From WealthManagement.com
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Summary: Consumers expect a personalized marketplace. But why is it that retail and service businesses are comfortable categorizing their grocery stores and hotels, while we in the financial-advice industry shy away from making similar categorical offerings to our clients? The future of retail, technology and marketing is personalized—and your firm's service offering should be too.
From WealthManagement.com
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Summary: Many advisors are solo practitioners, running their own business with no other employees. But as advisory teams become more common and advisory firms continue to merge together to build scale, many advisors are finding themselves at the top of a hierarchy, with a number of employees reporting to them. Carla Harris, vice chairman of wealth management, managing director and senior client advisor at Morgan Stanley, had some practical advice for advisors who find themselves in leadership positions.
From Wall Street Jornal Online
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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.
From Financial Planning
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.
From InvestmentNews
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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.
