What does your firm do if you must evacuate your office for a couple of days or even weeks? One of the best ways to approach this in the short term is to develop a reciprocal arrangement with another advisory firm where you can share resources in the event that a disaster strikes. For example, for some firms that have a greater potential to be evacuated (because of hurricanes, for example), they have identified another firm, perhaps further inland where a storm is less likely to affect them, that can help support their temporary relocation needs. This might be as simple as just using the other firm's conference room for a couple of days until the displaced firm can get back in their office or find a new location. Be sure to select a firm that uses similar systems as your firm (e.g., portfolio management, contact management, trading, custodian, etc). Of course, you will keep your confidential data separated, but using the systems just helps reduce some of variables in re-establishing your programs.
ThinkAdvisor's TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business.
STP can be described as electronically capturing and processing transactions in one pass, from the point of first 'deal' to final settlement.
This complimentary report discusses those powerful benefits in detail along with a wide range of planning applications.
By creating an informed, well-thought-out business plan, you can navigate today’s challenges and set a course toward growth.
Mar 21, 2017
Americans are living longer and healthier lives, and these added years can create new challenges for retirement income planning.
Feb 07, 2017
The DOL fiduciary rule is quickly approaching the first compliance date, effective April 10th, with full implementation starting January 1, 2018. Is your business on...
Jan 31, 2017
For many, the New Year means new technology being implemented at the practice. One of the biggest challenges facing advisory firms today is getting the...