Services

Once we understand your goals, we map your needs to one or more of our core services. Each service involves a personal relationship with a coach who will guide you through the process. Our service packages can be implemented individually or in combination with one another to create a comprehensive solution.


Service Packages


Strategic Leadership

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Our Strategic Leadership package was designed to help the business owner navigate complicated decisions on an on-going basis. We pair you with one of our experienced Executive Coaches who will help you get very clear about what activities are important, and which ones can be delegated. The core of this service is a relationship in which your coach wants to understand your personal goals and priorities and will help you achieve your own personal definition of success.

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Operational Performance Package

Operational Performance

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Our Operational Performance package was designed for practices that need a little help getting organized. We help your team implement specific systems and tools to solve your biggest problem areas. Implementation of most solutions generally takes about six months.

Sometimes practices use the Operational Performance package as a way to get a head-start on goals they set following an In-Depth Practice Assessment.

Other times, practices engage with us for an Operational Performance package after triggering events such as:

• Integrating new clients who were recently purchased
• Defining roles and responsibilities following staff changes
• Implementing new technology to improve internal communication
• Transitioning clients to an AFA
• ...and many more

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Complete Practice Management

Complete Practice Management

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Our proven Practice Management systems are the backbone of success. Every aspect was designed to help financial advisors grow their businesses. Our Complete Practice Management solution gives your team the tools, implementation, and accountability needed to run a world-class financial advisory business. In turn, you will add value to your clients, create a scalable operation, and increase the value of your practice.

Our Practice Management team works with you and your team on an on-going basis. We train your staff using our proprietary systems to streamline workflow, set up model work weeks, and assist with the assigning of specific tasks. Key Management Group's practice management team frees you from the details of running your business and allows you to focus on growing your practice.

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Outsourcing - Case Preparation

Client Meeting Preparation

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Preparing for client meetings can be a difficult and time-consuming task. Unfortunately, many financial advisors conduct “just-in-time” client meeting preparation - sometimes while the clients are sitting in the lobby. This approach minimizes the opportunity for you to provide an exceptional client experience.

Partnering with KMG gives you the tools you need to create a more efficient and successful client-focused practice. Each meeting will be purposeful and organized, adding value to your clients' experience through better service. Our team provides you with everything you need for each individual client appointment.

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Outsourcing - Financial Planning

Financial Planning

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One of the most time consuming tasks within an advisor’s practice is the production of financial plans or written advice that is provided to the client. While software packages have become more user friendly and streamlined, the amount of time spent producing the financial planning continues to consume an enormous amount of time.

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Escrow for Financial Practice

Loan Escrow Service

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An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company.

Escrows are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released. For example, the sale of a financial advisory practice often contains an attrition clause which requires certain metrics to be met before a portion of the purchase price is paid to the Seller. The funds necessary to pay the Seller are held in the Escrow Account and released upon the agreed upon transfer date. The Seller, upon the sale of the financial advisory practice, will know that the funds are available rather than wondering if the buyer has the funds.

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Turnkey Continuity Planning

Turnkey Deal Support Service

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Buying or selling a financial planning practice is one of the biggest transactions that one can make. Mistakes can be extremely costly, and all too often, the terms agreed upon have loopholes and shortcomings, leaving one or both parties vulnerable. Our professional team of experts is here to assist both parties in completing a fair and equitable arrangement. This package includes all steps from assessing the value of the practice, negotiating the deal, forming a transition plan, writing a legal agreement, and providing expertise and guidance along the way. Both parties will walk away with the peace of mind to know the deal was handled correctly.

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Acquisition & Succession Consulting

Acquisition & Succession Consulting

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Navigating the complexity of succession planning issues can be a challenge. In addition to price, there are many more factors to consider when buying, selling, merging, or transitioning a practice. Our experts know exactly what steps to take to ensure a successful deal for all parties involved. Our Consulting service can provide you with guidance and support for all aspects of your transition.

