Sam Henderson is on a journey to grow an already thriving SMSF practice, and there are many lessons that advisers can learn from his journey through No More Practice
With the rollout of No More Practice 4 starting this week, you will get to meet Sam Henderson – a Sydney-based advisor who has a financial advice practice predominately focused on high net worth SMSF clients.
Sam has an excellent business, and with more than $3 million in turnover and a goal of 20 per cent growth each year, he is well on the way to being able to capitalise on the continued growth of the SMSF market.
His dilemma, however, as you will find out, is exactly how to grow this opportunity. It seems Sam is at a crossroads as to how to accomplish this. Does he acquire more clients via acquisition? Does he franchise his existing offering? Does he grow organically? These are the major choices facing Sam, and you get to experience his learning and decision-making process by following the show.
We are hearing from many of you at the moment about SMSFs – advisers, accountants and even brokers. While many of you already have SMSFs incorporated in your practices, there is a significant portion that have not. This is why we are working with SPAA to create an educational program to help you make the decision as to whether SMSFs are the right opportunity for you.
Not all practices should go into SMSFs. It is not the only growth option available, and requires a certain type of client with a higher balance to really make SMSFs a viable option. However there are many practices that already have clients who could go into an SMSF, who are just not aware of the opportunity they present.
For those of you who are considering a move into SMSFs, look out for our course with SPAA launching in April to help you assess whether SMSFs are for you.
In the meantime, watch Sam Henderson closely in his journey through No More Practice. He is in the crucial phase of further growing an already successful practice: where he goes from here and the choices he makes will be fascinating live education for us all.
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