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Summary: Over the course of a decade, a new practice goes from zero to $50 million in assets under management while another practice amasses twice that amount. In the next decade, the larger firm plateaus while the smaller one goes on to eclipse it in asset growth. Why the difference? And just how much should advisors expect to grow year on year?
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Summary: At most advisory firms, the founders are the primary rainmakers. They seem to have this innate, magical ability to bring in new business, and their entire firms have grown up around them to support them in that role. I believe it takes more than monetary rewards to build an organization focused on successful business development. The answer lies in implementing these six key strategies.
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Summary: When a prospects asks “what do you do?,” there is nothing you can say, no words that will come out of your mouth, that will be so interesting, so titillating that it will stimulate curiosity to learn more about your professional services.
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Summary: Girard Securities, a San Diego-based independent broker-dealer, has just completed a yearlong project to go paperless. The paperless project was time-consuming and involved several teams, but it has resulted in better workflow tracking and electronic signatures at the IBD, said Claire Maurer, associate vice president of adviser relations for Girard, which is now in the process of being acquired by Nicholas Schorsch's RCS Capital Corp.
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Summary: All financial advisers want direct, deeply personal relationships with wealthy families. As the chief investment officer for one Midwest-based family office told me, "The only way to provide valuable advice is to truly understand them."
