Business planning Archives - Byrnes Consulting, LLC

Achieve Your Goals

How to business plan better
In 2019, Byrnes Consulting is once again providing helpful advice to FPA members as part of the Financial Planning Association’s Coaches Corner, focusing on bus

Stuck in a Rut? Steps Toward Breaking Free

Find yourself doing the same thing over and over?
Often we see people and their organizations stuck in a rut even though they know they should make improvements.

Start Asking Clients About Digital Assets

A whole new digital world is evolving all industries, including the financial planning profession.
Digital assets are having an impact on estate planning.

Business Growth Strategies for Financial Planners

We are proud to announce…
Byrnes Consulting is part of the new Financial Planning Association’s Coaches Corner.

An Owner and NextGen Conflict

Fuzzy growth plans can lead to poisonous office dynamics.
When trying to help, often consultants have to look past the symptoms of a problem to get to the heart of the issue.

Experts Share Excellent Advice For The Future

Mike Byrnes, President of Byrnes Consulting, recently attended the 2018 TD Ameritrade National LINC Conference held in Orlando, FL.

Are You Fighting Enough With Your Partner?

The key to a healthy relationship is good communication. On the other hand, confrontation can be difficult, especially when it comes to business relationships.

The Hidden Issues in Advisor Compensation

Adding to staff or even compensating existing employees can be a challenge for many businesses.

How to Get Your Firm Growing Again

Four ways to help grow your business
Too often successful firms hit a wall when it comes to growing their business.

5 Ways To Improve Marketing ROI

Marketing is a critical business activity that can increase the success of any organization.

A Vision For Your Success

Knowing what you want is the key to getting it.
Those that are more successful usually have a clear vision.

How to Get More Client Referrals

Want business growth through more client referrals?
There should be more to a referrals strategy than just delivering excellent client service and hoping clients make introductions.

To Problem Solve Get To The Root Cause

To experience more growth, look to improve operationally efficiency.
Also, to be improve operational issues, one needs to be a problem solver.

A conversation between two online marketing experts

Listen to the #HSonAir podcast interview of Mike Byrnes, President of Byrnes Consulting, hosted by Victor Gaxiola, Head of Customer Advocacy at Hearsay Systems.

Prepare for Change

Do you know where the future is headed for your business?
Like it or not, the world is evolving at a rapid pace. Professionals that fall behind are at risk of losing what they have.

Advice from a dozen experts

Mike Byrnes, President of Byrnes Consulting, participated as one of the experts at TD Ameritrade’s National LINC conference.

Robo-Advisor Warns: The Zombies Are Coming, The Zombies Are Coming!

In the movies, Zombies do not slowly take over. They come out of nowhere and spread like wild fire.

Efficiencies, Robo-Advisors and Social Security

At the Financial Planning Association’s national conference there was great keynote content like one address from Michio Kaku, PhD, talking about the next 20 years of technology advancemen

A focus on business advice and personal inspiration

Mike Byrnes covered LPL Financial’s annual Focus conference that had 7,000 attendees in Boston. The event had a private concert by Hall and Oates and many great speakers.

Advisors: Do You Have A Digital Strategy?

The digital era is upon us and advisors will need to adapt if they want to continue to be successful in the future. This was a clear message at the Pershing INSITE conference.

5 Keys That Make Super-Ensemble Firms More Successful

Many advisors can learn from advisory practices with over $1 billion in assets under management.

Growing A Practice The Multifamily Office Way

Many financial advisors strive for the family office model, even if they don’t have the client base to support it.

Grow Better (Organically And Inorganically)

Too often businesses have their growth flatline even though they want to continue their success.

5 Things To Focus On To Be Great In The Future

Mike Byrnes covered the Fidelity Inside Track in Boston for Registered Investment Advisors.

Advisors: How to Plan for the Worst

Too often financial advisors are not prepared for sudden death or disability. They might not think a plan is needed or just do not have time to set up a perfect succession.

Big Data – Marketing’s Evolution

It is no surprise, the evolution of marketing will become more scientific, more calculated and ultimately more effective.

Keys To Business Success – Financial Advisor Best Practices

Attend a practice management workshop called “Keys To Business Success: Financial Advisor Best Practices.

Issues Facing Advisors in 2014

What do you see as a major issue for financial advisors in 2014?
Mike Byrnes, President of Byrnes Consulting, answered this question and was quoted in the December 2013 issues of the NAPFA A

Multi-family office best practices

Whether you are a multi-family office or not, it is easy to learn from the organizations that work with the wealthiest families in the United States.

A NextGen Wake-Up Call

If a business wants to be successful in the future, it needs to develop a focus on the next generation. Financial advisors are not exempt from this fact.

Hands-On Practice Management

Interested in driving productivity and enhancing a practice to perform more like a successful business? Learn about Waddell & Reed Financial Advisors’ Great Practice Solutions Program.

