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Summary: We’ve long reported on the impact of more personal relationships with clients, talking often about the “emotional connection” that benefits advisors and clients alike. In our most recent project, we simplified this study to focus on whether or not a client considers their financial advisor a friend. If you’re curious, 55% said they did, 35% said they did not, and 10% weren’t sure.
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Summary: Advisers today have many tools to help them increase their efficiency, and technology, in particular, allows for unparalleled opportunities to be productive. When advisers are able to accomplish more without adding additional staff, they see better business metrics and greater profitability.
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Summary: Regular listeners to our COO Roundtable podcast have heard me make the claim many times that the average RIA owner drastically discounts the value of a chief operating officer because, in their minds, the COO is someone who simply reboots the router when the internet goes down in the office—nothing more.
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Summary: While financial advice firms traditionally have been slow to adopt new technology, pandemic restrictions provided a new impetus for employing various fintech solutions. The 2022 InvestmentNews Adviser Technology Study provides insight into what independent advisory firms are doing in this year. Click through to see the financial technology solutions that are gaining the most traction, based on the portions of firms that said they planned to add the solution in 2022.
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Summary: Trade associations in the investment advice sector are voicing concerns about the reporting mandates of a proposed SEC cybersecurity rule for registered investment advisers and companies.
