1. We have clearly defined measurable goals for this year.
2. We have clearly defined measurable goals for upcoming years.
3. We regularily document our goals.
4. We regularly share or communicate the goals with our team.
5. We monitor and measure the goals regularly.
1. We allocate our time in a structured way on a daily/weekly basis.
2. We have that structured time on our calendar.
3. We adhere to our calendar structure, and only schedule appointments accordingly.
4. We are highly focused on the task at hand and are NOT reactive to unexpected and non-urgent client/staff emails or calls.
5. We reserve time on a consistent basis to work \"on\" the business (not just \"in\" the business doing regular activities and tasks).
6. We effectively use our time in a way that will help us achieve our goals.
7. We effectively use AI tools to become more productive and efficient.
1. We have a vision for our business over the next year and ongoing.
2. Our team is clear on the vision for the year ahead.
3. Our team is clear on their role in helping achieve the vision of our practice.
4. We regularly review the vision of our practice with our team.
5. Strategic planning is a regular part of our business.
6. We have a documented strategic plan that serves as a snapshot of how we will achieve what we want to accomplish.
7. We ensure our team is aligned and participates in the strategic vision of our practice through strategic planning meetings.
8. We have a strategic planning team meeting agenda.
9. We ensure the Strategic Planning Team meeting Agenda is distributed to team members well in advance of the meeting along with any instructions on how to prepare or what they should be prepared to report.
10. We assign responsibility to our team members in regards to the action items within the strategic plan.
1. We have determined which Key Performance Indicators or metrics our firm and team will use to measure success.
2. We have a process to track KPIs and metrics for team members and the firm.
3. We review the KPIs or metrics in regular team meetings.
4. We consistently track \"results\" based KPI’s (lagging indicators), example: Net new revenue, AUM, client retention etc.
5. Our team consistently tracks \"activity\" based KPI’s (leading behaviors), example: Number of calls to ideal clients, number of hours spent with ideal clients, number of moments of truth completed etc.
1. We have a well-defined client classification or segmentation model.
2. We have documented our client classification or segmentation model.
3. We understand each classification of our client classification model.
4. Our team members fully understand the importance of client classification.
5. We consistently classify each new client correctly.
6. Our client classification model is reviewed and updated on an annual/regular basis.
7. We use a CRM (Client Relationship Management Software) to manage our clients, business and store important information etc.
8. Our clients are classified in our CRM.
9. We use client classification when scheduling appointments, managing workflow and prioritizing ideal clients first etc.
1. We consistently collect and document personal information on our clients\' family, occupation, recreational interests, money etc.
2. We store this information on our clients in a CRM or spreadsheet.
3. We use this information to create a more personal client experience for our clients.
4. All team members have access to this information.
5. Our team members consistently review this information prior to making outbound calls or conducting meetings with clients.
6. Our top clients receive highly-personalized service because of this information.
7. We effectively use AI tools for recording or summarizing client meetings & notes.
1. We have an environment that is client centered.
2. Our clients feel that we provide an exceptional client experience.
3. We provide consistent ongoing service to our clients.
4. We have services that we offer our clients that are non-financial related.
5. We focus more time on, or provide more service for, our best clients - the ones we would like to replicate in our business.
6. We have a consistently updated and documented service model.
7. We have meaningful interactions with our best clients on their birthdays or anniversaries (cards, phone calls, gifts etc.).
8. We have meaningful interactions with our best clients on special holidays (Thanksgiving, Christmas, Hanukkah, Independence Day etc.).
9. We recognize important life events or moments of truth that occur in our client\'s lives.
10. We call our best clients on a scheduled consistent basis.
11. We proactively schedule Review Meetings with our clients.
12. We deploy a service model that allocates our time according to our clients\' classification.
13. We utilize technology (CRM, calendar etc.) to automate our processes to ensure consistent delivery of our service model.