Ten Websites for Advisors and How to Use Them

There is so much great information online that sometimes it can be confusing what to pay attention to and to know what is worth following.

The Introvert in the Office

A large percentage of our population is introverted. Because the extroverts stand out and get the attention, introverts can sometimes be overlooked and not heard.

Top Guns, the NextGen and Social Media

For over 3,000 attendees, this year’s TD Ameritrade Institutional National conference rocked for registered investment advisors.

Mike Byrnes shares expertise at FSI’s OneVoice

Mike Byrnes gave a presentation called “Social Media – A Communications Revolution” at the Financial Services Institute’s largest ever OneVoice 2013 conference, the n

13 Keys to Success in 2013

In the hopes to help financial advisors improve success in the new year, Mike Byrnes shared a baker’s dozen of practice management tips.

12 Business-Improving Articles From 2012

Mike Byrnes wrote many helpful articles for Financial Advisor in 2012.
Read this summary of 12 contributions that can improve your business.

Focus More On Female Clients

There is clear evidence that women will gain more control over financial assets in the coming years.

Our Industry Will Look Different Because Of The Digital Age

Mike Byrnes recently presented for the FPA National Capital Area Chapter on the “13 Keys for Success in 2013.

The Time To Prepare Heirs Is Now

Mike Byrnes recently spoke at a two-day conference in Malibu, California called The Great Wealth Transfer, organized by the Institute of Preparing Heirs.

Finding and servicing elite wealth

The First Annual Elite Wealth Management Conference in Boston covered how an advisor can successfully work with some of the more than 751,000 families worth a minimum of $20 million that co

Four practice management ideas

Get business improving tips from…

Fidelity Institutional Wealth Services
TD Ameritrade Institutional
Schwab Advisor Services
Pershing Advisor Solutions

Read Mike Byrnes’ slides

Election insight and the impact on investors

For many the election of President Obama versus the former Massachusetts Governor Mitt Romney seems too close to call.

Financial Services Social Media

Watch a quick YouTube video with Stephen Selby, Director of Regulatory Services at LIMRA, and Mike Byrnes, President of Byrnes Consulting, discuss the 3rd annual LIMRA and LOMA social media

Cause-Related Social Media

Most for-profit organizations and nonprofits are still trying to figure out how to use social media effectively. One great opportunity is for two separate organizations to join forces.

Want to become an elite advisor?

Mike Byrnes, President of Byrnes Consulting, LLC, recently attended the TD Ameritrade Institutional’s Elite Summit, a type of conference journalists are rarely allowed to cover.

Pershing’s INSITE has President Clinton plus business advice

Mike Byrnes attended Pershing’s INSITE 2012 conference and wrote these articles:
Clinton at Pershing
Read what Bill Clinton, the 42nd President of the United States of America, spoke about

Fidelity shares advice on branding, planning and giving

About 150 Registered Investment Advisors attended the Fidelity Institutional Wealth Services’ Inside Track conference in Boston.

Facebook’s Future

With all the news about Facebook going public, the IPO and stock price received all the headlines.

Helpful information from NAPFA National

Holy cow… The 2012 NAPFA National conference in Chicago, IL had the largest showing since its 2007 National conference.

Mobile Is Modernizing Commerce

Mobile technologies are putting pricing pressure on products and services that never existed before. They are also revolutionizing the buying cycle at every step of the process.

Industry concerns: Trust and succession plans

At the recent Securities Industry and Financial Markets Association (SIFMA) Private Client conference in Boston, 200 attendees, mostly senior executives, converged to talk about issues that

Business solutions: Leveraging philanthropy and technology

Mike Byrnes, President of Byrnes Consulting, spoke at the Financial Planning Associations’ 2012 national Business Solutions conference in San Francisco, California on the topic of leveragi

Don’t Be A Social Media Fool

As social media becomes more frequently used in the workplace, it is important that you implement a policy of what is acceptable when using social networks so that your brand is maintained i

Facebook marketers converge for first FMC

Sheryl Sandberg, chief operating officer of Facebook, opened the FMC, Facebook’s first ever marketing conference, on leap day, February 29, 2012, at the American Museum of Natural History

The Importance of Having an Ideal Client Profile

One thing that commonly differentiates firms that are successful from those that are not, is a focus on getting the right types of clients.

Social Media Talk Of TD Ameritrade Conference

Along with Richard B. Cheney, the 46th Vice President of the United States, Robert M. Gates, 22nd U.S. Secretary of Defense, and Dr. Jeremy J.

Have an aversion to succession plans?

Consider a continuity pact as a vital baby step
Mike Byrnes, President of Byrnes Consulting, wrote an article for RIABiz about the need for advisors to have continuity agreements, even if th

12 Business-Improving Articles From 2011

Read a dozen great articles from 2011 that you might have missed.

