BUTTERFLY TEAM WORKBOOK Decisions and Notes for Modules 1 – 5 BSMART Business Simulation Management and Relationship Training

Vision, Mission & Strategy The Foundation of a Business MODULE ONE

Your Vision We will be a premier provider of comprehensive investment and wealth management services. Our focus being analytically minded individuals and guiding them through each stage of their financial evolution by offering uniquely tailored strategies. By addressing the financial needs of our clients, we seek to enhance the financial security of their lives, as well as ours. A vision statement describes what you want your firm to look like in the future, typically three to five years out, or longer, and is both an internal and an external message. If you keep it front and center, it can help you stay focused on your goals. It can also help inspire and motivate your staff, and instill confidence in clients that you know where you want to be in the future. As you craft a vision statement for your firm, ask: What do we aspire to become in three to five years? What does success look like for our firm over this period? What does our end-state look like? A vision statement describes the future state you are looking to create – your desired end-game for the firm in 2020.

Your Mission Financial markets are complex and financial planning is a life long journey. You have enough to worry about. We are here to simplify this journey to mutually share in the full rewards of hard work & creating life balance. A mission statement describes why you are in business, and is primarily used internally. It plays an important role in helping you assess your activities and determining if they are in line with your core purpose. It can be used to “sanity check” what you may be considering doing – if activities stray from your core purpose, you may decide not to do them or to reevaluate your mission. As you craft a mission statement for your firm, ask: What is our purpose for being here? Why do we do what we do? What needs do clients have when they come to us? What are the most significant strengths of our business? Why do clients choose our firm over other firms? What are our differentiators? A mission statement describes why the organization exists – its core purpose.

SWOT Analysis 4 StrengthsWeaknesses Solid niche HR structure Experience & skills Growth slowing Growth IT focus Profitable Capacity

SWOT Analysis 4 OpportunitiesThreats Increase outsourcing Next gen Broadening investment offering Attrition Raise brand/preserve Markets Tech start ups

Initiatives and Notes Initiatives for Improvement Write down and agree on Strategy initiatives in your firm and elect a “champion” for each initiative. Notes Improvement OpportunityWho Will Complete 1.Assess investment offeringJames/Rich 2.Define HR structureCraig 3.Develop marketing planRobin 4.Review outsourcing/expand?Tami 5.

Growth Building the Firm MODULE TWO

CHARACTERISTICS OF THE IDEAL CLIENT CHARACTERISTICS OF THE NOT-SO-GREAT REFERRAL Business You Would Like To Win 1. $500K 2. Analytical focus/quant investment 3. Looking for wealth management 4.Broader tech industry 5. Firm advocate CHARACTERISTICS OF THE IDEAL COI CHARACTERISTICS OF THE NOT-SO-GREAT COI COI Relationships You Would Like To Have 1.Knows target client 2.Reciprocate 3.Knows firm story 4.Relationship oriented 5.Engaged Ideal Profile

Initiatives and Notes Initiatives for Improvement Write down and agree on Growth initiatives in your firm and elect a “champion” for each initiative. Notes Improvement OpportunityWho Will Complete 1.Inroads to other tech firmsTami 2.Define roles & responsibilities/teamCraig 3.Create career trajectory/comp.James 4.Define referral process (COI & client)Robin 5.Define goals (TUCK-IN, etc) /business & Ind. Rich

Staffing and Compensation Attracting, Retaining and Organizing Talent MODULE THREE

Organizational Chart Draw your firm’s organizational chart. Label the positions.

Compensation Philosophy PLEASE COMPLETE What is your compensation philosophy?

Initiatives and Notes Initiatives for Improvement Write down and agree on Human Capital initiatives in your firm and elect a “champion” for each initiative. Notes Improvement OpportunityWho Will Complete 1.Define job descriptions/rolesCraig 2.Align comp. to rolesJames 3.Dev. Career pathsJames 4.Path to partnershipRich & James 5.Succession planningRich, James, Tami Handouts in the Appendix Advisor HR Solutions Sample Compensation Profiles

Operations and Technology MODULE FOUR

Role of Operations Service and Deliverables PLEASE COMPLETE Component-level Role Financial PlanningInvestment Management

List and Documents Services PLEASE COMPLETE Process Purpose Budget Resources Evaluate how well resource components are satisfied. AvailableScalable AttainableSustainable

Initiatives and Notes Initiatives for Improvement Write down and agree on Operations initiatives in your firm and elect a “champion” for each initiative. Notes Improvement OpportunityWho Will Complete 1.Review current outsourcingTami 2.Workflow analysis (Int. vs. Ext)Robin 3.Efficiency & staffingJames & Rich Handouts in the Appendix Six Tell-Tale Signs That Your Business Processes May Need Attention

Financial Management Making the Numbers Work MODULE FIVE

Initiatives and Notes Initiatives for Improvement Write down and agree on Financial initiatives in your firm and elect a “champion” for each initiative. Notes Improvement OpportunityWho Will Complete 1.Review revenue/professionalRich 2.Marketing budgetCraig 3.Revisit account minimumsJames 4.Client segmentation/engTami 5.Path to partnershipJames & Rich Handouts in the Appendix Key Drivers of Firm Valuation