• Peer Groups

Are you looking for valuable Peer Groups?

Business Health reported “18% of Practice Principals are currently part of a peer group or study group.
While another 20 % expressed interest in joining such a group.
The power of the peer is enormous, when two minds come together, a third mind emerges:  1+1 = 3

Peer Groups done well are one of the most valuable sources of information and insight for any business owner or leader.

They are a fabulous way to connect and share information to help build successful sustainable, valuable, and meaningful businesses.

We have been running Peer Groups for Financial Planners for the last decade, in our previous corporate gig.

We ran many different peer groups to serve the needs of our advisers. Here are some ideas and examples of different peer groups that we run:

  • Growing and Scaling Business and Revenue at the different stages: Startups | < $1M | > $1M | $5M.
  • Mitigating Risk in your business through compliant systems and processes
  • Building Businesses and solving problems at different Stages: Start Up, Growth, Plateau, Decline
  • Special Peer Groups around specific projects or problems: Increased Pricing, Developing Client Value Propositions, Segmenting clients, Compliance and Regulation, Technology efficiencies, Portfolios, and managed accounts.
  • Licensee & Own AFSL Showcases: a Licensees closed and we helped rehome the advisers in a place they felt a cultural fit and a sense of belonging.
  • Mergers and Acquisitions Incubators: getting your business ready for sale and helping align the buyers and the sellers so they can start the conversation and prepare their business long before the sale.
  • Building Future Ready businesses together via workshops
  • Best Interest Duty and Compliance requirements to mitigate risks.

Three magic things happen when you create a successful peer group:

  1. Increased Accountability = Increased Profitability: According to Business Health research “Financial Planning Businesses are 89% more profitable if they meet quarterly or monthly, to report to a board on their financials, and 57% more profitable if they meet 6 monthly or yearly than those who don’t.” Peer Groups are an excellent way to keep you and your peers accountable for a common cause …to build a better business that is successful, sustainable and valuable and makes a meaningful difference for our client’s, our people and ourselves.
  2. Meaningful problems get solved in less time. Business can be done better. Doing this together is always better than doing it alone. An interesting thing happens when your share two ideas, a third idea emerges which is always better than the previous two. That is why we say 1 +1 = 3
  3. Connection, collaboration and belonging form: when you come together for a common cause to build a better business and you share ideas and socialise, special bonds form. You build connection, cohesion, culture, and trust. You build a network of peers that you can turn to and call to help you solve the meaningful problems in your business. The connections last way beyond the peer group. Your peers become your trusted advisor and a real sense of belonging forms.

If you are considering joining a Peer Group, think about what stage your business is currently at and the meaningful problems that need solving, and which of your peers are already solving those problems. We can build and facilitate a peer group with your peers or others, with a valuable Agenda and meaningful content and speakers.

In our experience the most valuable speaker is you. Hearing from the Practitioners in the field talk about your business, your pain points and your practical solutions is always the most valuable take away.

Alternatively, if you are not sure of any other peers to be in a group with, just reach out and let us know the details about your business and the top three problems you want to solve in the next 12 months and what you are looking to achieve out of being in a Peer Group. We will match you with other Financial Planners with whom have expressed similar interests as yours.

  • Peer Groups