PMP Financial Research
The PMP Financial Research Practice Critical Assessment

Welcome, Rio Group Guests

The Rio Group

This assessment has been provided for your convenience after participating in the webinar entitled "The Road Ahead". To complete the assessment, answer each question on this page (beginning to the left) as accurately as possible. Once you have answered each question, click the "Finish" button at the bottom of the page to view your critical needs.

Contact Information

First Name
M
Last Name
Address
City
State
Zip
Telephone (Home)
Telephone (Work)
E-Mail Address

Background Information

Broker Dealer/Organization
Years in your profession
Licenses currently held
General nature of your practice

Professional designations held





:
Hours/week spent in business


Total clients your business serves



Professional journals you regularly read
Professional organizations you are in
Current business structure






Number of staff people in your business



Your total annual revenue


Area of your profession where you posses the most knowledge

Practice Critical Assessment

Carefully answer the questions as accurately as possible. Select the "Finish" button at the bottom of the page to view your results.

Your Information

Your Name

Your Assessment

1. Identify the top two activities that you are best at and/or most enjoy:
2. Identify the bottom two activities that you are worst at and/or least enjoy:
3. In your opinion, what are the three most important practice issues you would want to address in the next 12-18 months?
a.
b.
c.
4. If you had extra money, would you spend it to improve your practice? If yes, how?
5. If you had more time, where would you commit your time to improve your practice?
6. If you could stop doing one thing, what would it be?
7. Do you plan to acquire another practice?

8. Do you plan on selling your practice in the next 36 months?

9. Please identify the areas below that you feel you must address in the near future.
  1. You want to simplify your business
    • Fewer but better clients
    • More focused to develop value to certain clients instead of being all things to all clients
  2. You want to grow your earnings
    • You need a grow your earnings but it might require re-engineering your business
    • You want to grow your earning but you believe it can be done by better improving your existing client relationships
  3. You are tired of working alone and want to move to a team model but are unsure on if and how that should be done
    • You want to develop a team model for your own practice continuity and succession plan
    • You want to develop a team model because it can help you achieve more earnings and more wealth that you could ever do alone
    • You want to develop a team model because the demands of the business become impossible as a sole practitioner and to be relevant to your clients in the future it will require a team approach to deliver services and advice
  4. You want better control of your business
    • The business is becoming more complex and difficult therefore it is a struggle to build a business while providing full time advisory work for clients
    • You are a business person and believe it’s time to install more relevant best practice systems
    • You understand the upside opportunity of the business you own but you are unsure on how to develop it
  5. You need a growth strategy
    • Growth starts with developing your philosophy and then implementing tactics
    • You can achieve growth by just having a better marketing plan
    • Growth means improving your practice at every level and the outcome benefit of that helps everyone involved
  6. You want to grow the value of your practice because you want to cash out with the highest practice value possible given your circumstance.
    • You aren’t sure which business model will give you maximum value
    • You have a current business model but you don’t know if it would be sustainable in the future
    • You aren’t sure what needs to be done and how long it will take

Your Client Focus Worksheet

1. If you had more time, where would you commit your time to improve your practice?
2. What is your current asset management philosophy? Discuss your processes and procedures as it relates to asset management.
3. What is your current advice philosophy? Discuss your procedures and processes as it relates to advice.
4. What is your risk management philosophy? Discuss processes and procedures.
5. How would you rate the technological proficiencies of your office on a scale of 1 to 10 with 1 being new to computer technology and 10 being extremely proficient?









6. What are your staff roles & responsibilities, and do you feel that they are effective?
7. What is your client feedback process?
8. Please describe our practice events for client application, marketing, education and centers of influence.