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Summary: Advisors from all over the country descended on Chicago for the Envestnet Advisor Summit, held May 14 to 16. Sessions ranged from the usefulness of new enhancements to the firm's cloud-based advisor software to discussion panels on investment, planning and practice management topics. The article provides some key takeaways from the conference.
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Summary: A looming advisor shortage and a limited pool of prospects means retaining advisors is the top job for many managers. Here's how to spot, and keep, talent on the brink of jumping ship. Workplace consultancy Rainmaker Thinking recently surveyed 41,000 professionals (6,000 of them from the financial services industry) and found that 46 percent felt “stuck” in their current job, and had for at least the past year. Twenty-five percent said they have felt that way for over three years.
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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: Fidelity Institutional announced Wednesday that is has opened an intriguingly named “Office of the Future” on its Smithfield, R.I., campus. The office was designed with input from the Fidelity Center of Applied Technology to address macro technology trends that have the biggest impact on advisors in the near future: mobile, pervasive video, evolving interfaces, cloud computing, social media, big data and gamification.
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Summary: People make mistakes. And when the mistake maker is a financial advisor, and the error affects a client, experts say a clear and unambiguous apology is called for. The rewards are easy: client loyalty and trust that goes on for years to come,” writes Xenos. “Also, it helps you as an advisor clear your conscience and feel truer with the relationship.
