Create a model practice

The challenge: Leading the business

We have seen that financial professionals increasingly find themselves in a position where they need to deploy their resources more effectively for long-term business sustainability. First, teams should, in our view, work to unlock capacity by ensuring the right resources- people, technology, and more- are matched to the right opportunities. Next, we believe they must focus on sustaining the organic growth that we've seen help drive long-term viability. Finally, financial professionals, in our view, need to shift from a practitioner mindset to a CEO perspective, moving from day-to-day management to strategic leadership aligned with their vision.

Our solution: A model practice

Our program, “The Model Practice,” aims to help financial professionals run a high-performance practice from the perspective of being the CEO of their business. In other words, it seeks to help them transition from the mindset of a financial professional/practitioner, who might be simply focused on tactics of the day-to-day, to a leader who’s focused on more strategic decisions. Here’s how:

1. Keys to unlocking value in your business
We use a house as a metaphor to focus on the structure of a financial practice. In our view, that house, a practice, has four rooms: new business development, wealth management, client service, and practice management. We'll work to help you address the biggest challenges and opportunities of each and highlight the key areas of focus that we have seen influence the sustainability and valuation of a practice.

2. The role of model portfolios
We’ve seen that financial professionals who use models are able to dedicate more time to critical client services and new business development. This allows them to work to make sure they have resources to continue to grow. Using portfolio managers to handle a portion of your investment needs may create an opportunity to reallocate your time to your clients, your practice, or yourself.

3. Integrating model portfolios in your practice
Once you determine that using models is in the best interest of your clients, we've found that you'll need to articulate the strategy in a clear and compelling way. Words matter. What you say, how you say it, and when you say it may determine the value clients place on the approach. "The Model Practice" program provides key talking points and suggested language designed to help you confidently explain the potential benefits of model portfolios, address common client questions, and reinforce how this strategy might support their financial goals.

Learn more

• Read “The Model Practice” program overview.
• See how to help meet your client's objectives with Invesco model portfolios.¹