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Summary: In the span of barely 10 years, some of the world’s largest companies have sprouted seemingly out of nowhere, dominating industries whose incumbents have been around for decades, despite the upstarts not actually producing any goods or services. The key driver that makes the platforms so extraordinary: network effects, or the phenomenon that the more people use the platform, the more desirable of a marketplace it is for other people to use.
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Summary: Last week while speaking in Atlanta to 120 advisors, swimming trials were being held, and many asked me what makes the split-second differences – is it a particular training exercise, diet, or rest? What separates those who will go on to make history from the other competitors? What’s the one thing that matters most?
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Summary: Earlier this year, I wrote a column titled “You Might Be a Salesperson If…” in which I described some traits of planners whose primary activity is sales, rather than advice. I was surprised by the vehemence of the emails and online responses from people who first self-characterized as salespeople based on what I wrote, and then objected to my depiction of them.
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Summary: While it’s clear that technology for personal finance has shifted in ways we couldn’t have predicted three decades ago, the foundation of success in our industry relies on one thing, and it’s old-school: solid financial planning.: While it’s clear that technology for personal finance has shifted in ways we couldn’t have predicted three decades ago, the foundation of success in our industry relies on one thing, and it’s old-school: solid financial planning.
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Summary: Instead of engaging in an analysis of all the qualitative and quantitative benefits that the technology can offer their practice, the extent of their examination tends to begin and end with the question, "What's it going to cost?"
