Added on April 2014 in Other Ideas
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Summary: If you want to stay relevant as an adviser in the future, then it's time to start ramping up your offerings to better serve tech-savvy Millennial clients. Such was the theme at a panel discussion Thursday at the Securities Industry and Financial Markets Association's Private Client Conference in New York. The panel covered the latest factors that advisers need to take into consideration when weighing their service offerings in the future.
Added on April 2014 in Other Ideas
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Summary: Mega advisor teams with $500 million or more in assets under management control 42% of advisory marketshare, and are best poised to attract high-net-worth clients, according to a new report by Cerulli Associates.
Added on April 2014 in Other Ideas
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Summary: For advisors to the wealthiest families, a new report suggests that it's not what you do that matters -- it's how you do it. More specifically, it's the way that wealth management services are delivered to rich families -- as opposed to the service menu itself -- that has become the biggest differentiator for leading advisory firms, according to a new report from the Family Office Exchange. That smarter approach to client service is what will help firms stand out in an era of product commoditization, according to the report, The State of the Art in Family Wealth Management.
Added on April 2014 in Other Ideas
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Summary: Revenue that advisers generated from client assets fell during each of the past two years, even though they increased their assets under management over that period, a new report shows.The average revenue advisers generated from assets declined to 0.68% last year, from 0.69% in 2012 and 0.72% in 2011, according to a PriceMetrix Inc. report released Monday that analyzes transaction and account data of 40,000 advisers.
Added on April 2014 in Other Ideas
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Summary: For the first of a series of special reports on the Crossroads the financial advice business is facing, we posed one question to top industry leaders: What turning point do you see the overall financial advice industry facing at the current moment? Here is what they said.
