Episode 32: Diane MacPhee on Rightsizing Your Practice

“ [Right-sizing] . . . also unleashes significant staff capacity previously expended on these folks, thereby providing you the opportunity to delegate more to your staff. This sets you up to focus on business development and growth. Targeting ideal clients becomes much more clear for the entire firm once the client roster is scaled down, keeping those clients who support the firm. And with this knowledge, the team and the owner can create a specific marketing plan to follow in a disciplined manner.”

Diane MacPhee returns to the show for the second time to reveal all the positives and pitfalls of “right-sizing” your practice to boost profitability and build a solid niche practice that can grow and flourish. Don’t miss this fast-paced episode with a top business coach in the advisor space.

Diane MacPhee is a business coach with DMAC Consulting. Diane is a professionally certified business coach working primarily with financial advisors. Ms. MacPhee earned her certified financial planner designation in 1989. Diane had operated a successful sole proprietorship for 16 years from 1989 until she sold her private fee-only financial planning practice in January 2006. She served in 1993 as the president of the Northern New Jersey chapter of the FPA and served three years on the national board of NAPFA.

She was the conference chair for the Northeast Mid-Atlantic regional 2006 conference as well. Diane has been on CNBC a number of times as a repeat guest and on CBS for Wall Street week. She's also featured in "Wall Street Journal," "Cosmopolitan," "Consumer Reports," "More," "Fortune," and "Ladies' Home Journal." Diane has been featured in a number of conferences over the years, presenting on a variety of practice management challenges that many advisors face on how to approach them with a plan.

In her consulting work, Diane focuses on attaining higher levels of efficiency, productivity, and revenue. She offers advice on the nuts and bolts of managing your business as well as navigating the challenges of continuity and succession planning. As a practice management consultant, Diane strives to enable her clients to attain results with their definition of success.