Anyone who has had to save copious amounts of paper knows the frustration that mounts as storage space dwindles. That becomes even more apparent to someone who works from a home office. Bob Adams, owner of A Safe Harbor in Winter Park, Fla., knows how important it is. That’s why he lists a filing system as one of the “must haves” of any home office. He uses the old-fashioned version: filing cabinets.
But what is an advisor to do when paper begins bulging and the file-cabinet doors stop closing? Neal Zimmerman, an expert in home workspace, says the solution is simple, yet overlooked. Separate files into three categories: dead, dormant and active. If stuff is truly dead and can be gotten rid of, throw it away (shred it first if it contains sensitive information). If files are dormant, store them in the attic or the basement where they aren’t taking up valuable office space – leaving more room for the active files which pay the bills.
Zimmerman says a detailed Word file can keep track of what is in every box, making file retrieval much easier.
One of the essentials, as always, is employee education.
Nearly half of them outperformed their passive counterparts in the past year, but the longer term tells a different story, Morningstar finds.
Jim Brannen has been with the company for 29 years.
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