The longer the bear market continues, the more likely your clients will be to abandon their financial plans, sell their growth assets, and potentially impair their financial futures.
The preeminent conflict of the commission-based model is that it forces you to put the pursuit of new clients ahead of serving your existing ones.
Some advisors are happy with the status quo, while others dislike the challenge of finding new clients.
If you’re not paying close attention to ensure that your clients’ cash is safe, you’re ignoring your fiduciary duty.
As an advisor's client base grows, more of their time is spent servicing existing clients, which leaves little time for finding new ones.
The primary reason RIA principals continue to run their own shops, rather than cashing out or offloading day-to-day responsibilities, has to do with fear.
The best-managed RIAs closely monitor growth by measuring net new assets and revenues, both from the addition of new clients as well as existing clients adding to their investment portfolios.
Here are three areas that wealth management firms should be monitoring to avoid taking the kind of reputational hit the airline just suffered.
Falling markets are cutting firms' revenue tied to AUM at the same time rising interest rates are making it more expensive for buyers to finance deals.
Even if you have no plans to sell, taking these steps will mean you're running a better business.
