Financial PlanningJune 1, 2017
A Roadmap to Hiring Top Talent | Kelli Cruz

Just as advisers are always on the lookout for their next great client, they should also be keeping an eye out for the best and brightest people to join their team. But how can you know which hires are best for you — and your clients?

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Financial PlanningApril 10, 2017
Overcome succession planning paralysis | Kelli Cruz

Succession is an integral part of a broader strategic planning process that seeks to address two important goals: how the business will grow and create value for clients, owners and employees, and how the business will be transitioned to a new generation while preserving its reputation and legacy. Here are four key points to consider when planning a strategy:

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Financial PlanningFebruary 8, 2017
Should your firm be more flexible about flextime? | Kelli Cruz

Take a step back and reassess how flexible your current work environment is and start making plans to incorporate more flexibility into your human capital plan.

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Financial PlanningNovember 29, 2016
Brain drain: How RIAs can hang onto employees | Kelli Cruz

If advisory firms can tackle career development problems before they start, they’ll also solve their succession challenges by developing the next generation of leaders.

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Financial PlanningNovember 18, 2016
Aligning employees with a practice’s goals | Kelli Cruz

One of the keys to a successful firm is creating a goal-setting and performance management process for employees to encourage participation and reward results.

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Financial PlanningOctober 6, 2016
Are performance reviews losing their appeal? Ways to improve the process | Kelli Cruz

The traditional annual performance review is losing favor with some advisory firms. But without a clear approach to reviewing the performance of advisers and other staff members, how can pay raises, bonuses and promotions be determined?

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fa-logoAugust 31, 2016
How Advisory Firms Can Stay Competitive With Employee Benefits | Ben Mattlin

We know the scope and range of employee benefits have changed dramatically. According to a recent study by SHRM, telecommuting benefits alone have risen threefold over the past 20 years, to 60% of employers surveyed.

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Financial PlanningAugust 3, 2016
The Young & Talented: Steps to Attract Gen Y Advisers | Kelli Cruz

Millennials have been portrayed by some as spoiled, lazy and entitled, but the reality is actually much different. In fact, in some ways millennials have an edge over the rest of the workforce.

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Financial PlanningJune 2, 2016
Secrets to Building a Great Advisory Team | Kelli Cruz

What if running an advisory firm felt more like managing a strong college squad, known for its teamwork, rather than a team that merely celebrated its all-stars?

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Financial PlanningApril 21, 2016
Hiring an Intern for Your RIA Practice | Kelli Cruz

In an increasingly competitive job market, firms that link internship programs into their recruitment strategy are well-positioned to compete for the best talent graduating from universities and colleges.

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Financial PlanningFebruary 10, 2016
6 Compensation Myths | Kelli Cruz

Advisory firms spend more money on compensation than on any other expense, so getting it right just makes good business sense. Your compensation plan should define the behaviors you value the most and reflect what you are willing to pay to attract and retain key talent.

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Financial Planning January 4, 2016
Keeping Employees on Track | Kelli Cruz

One of the keys to a successful firm is creating a process for setting goals and managing performance. A performance management process is best when it links execution to compensation. That, in turn, encourages employee engagement.

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Financial Planning October 29, 2015
Overworked and Clients Suffering? Hire a Manager | Kelli Cruz

You know your practice has reached a crucial turning point when you have to choose between serving your clients and growing your business — because you no longer have enough time and resources to do both. Here are the chief signs that the time has come to hire a professional manager.

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Financial PlanningSeptember 1, 2015
Make Hiring a Priority or Get Left Behind | Kelli Cruz

The success of your business is largely in the hands of the people who work for you, and the relationship you and your team have with your clients is in essence your business’ secret sauce. It follows then that one of the most important decisions you can make is who you choose to hire.

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Financial PlanningMay 29, 2015
How to Keep Top Talent from Leaving | Kelli Cruz

Employees are probably the largest cost to your firm, but they are also the foundation upon which the firm’s entire value proposition is built. To maximize employees’ contribution and effectiveness, your firm needs to have a range of programs aimed at investing in them — and making sure your investment pays off.

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Investment NewsApril 22, 2015
Incentive compensation should align with firm goals | Liz Skinner

Advisory firms should examine whether their incentive compensation plans are aligned with the bigger goals they are working toward. Many times they aren’t, experts said. Incentive compensation plans for financial advisers and planners most often are triggered by business growth goals.

