I speak to a lot of IFAs. I’ve spoken to thousands over 15 years.
The majority of IFAs are small businesses and the same issues that were relevant when I started talking to them are relevant now.
One question that all IFA business owners inevitably ask themselves at some point if they want to grow is “When is the best time to take staff on?” Or more specifically for IFAs a Paraplanner or Administrator?
There is no perfect answer to this question. However, ask yourself these 3 questions and if you have said yes to them, you probably need to take someone on;
- Do you spend more than 50% of your time on admin and paraplanning? Note: It Could be less than 50%.
- Do you work long hours that mean you go in early, go home late and work weekends?
- Do you sacrifice time with your family to work?
There is a reticence amongst some to take the plunge. There is the fact you are taking on an employee with the responsibilities that requires, along with the additional costs.
It can be daunting, very daunting in fact.
Don’t think of the hassle and annoyances that come with taking someone on board, think of what could be achieved.
From another perspective what will it do for you personally and how much time could you spend with your family if the work burden was taken away from you?
Could it even make you grow the business?
Now as ever comes the shameless plug…if you need a Financial Planner, Paraplanner or Administrator give us a call on 07595 320 972 or email [email protected]