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Summary: Data aggregation is currently one of the hottest topics in the financial services industry. As technology evolves and robo-advisers attempt to snatch clients, advisory firms are seeking new ways to stay competitive.
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Summary: When asked about their most valuable asset, advisory firm leaders typically laud their organization's people. Certainly this messaging connects with the market, but are you sure this professed priority aligns with the realities of your firm? Do your own people see the image you portray?
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Summary: In his 2007 book “Blink,” Malcolm Gladwell combines a broad spectrum of research to make the case for the power of first impressions. One of his quoted sources is relationship counselor John Gottman, who penned “The Science of Trust” and other books on human relationships. Gladwell focused on Gottman's “four horsemen of the apocalypse” behaviors as strong predictors of how a relationship will work out. Unfortunately, according to Gottman himself, Gladwell got it wrong.
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Summary: Financial-advice professionals continue to debate the merits and disadvantages of various compensation models. But what’s really at stake is consumer trust, ThinkAdvisor writes, in an article reprinted from Investment Advisor magazine. And in order to gain it, advisors need to focus on fee transparency regardless of how they collect.
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Summary: I think that the recession of 2007 to 2009 was a real time of learning for many financial advisors, myself included. We knew from our research that a 20% drop in the market would likely be followed by a corresponding bounce, and we employed multiple strategies to hold clients in place when they wanted to bolt from the market. Over that entire tumultuous period, we lost only one client — and that experience taught me some useful lessons that I still think about to this day
