The Ensemble Practice : A Team-Based Approach to Building a Superior Wealth Management Firm
| Year of publication: |
2012
|
|---|---|
| Authors: | Palaveev, P. |
| Publisher: |
New York : John Wiley & Sons |
| Subject: | Anlageberatung | Financial advisors | Finanzdienstleistung | Financial services | Unternehmenskooperation | Inter-firm cooperation | Partnerschaftsgesellschaft | Professional partnership |
| Extent: | Online-Ressource (242 p) |
|---|---|
| Series: | Bloomberg Financial Ser ; v.568 |
| Type of publication: | Book / Working Paper |
| Language: | English |
| Notes: | Description based upon print version of record The Ensemble Practice: A Team-Based Approach to Building a Superior Wealth Management Firm; Copyright; Contents; Introduction; Acknowledgments; Part I: Structuring an Ensemble; Chapter 1: The Ensemble Defined; The Ensemble Concept; Ensemble Demographics; Ensembles Are More Profitable and Valuable; Clients Prefer Ensembles; Should Everyone Be an Ensemble?; What's Next and Who Should Read on; Notes; Chapter 2: The Ensemble Structure; The Service Advisor Model-Leverage; The Emerging Partnerships-Sharing; Sharing Office Space; Sharing a Brand Name; Sharing Staff; Sharing Clients and Profits The "True" Ensembles-Leverage and Sharing CombinedManaging Advisors; How Many Service Advisors to Hire?; Is There a Place for a Third Level of Advisor?; Departments; The Super-Ensemble Firms; Multiple Lines of Business; Multiple Locations; The Firm as a Platform or a Franchise; When Large Becomes Too Large; Notes; Chapter 3: Growing into an Ensemble; The Right Time to Hire; Whom Can You Hire?; Structuring Client Service; Service Advisors and Client Relationships; From Support to Relationship Management; From Relationship Management to Ownership of the Client; The Hiring Process The Selling QuestionThe Equity Question; Making the Decision; Notes; Chapter 4: Merging Together; Your Shared Strategy; Your Shared Values; The Data; The Business Plan; Partner Roles and Compensation; The Deal; Mergers of Not So Equals; The Deals after the Deal; Owner Rights; Making Decisions as Partners; Buy-Sell Agreements, Retirements, and Breaking Up; Communicating the Deal to Clients and Employees; Notes; Chapter 5: From Silo to Ensemble; Creating a Shared Bottom Line; The "Mine, Yours, and Ours" Model; Assign Management Responsibilities; Share Client Meetings; The Prenup Change Your ThinkingNote; Chapter 6: Partner Responsibilities and Partner Compensation; Labor versus Equity; Using Profit Centers or Silos; Setting Owner Base Compensation; Salaries; Payout Systems; Draw Systems; Benefits; Owner Bonuses; The Role of Equity Ownership in Income; Discretionary Expenses and Perks; Partner Compensation Discussion Worksheet; Part II: Managing an Ensemble; Chapter 7: Creating Ensemble Culture; Establishing Priorities and Values; Customers-Service as Culture; How We Deal with Each Other; Performance as Part of the Culture; Conflict; Promotions; Who Owns the Client? Mom and DadTribes; Manage Yourself; Notes; Chapter 8: Making Partner; When Can You Add a Partner?; Whom Do You Want as a Partner?; Revenue Contribution; Management Contribution; Character; Presence; Intellectual Contribution; Is Partnership Only for Advisors?; How Do They Buy-In?; Valuation; Financing; Alternatives to Full Partnership; Income Partnerships; Phantom Stock, Stock Appreciation Rights, and Stock Options; Profits Interest; Why Do You Promote Partners?; Notes; Chapter 9: The Big Idea; Four Stages of Growth; Steps to Institutionalizing; Notes Chapter 10: Managing Professional Compensation |
| ISBN: | 978-1-118-20954-7 ; 978-1-118-22869-2 ; 978-1-118-20954-7 |
| Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10011827628