Financial Services

Strategic Planning with The Practice NavigatorSM

Our comprehensive planning process helps advisors:

  • Define a long-term vision
  • Define target clients & services
  • Develop a focused strategy
  • Deploy a plan to achieve it

Practice NavigatorSM Helps Advisors Address Opportunities and Challenges

  • Multitude of business opportunities
  • Industry changes
  • Losing market share to competition
  • Desire to grow and expand
  • Desire to raise debt or equity capital
  • Vision/strategy lives in the owner’s head
  • Dependency of the business on the owner
  • Disagreement among partners
  • Lack of confidence in firm’s ongoing success
  • Desire to merge with or acquire other firms

A Two-Day Planning Process

Day One

  • Review strategic assessment and top strategic issues
  • Analyze key elements of strategy from four perspectives:
    • Current capabilities
    • Competitive analysis
    • Market forecast
    • The personal definition of success for each partner
  • Decide what key elements will differentiate your firm going forward
  • Define the vision of what the business will become over the next five years as a result of implementing this strategy

Day Two

  • Identify characteristics of your optimal client and refine the strategy around them
  • Identify product and service offering that will best match up and integrate into your firm’s approach to business
  • Clearly define your positioning and your priority for resources
  • Perform a gap analysis based on where you want the business to be
  • Use a gap assessment to identify holes to fill, and prioritize resource commitments
  • Help you to create a calendar of specific goals, including accountability
  • Brainstorm what can be done to make progress in achieving the prioritized goals over the next twelve months
  • Finalize the objectives
  • Establish implementation schedule and accountability