You are sitting on a dock in a comfy Adirondack chair on a hot day, with a glass of lemonade filled to the brim with ice cubes. You decide to pick up a good book. You can’t get into a new mystery novel for some reason so you turn to your business books. You are a student of the industry, a life long learner, and you have a library of good books. Before you sit down into that comfy chair on a hot day, consider picking up one of these books. I chose them based on practice management topics for financial advisors and wealth managers focusing on productivity and capacity.
1. The 5 Choices: The Path to Extraordinary Productivity, by Kory Kogon, Adam Merrill and Leena Rinne, published by Simon and Shuster 2015 : This book is backed by science and Franklin Covey’s years of experience and research in this field. The 5 Choices will help a financial advisor or wealth manager increase their productivity and develop an inner sense of fulfillment and peace. The five choices are simple but require a radical shift in mindset and will lead to increased personal and professional success.
2. The Ensemble Practice: A Team-Based Approach to Building a Superior Wealth Management Firm, 2012 by Philip Palaveev Bloomberg Press 2012 . Why do ten percent of wealth management firms grow faster than the rest of the industry, often despite the turbulence of the markets? The answer, according to industry consultant and researcher, P. Palaveev, is that the most successful firms are those which, create and promote a team-based service model that serves as the foundation of their enterprise.
3. Succession Planning for Financial Advisors, + Website: Building an Enduring Business by David Grau Sr. Wiley Finance, June 2014 With all the succession discussions, why not just get it done. This book is a step by step guide and will challenge you and everything you think you know about succession planning.
4. Technology Tools for Today’s High-Margin Practice: How Client-Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours, by David J. Drucker and Joel P. Bruckenstein , Bloomberg Press 2013 With robo-advising on everybody’s radar screen, this will help financial advisors focus on what they can control, their processes. In a new revised edition of the “bible” of practice management and technology for financial professionals, two leading financial planners, with some help from their friends, deliver the knowledge advisors have been begging for.
5. The One-Page Financial Plan: A Simple Way to Be Smart About Your Money – Portfolio publishing March 2015 by Carl Richards, Time to check out www.behaviorgap.com Carl Richards is a CFP , CERTIFIED FINANCIAL PLANNER™ and the director of investor education for the BAM Alliance. Through his simple sketches, Carl makes complex financial concepts easy to understand. For your clients as a financial advisor or wealth manager, no matter what happens, this book will help you bridge the gap between where you are now and where you want to go.
Next summer I will add my newest book to the list. I finally updated my book “ Guerrilla Marketing For Financial Advisors, Innovating financial advisors through practice management” coming this winter. Enjoy your summer reading and build your financial advisory practice!
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