Hello and welcome to The Magellan Network Show. Today’s theme: To profit or not to profit?

I was recently introduced to a veteran advisor—15 years in the business, independent, deeply committed to his clients. But when we looked under the hood, it became clear: he’s running a non-profit. Not by choice but by neglecting the business side of his practice.

In this episode, I’ll break down how this happens, why it’s more common than you think, and what you can do to build a business that serves your clients and your bottom line.

I also discussed the following:

(03:25) How loyalty is costing your business
(10:38) Why advisors can’t afford to run a non-profit
(11:14) How to determine profitability
(15:09) The importance of understanding your costs
(18:05) The two core functions of any business

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