From Insight to Implementation: A Strategic Path to Business Success

We know it’s common to focus on getting a new client by sharing just enough information to win the sale. Often, that comes down to a quick diagnosis based on what the salesperson wants to sell, rather than what the client truly needs.

We don’t do it that way.

Through our Consulting services, we guide clients through discovery and then implementation, similar to the financial planning process that advisors provide.

Gaining Insight and Clarity

As anyone in a long-term relationship will confirm, listening is the key, and it’s no different in this complex industry of ours.

The Strategic Assessment portion of our Consulting program begins with an emphasis on gathering information and asking questions. For a flat retainer towards the full project cost, this process focuses on what you’ve built, how it’s working, what your goals are, and what you need to do next to achieve them.

In many cases, advisors who engage us have hit a wall (or ceiling) and have been unable to achieve their most important goals. Even for smart and adaptable entrepreneurs, the answers are often elusive. And there’s a reason for that.

In most cases, these are not easy problems to solve; it takes time and a deep understanding of the industry, specific situation, resources, and options to figure out what needs to change. Just like a wealth management client with resources, constraints, and goals of their own, it’s challenging to make the best decisions without being aware of the available paths, learning which paths could work for you, and gaining the insights necessary to confirm that you’re heading in the right direction.

It can also be challenging to differentiate between problems and symptoms. Sometimes, for example, some clients say they’re frustrated by their top-line growth rate, and it turns out to be a symptom of misaligned incentives for owners, advisors, and/or key employees. Among the many topics with which we help our clients (succession, creating an ensemble, team expansion, goals-based business evaluation, and more), professional compensation is the single largest expense for most independent advisors. It directly impacts profitability and ultimately influences not only cash flow but also practice value, durability, and talent retention. We can help restructure compensation to create alignment and drive growth.

It’s common to find the answer to challenging problems in the connections between many moving parts, and finding the best solution often involves several different areas of expertise.

Executing the Plan

While our Strategic Assessment is only the start of the process, it is the key to everything that follows. The assessment process slows things down and allows us, and you, to take the time to focus and develop a plan. Starting with meticulous preparation, we gather a complete picture of your situation and business priorities before we even begin exploring possibilities and offering advice or a solution set. This process starts with many questions including about your history, specific objectives, and what has or hasn’t worked.

The Strategic Assessment phase concludes with clear feedback about what we’ve learned during our mutual exploration, what we recommend, and the specific steps you’ll need to take – now and later – to get where you’re going. In a highly regulated business, every detail is important. As consultants, we invest many hours into this initial process alone just to understand all the moving pieces and design your plan.

This is all presented in a written plan outlining the next steps and metrics to get to your desired outcome. At this stage in the process, we often involve your key stakeholders and incorporate their thinking and support.

Some plans can be implemented in 90 days; others can take a year or more. It all depends on what you have, where you want to go, and what actions you’re committed to taking.

A Team You Can Trust

Our systems and processes are anchored by three fundamentals that have guided our consulting work since we opened our doors over 25 years ago:

• A flat-fee engagement;
• A non-advocacy approach;
• A deep and well-coordinated team dedicated to you and your plan.

We don’t do billable hours–you’ll know what every step will cost before you start. We also don’t believe in fighting to the finish. Most of the plans we implement involve more than just the owner or founder, and the plan needs to work for, and be supported by, every key individual in your organization. This is a chance to work together to build something special.

Our complete team includes highly experienced consultants; cash flow, profitability, and benchmarking analysts; compensation specialists; appraisers; lawyers; ongoing plan support; and a complete M&A team for situations where mergers, acquisition plans, or a third-party sale are part of the journey. It’s an integrated team of 70+ experts working for you.

In the end, what matters most is the same thing you tell your clients: you can achieve your goals with expert guidance and support, and with confidence that you are following a well-informed plan designed specifically for you.