@ghicks.com to book a meeting click here https://my.timetrade.com/book/JMTNJ 

PS Where do you want your financial practice to be at the end of 2025? AUM, Revenue, and time off? 

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Advisor Practice Management

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