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Summary: WSJ Adviser Profile: Andy Schwartz, managing partner of Bleakley Financial Group, says limiting staff turnover is crucial to a practice’s success as it helps breed client trust and bolsters client retention.
Added on August 2017 in Form an RIA
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Summary: Advisors have long hunted the $13 trillion in total investable assets held in high-net-worth households. In fact, 13% of advisory firms now focus on the wealthiest clients that account for less than 1% of the U.S. population, according to new research from Cerulli Associates.
Added on August 2017 in Other Ideas
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Summary: Management guru Peter Drucker once described predicting the future as driving down a country road at night with no lights on while looking out the rear window. Admittedly, no one can precisely predict how advisers and firms will work too far down the road. Nevertheless, several forces in the larger economy and society evident today are shaping the future of advice in key ways. Here are three examples coming our way, and their possible impact on the provision of financial advice.
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Summary: Advisers today are busy. While having to manage a large book of client accounts, they also need to develop effective ways to drive new business. To do this, they may want to create and deliver content designed to educate investors and promote their services. Unfortunately, even when advisers have great content ideas and the best intentions to improve client communications, they don't have time to execute.
Added on August 2017 in Form an RIA
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Summary: While fiduciary advocates applaud the Certified Financial Planner Board of Standards’ revised standards of conduct — specifically for expanding the scope of a CFP’s fiduciary duty and moving the industry toward a profession — they say the Board must clear up some ambiguities, and even seek more comments, before adopting the plan.
