Sales & Marketing
Research shows that advisory firm revenue growth has dropped from 16% in 2013 to 5% in 2016, and Pershing’s Mark Tibergien says the most significant factors for the recent decline involve “poor positioning, bad branding and message-less marketing.” Tibergien talks with Megan Carpenter of FiComm Partners about how firms can increase their visibility and drive growth. She describes the key components of a marketing plan, starting with brand infrastructure. See a link below to Tibergien’s column in Investment Advisor magazine. Also, Josh Brown, aka the Reformed Broker, explained during a T3 advisor conference session how he and his partners rose to social media fame, noting that “being early was a benefit.” (He now has over a million Twitter followers.) ThinkAdvisor outlines three of his social media tips for advisors, and the first is to maintain a consistent message. See the article below.
Contentment or Complacency?
By Mark Tibergien
Source: Investment Advisor magazine
The rate of growth in the average advisory firm is slowing dramatically. But why? The level of complexity in our financial lives is increasing. Thousands of investors are chasing after an impossible-to-value Bitcoin bonanza. More people depend solely on social security for their retirement income than ever before. Hundreds of new millionaires are added to our population each year. And a growing number of younger people are thinking about how to make an impact with whatever wealth they accumulate.
Josh Brown’s 3 Social Media Tips for Advisors
By James J. Green
Josh Brown of Reformed Broker fame had his T3 advisor conference session eating out of his hands recently as he humorously divulged how he and his partners at Ritholtz Wealth Management have become social media stars while building a fast-growing RIA firm. And he had several suggestions to advisors on how to use social media as a business development, branding and client retention tool.