Financial newspapers and magazines send out questionnaires to thousands of advisors about our financial planning approach, outlook on markets, growth of our business over 1, 3, and 5 years, and client retention. Each media outlet has algorithms and criteria, and each questionnaire is different and forces us to solidify our outlook, and evaluate our business. They want it to be an objective list of “best practices” in the nation.
There is a priceless “side effect” that comes along with this process. Just as we believe it is important for every client to look at their financial plan once a year, it is important for us to look at our business plan throughout the year also. This provides a level of objective benchmarking for us, because we cannot exert any influence in the rankings.
Instead of just working in the business, we also work on the business. We have a responsibility to make sure we will be viable through every market environment, and continue take steps to be able to provide this service to many generations of families.