Broker Check

Are You Running Your Business Or Is It Running You?

Are You Running Your Business Or Is It Running You?

The process of starting your financial advising business likely began with registering and filing the necessary paperwork with the state and SEC, writing your business plan, and hiring staff. Now, you’re set to be the president.

But many business owners feel their business is running them. Why? The primary responsibility as an owner is growing the business and marketing your product. No matter the size of your business, you can’t afford the time to solve minor problems that distract from the focus of creating new business.

You Should Be Running The Business, Not The Other Way Around

Time is as valuable as sleep, which is what you lose when you can’t focus on building the business. As a financial advisor, you may be selling mutual funds, insurance, and other products. Obtaining marketing information and getting clients is the focus. Start capturing the full productive business day.

Assess Your Daily Activities

Take aim at the “mission critical” activities that only you as the owner can answer. Consider the following:

  • Delegation of duties – Some business owners find it hard to give up duties. The owner must take care of the most important aspects of the business.
  • Emails – You need to have your email set to filter important emails versus those that can wait.
  • Automation Do you have your hands in all aspects of the business? Or do you have a staff focusing on things like payroll, inventory, invoicing, and staff scheduling? Consider the cost effectiveness and time saving aspects of automated software packages. Many are free or are available at a reasonable cost.

Whittle down your duties to the main tasks that focus on business marketing and revenue generation, allowing you to run the business instead of it running you. Now, what if you find your business leads and contacts aren’t converting into sales?

Invest In Yourself

  • Sales training courses – Many courses are available that focus on Certified Fund Annuity and Estate/Trust Specialists. Courses can ease compliance concerns, educate on regulatory changes, and help increase sales.
  • Conferences As a business owner, you know the value of networking. You need to promote and listen to new trends and ideas from other owners.
  • Prospect clients – Ask pointed questions. Why did you seek financial advising? What are your short-term goals? What problems with your finances keep you up at night?

Know What Clients Look For In A Financial Advisor

Sometimes business owners are caught up in their own ideas and strategies for obtaining clients, forgetting to research and ask, how do people choose a financial advisor? The Wall Street Journal lists tips for people seeking an advisor:

  • Look for a certified financial advisor.
  • Consider the fees: commission based versus flat fee.
  • Check into the firm’s code of ethics.
  • Referrals are a major part of a client’s decision on what firm to employ.

Grab The Business By The Horns

Time is the nucleus and it’s imperative that an owner uses their unique understanding of the business to spearhead initiatives, stimulate staff, and create business opportunities. Start delegating responsibilities, evaluating employee solutions for cost management, and make use of advanced software and automation as well as keeping up with industry trends and networking.

Most importantly, be in touch with what clients are looking for in a financial advisor so you can effectively run the business rather than the business run you.

Next Steps

We invite you to take a look and see if Freedom Wealth Alliance is the right firm for you…and us. You can learn more about our advantages by visiting You can also email us at or call Kurt Rozman at 262-798-7979.

About Freedom Wealth Alliance

Freedom Wealth Alliance is a Registered Investment Advisor providing a home and multiple affiliation options for financial advisors seeking business growth and/or succession planning, operational excellence, and turn-key placement. We created this firm to relieve your stress no matter the stage of your firm. We take the burden of running the business off your back, so you can spend your time doing what you do best and love the most. If that means spending more time with clients and prospects, you can. If that means spending more time with your family, just do it. Visit and sign up for a free account to access all the tools and resources we have developed to help you transition to true freedom and business ownership.

For financial professional use only.

Explore Freedom Wealth Alliance