Formulating a vision, heading off infrastructure and resource bottlenecks, and deciding on a flexible “True North” are essential early steps in the increasingly competitive advisory business.
As competition in the advisory business intensifies, the pressure to make ever larger investments in your firm’s infrastructure grows exponentially. Only firms that can provide state-of-the-art products and services will survive. How do you stay relevant with limited resources especially early in your firm’s life cycle?
I went through it myself in the early days of founding an RIA. In that period when I was hustling, prospecting, and seeking to establish a legitimate back office, large, forward-looking investments seemed insurmountable. However, I…
