The Web-based self-assessment questionnaire consists of more than 100 questions and generates an evaluation of the health of an RIA practice across more than 30 areas. Those business areas include Client Experience; Business Planning and Strategy; Marketing, Product and Compliance Management; Human Capital; and Key Performance Indicators.
After completion, advisers receive a detailed report which provides insights, analyses, and recommendations from Pershing Advisor Solutions practice management specialists. Pershing also said its relationship managers will work with the RIA firm one-on-one to interpret the business challenges and implications outlined in the assessment and help the firm develop customized solutions.
The new offering was developed in conjunction with Business Health, one of Australia’s practice management groups in the financial advisory industry.