Tibergien Podcast on Practice Management

Part of my semi-daily web browsing habit is to check out the podcasts available at the Investment Advisor magazine website.  Recently added is a podcast of an interview with Mark Tibergien, the current CEO of Pershing Advisor Solutions.

02/23/2012: The content has been removed. Click here to listen to the Tibergien podcast on IA’s website. (opens an embedded audio player)

In this 10 minute podcast, Tibergien offers his thoughts on five main topics.  He discusses how advisers should:

• Re-examine their practice strategy by identifying the optimal client, service experience, employee, and pricing strategy,
• Avoid cutting costs randomly in response to business volatility, particularly human capital costs,
• Plan for the long term and avoid knee-jerk reactions to declines in firm productivity measures,
• Incorporate strategies for managing clients in the decumulation phase of retirement, and finally,
• Captivate clients by updating service offerings and redirecting personal eduction to best suit client needs.

Tibergien offers interesting perspectives from a big-picture point of view, but it’s up to those of us in the trenches to apply these principles to the daily management of a wealth management firm.  Granted, we certainly could call on the consulting services of PAS to offer some assistance!