What your Sales projections can tell you about your RIA's health

Sales projections are important to your organization's goal identification and planning. But have you ever considered what your sales projections can tell you about the health of your Registered Investment Adviser (RIA) firm?

In this episode, I discuss the significance of the data that informs your sales projections. Likewise, I explore how you can use your sales projections to measure your firm's performance against industry benchmarks, determine future hiring needs, and more! This week on The Financially Simple Podcast:

• (01:35) How your sales projections can help you

• (03:05) What is a sales projection?

• (05:05) How do we calculate run rate?

• (08:43) Two key data points

• (09:33) Estimated future sales

• (14:16) Average Assets Under Management (AUM)

• (16:42) A word of caution

Our Favorite Quotes:

"In order to affect the future, we must disturb the present. In order for us to grow something that is best-in-class, we have to do things that our peers who are average, are not willing to do." - Justin Goodbread

About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.

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Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").

This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.