Sometimes it’s easy to lose sight of the forest for the trees when running your business. Think of your practice as the forest, and the trees are:

  • All the clients you serve
  • Your operational infrastructure
  • The issues you face on a daily basis

If you spend all of your time and energy among the trees, the forest may take on unintended characteristics. 

Therein lies the value of working with someone “on the outside.” Someone who knows LPL, the industry, and understands your business and ambitions but doesn’t get entangled in the brush.

For Brendan Sheehan, Managing Director of Waymark Wealth, that outside perspective comes from Tina Wu, his LPL CFO from CFO Solutions,  with whom he has worked for the last 18 months.

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"It's almost like I am the client, and she's the financial advisor. It feels good to be on the opposite side of the table."

 

Brendan Sheehan, Waymark Wealth

Sheehan views his working relationship with Wu as a cost-effective business coach, a highly-skilled financial practitioner, and an expert on LPL’s offerings and industry best practices. Plus, she’s a master of asking Sheehan the future-planning question he regularly asks his financial planning clients, but doesn’t have the time to ask himself: "What do I want my business to look like in three years?"

After discussion, Wu provides Sheehan the data that corresponds with his desired goals, as well as benchmarking, and external perspective that allows Sheehan to determine desired next steps for strategy planning. 

 “It’s almost like I am the client, and she’s the financial advisor,” Sheehan reflects. “And, it feels good to be on the opposite side of the table.”  

In addition to regularly reviewing his business Key Performance Indicators (KPIs), some of the larger strategies Wu and Sheehan have explored include restructuring funding, establishing charitable goals, and creating an optimal bonus structure for Sheehan’s staff.

"Tina constantly brings forward fresh ideas on programs and strategies I hadn’t previously considered" said Sheehan. "She puts numbers and benchmarks in front of me like an invested partner and presents them in a way that drives decision-making. I never want to lose Tina!"

 

The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Waymark Wealth and LPL Financial are separate entities.

 

 

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