Part 5: Running Your Practice as a Business
by Ivan M. Illan
Success as a Financial Advisor For Dummies
- Cover
- Introduction
- Part 1: Getting Started as a Financial Advisor
- Part 2: Mastering Core Competencies
- Chapter 6: Pursuing Professional Development
- Chapter 7: Getting Budgeting under Your Belt
- Chapter 8: Brushing Up on Asset Management
- Chapter 9: Delving into Liability Management
- Chapter 10: Excelling in Estate Planning
- Chapter 11: Tackling Taxation
- Reminding Yourself That You’re Not an Accountant
- Adding a Tax Advisor to the Team
- Managing Capital Gains: Don’t Let the Tail Wag the Dog
- Using Tax-Deferred Accounts to Maximize Compounding Returns
- Exploring Tax-Free and Tax-Lighter Investments
- Slashing Taxes with Retirement, College, and Health Savings Accounts
- Taking a Nibble Out of Taxes with Charitable Contributions
- Chapter 12: Getting Up to Speed on Behavioral Finance
- Part 3: Providing Superior, Personalized Service
- Part 4: Building Your Clientele
- Part 5: Running Your Practice as a Business
- Part 6: The Part of Tens
- Chapter 25: Ten Tips for Being a Successful Financial Advisor
- Let Your Conscience Be Your Guide
- Beware of False Profits
- Protect Your Clients from Predators
- Don’t Use Big Words
- Remember That Good Service Makes Up for Other Shortcomings
- Be Active in a Community Cause
- Be Eager to Acquire New Information and to Share What You Know
- Focus More on Skills, Less on Tools
- Appreciate the Trust Your Clients Place in You
- Always Ask: What If I’m Wrong?
- Chapter 26: Ten Business-Building Activities
- Schedule Client Review Meetings
- Keep a Log of Friends and Family That Your Clients Mention
- Sponsor One Charitable Event Each Year
- Break Bread with Your Best Clients
- Be Responsive: Practice the Same-Day Rule
- Attend Every Party You’re Invited to
- Have an Elevator Pitch
- Welcome All Prospects, Large or Small
- Stop Selling and Start Telling Stories
- Be Active on Social Media
- Chapter 25: Ten Tips for Being a Successful Financial Advisor
- Appendix: Financial Advisor Resources
- Index
- About the Author
- Advertisement Page
- Connect with Dummies
- End User License Agreement
Part 5
Running Your Practice as a Business
IN THIS PART …
Make your sole proprietorship a bona fide business to ensure sustainability and lay the groundwork for future growth.
Structure and run your firm as a traditional business, so you can focus your efforts on growing the business and delegate the rest.
Explore the option of taking on partners and do it right if you choose that option.
Leave a legacy of quality financial advice by planning for your succession.
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