From Wall Street Journal Online
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Summary: Many advisers are good at math and have a feel for the markets. Most also have a knack for networking and sales. The most successful ones set ambitious goals for themselves and their business. They want to win, and to do right by their clients. But advisers must rely on staff. Leading them well, and keeping them happy, becomes even more important as a practice grows and more tasks need to be delegated. If it grows enough, the adviser may find he or she is also managing other advisers.
From SEI Advisor Network
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Summary: The successful advisors I know typically have a marketing plan all year long. What is interesting to me is that many of them have a strong fourth quarter push. If you don’t have a plan or a fourth quarter push, the good news is that it is not too late. You can get started today — but you are running out of time.
From Think Advisor
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Summary: I’m often struck by the parallels between the independent advisory business and consulting with independent advisors. For instance, most veteran advisors I know have learned not to take clients who aren’t ready to take advice; no matter how big their portfolio is, it’s just not going to be a pleasant experience for anyone.
From Financial Advisor IQ
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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?
From InvestmentNews
Added on August 2014 in Other Ideas
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Summary: In our upcoming benchmarking study, the 2014 InvestmentNews Financial Performance Study of Advisory Firms, one of the questions we sought to ask was: How can advisory firms, which have experienced near exponential growth, make their prosperity sustainable?
