1. Business Planning Meeting Periodic Business Review
Strategic Planning – Periodic Business Review
Business Planning Meeting
Periodic Business Review
Description: This workflow describes all the steps required to conduct a review of the firm’s progress towards achieving the firm’s strategic business goals. It is in this review that the firm typically generates reports to track progress and assess whether changes need to be made within the firm or to the overall business plan. Best practice is to conduct a Business Review on a quarterly basis in coordination with the firm’s annual Business Planning Meeting, where the business plan is first defined and implemented.
Process Checklist
PREPARE
ROLE
TASK
DETAILS/TIPS
Client Service Associate
Confirm Business Reports Needed by Advisor
Due: 3 Weeks Before Meeting
Work with the Advisor to identify the types of reports needed for the review
Analysis varies firm-to-firm but typically, the following reports are needed:
Profit and loss statement
Commissions and fees report
Accounts payable statement
Sales pipeline and activity report
Schedule Business Review
When scheduling be sure to take into consideration the amount of time that is required to generate the reports needed for this review
Book the room, resources, and attendees for the review
Create Business Reports & Cover Letter
Due: 2 Weeks Before Meeting
Typically firms develop automated report templates that can be used to streamline the reporting process for every Business Review
Utilize the firm's systems to generate the reports identified by the Advisor
Ensure all data being used in the reports is up-to-date and accurate
Review the reports for any errors or issues either due technology or oversight
Draft a cover letter for the reports explaining what’s enclosed and key findings
Schedule time to review the reports with the Advisor before presenting it to the entire team
This provides an opportunity to review the reports to determine whether further analysis needs to be performed to explain any findings to the team
Review Business Reports with Advisor
Due: 1 Week Before Meeting
Present the cover letter and reports to the Advisor
Be sure to explain any assumptions that we’re taken into consideration when conducting the analysis to ensure they were appropriate
Review any trends in reports and answer questions the Advisor might have
If there are any outlier data points that don’t follow the usual trends, be sure to point that out for further explanation or discussion
Collect feedback and identify any changes that need to be made to the reports
Implement any changes and provide the updated reports to the Advisor in preparation for the review with the other team members
seic.com/advisors
© 2015 SEI. This information is proprietary.  No further distribution is intended.

2. Business Planning Meeting Periodic Business Review
Strategic Planning – Periodic Business Review
Business Planning Meeting
Periodic Business Review
Process Checklist
CONDUCT
ROLE
TASK
DETAILS/TIPS
Advisor
Conduct Business Review
Present the reports and review the team’s progress to goals
Identify firm deficiencies and opportunities based on the report findings
Be sure to celebrate any positive trending data to increase firm morale toward collectively reaching the firm’s strategic business goals
Collect feedback from all team members and answer any questions
Determine if overall business plan should change based on this review
If changes do need to be made, be specific about:
What those changes are
How they’ll be implemented
Who is responsible for seeing those through
Process Checklist
FOLLOW-UP
ROLE
TASK
DETAILS/TIPS
Advisor
Oversee Tasks to Monitor Business Plan
Due: 1 Week After Meeting
Incorporate any changes to the firm’s overall business plan
Redistribute the updated plan to team for reference and file it for record-keeping purposes
Assign any follow-up tasks to team members
Ensure every team member is aware of what role they play in ensuring the plan is executed and implemented
If changed behavior is required of any team members, set reminders to periodically check-in to monitor and ensure appropriate efforts are being made
Launch the "Periodic Business Review" workflow again
Typically this is launched on a quarterly basis to continue to track the objectives and goals laid out in the firm’s overall business plan
seic.com/advisors
© 2015 SEI. This information is proprietary.  No further distribution is intended.