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Business Growth Strategy - Value of a Written Business Plan

By Greg Gilbert, CFP®

CEO and President, Infinity Financial Services

A written business plan articulates your vision for your practice. It establishes specific, measurable sales and marketing goals and objectives, to which you hold yourself and team accountable. It includes action steps consistent with your practice strengths and weaknesses relative to your competition. A business plan helps you to stay focused on managing your time effectively, doing those tasks that are most important to achieving your near and longer-term goals. Putting your plan in writing eliminates any ambiguity about what you are endeavoring to accomplish. It serves as a document you can share with your team (if you have one) so that everyone is on the same page.


As part of the Infinity Financial Services Advisor Jump-Start program, advisors are given a Business Plan outline to create their strategic plans, working on their own or with the assistance of a business or marketing consultant. The outline is comprehensive and includes such sections as practice positioning, target audiences, measurable goals and objectives, products and services you will offer, practice segmentation and analysis, technology, roles and responsibilities, digital marketing and budget.

Leveraging the expertise of a marketing consultant may help to expedite the process and enhance the results. A consultant may help you:
•    Develop key messages to promote your practice
•    Help you to develop a marketing budget to achieve business growth goals
•    Develop and implement your digital marketing communications plan
•    Grow you practice with business development support


We recommend that advisors develop their plans linearly, step-by-step, from the top of the business plan outline to the bottom. With a high degree of focus they can write a first draft within 30-60 days, perhaps sooner if they are working with a consultant.  
When advisors complete their draft plans, we encourage them to do a complete read through.  As they reflect on what they have learned during the plan development process, they may decide to modify some sections.

The time taken to develop the business plan thoughtfully and deliberately is time extremely well spent. By clearly defining measurable goals and how they want their practices to evolve, they greatly increase the chances that they will achieve those goals.

If you should affiliate with Infinity Financial Services, your manager and I will be pleased to review your business plan with you and provide feedback and suggestions, if needed. I thoroughly enjoy coaching and helping our financial advisors to achieve their most ambitious growth goals.

Your plan is a dynamic document. The initial version of the document serves as a baseline that you can revisit annually and make any needed updates and changes. It is a powerful tool to help ensure that you (and you team) are staying on track and not veering off into activities that will not foster business growth. 

For personalized assistance in considering affiliation options, please click here.  


Infinity Financial Services is a national, independent Investment and Wealth Management firm, founded with a vision: help enterprising financial professionals to grow truly independent, successful practices, leveraging leading-edge technologies and firm support. Based in Oakland, California, with branch offices around the U.S., Infinity's financial professionals offer an array of asset management, brokerage, insurance, financial planning, benefit plan, insurance, and risk management services. This article provides information for investment professionals. It is not intended for use by the general public.