Too many owners of financial advisory practices aren't thinking like businessmen.

"There's still an employee mentality, even if an advisor is the founder or principal of a firm," says Jeff Concepcion, founder and chief executive of Stratos Wealth Partners. "Owners will pay themselves a nice income, but they're not acknowledging the balance sheet."

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access