Deena Katz's complete guide to practice management : tips, tools, and templates for the financial adviser

369 Pages·2009·5.26 MB·English

by  Deena B. Katz

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Praise for
Deena Katz’s Complete Guide to Practice Management
Tips, Tools, and Templates for the Financial Adviser
by Deena B. Katz
“The power behind these very practical tools and tips is that they are rooted in
Deena Katz’s solid track record of accomplishment. She matches the theory with
the reality of the business.”
—DALE E. BROWN, CAE
President & CEO, Financial Services Institute, Inc.
“Deena is a true leader in the financial advice industry who has helped build a
hugely successful practice (Evensky & Katz), and who now helps educate future
planners at Texas Tech University. Her experience-driven insights and perspec­
tives, along with various tools and solutions, are now available to you in her new
book. Any advisory firm can benefit from it.”
—TOM BRADLEY
President, TD AMERITRADE Institutional
“Deena Katz is one of the genuine icons in the independent advisory world. After
making Evensky & Katz into one of the preeminent advisory firms in the country,
she’s turned her knowledge and experience toward helping other independent ad­
visers run more efficient practices to better serve their clients. She is a valuable,
and valued, resource for the industry.”
—BOB CLARK
Former Editor in Chief, Dow Jones Investment Advisor
and Financial Planning magazines
“Never has so much useful, practical information been compiled in one place for
the financial advisory practice.”
—BOB VERES
Publisher, Inside Information newsletter
www.bobveres.com
“The chapter ‘The Killer Process’ alone is worth the price of the book. System­
izing your practice is one of the major keys to success in this business, and Deena
gives you a step-by-step guide for doing exactly that.”
—DAVID J. DRUCKER, MBA, CFP
President, Drucker Knowledge Systems
Principal, Virtual Office News LLC
“Deena Katz continues to make important contributions to the business of fi nan­
cial advice. She brings years of practical experience in forming, merging, and
growing a successful advisory firm, combined with insight she has gained as a
teacher of financial-planning principals to college students. The result is a refer­
ence that advisers at every level will find helpful to have handy when trying to sort
through critical practice-management decisions.”
—MARK TIBERGIEN
Chief Executive Officer, Pershing Advisor Solutions LLC
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DEENA KATZ’S

complete guide to

Practice managemenT

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Also available from
Bloomberg Press
Family
by James E. Hughes Jr.
Family Wealth
by James E. Hughes Jr.
Getting Started as a Financial Planner
by Jeffrey H. Rattiner
How to Value, Buy, or Sell a Financial-Advisory Practice
by Mark C. Tibergien and Owen Dahl
The Investment Think Tank
edited by Harold Evensky and Deena B. Katz
Managing Concentrated Stock Wealth
by Tim Kochis
Money Well Spent
by Paul Brest and Hal Harvey
Practice Made Perfect
by Mark C. Tibergien and Rebecca Pomering
Retirement Income Redesigned
edited by Harold Evensky and Deena B. Katz
A complete list of our titles is available at
www.bloomberg.com/books
ATTENTION CORPORATIONS
This book is available for bulk purchase at special discount. Special editions or
chapter reprints can also be customized to specifications. For information, please
e-mail Bloomberg Press, [email protected], Attention: Director of Special
Markets, or phone [phone].
00_Katz_fm.indd iv 11/14/08 7:24:58 AM
DEENA KATZ’S

complete guide to

Practice managemenT

Tips, tools, and templates
for the financial adviser
DEENA b. KATZ

Bloomberg Press

New York

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© 2009 by Deena B. Katz. All rights reserved. Protected under the Berne Convention. Printed in Canada. No
part of this book may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means,
electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the pub­
lisher except in the case of brief quotations embodied in critical articles and reviews. For information, please
write: Permissions Department, Bloomberg Press, 731 Lexington Avenue, New York, NY 10022 or send an
e-mail to [email protected].
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This publication contains the author’s opinions and is designed to provide accurate and authoritative informa­
tion. It is sold with the understanding that the author, publisher, and Bloomberg L.P. are not engaged in rendering
legal, accounting, investment-planning, or other professional advice. The reader should seek the services of a
qualified professional for such advice; the author, publisher, and Bloomberg L.P. cannot be held responsible for
any loss incurred as a result of specific investments or planning decisions made by the reader.
Portions of this book have been previously published in Deena Katz on Practice Management, ISBN 157660070X
and Deena Katz’s Tools and Templates for Your Practice, ISBN 157660084X.
First edition published 2009
1 3 5 7 9 10 8 6 4 2
Library of Congress Cataloging-in-Publication Data
Katz, Deena B.

Deena Katz’s complete guide to practice management : tips, tools, and templates for the financial adviser / Deena

B. Katz.
p. cm.
Includes bibliographical references and index.
Summary: “This edition is a revised and updated consolidation of two previously published books, Deena
Katz on Practice Management and Deena Katz’s Tools and Templates for Your Practice. This new expanded
volume includes Katz’s most recently tested approaches to managing a financial practice and the latest most ef­
fective ways of communicating with clients”--Provided by publisher.
ISBN 978-1-57660-308-6 (alk. paper)
1. Financial planners--Handbooks, manuals, etc. 2. Investment advisors--Handbooks, manuals, etc. 3. Finance,
Personal--Handbooks, manuals, etc. 4. Business enterprises--Finance--Handbooks, manuals, etc. I. Katz, Deena
B., Deena Katz on practice management for financial advisers, planners, and wealth managers. II. Katz, Deena B.,
Deena Katz’s tools and templates for your practice. III. Title.
HG179.5.K38 2009
332.6'2068--dc22 2008041700
Acquired by Mary Ann McGuigan

Edited by Dru-Ann Chuchran

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To Sarah, Daniel, Amanda, and Josh,

who always sit in my corner

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Deena Katz’s Complete Guide to Practice Management,
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