When registered reps set about advising clients on where to put their money, they usually focus on risk tolerance. A conservative-minded client, for instance, might get a portfolio heavily laden with fixed-income products; a more aggressive client...
The good news for high-net-worth hunters: A large subset of affluent clients self-directed investors tend to be nonplussed by their current advisory relationship. The bad news: Inertia has a strong pull on this group. According to a recent report...
Small-business owners are typically a self-reliant lot, and this fact cuts two ways for financial advisors who would serve them. On the positive side, the advisor who gains access to a small-business owner has reached the decision maker, the...
Wealthy clients weigh a lot of factors when choosing a financial advisor cost of services is one of them, but it is far from the most important. Indeed, according to our research, low-cost provider considerations are rarely a decisive part of a...
Much has been written in this space about how to attract, service and retain affluent clients, but there has been precious little about what actions to avoid. Drawing from my firm's research, here are 10 transgressions virtually guaranteed to...
Financial advisors who fancy themselves wealth managers are having trouble walking the talk. This is the most significant finding of our recent research into the business of wealth management. In past columns, we've argued that adopting a wealth...
Creating a constructive outlook for the coming year. William Blake once wrote, If the doors of perception were cleansed everything would appear to man as it is, infinite. At the risk of trivializing his statement, Blake's wisdom means something to...
The coming year will bring forth unprecedented opportunities to attract wealthy clients. In 2005, an estimated 17.4 million U.S. households will have annual incomes exceeding $100,000. Further, the number of millionaire households, which jumped...
In the wake of the improprieties and scandals of the past few years, the financial services industry is abuzz with talk of ethics and image. One of the key questions firms are asking is what role, if any, branding plays in their credibility and in...
Anyone who has ever let household chores get the better of him is well-acquainted with the most significant obstacle facing wannabe high-net-worth advisors: inertia. You can look at those cracks in the bedroom ceiling every day when you lie down...
