Exploring Practice Management In An Age Of Change
08.08.23
In our current financial services business landscape of rapid change and hyper-competition, practice management and business development efforts take on a whole new urgency and purpose. While continuous training and practice management have always been long standing features for the most successful financial advisors, RIAs and advisor teams, the accelerating competitive and evolutionary business forces make them essential for ALL advisors and financial firms that want to survive and grow. The age-old resistance though by some successful advisors and firms against “training” and “practice management” efforts is harder to justify as accelerating rates of change are starting to compound and vastly altering the nature and business dynamic of the entire industry.
In the midst of all this operational, cultural and technological change, businesses must make strong, conscious, strategic decisions on how to run and steer their firms in the face of these mounting challenges. This requires continuously learning new skills and approaches, adding new processes and systems, designing new client services, and rethinking firm purpose and goals. This is all driven by the fact that Change does not sleep, it has only been accelerating.
To explore where we are in the true nature and enhanced need for practice management, Mark Spina, president of FLX Networks, and the founders of their newly acquired practice management firm Focus Partners, Eric Sheikowitz and Michael Silver shared how practice management education, coaching, and resources can practically help financial firms to not just survive but thrive in our new business operating reality.