How profitability contributes to overall stability

06/19/2013 | AdvisorOne

Advisory firms without healthy, shock-absorbing profit margins will have unstable staffing levels that will affect the firm's performance, writes Michael Kitces, director of research for Pinnacle Advisory Group. "[A] firm with narrow profit margins ... cannot withstand any shocks without being forced to fire staff," writes Kitces. Employees are essential to sustaining business growth and serving clients, he writes.

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