What Is Your Registered Investment Practice Worth?

By: Dennis Friedman

Accounting firms have adopted varying approaches when adding a financial services practice to their accounting practices.  Most have pursued one of the following three revenue models as they have built these businesses.

1.      Commission only - non-recurring revenue

2.      Fee only – non-commission based revenue

3.      Combination - the practice earns its revenues from a combination of the two models above

As firms continue to build their financial services business, start a new practice or consider divesting of the asset that they have built, many are faced with the question how do I put a value on this business regardless of whether it is a purchase or sale.  Therefore, assessing the following is crucial when evaluating what a financial services practice is worth.

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THE STRATEGIC MARKETER

BY August Aquila

Marketing has come a long way since the days of the Bates Decision (1979) which allowed accountants and attorneys to opening marketing their services.  During that same time, marketing directors and the role of marketing in firms have earned the right to sit at the table with the partners.

Firms today only employ marketing and sales professionals but also expect them to deliver value. Marketing professionals need to think and act like owners which means they need to know what makes their firms profitable. It is up to the managing partners to effectively communicate with marketing directors to help them become steady profit enhancers.

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Tackling Tough Questions: Q & A

by Dianna Booher

Have you ever watched a partner wrap up a fabulous meeting, field a few questions with flair, and then, just as they're ready to wrap up, you see another hand waving from the end of the room. "So, Bob, everything you've said so far makes sense, but could you explain how this protocol could have been effective with that situation in production last week?" Unprepared for this curve ball, you watch as Bob stammers and stutters next to his pie charts, with an incoherent ramble that turns an otherwise star performance into a show-stopper.

Public speaking is a common fear among those in the business sector for good reason.  No one likes to be peppered with questions for which they are unprepared.  What's a major key to minimizing that fear?  Preparation.

Here are a few practical tips for preparing for question-and-answer periods, particularly when you expect difficult questions from skeptics.

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THE SNAP BACK EFFECT

By Steve McCann

Chris is an ambitious man, always wanting to improve and get better at whatever he does.

When he was young his dad told him "son, you can do anything you put your mind to", a nugget of wisdom he has always remembered.

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