From Financial Planning
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Summary: The industry is evolving, and advisers need to move away from the kind of ad-hoc career development that has defined the business in the past. This has meant that employees’ jobs have just morphed as firms grow, without any systematic management changes or guidance.
From Barron's
Added on November 2016 in Other Ideas
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Summuary: To any advisor dismissing or ignoring the millennial generation, a few words of insight: you are making a mistake. The largest generation in U.S. history, born between 1980 and 2000, numbers 90 million. Many millennials are still too young to have amassed significant savings, but by 2020, they will have $7 trillion in liquid assets, according to Wealthfront, and they are in line to inherit another $41 trillion from their parents and grandparents. A giant wave is coming at the advisory industry; you can either ride it, or be swept away.
From IRIS
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Summary: Smart professional firms and sellers adopt a variety of tactics to overcome this with the core principle being to nurture the relationship with high potential customers over time. Each interaction – be it a call, a meeting, a useful article clipped and sent, or an email newsletter – is designed to add value to the customer/prospect and to strengthen the relationship. Done well, these approaches have a huge payoff.
From IRIS
Added on November 2016 in M&A Issues
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Summary: From aging advisors, to low-cost online competition, to more strict regulatory requirements increasing the overall cost of doing business, savvy buyers are able to capitalize on these trends in order to grow assets and acquire talent through aggressive inorganic growth strategies.
From Think Advisor
Added on November 2016 in Form an RIA
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Summary: Three technology executives say there are several key ways advisors can use technology to achieve scale and efficiency in their firms, which they shared Thursday during a webinar hosted by ThinkAdvisor and sponsored by Pershing.
