April 15, 2010

Pershing Adds Assessment Tool for RIAs

Web-based business evaluator is called Healthcheck

Pershing Advisor Solutions announced Monday, April 12, that it has added a Web tool for its RIA customers called Healthcheck, which provides an assessment of the operating health of those RIAs' businesses.

Pershing said that Healthcheck, developed with Australian practice management group Business Health, was created to maximize growth and profitability for RIAs. Healthcheck is a self-assessment questionnaire comprising more than 100 questions that generates an evaluation of the health of an RIA practice across more than 30 critical functions.

Mark Tibergien, CEO of Pershing Advisor Solutions, said in a statement that "Healthcheck helps independent registered investment advisors identify, in a clear and concise manner, the strengths and weaknesses of their practices." Tibergien, a long-time columnist for Investment Advisor, further said that "what makes Healthcheck stand out is that the tool is part of our consultative process to help advisors grow their businesses."

Some of the areas that Healthcheck evaluates are: client experience; planning and strategy; marketing, product and compliance management; and human capital, which includes recruitment, staff development, and firm culture.

Read the most recent column by Mark Tibergien from the archives of InvestmentAdvisor.com.

Read a news item on an advisor M&A study firms from Pershing.

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