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How to make your KPI’s actually work!
by Tony Vidler        Looking ahead at the changes you can…no… the changes you WILL make in the next year you have probably begun to zero in on the Key Performance Indicators – the KPI’s.   These are the measures that matter.  They are the ratio’s or milestones that indicate your plan is progressing, and that […]
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How to balance client time with practice development
by Tony Vidler        A genuine challenge for advice firms right now is balancing client time as well as do all the work necessary to lift standards and improve business systems.  There are after all only so many hours in a day, but then there are deadlines for when new standards and rules have to be […]
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Practice Growth Requires Leadership More Than Management
by Tony Vidler        The most frequent thing I see that prevents great practice growth and holds advisers back from developing their dream business is a lack of vision.   I don’t mean “vision” in the namby-pamby buzz-word sense of having a beautiful set of words on a plaque on a wall that nobody really cares […]
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R.I.P. To Some Accepted Wisdom For Growing A Practice
by Tony Vidler        In challenging times growing an advisory practice is incredibly difficult, and one of the methods has become conventional wisdom – but that doesn’t mean it is right in these days of fundamental and structural change.   The concept of a professional firm requiring 3 distinctly different roles of a Finder, Minder […]
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10 Reasons why an Advisory Practice just stays “practicing”
by Tony Vidler        Finally I’ve worked it out after years of wondering why a “Practice” is called a “Practice”. I think it is because the business is mostly practicing to be a business.  When a “practice” has made it everyone calls it “a firm”.   THE common denominator in a Practice appears to be […]
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How do you know when you have a “great practice”?
by Tony Vidler        I was given this question in the headline recently and the quick answer is:   “When it is delivering the income and lifestyle that you imagined.”   However, that benchmark is perhaps misleading.  It is potentially an incomplete answer as simply obtaining the lifestyle and income that you want from your […]
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5 Tips for selling, or buying, a practice.
by Tony Vidler        There are a number of traps that professionals consistently fall into when selling (or buying) a book of business.   The mistakes are so consistent and prevalent that there is are some golden rules evolving on how to make sure any sale is successful.   The Top 5 are: 1. Get […]
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If you have repeated problems, you need a process!
by Tony Vidler        For financial advisory firms the word “process” has become synonymous with “best practice advice”, but good process is so much more than just a compliant and well-documented series of advice documents.   Process is what builds franchise businesses.  Process is what creates turnkey operations that are highly valued by prospective purchasers. […]
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Are You AND Your People Clear About What YOU Want?
by Tony Vidler        Pretty much everyone running a business hates having to come up with job descriptions for their staff. A statement which may have been correct at a moment in time to describe a role, and the role is subject to constant change…they are pretty much a waste of time as means of […]
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buying a financial planning business
What you need to know if you’re going to buy to grow
by Tony Vidler        As many advice businesses reach maturity it is common to consider whether they should “buy to grow”.  Should they buy another practice, or more commonly, should just buy a book of business from another practice.     The typical reasons suggested for wanting to grow through acquisition are: 1.  Get new […]
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