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Summary: You don't have to be an industry veteran to achieve great things. A recent study discovers a select group of advisors who are enjoying significant success even though they're quite new to the industry. These advisors all had less than five years of experience when we surveyed them, but already had reached $50 million in assets under management - a milestone some advisors never achieve. We dug deeper to understand who these advisors are and how they accomplished such impressive results in such a short time. Here's what we learned.
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Summary: Since the holiday shopping season officially starts immediately after Halloween, it’s not too early for advisors to start thinking about what kind of swag they’ll bestow on clients this year.
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Summary: An in-depth analysis of how you and your team are spending your time is a key step in building a sustainable practice that achieves the goals you’ve set for your practice and your life, says Susan A. Riley-Hayes, who owns Highpointe Wealth Advisors speaking at SourceMedia’s Women Advisors Forum in Chicago.
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Summary: Practice management experts frequently seem to be urging you to create a scalable enterprise, acquire professional management and develop clear metrics that will help you make better operational decisions. It appears that the profession is going through a phase where thousands of practices are taking this advice to heart, becoming businesses either through mergers of equals, acquisitions of firms of retiring advisors, or hiring key employees and turning them into partners.
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Summary: Financial advisers who want to keep managing the wealth their clients' children will inherit should be approaching those kids very differently than the way they appeal to their parents, a generational expert told advisers.Generation X, 34 to 48, and Millennials, also called Gen Y, who are 13 to 33, want an adviser who will teach them but not "tell them" what to do.
