Profitability [Episode 30]

When it comes to generating positive revenue, it’s easy for advisors to end up focusing on the wrong things. In this episode, Matt and Micah dive into profitability metrics and discuss the key tips and tricks they use to stay on track. If you’re interested in improving in this area, then this conversation is for you.

Listen in to get a new perspective on how pride and chest-pounding factor into this and what advisors should really be focusing on. You’ll learn where integrity comes into play, where expenses get out of hand, the different accounts that are important, and more.

Listen to the Full Episode:

What You’ll Learn In Today’s Episode:

  • How Matt and Micah tie client goals into the conversation.
  • Why they disagree with many advisors on which numbers are most important.
  • What things are included in the NET number.
  • How expenses get bloated and blow profitability.
  • Mechanisms that help prevent staff bloating.
  • How Matt and Micah manage their PNL and cut it every year.
  • Why they have personal development accounts and team accounts.
  • Important action items you can work on now.

Ideas Worth Sharing:

So much of our industry is solving for the gross number. - @ThePerfectRIA Click To Tweet When I’m tracking it for myself—my personal profitability—for me, it has to be really simple. It has to be a formula that I can’t lie to myself on. - @ThePerfectRIA Click To Tweet I never make a hiring decision in a surge time. - @ThePerfectRIA Click To Tweet

Resources In Today’s Episode:

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