Drafting / Revisions of Business Policy Statement (BPS)

Our advisor partners operate very successful practices. However, in order to meet today's demanding retirement marketplace, a clearly defined strategy must be articulated, measured and updated to remain successful. This process can be accomplished by having APG assist in drafting and/or updating your Business Policy Statement (BPS). This activity is analogous to drafting and monitoring an Invest- ment Policy Statement for the Plan Sponsor to help establish a proper roadmap.

This valuable exercise establishes a written and ongoing process to formalize and validate the structure and framework of your organization throughout the busi- ness cycle of your practice from early to mature stages. By setting specific written goals and objectives, this process allows your firm to measure and monitor success. It has been proven time and time again that written goals and objectives lead to far greater successful outcomes. By clearly specifying your strategy in the BPS, this process allows your value proposition to naturally emerge. This organic evolution leads to a far greater core competency.

The BPS outlines key performance indicators that measure and monitor your firm's profitability and growth. This system proactively ensures appropriate staffing that ultimately parallels growth and avoids service related issues. The BPS becomes a working and ongoing process. As an advisor's practice continues to profitably grow, the value of the firm increases as well. The natural issue of succession planning should be addressed. The BPS addresses succession planning issues by identifying possibilities, probabilities, and practical solutions. This type of activity ensures a smooth transition at maximum value to the advisor!

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