Every year during NAAIM's Uncommon Knowledge conference, solo advisors gather to share tips and best practices, especially for running a practice by yourself or with a small staff. This year was no exception. With more than 15 advisors in attendance, we had a lively discussion, touching on topics such as marketing, compliance and technology tips.
Following are highlights from the meeting
- Backup when away from the office - Approach another solo advisor and ask them to trade-off
- Outsourcing -Solo Advisors tend to spend money in terms of man-hours. Your time is valuable! Tips on outsourcing for compliance, technology, investment management and sales and marketing.
- GIPS Compliant - What is it (Global Investment Performance Standards) and why would I want it
- Marketing Strategies - Social Media, E-Marketing, In-bound Marketing and other lead-generation ideas
- Staffing -Tips for working efficiently with less people or none at all
- Use of 3rd Party Resources - look to NAAIM members to help you find vetted resources and inside experts