Structured Practice Business Plan

Directions: This form has been designed to enable you to tab through it to complete it.

Vision for Your Practice
Describe your practice as you would like it to be in 3-5 years. (You might include answers to the following questions—What will your clients say about it? How many households will you serve? What level of assets under management will you achieve? What will your typical day look like?) This vision will serve as the basis for the rest of your planning as you select aspects of your practice on which to focus.
Mission Statement
How have you defined the mission of your practice? (A mission statement describes what you do and who you do it for.) How do you use your mission statement? Are there changes you would make to enhance it?
Client Advice Process
Describe your process for advising clients.What steps are included in your process toprofile your clients, develop a plan and investment policy statement for them, and evaluate their progress?
What changes will you make over the next year to enhance yourclient advice process?
Client Service Standards
Describe your standardsfor client service, including administrative and operational needs, client communications (newsletters, etc.), client education (educational seminars, etc.) and client recognition and appreciation (birthdays, holidays, etc.) Do you employ a client segmentation strategy with higher service standards for your best clients? Do you employ a written client service agreement?
What changes will you make over the next year to enhance yourclient service standards and process?
Business Inventory & Goals / This Year (annualized) / Goal for Next Year / % Change

Total assets under management

Total revenue
Fee revenue
Total number of households
Assets per household
Revenue per household
Ideal Client
Describe your ideal or target client(s). Think inquantitative terms (such as investable assets, age and income ranges) and qualitative terms (such as interests, goals & concerns, interest in financial planning, receptivity to advice, willingness to pay for your advice and service, personality, and whether or not an advocate for your business (source of referrals).
How many & which clients fit your ideal client profile?
What percentage of your clientsfit the ideal profile? What percentage of revenue do they contribute?
How many ideal clients would it take to reach your 3-5 year goal if your entire practice were only ideal clients?
New Business Development
Which market(s) will you target in the next year in order to add more ideal clients to your practice? What marketing strategy(ies) would be most effective in accessing this market?
Target Market / Marketing Strategy
Practice Management
Describe any changes or enhancements you want to make to the structure of your practice (e.g., better defined roles & responsibilities and policies & procedures, addition of team member, new technology, contact management system, etc.)
Professional Development
Describe specific activities you will implement to further your own personal and professional growth, as well as that of others in your practice.

Structured Practice Action Plans

Now that you have written your business plan and defined the strategic initiatives (improvements) you want to implement in each area of your practice for next year, use the following template to develop an Action Plan to help you achieve each one. Remember to make your initiatives specific. Action steps will show how the initiative will be achieved, who will accomplish each step and by when. Obviously you should add as many lines for action steps as are needed to achieve the initiative. (Copy the table template to create additional Action Plans.)

Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When
Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When
Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When
Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When
Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When
Action Plan for [Select one]Client Advice ProcessClient Service StandardsNew Business DevelopmentPractice ManagementProfessional Development
Strategic Initiative:
Action Steps / By Whom / By When

LWI Financial Inc. (“Loring Ward”)

Securities offered through Loring Ward Securities Inc., member FINRA/SIPC.#08-338 (11/08)

Advisor Use Only – Not for Public Distribution