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New robo adviser for Hispanic clients speaks their language

Added on February 2017 in Manage Your Practice
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Summary: Startups like Finhabits represent the broadening of digital advice offerings into even more niche audiences, fintech execs and observers say. Garcia, founder of Finhabits, notes the higher fees are accepted by his clients because the specialized platform's presence in those communities is a value in itself.

Three Ways Independent Advisors Need to Adapt to Truly Be 'Full Service'

Added on February 2017 in Manage Your Practice
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Summary: Due to the rise of "robo advisors" and other digital platforms, retail investors have access to a broad range of relatively cheap and highly sophisticated third-party asset management offerings. So, while asset management will always be a component of any independent advisory practice, the day is fast upon us—if it hasn’t come already—when it can no longer be the principal focus. 

10 ways to embrace trends radically changing financial advice

Added on February 2017 in Manage Your Practice
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Summary: Financial advisers today face changing client needs, technology-driven disruptions, increasing competition and other businesses pressures, but there are ways for them to leverage these transformations, according to Michael Kitces and Alan Moore, co-founders of the XY Planning Network. They presented these suggestions at the TD Ameritrade National LINC 2017 conference in San Diego.

Six Steps to Effective Delegation

Added on February 2017 in Manage Your Practice
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Summary: Wikipedia tells us that, “Delegation is the assignment of authority and responsibility to another person to carry out specific activities. The person who delegated the work still remains accountable for the outcome of that work. Delegation is supposed to empower a subordinate to learn and to make decisions.”

Technology or the Advisory Firm? What Comes First?

Added on February 2017 in Manage Your Practice
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Summary: Wikipedia defines the famous ‘chicken or the egg’ question as the “causality dilemma” and in our current world of technology, we cannot help but apply such a dilemma to our industry.

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