Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
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Advisors: How to Retain New Hires
From Financial Planning
Added on January 2014 in Plan for the Future
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Summary: By now you should be aware of the talent shortage and recruiting challenges facing the financial planning profession. So once you do finally get everyone onboard and in the right seats for your organization, what should you be doing to ensure that your culture and management mentality perpetuate an attractive place for them to work and grow for years to come? Here are some things to remember and tips to consider.
How to connect with the fastest-growing client demographic
From InvestmentNews
Added on January 2014 in Thought Leadership
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Summary: Financial advisers seeking to build relationships with the fastest growing demographic in America just need to reach out and connect with it. The Hispanic community has a significant unmet need for financial advisory services, has been historically underserved by advisers — thanks to a handful of common misconceptions — and would be very receptive to financial advice if only advisers reached out, according to a study by Prudential Financial Inc.
Don't Bet the Farm on NexGen Clients
From wealthmanagement.com
Added on January 2014 in Plan for the Future
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Summary: Lately the industry’s been a bit obsessive over “the great wealth transfer” and how advisors can appeal to Next Gen investors. But a new PriceMetrix study shows these clients are not as coveted as previously thought. PriceMetrix found that while client retention has been high in recent years—advisors retained 90 percent of clients in 2013— there are several factors that cause retention rates to vary significantly, including age and income.
Financial Advice In 2034
From Financial Advisor Magazine
Added on January 2014 in Plan for the Future
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Summary: During the past 40 years or so, independent registered investment advisors have won a growing share of the hearts and dollars from an investing public increasingly yearning for holistic financial advice and not just stock picks. And as RIAs have taken a bigger slice of the business, traditional brokerages have responded to some extent by upping their game in the comprehensive financial advice department. But as the 21st century enters the midway point of its second decade, the profession seems to be at a transitional tipping point.
Buy your way toward higher assets under management
From InvestmentNews
Added on January 2014 in M&A Issues
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Summary: Yung advisers struggling to gain a critical mass of clients and bulk up their assets under management may want to find another firm to buy. Karsten Advisors, a Fort Worth, Texas-based firm with four financial advisers, all under the age of 40, has acquired nine advisory practices in the last 13 years to reach a total of $250 million in client AUM
