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.
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Everything nowadays is all about the “experience.” Why should wealth management be any different? It shouldn’t be. Advisors should strive to provide clients with exceptional financial experiences. Unfortunately, we find that within the realm of the wealth management industry, the financial experience process has been slow to catch up with 21st century standards.
I’m a data quality specialist. I work with wealth management firms every day to ensure that their information is accurate and accessible on the AdvisorEngine platform. However, it’s not all about facts and figures. As any good financial advisor knows, success in wealth management requires ‘intangibles’ such as good leadership. Below is my perspective on what good leadership means, and how to know if your leadership is translating to the rest of your team. I apply these to our data quality team, but these ideas are applicable across a wide variety of organizations and goals. I hope you find it thought-provoking.
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.
This year the SEC provided a steady stream of guidance illustrating which compliance and governance programs worked and which ones fell short. To help you plan for 2020, we have distilled the highlights in this Regulatory Year in Review. As you study enforcement cases, rule proposals and risk alerts, you’ll see there are trends for RIAs to consider in the year ahead.