Robo-Advisors, Threat or Niche?

by admin on October 16, 2014


Key Takeaways

  • From discount brokers to “robo-advisors,” there are always going to be competitive threats to the wealth advisory business model.
  • Take each competitive threat seriously, but don’t be intimidated by things like low-cost innovation and automation.
  • Use each competitive threat as motivation to “up your game” and further refine your target market and the value you provide to your clients—and your clients’ heirs.

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The Download Multiplier

by admin on October 9, 2014


Key Takeaways

  • Most advisors have tremendous knowledge about clients stored in their heads, but sharing those “smarts” with their team can be a challenge.
  • Empower your team to handle 95 percent of the client issues that come up—even when you’re out of the office.
  • Make sure your firm has an efficient way to capture every instance of client contact and store it in your CRM, your electronic filing system and other knowledge-sharing areas.

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Timely Boundaries

by admin on October 2, 2014


Making the time to get tough things done

Key Takeaways

  • Many of us are so busy keeping our clients satisfied that we rarely have time to think about growing the business or bringing on new capabilities.
  • If you put things on your calendar, 80 percent of the time they’ll get done. If they’re not on your calendar, the success rate drops fast.
  • Schedule the hardest tasks first thing in the morning—innovation and marketing, for instance.

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To AUM or Not to AUM?

by admin on September 25, 2014


Key Takeaways

  • Setting the right fee structure is one of the toughest decisions you’ll make as you transition to wealth advisory services.
  • SWOT, Pro-Con and The Rubber Band Method can help.
  • There is no single right method for decision making, but you want to find one that helps you remain confident and prevents you from slipping into procrastination mode.

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