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From Market Dominator, Metropolitan San Francisco, CA Area
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Summary: Independent RIAs can derive benefits they may not have realized by leveraging a chief operating officer to manage day-to-day responsibilities. So says the sixth in a series of industry reports from PFI Advisors, a firm that works with billion-dollar breakaway teams to establish their own RIAs. The report says that although RIAs generally regard COOs as cost centers and not revenue generators, leaving the management of ordinary activities to COOs frees up RIAs to focus on business development and client service.
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Summary: One word can ruin an entire email and one email can ruin a relationship. As communication becomes more digitized, it’s important to have the right tone anytime you are sending an electronic message. Here are eight phrases that will stop prospects from wanting to do business with you.
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Summary: Although wealth managers have serious concerns about fee compression, a Cerulli report says that it’s a primary determinant in choosing a provider for relatively few investors. In its report U.S. Retail Investor Advice Relationships 2018: Optimizing Engagement, Cerulli says that client behavior is less tied to fees than advisors might think.
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Summary: Even if RIAs with less than $500 million in AUM aren’t ready to buy or sell, they should be assessing their M&A prospects, said Slater, vice president of practice management and consulting for Fidelity Clearing and Custody Solutions.
