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Summary: Advisors can be compulsive about justifying their fees. After all, they want to be as transparent as possible. But how does someone strike a proper balance between going too deeply into the weeds and helping clients understand the value of hiring a pro?
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Summary: The purpose of this article is not to reiterate what has been exhaustively discussed in professional publications regarding “robo-advisers.” Rather, I'd like to give you a road map on how to compete with and beat online investment management services using technology.
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Summary: Again and again, advisors have commented to FA-IQ that, as far as they and their clients are concerned, the major custodians don’t differ much in their core services. At the end of the day, they say, all offer fairly standardized processes for opening accounts, safekeeping securities, clearing transactions and conducting wire transfers. Yet, in a recent FA-IQ poll, 62% of readers indicated the choice of custodian matters a lot.
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Summary: All investors are looking for the ‘Perfect Advisor,’ but for some reason, many never find them. It’s no wonder, if even some of what I’ve heard investors want in their ‘perfect advisor’ is true! Allow me to elaborate.
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Summary: Advisers work hard to get their clients and professional contacts to recommend their services to others. They sometimes don't focus enough on another key source of referrals: their staff. Not just junior advisers but administrative assistants and operational staff all can play an important role in identifying and developing new leads. To get them really involved, "firms should create a referral culture," says Jylanne Dunne, senior vice president of practice management at Fidelity Investments in Boston.
