What We Offer: Practice Management

Access an in-house team of experts who collaborate with you at every stage to grow and evolve your business.

Practice Management Support from the People Who Pioneered It

Support Aligned with Your Vision
Your Dedicated In-House Consulting Team

Count on our consultants to help you make the shift from running a practice to managing a business. Let us provide the guidance and support you need to embrace every role—from CEO and CFO to manager and mentor.

We help you streamline business planning by working with you to set appropriate goals and budgets and align your activities with these objectives. We also offer proprietary tools and analysis to help you stay on track, including:

  • Financial benchmarking to show you how your firm’s financial performance stacks up to industry benchmarks, helping you make decisions about your firm’s money with confidence
  • Revenue and cost analysis, which allows you to compare your firm’s growth and cost structure with other firms at Commonwealth and across the industry
  • Pro-forma trend analysis to help you develop an income statement for your firm
Supporting and Enriching Staff to Define Your Culture

Our consultants provide human resources expertise that you can rely on for everything from recruiting, screening, and hiring talent to training, managing, and motivating staff. Whatever your firm size, you can depend on us for guidance on:

  • Compensation and benefits
  • Industry trends
  • Professional development tools
  • Customized team-building sessions

It’s all to help you create a cohesive workplace culture and encourage the best performance from every member of your team.

Building your Brand to Expand Your Reach

A robust brand presence enables you to extend your visibility and form deeper connections. Our consultants can help you tailor a consistent and compelling message—one that conveys with every communication who you are and what differentiates you. Look to us to help you:

  • Define your audience, your distinct positioning, and the impression you’d like to make
  • Create a business and marketing plan and help you put your plan into action
  • Leverage our vast library of customizable marketing resources and materials
  • Identify opportunities for easy, targeted touches with clients and prospects
  • Connect and engage through social media and other communications
  • Strengthen your strategic alliances
Positioning You for Greater Efficiency

Our consultants provide the guidance and proven systems to help you build scale and capacity into your client service model, without adding expensive resources. The analytical tools and expertise we offer include:

  • Household revenue distribution, which helps you evaluate the quality of your clients against the quantity, based on revenues generated
  • Client categorization, which involves segmenting your clients and implementing a tiered service model to ensure that you’re using your time and resources most effectively
  • Service model profitability, which offers insight into the profitability of each client segment and your office’s productivity
Strategies Aimed at Boosting Your Profitability

Whether or not you’re a natural-born rainmaker, our consultants can help you set realistic goals for generating short- and long-term revenue growth and develop a strategic plan for helping you achieve your top-line objectives.

We provide guidance on client-facing activities that are proven revenue drivers, including:

  • Networking and gaining introductions to A-level clients
  • Establishing strategic alliances and leveraging marketing and PR
  • Hosting client events

A number of targeted tools and customizable templates are also available that offer practical strategies and techniques to help you get—and stay—focused on activities geared toward top-line revenue growth in your practice.

Planning for Business Transitions and Continuity

Having a solid plan in place ahead of time for how your practice will continue without you is one of the most important decisions you can make. Our consultants can assist you with every aspect of preparation to help ensure that your clients and business are protected, whatever the circumstance, including:

  • Succession planning. Using a proven process, we’ll help you craft a plan that’s right for you, as well as help you find the successor who matches your criteria.
  • Buying or selling a practice. A specialized cross-departmental team provides guidance and support, and our templated tools help you find buyers and sellers, estimate value, establish terms, and manage the operational aspects of the transaction.
  • Continuity planning. We help you develop a continuity strategy and find a partner to take over in the event of an unforeseen event.

Our goal is to help you lay the groundwork, so you can feel confident that your legacy is protected and any transitions will be smooth.