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Summary: The words we use to describe ourselves can give us a wind at our backs, or they can generate a wind in our faces. This especially applies to the financial planning sector, in part because the profession has yet to define itself in the public mind with crystal clarity.
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Summary: American consumers are increasingly using financial advisors but many traditional wealth management businesses leave out the less affluent at their own peril, according to a recent report.
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Summary: Like most advisory firm owners and business consultants today, when I started my consulting business 15 years ago I thought business consulting was an ongoing process: with the consultant serving as an “off the books” member of the executive team, working to grow a successful advisory business. I even described my services as a “virtual CEO or COO,” or some fancy name that I care not to remember.
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Summary: When you work with a smorgasbord of client types — with different financial situations and goals — you need multiple service models. Different clients may receive different and better (or worse) service than others. Juggling the many disparate needs of these clients can quickly leave you feeling stressed, overworked and burned out.
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Sumnmary: When meeting with advisers in their offices, I often hear, “The average age of our client base is 67 years old. We know the statistics — 90% of children fire their parent’s adviser. We are scared to death that we will lose the next generation. We need to offer a robo solution because these kids have grown up in the digital age!”
