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Summary: The rise of technology is creating a new service model for financial planning – the “virtual” advisor, who uses web-based tools and technology to serve clients, regardless of where the client (or advisor) happens to be.
Added on July 2015 in M&A Issues
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Summary: There is an inescapable truth that exists in the RIA community. The fact is, an overwhelming majority of advisory firms want to buy another firm. Their desire to grow inorganically is the same, whether they have $2 billion, $200 million or $25 million of assets under management. Where does this desire come from? We like to refer to it as the “Buyer’s Bias,” which is comprised of a series of factors that support the notion that along with being human, advisors are vulnerable to human biases.
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Summary: Pershing Advisor Solutions’ CEO Mark Tibergien was an early and vocal proponent of the serious industry need to attract and retain younger advisors to replace departing (and dying) advisors, citing data that since 2008 there are 50,000 fewer professionals in the industry.
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Summary: Kivvik, a new website for enabling communication between advisers and clients that launches Monday, is looking to put a stop to advisers' calling and emailing haphazardly to get updates on clients' life-changing events.
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Summary: The old adage “Plan your work and work your plan” may be cliché but is often the difference between success and failure to execute your marketing goals. Start by defining very specific and measurable goals. Try to set short term and long term goals that are reasonable and achievable. Next, develop a strategy that details the tactics, resources, budget, and schedule.
