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Summary: Let’s say you’ve recruited, hired and trained a couple of Gen Y advisors, and now you’re ready to let your younger hires take meetings by themselves. They have the training and technical knowledge, and can explain complex theories with ease. But a client’s big financial needs often come alongside major life shifts — marriage and new children and grandchildren, but also death, divorce and medical needs. Are your advisors prepared to handle tough, emotional conversations? Have you trained them to do so?
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Summary: I have spent countless hours over the last several years doing research on the brokerage industry. In fact, if you add up all the research my entire team has done we have invested over 7,000 hours. We have discovered a lot of interesting things about many different firms.
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Summary: Dan Heath, a senior fellow at Duke University’s Center for the Advancement of Social Entrepreneurship and co-author of “Decisive: How to Make Better Choices in Life and Work,” gave attendees at IMCA’s annual conference on Monday four reasons their decisions and their clients’ fail.
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Summary: Countless books and movies have been written about the point at which computers shift from being our friend to becoming the enemy. For financial advisers, the battle lines are being drawn right now.Over the course of our careers, computers have helped elevate the services we provide to clients and have driven down costs.
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Summary: Advisers spend a lot of time thinking about their growth strategies. Two years ago, when InvestmentNews fielded the 2012 InvestmentNews/Moss Adams Financial Performance Study of Advisory Firms, we identified a subset of firms that were deemed “top performers." These firms were defined as the top quartile of participants across a range of metrics including revenue growth, cost control and profitability. The study found that the fastest-growing and most profitable firms sometimes take an unconventional approach to their business models.
