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Summary: Financial advisors prefer to meet their clients face-to-face, according to a new study from Hartford Funds, and not via video. The study of 116 financial advisors—and administered in-person—found that 73 percent of advisors considered in-person meetings their favored method of communication with both clients and prospects. In comparison, only 12 percent of advisors found video platforms like Skype or FaceTime the most useful for client conversations. Among digital options, advisors listed LinkedIn as top choice, followed by Twitter and Skype.
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Summary: Recently, a colleague of mine suggested that "back office" should be considered a bad word, because it's where things go wrong without accountability.
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Summary: A financial advisory practice is a business and you have to make sure you can handle growth in a scalable manner, but just because your practice has just the right number of clients now doesn’t mean you can write off marketing.
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Summary: Cybersecurity continues to be registered investment advisors’ top compliance challenge, with 81% of advisors polled in a just-released Investment Adviser Association survey placing it at the top of their list, the fifth year cyber has held the spot, and nearly two-thirds indicating that their firms increased compliance testing in this area over the past year.
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Summary: In the advisor-client relationship, the advisor provides advice and the consumer provides compensation for that advice. But advisors can—and should—learn from their clients, particularly when it comes to technology.
