Advisory Firm Success Story

PROBLEM TO SOLVE:

   •    Unable to expand the client base
   •    Unable to attract hires at all levels
   •    Frequent technology setbacks
   •    Staff overloaded
   •    No ability to scale the business and ensure providing quality service due to lack of
         processes

 

SOLUTIONS RECOMMENDED & IMPLEMENTED by COO

CRM: Redtail enhanced through massive cleanup and reorganization of contacts
DOC MGMT: migrated from server to Net Documents and integrated with Redtail
DICTATION: implemented Mobile Assistant and integrated with Redtail
PORT MGMT: Portfolio Center Back Office and integrated with Redtail
EMAIL: move from outside IT firm & alternative host to Redtail Zimbra and integrated with Redtail
EMAIL DRIP: Redtail Broadcast Email
FORMS: Laser Apps and integrated with Redtail
HARDWARE: dual monitors, desktop scanners
WEBSITE: DNS Exit Strategies
STAFF: promoted Operations Manager to COO, attracted 2 hires into client service and para-planning roles
OUTSOURCED: Portfolio Back Office, IT Provider
PROCESSES: Sales Pipeline, Prospect to Client, New Client On Boarding, Annual Client Servicing (meetings, holiday, birthday, newsletter, reporting), Annual, Financial Plan Prep, Marketing

SUCCESS!

WITHIN JUST 5 MONTHS:
 
   •    AUM growth of $31 million
   •    Saved $20,000+ due to elimination of local server system
   •    Increased productivity of current staff by 50%+
   •    Executed client communications plan to increase awareness of services
   •    On boarded clients quickly due to form filling process & integrations
   •    Increased client profitability
   •    Attracted 2 new hires
   •    Increased valuation leverage for eventual merger with very large East Coast RIA
         firm



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