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Summary: Like most advisory firm owners and business consultants today, when I started my consulting business 15 years ago I thought business consulting was an ongoing process: with the consultant serving as an “off the books” member of the executive team, working to grow a successful advisory business. I even described my services as a “virtual CEO or COO,” or some fancy name that I care not to remember.
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Summary: When you work with a smorgasbord of client types — with different financial situations and goals — you need multiple service models. Different clients may receive different and better (or worse) service than others. Juggling the many disparate needs of these clients can quickly leave you feeling stressed, overworked and burned out.
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Sumnmary: When meeting with advisers in their offices, I often hear, “The average age of our client base is 67 years old. We know the statistics — 90% of children fire their parent’s adviser. We are scared to death that we will lose the next generation. We need to offer a robo solution because these kids have grown up in the digital age!”
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Summary: Robo-only advisors have recently been very successful at raising new capital and focusing their resources on winning over millennials. Therefore, we find it timely to discuss the client’s historical need of a financial adviser
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Summary: Over the last two years in particular, we have witnessed a series of events that have been highly disruptive to a number of retail broker-dealers
