3 Keys To Maximizing Your Firm's Value

So, what kind of new ideas or innovative services should see the light of day? Consider adopting and implementing changes that will exceed—and not merely meet—your clients’ expectations. These can include creating more personalized, unique experiences with the use of technology, or increasing the amount of yearly face time you have with their families’ decision makers. 

2.) Prioritize tax planning

With changes to the tax code dominating the headlines over the past year, clients are undoubtedly asking how their savings may be impacted. This provides an opportune time to take a look at how your business is approaching these tax changes. We believe that adopting an investment philosophy that leverages tax-smart tactics is a powerful way for advisors to differentiate themselves and deliver additional value to client relationships and portfolios. 

As we continue to face unknowns with regard to the impending tax code changes, prioritizing tax planning by hiring tax-focused investment professionals or taking advantage of a well-established investment management partner will not only help to differentiate your firm’s offerings, it may also alleviate many concerns. Benjamin Franklin once said, In this world, nothing can be said to be certain, except death and taxes. Demystifying the latter will likely help your clients have more confidence with their circumstances.

3.) Outsource wisely

The aforementioned Pricing & Profitability study indicates that the revenue of firms across the board increased by 11.7% on median in 2017—which has fostered a “sense of confidence to hire and create capacity for even more growth in the future.”2 Consider using these findings as an opportunity to take tally of where your firm could benefit from outsourcing areas such as portfolio management, tax planning or performance reporting.

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