A year ago, I brought four other advisors together to form a “mastermind group” to discuss best practices for managing our practices. Three of us are fee-only RIAs and two are affiliated with broker-dealers. There are three woman and two men, and we’re all younger than 35; two bought practices and three started from scratch.

We hold weekly video calls, but recently we had a three-day retreat in Austin, Texas. We all found getting together in person to be more beneficial than meeting by video. We planned our event for three months and found our advance planning to be especially beneficial.

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