Keynote presentation: 12 Keys to Success in 2012

Before you know it, 2012 will be here.

Leveraging Philanthropy

Charitable giving should be done for the right reasons, but financial advisers can also use philanthropy to benefit their practices.

Referral and transition strategies

On Thursday, October 27, advisors came to Washington D.C. to attend TD Ameritrade Institutional’s 2011 Fall Regional Conference.

Unprepared for Succession

Advisors need to stop putting off planning their futures
A new study by TD Ameritrade shows that 60% of advisors do not have a succession plan.

Why We Will Not Forget Steve Jobs (1955-2011)

Whether we know it or not, Steve Jobs has had a significant impact on all of us.
Through his vision, passion and life-time achievements, the world is now a better place.

Growing your firm… What’s your next move?

Once an organization is established, it is time to take it to the next level.

Pershing’s winning advice

There was lots of game-changing advice shared at INSITE 2011, Pershing’s Financial Solutions Conference in Hollywood, Florida. George W.

The inside track from Fidelity’s conference

Mike Byrnes, President of Byrnes Consulting, was the only member of the press invited to attend Fidelity Investments’ recent Inside Track conference.

Charities have a funny way of giving back

Mike Byrnes, President of Byrnes Consulting, LLC, wrote an article for the May/June issue of IMCA’s Investments & Wealth Monitor detailing how if a business supports a charity, it is

What lies ahead and how to plan for it

Want to know…

how our marketplace is going to become untethered?
what is holding our civilization back?
how individuality will change what we buy?
how population changes will impact u

Best minds converge in Boston

Around 300 advisors attended the Financial Planning Association’s Business Solutions 2011 conference in Boston.

Plan for Success

It is not too late to plan for a successful 2011 if you didn’t get around to it at year end.
Mike Byrnes shares 10 best practices when developing a business plan.
1. Document the plan
2.

TD’s conference was a touchdown

TD Ameritrade Institutional’s National Conference in San Diego named “Take the Lead” had 2,600 total attendees, including 1,400 advisors.

Develop a team of MVPs

There is a definite correlation between dependable, talented staff and successful organizations.

Top practice management trends

Mike Byrnes shares five trends for financial advisors in 2011 and he provides checklists for handling each.
Read the full RIABiz article to learn more about:
1.

AdvisorTV: Top Priorities in 2011

Pamela Black, editor-in-chief at Bank Investment Consultant magazine, interviewed Mike Byrnes about how advisors can be more successful in the New Year.

Webinar: An underdeveloped revenue stream… strategic alliances

Wednesday, January 12, 2011, Byrnes Consulting’s presented:
An underdeveloped revenue stream… strategic alliances
Mike Byrnes presented on:
• How to determine the best alliance strateg

Big brands bouncing back

Brokerage firms are pulling out all the stops to support their advisors and regain client trust.

Schwab’s event was truly “Impact”-ful

Schwab’s Impact 2010 conference had over 1,700 advisors (of its 6,000 independent RIA firms) in Boston for a four-day conference, the biggest of its type in the industry.

Determining a niche

Target success
By dividing a large population into segments, a business can then position itself to better fulfill the needs of one unique group.

Valuable business tips recorded on a recent radio interview

Mike Byrnes, President of Byrnes Consulting, LLC, was interviewed by Teddy Panos and Kim Saltmarsh, co-hosts of the morning Merrimack Valley radio program on 980 WCAP, covering Greater Bosto

Map out a marketing calendar to succeed

“However beautiful the strategy, you should occasionally look at the results.

Branding a new or existing business

Byrnes Consulting is proud to have written the cover story, “Branding a New Business”, in the September 2010 issue of Transitions Magazine.

Why it pays to focus on a niche

Market segmentation has been a successful strategy for years, yet many do not benefit from implementing this approach.

A foundation for business planning success

Watch this video with five business planning best practices:
1. Have a mission. Know what the purpose of the business is and everything else will fall in place.
2. Put it on paper.

Come out strong in the second half

Here are tips from an article highlighting ten business improving ideas for the second half of 2010.

Are you prepared for the unexpected?

“If you want your business to survive for 100 years, you’ve got to make it through every single day for 100 years. It’s not enough to do it 99.9% of the time.

Know your exit strategy

Ten things to consider if selling a business
1. The mission. What is the purpose of the business? Is there an end goal, or can the firm continue into perpetuity?
2. The plan.

How leaders rise above the rest

15 behaviors of successful leaders
1. Share the mission – The person at the top has to have a vision of where to take the followers.

SWOT it!

For half a century, businesses have been using a simple tool called a SWOT analysis. SWOT stands for four sections: strengths, weaknesses, opportunities and threats.

Avoid common business planning mistakes

Business planning don’ts
Don’t just keep your plan in your head

Putting your plan on paper helps you

hold your business accountable
define your strategies and prioritize major initiati

Business planning

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