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Summary: Far too many financial advisors and accountants see each other as neighbors who visit every once in a while, when they should see the professions as siblings who take care of each other. Advisors plan for the client’s future, while accountants consult on the client’s past. Not only must these distinct fields work together for the client’s best interests, but doing so can also make both practices more profitable.
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Summary: Merge your technology plan with your business plan – Many firms develop a plan or ideas to add value to their current business model, and then think about technology later in the process. Define upfront how technology should be used to support your ideas.
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Summary: Data aggregation is currently one of the hottest topics in the financial services industry. As technology evolves and robo-advisers attempt to snatch clients, advisory firms are seeking new ways to stay competitive.
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Summary: When asked about their most valuable asset, advisory firm leaders typically laud their organization's people. Certainly this messaging connects with the market, but are you sure this professed priority aligns with the realities of your firm? Do your own people see the image you portray?
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Summary: In his 2007 book “Blink,” Malcolm Gladwell combines a broad spectrum of research to make the case for the power of first impressions. One of his quoted sources is relationship counselor John Gottman, who penned “The Science of Trust” and other books on human relationships. Gladwell focused on Gottman's “four horsemen of the apocalypse” behaviors as strong predictors of how a relationship will work out. Unfortunately, according to Gottman himself, Gladwell got it wrong.
