A financial advisory business should be managed to generate a healthy profit. That seems like a reasonable suggestion that few would argue. Yet, according to my guest on this week's episode of the Modern Financial Advisor Podcast many financial advisors are leaving a large amount of profit on the table. Dan Cuprill of Advisor Architect (and host of The Profitable Advisor Podcast) explains that advisors often focus too much of their attention on top-line growth and high-priced overhead expenses that aren't translating to profit.
Resources Related to this Episode: Below are a few additional resources to explore. If you haven't done so already, you should take advantage of TruePerformance and generate your eValuation Report. It's a great place to start if you are serious about improving your business.
Firms of the Future - In one of the earliest episodes of the podcast, Shane Morrow of IronBridge Wealth Counsel shared how he and his team are building a profitable advisor business for the future.
Why Wealth Management Firms Should Copy Others - As Dan Cuprill mentioned during this episode of the podcast, benchmarking your business against other successful businesses is a great place to start to get an idea of how well you are doing.
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