Wellness Check

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For many of us, the term “wellness” calls to mind our physical and personal well-being as humans; and a “wellness check” might include annual doctor visits and bloodwork to make sure all our systems are operating as they should. After all, these checkups are the only way to truly see what’s happening under the surface for our health and longevity. 

But when was the last time you considered checking on the health and wellness of your Advisory firm?

Just as it’s important to check your physical wellness markers each year, it’s crucial that financial advisor business owners take a look “under the hood” of their day-to-day business operations to ensure the growth of their company long-term.

But what does this process look like?

In many ways, it is not unlike gathering and collecting client data before putting together a financial plan. First, we take a look at the big picture, then dive into the more relevant details, in order to make solid, actionable suggestions on how to improve your firm’s well-being. 

The 8 Key Markers of Our Business Wellness Check

What’s holding your business back? Do you know?

Oftentimes it’s easy for advisory firm owners to identify their struggles, but not necessarily where the struggles originate from. Is it Marketing? Integration? Business Operations? Staff? This is where the wellness check comes in.

What areas of your firm are most important to your well-being?

Each of these core components of your business has the ability to stifle overall growth and/or negatively impact another, so it’s important to identify where the weak links are. Then you’ll know where to allocate your energy and your budget to make the most impactful changes.

Your Wellness Check Results

After some data collecting, benchmarking and reviewing on our part, we will make recommendations based on both the benchmarking data presented and our professional expertise in the industry. You will receive a report with “Challenges  and Recommendations” for each of the eight key areas.

Our recommendations may include suggestions ranging from adding new team members to building out a new compensation and incentive plan or even trimming some clients who no longer fit into your service model.

With the results of the wellness check in hand, The Strategic Implementer is then able to provide you with the resources, tools, and the implementation plan you need to get started bringing up the lagging areas.

 Implementation: DIY or Guided

How you’d like to implement the suggested changes for positive growth is up to you! You may decide that you can handle the changes internally, or that you’d rather employ us as your guide to help you through the process and keep you and your team accountable to making the necessary changes.

We will also provide a suggested timeline for all of our recommendations. This will help you narrow your focus…you don’t want to start making changes only to be in the same place six months from now.

Wellness Today and Tomorrow

Performing a wellness check of your advisory firm provides you with invaluable information you can use to build the firm you envision. And performed regularly—such as once a year or once every few years—the data from these wellness checks can be compared against one another to help you identify subtle changes that may be stifling your growth.

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