New year, new ideas: Advice for 2020


Erica R. Kay

  • Senior Marketing Manager, Head of Value Add Programs
  • Read bio

Where has the year gone? I can’t believe 2019 is already coming to a close. While the end of the year can be extremely busy with the holiday season in full swing, it also provides a great opportunity to start fresh with new strategies or ideas for your business.

With that in mind, as you begin to plan, consider some of this advice from our practice management partners:

Ajamu Loving, Ph.D., advisor education consultant: Physician, heal thyself! Use the beginning of the year to start off on the right foot by taking your own advice. We often tell clients that they need to be forward-looking and purposeful with their finances and their effort. Then, as advisors, we spend the rest of our year frantically putting out fires, and the elements of our business planning look more like spaghetti stuck to a wall. It’s haphazard at best.

Let’s examine our long-term goals for our practices. Assign effort and dollar values to them. Break those goals down into short-term goals and actions. Execute and evaluate as you go. Do what you tell your clients to do. I think we both know that this process tends to bear good fruit. Let’s do it!

Nathan Harness, Ph.D., CFP®, advisor education consultant: A new year is a great opportunity to revisit your mission with your team. Ask yourself, “Is our vision/mission embodied by our team, relatable to our clients, and concise enough to be easily retold by our circles of influence?” Having a shared purpose empowers all members of your team, gives permission to say “no” to projects that don’t directionally align, and reinvigorates your own passion for practice. Start out the new year with the clarity of a forward look with a present action and a historical reverence.

With those thoughts in mind, I'd like to give you one piece of advice for 2020. We’re in a constantly evolving industry surrounded by innovation. My advice to you would be to embrace technology and incorporate innovation into your business. Whether it’s a new gadget, app, or software, challenge yourself to learn something new and inject the next generation of technology into your practice. Who knows, you may even find it helps you attract the next generation of clients! Just remember to focus on what’s most important: building and maintaining those strong relationships that you have with your clients and your teams – stay connected to what matters in 2020!


The views expressed are those of the author and do not necessarily reflect those of Macquarie Investment Management (MIM), or any of its employees.

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