Lee Gjertsen

Managing the growth of a small financial advisory firm is tricky but important as planners face decisions about growing the client roster, adding staff and maintaining work-life balance.

Partnering with local libraries to bring financial education to interested people in her area has been a successful route to prospective clients for Darla Main, of Main Advisory, inc. in McMurray, Penn.

Financial planning professionals Elisabeth Cullington and Janet Acheatel have a passion for working with women who are, in their view, poorly served by the financial services industry. That’s why they decided to form a practice focused entirely on women at San Diego-based wealth management firm HoyleCohen LLC.

Helping with clients with a wide variety of financial planning issues, including tax preparation, is a big part of the strategy at Vintage Financial Services of Ann Arbor, Mich. according to Frank Moore, the firm’s founder and chief investment officer.

Women who are in the middle of a transition -- whether it be a divorce, the death of a spouse, or the inheritance of a large sum of money -- often need specialized financial advice, but many of them may not know where to go, says Kimberly Howard, founder and owner of KJH Financial Services in Needham, Mass.

Hiring staff to help streamline processes and handle the workload can lead to huge growth for financial advisors who are willing to take the plunge, says Chad Olivier, founder of The Olivier Group, a financial advisory firm in Baton Rouge, La.

Making estate planning decisions can sometimes bring up uncomfortable topics for clients, but Holly Thomas, the founder of Holly P. Thomas, LLC, in Tampa, Fla., said it's a vital part of any financial plan.

Organization and communication are key components of both how a financial advisory firm should be run and the work that firm does for its clients, according to Grant Rawdin, president and chief executive officer of Wescott Financial Advisory Group, which has offices in Philadelphia, Miami, Boca Raton and Washington, D.C.

A total approach to financial planning that looks at everything from taxes to 401(k) accounts is an important part of the practice of Troy Von Haefen, founder and owner of Von Haefen Financial Management in Nashville, Tenn.

For Jeff Rose, founder and chief executive officer of Alliance Wealth Management in Carbondale, Ill., one of the best ways to communicate with existing clients and to attract new ones is through his blog.

Working as both a financial planner and a business consultant allows Phil Dyer, founding principal of Dyer Financial Advisory in Towson, Md., to serve his clients’ many needs.

A tight focus on doctors as clients keeps Ara Oghoorian, founder and president of ACap Asset Management, Inc., on top of the specialized needs of his clientele. ACap is a financial advisory firm located in Beverly Hills, Calif.

Growing a financial planning business for the future means developing strong talent across generations and providing holistic planning that goes beyond just investment management, according to the advisors at Dallas-based Lee Financial Corp.

Financial planning, at essence, is “helping people make smart financial decisions,” according to Marc Schindler, a founding partner of Pivot Point Advisors in Bellaire, Texas. His firm helps clients by following a quantitative approach that uses computer modeling and takes the long-view on investments.

Each client’s specific needs should drive the way an investment portfolio is structured, with a focus on aspects of the financial plan such as cash flow, tax planning, and estate planning that can actually be controlled by the client and his or her advisors, according to Charles E. Carrick, a partner at DMJ Wealth Advisors in Greensboro, N.C.

If financial planners want to provide impartial advice to their clients, they should truly be fee-only, instead of charging additional fees on the assets they have under management. So says H. Jude Boudreaux, the founder of Upperline Financial Planning in New Orleans.

Financial advisors can have a successful and personally fulfilling practice serving a less affluent clientele than many target.

Financial advisors need to do more listening to really understand what their clients' want from their investments today and well into the future, a new study finds.

Credit unions and small banks can offer the same high level of investment products and services as other institutions, with the right type of program in place. Helping them do that is Valorie Seyfert, who notes that recent concerns about the credibility of larger institutions “has opened up the opportunity for banks and credit unions – because they do have a loyal following – to step in and fill a gap.”

Younger planners have a lot to offer the industry but can face numerous hurdles to success, according to Joseph D. Pitzl, director of financial planning at Intelligent Financial Strategies in Edina, Minn.