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RIA BizApril 15, 2015
Envestnet Gets Matt McGinness as it Launches it’s Advisor Consulting Division | Brooke Southall

Envestnet has hired Matthew McGinness en route to launching a large data-backed consulting division.

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Financial PlanningMarch 16, 2015
Smarter, Easier Ways to Delegate | Kelli Cruz

To be an effective business owner, you must be willing to delegate and relinquish control. Even I admit it can be a scary proposition at times, but it’s a management strategy that will reward you and your team.

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IRISFebruary 17, 2015
Six Steps to Creating a Business Development Culture | Kelli Cruz

Firms that want their advisors to develop new business must create a firm culture that makes generating sales a way of life for the entire firm.  Many firm owners that I talk with share stories of frustration when it comes to getting their advisory staff to take on the vital role of developing new business.

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IRISDecember 12, 2014
Are Your Employees Passengers or Drivers? | Jennifer Specter

An employee engagement survey is a better tool to gauge the involvement of employees in your firm and can go a long way in turning passengers (those employees who are satisfied with their job but not engaged) into drivers (those employees who are truly engaged).

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IRISNovember 14, 2014
Making Your Hires Profitable | Kelli Cruz

One of the most common topics discussed in running a profitable business is when to make the next hire and what should be the role of that next hire.  Many firms are reluctant to make that next hire trying to balance the cost of the hire with capacity.

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IRISNovember 11, 2014
Maximizing the Value of Your People with Your Compensation Plan | Kelli Cruz

Every firm should have a well-documented, thorough compensation plan designed to make the most of your “people investment”. This plan should attract and retain good people; motivate them and boost their performance; and directly tie performance to delivery against the firm’s business plan and goals.

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IRISNovember 3, 2014
Key Steps to a Successful Salary & Review Process | Kelli Cruz

The annual salary and review process is the perfect time to revisit your firm’s human capital strategy and make sure you have programs that develop and retain your talent. The following tips will help you maximize the process.

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IRISOctober 31, 2014
Stop Counting Vacation Days: Good or Bad Idea? | Jennifer Specter

While Richard Branson recently announced that the Virgin offices would be moving to an unlimited vacation time “non-policy”, that may not be a realistic option for smaller organizations.

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IRISOctober 11, 2014
Don’t Overlook the Obvious: The Importance of Job Descriptions | Kelli Cruz

While many firms use job descriptions only when they have an open position they need to fill, we believe the job description is the most important tool in not only attracting new talent but also retaining and managing your current talent.

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IRISOctober 1, 2014
Hiring Tips for Success | Kelli Cruz

As an advisory firm the relationships you have with your clients is what I like to call “the secret sauce” of what makes your business successful.  The people that work in your firm largely drive the value that is delivered to your clients.  So the most important decision you make in the running of your firm is the selection of who joins your firm as a new hire.

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Financial PlanningJuly 23, 2014
Management Tip: Is Your Org Chart Helping You Grow? | Kelli Cruz

One of our past clients came to my consulting firm for help when she realized that her organizational structure lacked scalability. As the founder and sole owner of an RIA with $2.8 million in revenue, she was wearing too many hats: CEO, rainmaker, lead advisor, manager.

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Financial PlanningMay 22, 2014
How to Fix Your Incentive Pay | Kelli Cruz

A majority of employees at advisory firms — both professional and nonprofessional — now receive a combination of base salary and incentive pay, industry studies find. But firms don’t seem to be satisfied with their pay packages and, at my consulting firm, the most highly requested engagement is for designing incentive compensation.

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Investment NewsMarch 26, 2014
Financial adviser: Maybe not the sexiest job, but among the best paying | Carl O’Donnell

A job as a financial adviser may lack the cachet of a position with a white-shoe Wall Street investment bank, but when it comes to salary and flexibility, the industry can make a pretty good pitch.

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Financial PlanningFebruary 11, 2014
Advisors Struggle with Internal Succession | Andrew Coen

While many financial advisors would prefer to have someone within their practice take over upon retirement, not enough are prepared for the internal succession planning process, Kelli Cruz, told advisors here during a presentation on Monday at IMCA’s Consultants Conference.

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