Manage Your Practice
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How Hard Is It to Pick the Right Custodian?
From Financial Advisor IQ
Added on August 2014 in Manage Your Practice
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Summary: Again and again, advisors have commented to FA-IQ that, as far as they and their clients are concerned, the major custodians don’t differ much in their core services. At the end of the day, they say, all offer fairly standardized processes for opening accounts, safekeeping securities, clearing transactions and conducting wire transfers. Yet, in a recent FA-IQ poll, 62% of readers indicated the choice of custodian matters a lot.
The Four Traits of the 'Perfect Advisor'
From Think Advisor
Added on August 2014 in Manage Your Practice
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Summary: All investors are looking for the ‘Perfect Advisor,’ but for some reason, many never find them. It’s no wonder, if even some of what I’ve heard investors want in their ‘perfect advisor’ is true! Allow me to elaborate.
Staff Key in Getting Referrals
From Wall Street Journal Online
Added on August 2014 in Manage Your Practice
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Summary: Advisers work hard to get their clients and professional contacts to recommend their services to others. They sometimes don't focus enough on another key source of referrals: their staff. Not just junior advisers but administrative assistants and operational staff all can play an important role in identifying and developing new leads. To get them really involved, "firms should create a referral culture," says Jylanne Dunne, senior vice president of practice management at Fidelity Investments in Boston.
Making a Presentation? Use These Dos & Don'ts
From On Wall Street
Added on August 2014 in Manage Your Practice
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Summary: Presentations have become increasingly important marketing tools for top advisors — but they still strike fear into the hearts of many. At my firm, CEG Worldwide, we have been using both in-person and Web-based presentations successfully for years to reach out to our ideal prospective clients, and we now coach elite advisors on how to use them as well.
Organic growth is key to $4.8B firm's success
From InvestmentNews
Added on August 2014 in Manage Your Practice
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Summary: Ballentine Partners is among the fastest-growing RIAs in the country, and it's one of the few that has built its business organically and without relying on institutional clients to juice its assets. In the past four years, the Waltham, Mass.-based multifamily office has nearly doubled assets under management to $4.8 billion, from $2.5 billion in 2010. In the last year alone, it increased AUM by 25%, according to data collected by InvestmentNews.
