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Saturday, June 22, 2013

Business Plan of Financial Alternatives

Here is a One Page Business Plan of a Fee-only Financial Planner – Mr. Jim Freeman, Founder, Financial Alternatives based in San Diego, USA. It is good if a Financial Planner/firm develops a crisp and clear business plan which will guide him/her towards establishing a successful practice or take it to the next level. Take a look and get inspired!
Business Plan was prepared in September 2011 with the help of a practice management consultant and based on the article by James Collins in Harvard Business Review
Also don’t forget to check out their new awesome website http://financialalternatives.com/

Business Plan of Financial Alternatives

Core Values:

• Integrity – client interests always come first
• High productivity and consistently increasing professional knowledge
• Superior listening and incisive questioning skills
• Consistent, outstanding service and attention to detail
• Enjoying work and living a balanced life

Core Purpose:

• To challenge, inspire & empower clients/employees to achieve their lifetime goals
• To support clients during their inevitable life transitions

10-20 Year Goal – Big Harry Audacious Goal:

• Be a top Integrated Wealth Management firm in San Diego
• Be known as one of the best firms to work for in the nation
• $ “XXX” million in annual gross revenue / low overhead / highly profitable
• Clients fly into La Jolla from around the country to work with us
• Highly satisfied clients and employees

5 Year Objectives: Achieved by March 31st 2015

• $ “XXX” in gross revenue
• Equity opportunities for staff
• Involvement in charities, volunteer work
• Technology platform and all internal systems and processes running smoothly
• Marketing generates one new ideal client a month. (boot camp for clients’ kids)
• One booklet/book published and we are giving speeches on a regular basis

12 Month Objectives (Created March 16, 2011):

• Have turnkey process for:
a) ongoing investment management,
b) new asset intake management,
c) new client intake,
d) referrals, acknowledging both the new prospects and the referrer,
e) marketing – creating company advocates, clients and related professionals who believe in what we do and refer to us.
• Have an effective way to share and harness knowledge capital; a wiki or share point where we all contribute to a best practice worksheet
• Website upgrade completed (simplified and re-branded)

90 Day Objectives: Achieve by November 31, 2011

• Complete marketing processes: social networking, paper brochure, SOP for marketing meeting follow up with related professionals and referrals.
• Update new client intake process, MQ, update annual review doc to reflect new binders, create table of contents for the new binder & get one new client.
• Server completed, workstations updated to Windows 7.
• N-tier up and running.
• Get 80% of our CEU’s this period studying our target market’s issues.

Branding/Marketing Exercise to be done

• Define target market
- Executives,
- Retirees,
- Pre-Retirees

• Redo branding as necessary; Theme is “simplicity”
- Define/refine our message (craft best way to impart how we want others to perceive us – three themes)
- Finding/hiring design consultant
- Redo Logo, Color (Name)

• Website redone
- Content first drafts by 4/29; finish by 5/6
- Select designer – two weeks from 3/18
- Yeske type portal how best to do this.
- Hosting provider – two weeks from 3/18
- Search optimization, social networking links
- Friendly to mobile browsers & apple/safari

• Paper brochure
- Content
- Printer

• Financial planning binder

• Pocket folder

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