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Summary: Art Haws of HawsGoodwin Financial says advisers must consider cost, integration and marketing the new automated platform separately from the main financial planning operation.
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Summary: It has been said, “It doesn’t matter if you win or lose — it’s how you play the game.” But, what if you are competing against an opponent that far outweighs your capabilities and resources, making your odds of winning more than unlikely? Is it still worth it to even play a game you can’t win?
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Summary: Tech glitches that cause short-term downtime are more likely to interrupt the flow of daily operations than catastrophic events. A recent report by KPMG found that 35% of the IT failures reported in the financial services industry are related to availability — that is, a service or system was down when needed. Another 28% involved technology that failed to behave as it should.
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Summary: It’s not just Millennials who’ve come to expect certain services delivered online and in real time. Today’s high-net-worth (HNW) clients of all ages have technology expectations that, if left unmet, could lead to lower client retention and lost new business.
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Summary: As the independent advisory business transitions from small business to the next level, firm owners need to transition, too. We’ve written a lot over the years, about how, as firms grow, owners need to become good people managers. They also need to become good leaders; and one of the most critical times for owner-advisors to step up and be a leader is when they or their employees make a mistake or when some new initiative doesn’t do as well as expected.