1. We have a consistent professional branding strategy in place.
2. Our branding strategy clearly communicates the value of our team, our practice, our philosophy and our process.
3. We have a consistently updated website for our business.
4. Our website clearly communicates the value of our team, our practice, our philosophy and our process.
5. All client facing materials are formatted and professionally branded.
6. All marketing materials are formatted and professionally branded.
7. We consistently deploy a social media strategy.
8. Our social media strategy clearly communicates the value of our team, our practice, our philosophy and our process.
9. Our marketing strategy includes video, podcast, TV, radio or other similar mediums.
10. Our video, podcast, TV, radio or other similar marketing clearly communicates the value of our team, our practice, our philosophy and our process.
11. We have branded or named our client experience and financial planning process so that our clients can better conceptualize our value.
1. We know the number of services that we provide for our clients.
2. We know how our clients perceive and describe us.
3. Our clients understand all the services that we provide.
4. Our clients know what they can expect from us.
5. We effectively communicate the value of our philosophy, planning strategy and our process to our clients.
6. We effectively communicate with our clients, in a way that makes them feel that we are focused on their needs/issues.
7. We communicate to our clients that we have a process in place.
8. Our clients understand our philosophy around our financial process.
9. Our clients understand our planning strategy.
10. We keep our clients consistently informed and up-to-date on our business.
11. Our clients understand and appreciate everything that we do for them.
12. Our clients understand our value.
13. We effectively use AI tools to improve client communication (assist with writing emails or letters etc.).
1. We have defined who our ideal client is.
2. We have a documented ideal client profile.
3. Our Ideal Client profile is based on more than just assets or revenue, and includes attitudinal qualities, socioeconomic factors and advocacy or number of introductions from clients.
4. We have clearly documented the clients that are not a fit for our business (Knockout Factors) based on characteristics, attitudes, demographic and socio economic factors.
5. We have communicated our Ideal Client profile to our entire team.
6. We have communicated our Ideal Client profile to our clients.
1. We consider ourselves referable.
2. We have a process in place for client introductions.
3. Our clients know how to make an introduction to us.
4. We consistently position to our clients, that the concept of an introduction is a value-added service that we provide for the friends and family members of our clients.
5. We receive consistent introductions from clients.
6. We actively track the number of introductions we receive from clients.
7. We consistently convert introductions into actual clients.
8. We track how many introductions become new clients.
9. We thank our clients who make an introduction (thank you card, phone call etc.).
10. Our clients introduce quality clients to us.
11. Our clients do NOT have the perception that we are too busy to take on new clients.
12. Our clients know that we have capacity to take on new clients.
1. We have a formal documented process (step-by-step) for engaging with a prospective client.
2. We follow a consistent meeting format with our prospective clients.
3. We follow a consistent meeting format for onboarding new clients.
4. We use agendas in client meetings.
5. We use consistent communication in meetings with clients.
6. We provide an introductory kit to prospective clients ahead of the first meeting, which provides information on our team, practice, philosophy and process etc. (not a sales brochure).
7. We confirm appointments with clients.
8. We have a set criteria that outlines whether a client is a fit for our business.
9. Our initial appointment(s) with prospective clients are to determine mutual fit.
10. We have a process for those prospective clients who are NOT a good fit for our business, and whom we will not be taking on as a new client.
11. We have a formal process to welcome new clients onboard (Greeting Card, Letter, welcome gift, phone call etc.).
12. We have received referrals from a new client within a month or two of onboarding them.
13. We provide our clients with access to a user friendly technology platform that provides insight into their financials/investments, planning etc.
14. We give our new clients a Personal Financial Organizer (PFO) or similar tangible take-away that supports our ongoing relationship.
15. One person on our team is responsible for managing the New Client Process.
16. We communicate our new client process to our existing clients so they will be more comfortable introducing us to people they know.
