Dust Off Your Business Plan
With six months’ worth of data, a financial advisor can review business objectives, assess new clients, and determine whether she’s on target, ahead of her goals or behind, and why. --John Nersesian
Typically, financial advisors develop a business plan in December or January, John Nersesian says. Waiting until the new year to review it won’t do any good, he maintains. “It’s like doing tax planning on April 14th,” he says. At that point, you’re just reporting results rather than making any meaningful midterm correction. But, with six months’ worth of data, a financial advisor can review business objectives, assess new clients, and determine whether she’s on target, ahead of her goals or behind, and why, Nersesian explains. If need be, changes can be made now to salvage any lackluster results.
-John Nersesian, managing director of wealth management services for Nuveen Investments in Chicago, in Build Your Business While Everyone Else Is on the Beach
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