I’m fortunate to work with highly motivated and passionate independent advisors and their teams. When I’m meeting with them, I get the opportunity to hear about the firm-level strategic goals they’re focused on. Unsurprisingly, many of these strategic goals are only possible through technology. Modern technology is creating new ways for RIAs to drive growth, achieve efficiency, ensure client-centricity, build trust and enable compliance. Here are five things to consider when adopting new technology and how it could benefit your firm:
Choosing a custodian relationship is one of, if not THE single most important decision any new registered investment advisor must make. It should not be taken lightly. There are many custodians in the marketplace - not all will be the right fit for your business. To explore the process of choosing the best custodial relationship, I had the opportunity to catch up with industry experts and thought leaders Joel Bruckenstein and Craig Iskowitz to have them weigh in on the top questions they believe breakaways or new RIAs should consider asking potential custodians.
A long time ago (in a galaxy far, far away) I was a financial advisor. I’m proud of many things that I achieved - but with the benefit of hindsight, I realize that there are some things I could have done differently. I’ll share with you now the biggest mistakes I made as a financial advisor and how to avoid them. My hope is that this will serve as valuable advice for those in the advisory role and also as a guide for those who are seeking financial advice.
Every year, financial advisors have the opportunity to attend a multitude of industry conferences held across the country, and our choices seem to be growing every year. And no matter where your office is located, these conferences are an investment of time and money. If you’re sending multiple members of your staff, which I encourage, you’re looking at a potential impact on your day-to-day business. If those reasons are giving you pause to attend, you’re not alone. Among my friends and colleagues, I am always surprised by how many advisors never go to these events. The value of these cannot be overstated – the education component, combined with the incredible networking opportunities to talk to other advisors and business owners about their challenges and solutions are truly invaluable.