17. We have documented scripting or bullet points that outline what we communicate in our meetings with clients.
18. We use a CRM or other technology to manage and automate our new client process.
1. We work with strategic partners or other centers of influence to create a more rounded experience for our clients.
2. We have a formal process to engage with our clients’ accountants, lawyers and other service providers.
3. We have someone on our team responsible for managing the creation and ongoing development of our strategic partner network.
4. We have defined the criteria for what makes an ideal strategic partner, to ensure we only engage with those who are a fit.
5. Our strategic partners know who our ideal client is.
6. We are actively introducing our clients to our strategic partners.
7. We track the introductions received from our strategic partners.
8. We ask our clients how their experience is with our strategic partners to ensure they continue to meet our standards.
9. We capture important information on our strategic partners as it relates to their family, occupation, and recreational interest etc.
10. We have implemented an ongoing service model with our strategic partners to ensure a lasting long-term relationship (ongoing calls, lunch meetings, Thanksgiving or Birthday card etc.).
1. We have a consistently updated Organizational Chart.
2. Everyone on our team is clear on their role and responsibilities.
3. We have documented the roles and responsibilities of our team members.
4. Everyone on our team has a written job description.
5. Our staffing level is appropriate for our advisory practice.
6. We currently have little to no activities that reduce our productivity and should be delegated or outsourced.
7. We delegate or outsource activities that reduce our productivity.
8. We have regular team meetings (weekly, monthly etc.).
9. We use a consistent agenda for our team meetings.
10. We proactively manage our team in a way that demonstrates leadership and promotes a positive culture.
1. If we, or one of our team members, took a month off tomorrow, we feel confident that our business would continue to run well.
2. We have documented our systems and processes in a Playbook (Procedures Manual, Standard Operating Procedures Manual etc.).
3. We have a coordinator or person responsible for managing the Playbook.
4. Our team knows where our Playbook is stored, electronically or in hardcopy.
5. We have a standard format for each process documented within the playbook.
6. We have a process for consistently keeping the Playbook up to date.
7. Our team is consistently implementing processes based on the playbook.
8. We have automated processes within our CRM or other technology (based off of the playbook).
1. We consistently have individual meetings with each team member.
2. We use an agenda in our individual meetings with our team members.
3. We actively listen to our team members, and encourage constructive feedback from them.
4. We celebrate accomplishments and achievements of our individual team members.
5. We regularly identify ways to continue to help our team members be more successful in their role.
6. We are confident that our process can identify any performance issues that we need to be concerned about or take action on.
7. Our compensation and/or profit sharing packages align with the objectives of the firm.
8. We have outlined clear career paths for our team members and know how it will affect our business.
9. Each team member is clear on their goals and how it impacts the business.
1. Our team communicates well with each other.
2. Our team communicates well with our clients.
3. Our team members have a good sense of their own communication style and behaviors.
4. We have an action plan for enhancing communication among team members.
5. We have an action plan for enhancing communication with clients.
6. We have a culture of continuous learning and professional development.
7. Each team member has identified their strengths and weaknesses, and how to leverage or overcome and improve on them.
8. We make continuous learning options available to our team members.
1. Client events are an ongoing part of our overall client experience.
2. We host regular \"value-added\" or \"lifestyle\" events for our existing and prospective clients.
3. We host regular \"educational\" events for our existing and prospective clients.
4. We host regular events that are exclusive to our best clients.
5. We have a well-defined process to successfully plan every client event.
6. We have a well-defined process to successfully deliver every client event.
7. We have a well-defined process to successfully follow-up on every client event.
8. We send professional event invitations and/or tickets for each client event.
9. We leverage strategic partners or other centers of influence by inviting and/or having them as guest speakers at our events.
10. We have identified someone on our team to coordinate and manage client events.
11. We have determined our client event topics, dates, time and frequency for the year ahead.
12. We ask or survey our clients to generate ideas and topics for client events.
13. We ask or survey our clients on their experience with our client events.
14. We receive positive feedback on our client events.
15. Our existing clients look forward to attending our events.
16. Our client events attract good quality prospective clients.
Breakdown Report
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items you can address,
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