Hard to believe it, but the calendar tells me that today is July 1st, and that means that we are now in the second half of 2013. I imagine that very soon it will be December, and I'll be wondering where the year went, and how we got to the end of the year so fast. Funny how the older we get, the faster time seems to go. I remember as a kid that the year would drag on - it took forever for the school year to get over, and then for Christmas to come. But now, things seem to move faster.
So, what does it mean to us, as professionals, to have put 1/2 the year in the books? It might be time to do some assessing: how are you on your 2013 goals? Have you done what you hoped to do in the first six months? What adjustments to your business plan do you need to make in the 3rd and 4th quarters of the year to accomplish your yearly goals? What do you need to do now - to get the payoff later in the year? If you've been contemplating changing broker-dealers or RIA firms, have you consulted your lawyer for help in the transition? Have you identified a time-line to make the move and have a plan in place for the transition?
In addition to focusing on revenue and business goals, it is also a good time to take a look at your compliance goals as well. Have you completed needed CE and any other training for your registrations and professional designations? Have any events occurred so far in 2013 that warrant or necessitate an update to your Form U4 or ADV? Have you reported your OBAs? Have you put in place systems and procedures in your practice to help prevent customer complaints, compliance investigations and regulatory actions so you can better focus on asset gathering and client service?
The time is now. Before we now it, 2013 will be in the books as well, and if we don't act now, we'll be wondering why we didn't get things done this year.