Watch this short introduction video to our Advisor Legacy services
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Turnkey Continuity Planning

Turnkey Continuity Planning

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 Recent studies show that as few as 17% of financial advisors have an actionable succession plan, and fewer than half have a continuity plan to protect their heirs in the event of their death or disability.

Given that one's financial planning practice is likely his/her largest financial asset, why would they not have a protection plan in place?

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Advisor Legacy Practice Sales

Advisor Legacy Practice Sales

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For most successful advisors, leaving a legacy is the most important aspect when selling their practice. While price and terms are important, the fit between buyer and seller is the paramount consideration. Advisor Legacy (http://www.advisorlegacy.com), a web application by Key Management Group, provides a comprehensive platform to find the best match between the buyers and sellers of financial advisory practices.

Watch this short introduction video to our Advisor Legacy services
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HR Assessment

Comprehensive Human Resources Assessment

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The Comprehensive Human Resources Assessment is a full 360-review of your Human Resources practices based upon your state laws and federal laws governing employment. You will complete our comprehensive data gathering process about your current HR practices. We will identify any areas in which you are deficient or subjecting yourself to unnecessary risk. We then provide you with a written analysis as well as a phone consultation to review your results, make specific, actionable recommendations, and answer any questions that you may have about HR rules and policies.

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Recruiting

Recruiting Service

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Finding you the right fit for your organization is key to your success. Our HR experts can handle the difficult task of finding, interviewing, and placing the ideal candidate into your practice.

KMG will work with you to identify your needs, get your job posted, screen candidates, conduct background checks and generate offer letters for your selected candidate. We are confident in our ability to find and place the right person. This service comes with a 90-day placement guarantee.

Policy Manual and Employee Handbook

Employment Manual and Handbook

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Many advisors use out-dated employee handbooks and policy manuals, if they have one at all. Using out-dated documents can put you at risk of being in non-compliance with federal and state regulations. KMG will develop an appropriate policy manual and employee handbook for your organization. We will incorporate the ever-changing rules and regulations that govern these documents, and also ensure that you have the necessary documents posted in your place of work.

Orientation and Onboarding

Orientation and Onboarding

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Onboarding new hires at an organization should be a strategic process, everyone remembers their first day at a new job, good and bad. KMG will develop a systematic and comprehensive program that will integrate a new employee with the company and its culture, as well as getting the new employee the tools and information needed to become a productive member of the team. Employees will know what is expected of them and have a plan in place for their first several days of employment.

Policy Manual and Employee Handbook

Employee File Review

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There is so much confusion for advisors about what documents they must have for their employees, how long to retain these documents, how to store them, and also when/how to destroy them. With this service, KMG will do a complete review of your employee files to ensure compliance with federal and state laws. We will set up your files correctly so that documents are stored in the correct manner.

Benefits

Employee Benefits, Compensation and Incentive Structure

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Although it can seem expensive, there are many intrinsic benefits to providing your employees with a comprehensive benefit, compensation and incentive plan. For most, it is the ability to find and keep highly qualified staff that is the key driver. Whether your are hiring an unlicensed administrator, a fully licensed junior advisor, KMG will work with you to ensure that you are providing a competitive total compensation package to each of your team members.

Performance Reviews

Performance Reviews

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Traditional review systems can damage superior-subordinate relationships through a number of factors, including superiors basing their appraisals on recent performance while subordinates base their expectations on the entire year. Unlike these traditional appraisals, KMG will work with you to construct a comprehensive performance appraisal system that incorporates 360-degree feedback. This system is designed to foster an environment of teamwork and trust.

Terminations and Offboarding

Terminations and Offboarding

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KMG will work with you to properly document any actions leading up to an employee’s termination and will generate all necessary paperwork to complete the termination and off-boarding process. You will have the peace of mind in knowing that the process has been handled professionally and in compliance with all applicable laws for your protection.

