RIA firms spend an average 2 percent of total revenue on marketing and business development, according to the 2014 Fidelity RIA Benchmarking Study. “You got to dedicate some time and some money,” said Fidelity's David Canter....More
In compiling this list of 10 books of particular interest to finance professionals, there are some titles that couldn’t be ignored. But for the most part, we searched far afield to find lesser-known works that offer fresh comment on the mysteries of finance, leadership and customer service.
Chances are, your CPA and attorney partners don’t get as much training as you do on the topic of working with other professionals. In many ways, it’s up to you to offer best practices on how these relationships works best....More
The U.S. Securities and Exchange Commission plans to launch a sweeping set of reforms designed to ensure that large asset managers are properly dealing with risks and have plans to wind down in the event of a major market disruption....More
Financial advisors do not appear to be carrying their weight. A new study based on Canadian data shows that while advisors are able to put clients into better performing assets, they simply do not outperform their costs....More
Every single investment advisory firm registered with the Securities and Exchange Commission should be examined every year, said Harvey Pitt, the former SEC commissioner, and the SEC should certify outside auditors to conduct the exams....More
We all want to be virtuous, right? Well, mostly, anyway. One cannot be virtuous all the time. But it helps to at least know virtue from vice, so that you can engage in more of the former and less of the latter. Be a saint, not a sinner!
Most advisors give their top clients gifts for the holidays--it's almost expected. So what does it take to stand out? These eight advisors put some thought into the annual ritual and came up with something a bit more interesting than your typical gift basket.
Research shows that while the average age of financial advisors has gone up, the percentage of advisors that don't have a succession plan in place has gone up as well. Why don't more advisors have a plan, and how can the industry better prepare for the future.
Technology is a critical differentiator in today's digital age for running an efficient and effective practice. Those entrepreneurial financial advisors and wealth managers who are leveraging technology in their firms are creating better client experiences, improving cash flow, generating new revenue streams, and scaling their services....More
Shedding non-core activities can free advisors to focus on what’s really important; meeting with clients and engaging in other revenue generating activities. Outsourcing the investment management function of the practice is one way to do so. For those still skeptical—the proof is in the results....More