This article examines how compensation errors, both overpayments, and underpayments impact your firm’s bottom line. It’s easy to see how overpaying your financial advisors can hurt your bottom line, but making the connection between underpaying your advisors and...
Are your back-office operations functioning as efficiently as they should be? Maybe you're unsure. Or perhaps, you've got a good idea that they're in need of improvement, but you're not sure where to begin, so you put off addressing it. Or, worse yet, you convinced...
Spreadsheet Dependency Dependency on spreadsheets exposes an wealth management firms to risk, especially when they rely on spreadsheets for their business-critical functions (such as managing their incentive compensation program). If spreadsheets play an integral role...
How much time does your advisor team waste on shadow accounting? In the world of incentive compensation, shadow accounting is the process in which a salesperson tracks their production separately, creating and maintaining a parallel record so that they can...
Single Points of Failure Do any of these sound familiar? “We better not lose John, or we won’t be able to pay our advisors for weeks.” “No one can cover for Jane, and no one wants to learn pivot tables.” “John plans his vacation around month-end closing.” If so, then...