Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
All Articles
Letting Go of Less-Than-Ideal Clients
From byallaccounts
Added on July 2014 in Form an RIA
1 visitor like this article | Viewed 4629 times | 0 comment
Summary: Some advisors hold onto clients that they consciously know are bad for them instead of taking one bold step that could improve the quality of their business. The challenge of letting go is tough for some people especially if they see their business situation as not so great but are more afraid of the unknown. It’s been said that the unknown is where your professional potential lies and that choosing the discomfort of change will reveal to you a whole new world of possibilities.
The 5 Traits of Great Client Service People
From Think Advisor
Added on July 2014 in Manage Your Practice
1 visitor like this article | Viewed 3613 times | 0 comment
Summary: The “key” to great client service is great client service people. I know this probably sounds obvious, but you’d be surprised at how many owner-advisors just don’t seem to get it. The reality is that no matter how great an advisor they are, the majority of every client’s contact with their firm will not be with them as the firm gets bigger: it will be with their employees. If those employees create a bad impression—are brash on the phone, are argumentative, don’t follow up, etc.—that’s how that client will see your firm.
39 Great Ways to Improve Your Practice
From Financial Planning
Added on July 2014 in Form an RIA
1 visitor like this article | Viewed 3745 times | 0 comment
Summary: Get smarter about communicating with existing clients — and attracting new ones. Sharpen your overall business strategies, and improve your social media presence.No matter how successful an advisor becomes, there are always ways to hone a firm’s practices to reach more clients and improve profitability. We scoured Financial Planning’s many Web-only features, blogs and videos to find the best ideas our readers might have missed.
3 Ways Advisors Must Change to Survive Robo-Advisors
From Think Advisor
Added on July 2014 in Thought Leadership
1 visitor like this article | Viewed 3033 times | 0 comment
Summary: As so-called "robo-advisors" continue to grow, offering their services to more and more consumers at a modest 0.15% to 0.35% cost, the question arises whether such services will ultimately be a threat to traditional advisors. Can human advisors survive in a world where robo-advisors commoditize the cost of passive strategic portfolio construction down to almost nothing? What can today's advisors do to fend off the threat?
Some Advisers Tap Potential of Small Accounts
From Wall Street Journal Online
Added on July 2014 in Manage Your Practice
1 visitor like this article | Viewed 4308 times | 0 comment
Summary: Financial advisers sometimes ask how they can serve clients with relatively little to invest and still make a profit. Scott Hanson has an answer. His wealth-management firm in Sacramento, Calif., decided to expand "downstream" in 2009, when it lowered its minimum account size to $50,000 from $250,000. In the years since, it has added around $100 million in assets under management from almost 800 clients who wouldn't have met the previous minimum.
