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Summary: Advisory firms all approach their businesses a little differently, but some strategies can help each one boost productivity and profitability, according to Mark Tibergien, chief executive, Pershing Advisor Solutions. He was speaking at the InvestmentNews Best Practices Workshop in Chicago on Tuesday.
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Summary: Content” marketing — creating media aimed at helping you acquire and retain customers — is an effective way to tell your story and differentiate your practice from others, says Bill McGuire, writing in ByAllAccounts’ blog.
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Summary: For female financial advisers, it seems that one of the biggest hurdles to running a successful and fulfilling business is knowing when to offload some work to other parties. A panel of female financial advisers met at InvestmentNews' Women Adviser Summit in New York on Tuesday morning to discuss the business and emotional benefits of outsourcing organizational duties to a trusted third party.
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Summary: Most independent advisers spend almost half of their working hours on non-client-facing projects, such as office administration and management, investment research and asset management, and professional development. In other words, advisers dedicate barely half of their time to serving clients!
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Summary: 2013 was another period of sky-high revenue and AUM growth and strong profit margins at advisory firms, according to the InvestmentNews 2014 Financial Performance of Advisory Firms. More and more, the modern advisory firm is looking like a business rather than the small practice of the past. That maturation process has been accompanied by an evolution in the way firms monitor and sustain their success.
