Practice Foundation - Business Models, Fees and Profitability

What’s Your Business Model? This session examines the concept of business models as new advisors set up their businesses. The following areas will be examined:

• Developing a service model. What types of services do you want to offer to clients? Should you manage money?


• How do I set my fees? How to think about calculating fees that are fair for everyone, and give you the level of income that you want.


• How do I get stared? Start your own practice from scratch, utilize a turnkey system/network?


• What about profitability? Start up and ongoing costs - how to keep going until you have momentum.


• How do you spend your time building your business?


• Common "beginner" mistakes - what they are, how to think differently and avoid inefficiency.

This discussion focuses on how the choices which advisors make in these general areas shapes the growth (and limitations) of their business and the impact on their future revenue.