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By Glenn G. Kautt
Source: Financial Planning
In the advisory industry, innovation produces above-average growth as firms employ technology more efficiently, use staff more effectively and provide better services for clients. Innovation and growth come at a cost, however. How do you know if an innovative idea will work in the first place?
If you’ve put something into effect and it’s not working the way you expected, what do you do about it?
By Helen Modly, CFP, ChFC
Source: Morningstar Advisor
A portfolio management system that seamlessly connects to a rebalancing program that you access through your CRM after your daily downloads and reconciliation have been done for you. Too good to be true? Not if you are willing to invest the time, money, and effort to create true scalability in your firm.
By Bob Veres
Source: Financial Planning
The financial planning profession, once again, is at an inflection point — and the winners of the last revolution may end up the losers when this one runs its course. A new revenue model has emerged that is more closely aligned with the interests of the client. It also happens to open up a financial advisor’s service to a much broader ocean of younger and less wealthy clients. You should probably be paying attention.
By Janet Levaux
Source: ThinkAdvisor
Mark Tibergien says there’s a fairly straightforward way for financial advisors to both improve their business and that of the broader industry, while getting more Americans to improve their financial health: Boost financial literacy.
By Michael Kitces
Source: Nerd’s Eye View blog
As an advisory business gets started, the focal point is typically on just getting the first few paying clients in the door – the key aspect being paying clients. Simply put, it’s all about just trying to generate some revenue, and the key indicator for measuring the advisory firm is pretty straightforward: how much revenue is there.
By Melanie Waddell
Source: ThinkAdvisor
Just as advisors’ use of exchange-traded funds continues to rise, advisors are shying away from annuities, according to the Financial Planning Association’s 2014 Trends and Investing survey.
By David Rossien
Source: Financial Advisor
The dirty little secret of financial account aggregation is that, even after over a decade of effort, no aggregator has truly “cracked the code” and made the consolidation of investor accounts a 100 percent seamless operation.
By Liz Skinner
Source: InvestmentNews
Resigned to the fact that so-called “robo-advisers” are here to stay, many advisory firm executives are considering ways to partner with these firms or to incorporate the digital advice model into their own offerings. About 31% of registered investment adviser and broker-dealer executives polled in an informal Fidelity Institutional survey earlier this month said they plan to look for ways to partner with a digital adviser. A quarter of the executives said they might incorporate an online model into their existing business, according to the poll released Thursday.
By Joyce Hanson
Source: InvestmentNews
It’s the rare adviser who finds adopting a new customer relationship management system thrilling. Picking a new CRM takes time, the product choices are plentiful and the technology can be confusing. Worst of all, advisers believe, the time spent on all that CRM research and training is time that might be better spent on client management and prospecting.
By Kelli Cruz, Cruz Consulting Group
Source: Financial Planning
A majority of employees at advisory firms — both professional and nonprofessional — now receive a combination of base salary and incentive pay, industry studies find. But firms don’t seem to be satisfied with their pay packages and, at my consulting firm, the most highly requested engagement is for designing (or, more commonly, redesigning) incentive compensation.
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