Buch, Englisch, 240 Seiten, Format (B × H): 160 mm x 229 mm, Gewicht: 454 g
Reihe: Bloomberg Professional
A Team-Based Approach to Building a Superior Wealth Management Firm
Buch, Englisch, 240 Seiten, Format (B × H): 160 mm x 229 mm, Gewicht: 454 g
Reihe: Bloomberg Professional
ISBN: 978-1-118-20954-7
Verlag: Wiley
Why do ten percent of wealth management firms grow faster than the rest of the industry, often despite the turbulence of the markets? The answer, according to industry consultant and researcher, P. Palaveev, is that the most successful firms are those which, create and promote a team-based service model that serves as the foundation of their enterprise.
* Find out how and why a team-based service model can play a decisive role in the future growth and sustained success of your wealth management firm
* Discover the key factors for building a successful ensemble firm and profit from the best practices top team-based firms employ
* Profit from the author's years of experience working with the world's top wealth management firms and the data he has compiled as a pre-eminent industry researcher
* Learn about the various organizational structures, partnership models and career path options and how to put them to work building an ensemble practice
* Get the lowdown on how the savviest traditional broker-dealer firms have formed dynamic ensemble teams within their organizations and learn of the results they've achieved
Autoren/Hrsg.
Fachgebiete
Weitere Infos & Material
Introduction
Acknowledgments
Part I: Structuring an Ensemble
Chapter 1: The Ensemble Defined
The Ensemble Concept
Ensemble Demographics
Ensembles are More Profitable and Valuable
Clients Prefer Ensembles
Should everyone be an Ensemble?
What's Next and Who Should Read on
Notes
Chapter 2: The Ensemble Structure
The Service Advisor Model--Leverage
The Emerging Partnerships--Sharing
The "True" Ensembles--Leverage and Sharing Combined
The Super-Ensemble Firms
When Large Becomes Too Large?
Notes
Chapter 3: Growing Into and Ensemble
The Right Time to Hire
Who Can you Hire?
Structuring Client Service
Service Advisors and Client Relationships
The Hiring Process
The Selling Question
The Equity Question
Making the Decision
Notes
Chapter 4: Merging Together
Your Shared Strategy
Your Shared Values
The Data
The Business Plan
Partner Roles and Compensation
The Deal
Mergers of Not So Equals
The Deals after the Deal
Owner Rights
Making Decisions as Partners
Buy-sell Agreements, Retirements, and Breaking Up
Communicating the Deal to Clients and Employees
Notes
Chapter 5: From Silo to Ensemble
Creating a Shared Bottom-Line
The "Mine, Yours, and Ours" Model
Assign Management Responsibilities
Share Client Meetings
The Prenup
Change Your Thinking
Notes
Chapter 6: Partner Responsibilities and Partner Compensation
Labor versus Equity
Using Profit Centers or Silos
Setting Owner Base Compensation
The Role of Equity Ownership in Income
Discretionary Expenses and Perks
Partner Compensation Discussion Worksheet
Part II: Managing an Ensemble
Chapter 7: Creating Ensemble Culture
Establishing Priorities and Values
Customers--Service as Culture
How We Deal with Each Other
Who Owns the Client?
Mom and Dad
Tribes
Manage Yourself
Notes
Chapter 8: Making Partner
When Can You Add a Partner?
Who do you want as a Partner?
How Do They Buy In?
Alternatives to Full Partnership
Why Do You Promote Partners?
Notes
Chapter 9 The Big Idea
Four Stages of Growth
Steps to Institutionalizing
Notes
Chapter 10: Managing Professional Compensation
Compensation Philosophy
Setting Salaries
Payout Based Compensation
Incentive Compensation
Benefits
Compensation Management Process
Chapter 11: The Bottom Line
The Owners Personal Income and Income Bogey
The Income Statement
Managing Engagement Economics
Unit Economics
Managing Staffing Cost and Productivity
Overhead Management
Key Ratios on Your Dashboard
Budgeting and Financial Management Discipline
Notes
Chapter 12: The Devil in the Details
Agreement on Service Process
Investment Committee
Leadership in Operations
Customization and Efficiency
Technology Selection
Quality Control and Risk Management
Vendor and Strategic Partner Choices
Part III: What Happens Next
Chapter 13: How to Fight with Your Partner
Losing Control of Your Own Firm
Agree to Disagree--aka Avoiding Difficult Decisions
The Porch of Indecision1
People Who Don't Develop
Protecting Your Ensemble
Notes
Chapter 14: Doing Deals
Equity Planning for Ensembles
Consolidation Deals
Other Acquirers
Finding Your Deal
Notes
Chapter 15: The Future Belongs to Ensembles
About the Author
Index