Chicken and Egg: How to Grow Your RIA Practice From Scratch
It takes money to make money. If youre small, you have to get big before you can access the scalable back-office services you need to get big. You need to have scale in your business before you can afford to hire the employees who will give you the scale you need to ramp up.
Yes, running a planning practice takes you into a lot of chicken-and-egg situations, where it seems like you have to have something already before you can get access to it. But, according to Financial Planning columnist Bob Veres, the good news is there are solutions for many of these blind alleys in your business growth.