I had the pleasure this week to speak at a IMO event. I did not know what an IMO was until recently [Independent Marketing Organization] My sessions were on the succession planning process of a practice, how to maximize its value, select a suitable candidate firm or individual and how to strategically prepare years in advance. [...]
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About 18 months ago I was in the audience when 2 local business successes shared their story and the history of their company. One of the speakers was Jake Jabs the founder, owner and CEO of American Furniture Warehouse – a local furniture business that has survived through the many recessions and economic ups and downs [...]
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The ever present question all financial planners need to have an appreciation for is the value of their business and their assets. What trends exist and what is the current valuation mood for small closely held companies ? As a business owner having a sense for the primary asset in your own net worth statement [...]
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Delivered to me today [23/02/2001] pretty much 12 months after the the first interview. 6 months longer than I had anticipated. Lessons learned at every turn and I am truly a wiser man for having completed the exercise. Thanks to everyone who participated and kept me on track.
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As a solo practitioner life can be pretty simple and clean. You are free from the corporate limitations, politics and regimen. Your day starts when you want and you pick your clients for their social qualities as much as their financial situation. Its a simple but rewarding existence. Your outlook to retirement is a long [...]
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Small business is the backbone of the American economy – we hear it every day. Small business has never been so perilously caught between the need to support itself and the desire to support those who it employs along with their dependents. And while there are multitude of programs, plans and government entities proporting to [...]
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Financial Planning firms are businesses and as such are managed to make a profit. The new planner or advisor has come to the industry with either a vision of service or a vision of income and unless they are really lucky will have to cut their teeth by pounding the streets and “getting out there”. [...]
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The old adage goes “If you fail to plan, your plan will fail!” Its obvious but more often than we think we rely on hope and good fortune to get us to our goals, cry foul and seem surprised when bad luck befalls us. Today the need to consider our futures and plan for our [...]
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