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Summary: Despite its ubiquity in everyday life, texting is closely regulated for financial advisors—to the point that texting clients and prospects can feel almost too risky to be practical. Consider this statistic: Americans make five times as many texts as phone calls. Texting is immediate, it's convenient, and in the event you need to refer back to what was said, it's all right there. So why won’t your broker-dealer allow you to send a text when you need to get in touch with a client, and what can you do about it?
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Summary: With 2018 coming to an end, here are some of the top business concerns that are keeping advisers at Best Practices Award-winning firms up at night. Check out their 2019 priorities to see if your firm should be thinking about these challenges for the new year.
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Summary: As the average age of clients continues ticking upwards, firms across the financial advice industry are discussing attracting Gen X and Gen Y clients.But talk is all that many firms are doing. Recent data from TD Ameritrade reports only 23% of registered investment advisers have a strategy in place for younger clients.
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Summary: Client satisfaction with advisors at major firms is on the decline, according to the latest results on the sector from the American Customer Satisfaction Index.
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Summary: Starting a new relationship with a client is harder than it looks. Whether it’s a philosophical difference or managing expectations, it’s sometimes difficult to find the right fit. Here are six interactions advisers said they learned from when bringing on new clients.
