How to Handle a Windfall

Key Takeaways

• There are three main ways to structure a financial advisory practice—solo, silo, and ensemble (team).
• We have chosen to structure as an ensemble practice to provide exceptional client service and have a built-in succession plan.
• Other benefits of an ensemble practice include: we win (and lose) as a team, it professionalizes the firm, and we are able to build a team of subject matter experts in multiple areas of financial planning.