Comments on: Picking Up the Pieces With a New Client

By: Christopher Hensley

Christopher Hensley — Fri, 22 Jan 2010 15:20:28 +0000

I agree with Ramon. Every time I read it there is something I can take with me.

By: Ramon Carpio

Ramon Carpio — Wed, 20 Jan 2010 18:21:43 +0000

Thanks for your help. I do not think you know how valueable your blog has been to those that do not want to deal with corporate politics anymore and are looking for independence. Thanks for your work.

By: Mike Patton

Mike Patton — Tue, 19 Jan 2010 04:22:02 +0000

Ramon,
My staff is me and my wife who works part time. I use Morningstar’s Office Edition for research along with Quotestream which is provided through my custodian, TradePMR. New clients (marketing) comes from existing clients and people I know. I conduct all my own research pertaining to managing my clients portfolios rather than “farm it out.” Most, if not all “client issues” are handled by my wife. I create all financial plans. The ideal support system? Of course, at this time it is small. Based on my experience in prior years, I think one advisor could use 2 to 3 support staff. I was a principal for a bank operation from 2001 to 2003. We had 2 assistants and 3 advisors. 1 assistant was responsible for all insurance paperwork and setting appointments and the other processed all other paperwork.
I hope this helps.
Mike

By: Ramon Carpio

Ramon Carpio — Sun, 17 Jan 2010 21:16:50 +0000

This one brings up a good question. What does your staff look like Mike? I know you have family helping you but I’m curious with all the different aspects of running a financial planning business, what does your support staff look like? How do you find time to research what you don’t know when it comes across your desk, market your services, manage portfolios, follow up on client issues, create the financial plans etc. and what would you say is the ideal support staff system?