HR Assessment

Comprehensive Practice Protection Assessment

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Our Comprehensive Practice Protection Assessment was designed for advisors and business owners who understand the various risks across their practice and are seeking input and support to mitigate these risks. We complete an assessment focusing on the legal, regulatory and franchise risks associated with operating a practice – including a review of staff roles, existing contracts and practice agreements and succession plans. We will identify strengths, areas for improvement and provide a written summary and consultation including next steps to take to protect the value/equity of your practice.

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Subcategories

Practice Management

 

About our Practice Management Services

Our Practice Management team is dedicated to making advisors become as productive as possible. We focus on the very high-level strategy, vision, and mission planning, down to the granular details of how you schedule, execute, and record each client interaction. We adapt our styles and approaches based upon what you need.

Some advisors want help at the executive level with decision-making and planning. Other advisors prefer that we work mostly with their staff to manage the day-to-day activities to ensure that nothing slips through the cracks. We have worked with hundreds of practices, and we guarantee that we can help you achieve new levels of success by using proven tools for strategizing, systematizing, and scaling your practice!

Our specific Practice Management Services are listed below. (For Practice Management Assessments - please see our Assessment Services).

Practice Management

 

About our Outsourcing Services

We know that there are two ways to make an advisor's practice more valuable:
1) Free up the advisor's time so that they can meet with more clients
2) Ensure that the advisor is fully prepared to have a productive client interaction.

Accordingly, we have developed our Outsourcing Services with those two goals in mind. We free up your time by expertly handling all of the meeting preparation activities, and we also ensure that when you go into the client meeting that you are providing high-quality, actionable recommendations.

Our financial planning team are experts at solving cases. Rather than just "writing plans" with cookie cutter solutions, we actively analyze, solve, and construct financial solutions for each client. We consider your client's specific situations, industry trends, account performance, market trends, product rules and applications, and more.

Outsourcing your Client Meeting Preparation and Financial Plans to KMG means that your clients will be receiving high-quality, thorough, and individualized advice. Our specific Outsourcing Services are listed below.

M&A Department

 

About our Aquisition & Legacy Services

Buying, selling, or transitioning a practice are generally once-in-lifetime events. Most advisors do not fully understand the complexities involved in these processes - including the emotional consequences of these life-changing decisions. Our M&A Experts offer services to help walk you through every aspect of these transitions.

We provide expert guidance at every step - from valuing your business, to considering tax consequences, negotiating deal terms, protecting against attrition, preparing your clients for the transition, and moving through the transition with the opposite party. We can also help advisors plan for the unknown with our Continuity Planning.

Our primary goal of every service is to ensure that you are 100% confident in all the decisions made about your practice so that you have absolutely no regrets when all is said and done.

Our specific Acquisition & Legacy Services are listed below. (For Business Valuations - please see our Assessment Services).

HR Department

 

About our Human Resources Services

Most financial planning practices do not have a dedicated Human Resource (HR) department that is versed in the latest laws and regulations that pertain to employment. Our HR services were designed to solve the majority of HR issues that advisors face within their practices when hiring, employing, managing, and terminating staff. We will ensure that your practice is compliant with the Department of Labor rules as well as the employment laws within your particular state.

We can also assist a practice in key HR tasks such as recruiting, interviewing, hiring, and onboarding new employees; or conducting performance reviews and wage reviews for existing employees. We can even help you with terminations and exit interviews of existing employees to ensure that you are legally compliant, thereby minimizing your risk of any potential issues.

For most advisors, we recommend that you begin with our Comprehensive HR Assessment. This assessment will help you identify the Human Resources areas in which your practice may be deficient. You can then determine which specific services you need. Our specific HR services are listed below.

 

About our Practice Protection Services

Our Practice Protection Services provide point-in-time and/or ongoing assessment of risk for financial service practices. Several types of risk may emerge throughout the lifecycle of a practice as a result of critical events. These events may be part of a business plan or something that arises unexpectedly. Each presents legal, regulatory, and/or franchise ramifications. We can help you manage your risk and take proactive steps to protect your business.