Encourage sharing of information about your firm to help drive Word of Mouth. First in a series of actionable, tips on driving more referrals from Word of Mouth by Cynthia Stephens...Read More »
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When evaluating practice management areas, advisors tend to focus on each area as if it were a stand-alone component. Advisors also like to create their practice management list in order of importance or by the percentage of time they spend in each area...Read More »
Another reason to consider position only data is; when you are reporting on held away assets, sometimes getting access to the transactions is not an option. The website does not have them or, if they do, they are not at a level where they can be accurately interpreted. With this type of access it would be better to just pull in the positions and at least provide your client the ability to look at what is in their account on a day to day basis...Read More »
In Q2 2012, ByAllAccounts conducted a survey to find out the common traits of successful financial advisors. The survey provided interesting insights. What we found was that advisors spent most of their time with clients, not in the back-office - 81% said they spend the majority of their time on client management, communication and service; while only 18% said back-office operations and reporting. Among the other key findings were:-..Read More »
Before embarking on a road trip, you need to know a few important facts – not only your point of origin and your desired destination but also a detailed map of the route you want to take. Your prospects go on a similar journey on their way to finding financial services. Their point of origin is the realization that they need sound financial advice from a professional. Their destination is opening an account at your office and transferring their assets to you...Read More »
Fiduciary and asset allocation responsibilities have increased the need to report on non-managed accounts. Reconciliation is taking up more time with the need for reporting and monitoring these non-managed accounts...Read More »
It should come as no surprise that the next 10 years will bring significant and rapid change for financial advisors and their clients, many of whom are Baby Boomers. Longer life expectancies, savings for health expenses estimated to be as high as $250,000 per person during retirement, historically low interest rates and ongoing volatility, have converged to bring unprecedented challenges to this generation and their financial quarterbacks...Read More »
Word-of-mouth. It’s often called the most valuable form of advertising—with good reason. A word-of-mouth referral from a friend, colleague or industry expert can go a long ways, and provide all the impetus necessary to contact the person or firm being recommended...Read More »
With the recent news about JPMorgan Chase and its $6.2 billion loss in derivatives trading, there are renewed calls for increased government oversight and tightened regulations on today’s financial services firms...Read More »
Advisors understandably question what vendors mean when they advertise products as “Business Intelligence” tools. Search on-line for business intelligence and you get a process used by companies with a lot of buzzwords such as SQL, data analytics, and data mining for large volumes of data. Does the same process that large financial services organizations use apply to advisory firms? The answer is yes...Read More »
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