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Summary: Social media and other online communication may be top of mind for financial advisers, but many find there is no substitute for old-fashioned, in-person client events.
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Summary: McKinsey & Company most recent report on retail asset management is, of course, aimed at helping product providers up their game. But its findings also shed light on the financial-advice business — specifically, where growth is expected to be strongest over the next several years.McKinsey says the wirehouses will capture only 2% of those assets, compared with 28% for RIAs and 21% for independent broker-dealers.
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Summary: The big Wall Street brokerages like the boost in steady revenue that comes from having more client money in fee-based accounts, but there is an added benefit: broker productivity rises, too.
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Summary: "Just trust me.” “Why don’t you trust me on this?” “Trust that it will all work out.” These are sentiments any person in business today has heard at one point or another. It could be the boss telling you to trust you will be treated right, a colleague telling you to trust they will deliver their portion of the project or a vendor asking you to trust they will apply the credit for your company correctly.
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Summary: As more advisers adopt online strategies to stay competitive in a changing market, a new deal struck between a traditional advisory firm and a Silicon Valley robo-adviser highlights how technology is disrupting the industry.
