Are You Over Milking Your RIA Cash Cow?
CEO Brent Brodeski wrote an op-ed article for FinancialPlanning.com pointing out that: “Far too many financial advisors naively think that their largest asset (their business) has a lot of value and will someday provide them and their family, a big payday. But year after year, they underinvest in people, process, technology, marketing, and branding. In a sense, they are relentlessly milking their RIA cow (their business) for current cash flow so they can spend a lot on toys and an indulgent lifestyle.”
In his full article, Are you over milking your RIA cash cow?, Brodeski suggests how advisors should reinvest in their business to attract the best clients and create salable enterprise value.