I spent the last several weeks speaking with successful financial advisory firms. The question we explored together: “What are the most important things you have learned about running a wealth management business?” During the conversation, five major lessons emerged - with ‘growth’ being a key cross-cutting theme across the board. Importantly, these lessons came from listening to client needs, treating people well, and putting in energy to strategic planning. Whether you’re starting your career or building on years of experience, here are five important lessons for investment professionals.
A new year is just around the corner, and I’m really excited to talk about our product roadmap, but first, I want to say my thoughts are with everyone who has been impacted by Covid-19. It’s my sincere wish that all of you, your family and friends stay safe and healthy. There’s nothing more important than the well-being of your loved ones. The incredible news that vaccines are becoming available now makes me even more hopeful we’ll be able to come back together in 2021. I look forward to being in an office with my colleagues again, catching a Broadway show with my family and having a nice dinner surrounded by friends.
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Attending industry conferences allows advisors to network, hear from experts, and explore relevant challenges and opportunities facing today’s financial services industry. Attendees take the knowledge gained from these events and integrate it into their practice to further deliver value to clients. Many of these conferences were interrupted in 2020 by the coronavirus pandemic -- shutting down all in-person events after the March outbreak through the end of the year. Planned events were canceled or rescheduled, while most pivoted to a virtual format.
Expectations of working with a financial advisor have changed. The digital world we live in today has played - and will continue to play - a large part in how prospects find, select, and hire financial advisors. These days, most information is consumed digitally and through multiple sources of information - sometimes by only scanning the headlines. With so many resources available, investors make better, more informed buying decisions in all aspects of their lives.
As a training specialist for AdvisorEngine’s Junxure, I witness first-hand what works and what doesn’t when it comes to running an effective client relationship management (CRM) system. One firm I recently worked with had work processes that literally were all over the place -- scribbled down on whiteboards, shelved inside filing cabinets, noted on sticky notes stuck to walls, handwritten memos, and more.
We are excited to announce new enhancements to our Junxure® product, designed significantly to reduce the time it takes to produce reports. A financial advisor’s time is best spent servicing clients and building relationships, not sitting in front of a screen, waiting for data to load. With that in mind, we’ve rebuilt our functionality to maximize performance. Now, for instance, Action reports will load and be ready to print six times faster.