Best Practices in Managing Your Book

The following tips can help make your business more efficient and profitable:

  1. Standardize your processes as much as possible so your staff can work more efficiently. Remember, exceptions cost more money!
  2. Limit investments and suppliers. Develop a good working relationship with the suppliers you do use because they can offer solutions to issues that arise.
  3. Systematically convert your 10% free shares and DSC-free units. B2B Bank Dealer Services can help with our TMF Spreadsheet trading service.
  4. Sweep your accounts for cash on a regular basis. Many investments generate cash that can be reinvested.
  5. Explore other ways to develop your business and value proposition, such as offering group plans, IPPs, insurance, and tax and estate planning.
  6. Seek and retain clients that complement your work and personality style. As your business evolves, some clients may no longer fit with your direction or goals.
  7. Use a nominee platform to increase efficiency and add to the value of your business. A nominee platform is easily transferred, clients are accustomed to the fees, and the accounts are easy to administer.