Assessments

 

About our Assessment Services

A question that we often get from advisors is "How am I doing?" Because most advisors only have knowledge of their own practice, it is hard for them to put their own experience into context. They may wonder how the value of their practice compares to their peers, if they have good systems and procedures in place, and/or if they are handling the recruiting, hiring, compensating of their staff members correctly.

To help answer these questions, we have developed a number of assessments where our experts gather data about your practice and then provide you with specific answers about how your practice is performing. Our specific assessment services are listed below.

AFA Analysis

Assess

As an advisors develops their practices, at some point they may need to bring on another producer to continue growing. For many, the next step is hiring an AFA. But how should that person be compensated? A salary? A payout schedule? With a share of equity?

Advisors may not be aware of all the kinds of risks associated with bringing a new producer into the practice. Our AFA Analysis was designed to help advisors thoroughly plan and consider all aspects of their AFA arrangements before the most common mistakes are made. Our service includes two parts:
1) A consultation to review your specific AFA arrangements (employee/independent contractor) and risks you must be aware of when bringing a new producer into your practice (non-competes, equity, and more), and 2) A compensation design with a financial analyst to model different scenarios for compensation to help you build your compensation package for the AFA

Read more

Business Valuations

Assess

The value of your financial planning practice may be your largest asset. Understanding what drives this value is critical to making good business decisions. Our M&A Experts have helped hundreds of financial advisors determine the market value of their practice. This information helps advisors become more strategic about their time, business investments, and future plans.

Read more

Quick Online Assessment

Assess

Our online practice assessment was designed for advisors who are interested in exploring our services but don't know where to begin. This assessment requires less than 20 minutes and is meant to provide a high-level overview of the advisor's practice to identify strength and weaknesses. The KMG team will then make recommendations to help you determine if our services are right for your business.

Read more

Human Resources Assessment

Assess

If you are an advisor who has recently hired an Associate Financial Advisor or other support staff, we strongly recommend that you have an HR Assessment completed to ensure that your practice is in compliance with state and federal laws. In addition, you will be confident that you are following protocol and best practices as an employer.

Read more