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Summary: As so-called "robo-advisors" continue to grow, offering their services to more and more consumers at a modest 0.15% to 0.35% cost, the question arises whether such services will ultimately be a threat to traditional advisors. Can human advisors survive in a world where robo-advisors commoditize the cost of passive strategic portfolio construction down to almost nothing? What can today's advisors do to fend off the threat?
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Summary: Financial advisers sometimes ask how they can serve clients with relatively little to invest and still make a profit. Scott Hanson has an answer. His wealth-management firm in Sacramento, Calif., decided to expand "downstream" in 2009, when it lowered its minimum account size to $50,000 from $250,000. In the years since, it has added around $100 million in assets under management from almost 800 clients who wouldn't have met the previous minimum.
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Summary: Two years ago, Savant Capital Management set out to establish “a profitable, Web-based wealth-management service to complement” its in-house services, but it was unsuccessful. So writes Glenn Kautt, a principal of the firm, in Financial Planning magazine.
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Summary: The shifting jobs landscape, with higher-paying positions shrinking and low-wage work growing, is more than just a monthly set of statistics for many financial advisers.Advisers are helping people directly affected by the change make adjustments in their lives and rework their plans for the future.
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Summary: Good bosses have strong organizational skills. Good bosses have solid decision-making skills. Good bosses get important things done. Exceptional bosses do all of the above -- and more. (And we remember them forever.) Sure, they care about their company and customers, their vendors and suppliers. But most importantly, they care to an exceptional degree about the people who work for them.
