July 29, 2014
- Senior Manager, Practice Management, TD Ameritrade Institutional
“Working collaboratively with advisors, industry consultants and thought leaders, I work with a team of individuals committed to bringing advisors insights, programs, tools, and resources designed to build sustainable growth and enduring value for advisory firms.”
- Vanessa Oligino, Senior Manager, Practice Management
Lead advisors at maximum capacity. Day-to-day office management tasks being handled “off the side of the desk” by the firm principal(s). No time for new business development. These are just a few of the signs or symptoms of seemingly harmless situations that can potentially inhibit growth, create operational inefficiencies, and impact client satisfaction.
So, what’s the solution? How can you ensure that everyone at your firm is being put to their best use in generating value for the firm? Consider hiring a dedicated manager. Choosing to add a dedicated management role—to help office productivity and efficiency, and to enable growth of the firm—is a big step. Some might even view it as another expense— rather than the opportunity it truly is— to free up capacity for your revenue- generating resources to focus on strategy and grow the firm.
There are two types of dedicated management positions that advisory firms generally add before all others—the operations manager and the chief operating officer. Which one is best for you?