WOW that’s painful to talk about. Could your financial advisor practice be more profitable? Have you studied and measured its profitability? While helping the world with their retirement you just in fact may be neglecting your own.
In this episode with Jim Palumbo of DYNAMIC Advisor Solutions, advisors will learn:
- Why the profitability of your practice is matters to your clients
- The value of seeing yourself as a business rather than just a professional practitioner – both for yourselves and for your business owner clients
- How far you can cut costs and which costs you should and should not cut
- Two ways to grow your business and how to go about them
- Profit margin guidelines for advisors who are acquiring other practices
- How Jim got his business to 80% gross profit margin when he was an advisor
- The likelihood of local talent meeting the needs of your practice
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Music is “Arp Bounce” by Geographer