Begun in late 2007, the purpose of the NM Advisor Council is to work with and mentor small business owners who need experienced advice from mentors who have managed through problems similar to what these small business owners are facing in their everyday business. The Council is designed to act as a shadow board of directors and can bring creative, experienced, forward thinking to assist business owners seeking this kind of support.
The Council consists of business professionals who have an interest in giving something back to our community, while at the same time developing relationships with like minded business professionals seeking mentoring and advice. The demographics of the Advisor Council are diverse. Business expertise available to the client falls within the areas of: accounting, estate planning, investment advice, venture capital, retirement plan administration, insurance, export marketing, management consulting, banking, ethics, business brokerage, public relations and marketing, commercial real estate, elder care.
Council advisor teams meet with the client company's representative or team up to four times each year. Each Council advisor team consists of four or more individuals based on the goals and anticipated outcomes presented by the client. The advisor team serves as an ad hoc, independent, advisory council of business mentors. The first meeting is introductory, based on a client-prepared case study, with no fee charged to the client. Subsequent quarterly meetings include a negotiable fee, estimated to be in the range of $200 per advisor per meeting. Depending on the time of day of meetings, the client is responsible for providing refreshments or a light meal. At the initial meeting, the client owner/manager will present a case study* that includes details of the issues the advisor team will focus on. As mentors, the advisor team will consider the issues, provide opinion and experiential input, and seek to give creative advice to the client. Resolution of elements of the case study will be used for follow-up discussion at subsequent meetings.
*The case study outline (shown below) will be provided to Council members prior to the initial meeting in order to provide thought-processing and preparation by Council members in advance of the meeting. Each client may choose up to four advisor team members from the Advisor Council membership, based on the case study issues presented for resolution.
Case Study Outline - business clients: * Description of specific business goals to include progress on goals, issues preventing meeting goals * Detailed statement of the current state of the business * Detailed description of the business * List of four topic areas (or issues) the Advisor Council will focus on and provide detailed input for the client * Details of each of the four topic areas or issues, to include prioritized and focused discussion topics
Cast Study Outline - high net worth individual client: * Description of specific investment goals to include progress on goals, issues currently preventing meeting goals * Details of current state of investments to include description of investment modalities * List of topic areas or issues the Advisor Council will focus on and provide detailed input and guidance for the client
Recommendations for topics that may be included in the case study for the business client: business or operational planning, marketing plans, program or product pricing, tax issues, accounting, cost accounting, legal issues, employee/owner retirement plans, working with lenders, succession or strategic planning, export marketing, valuation and sale of the business, ethics, business brokerage, back office planning/structure, integrated team management (coaching and leadership), insurance (life, business succession, D&O).
Recommendations for topics that may be included in the case study for the investor client: retirement and/or estate planning, insurance (life, long term care), fixed income, retirement cash flow analysis, elder care and housing.
The NM Advisor Council seeks to serve privately owned business clients residing in and/or owning/operating a business within the state of New Mexico; in business a minimum of five years with a volume of $1 million to $50 million in annual sales or revenues.
If you are interested in more information about the Advisor Council or may be interested in the services provided by the Council, contact Dick Brackett at Richard@highdesertadvisors.net.
High Desert Investment Advisors 4801 Lang NE, Suite 110, Albuquerque NM 505-797-2644 or 505-469-3467
Serving Your Personal Investment Needs Since 2003
Information provided herein should not be considered financial advice. Please speak with your investment advisor.
High Desert Investment Advisors may transact business only in states in which it is registered, or in which it is excluded or exempted from registration. High Desert Investment Advisors is currently registered in the State of New Mexico, and has a de minimus exemption to transact business in other states.
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