TAILIEUCHUNG - Practice Made Perfect 11

Practice Made Perfect 11 is the ideal opportunity to spend quality time with the best financial-advisory business consultants in the country. You get tips, tools, and worksheets to ensure that you can manage your practice to become the business success you want it to be. This book will be your new best friend—guaranteed | 78 Practice Made Perfect in definitions and expectations across practices. This hodgepodge is symptomatic of an immature industry and makes the management of staff a bigger challenge than it should be. A fundamental rule of business management tells us to define the roles expectations and accountability for each job so that we know what to evaluate and how to manage performance improvement. Multitasking is a concept long applied to owning and working for a small business. Many entrepreneurs treat their staff as if they were human fodder and just keep throwing bodies at the problem in the hope of overwhelming their enemy much the way the generals fighting ancient wars did. Not much thought is given to what the specific task is. As a result it s difficult to measure a staff s success. Each job requires a different set of characteristics. That makes it essential to define the nature of the job how success will be measured and the qualities required to fulfill the job well. The priorities of a job must be clearly spelled out so that the staff knows which issues take precedent when interests and priorities collide. Depending on your strategy and client- service experience jobs may need to be defined in the areas of sales and marketing client service operations compliance investment advice and management risk analysis and management financial planning estate planning tax planning The FPA Compensation and Staffing Study defines jobs in a number of categories as outlined below see Job Responsibilities . Some of these positions are more likely to be full-time jobs in larger firms but may be just a part of someone s job in a smaller firm. For that reason the study categorizes the jobs by function. A job may ultimately be composed of multiple functions. Your firm may have The Fulcrum of Strategy Human Capital 79 Job Responsibilities Management Functions President CEO managing partner Provides strategic concepts planning and broad executive management to achieve the firm s .

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