Younger heirs may “be more dubious about forming traditional client-advisor relationships, having grown up with different expectations about financial guidance”.
With targeted "comfort calls" and strategically automated follow-ups, advisors who leverage their CRM systems effectively can show up when clients need them most.
Key ingredients to get the most out of staff meetings away from the office.
The wealth management business has fallen in line with President Trump's anti-DEI stance, and it’s appalling.
As painful as prospecting can be for the majority of advisors, it's an unavoidable factor in any firm's organic growth equation.
Rather than cold calling for new clients, advisors should explore opportunities to oversee a bigger chunk of their existing clients' wealth and income planning.
Rather than a quick exit, advisor-owners who plan mergers, acquisitions, or the sale of their practice in advance – and stay to steady the ship for years after – can expect the most upside for all parties.
Advisors working at the highest wealth levels do three things differently to show their value and stand out.
Advisors who think investment services and basic financial planning will let them thrive for another 10 years are in for a rude awakening.
When turbulence and market shocks shake clients' confidence, advisors can offer much-needed perspective and strengthen their relationships.
Advisors leaning heavily toward fee-based services today enjoy a key competitive edge over commission-based practices – and it all hinges on preserving client loyalty.
Recent natural disasters show the importance of being ready financially for worst-case scenarios.
Financial services companies are the latest to be caught up in Republicans' war on DEI.
The industry watchdog's own reports reflect failures to deter "willful" and "repeat" violations, raising a crucial question about the future of regulation.
UBS is looking to boost the firm’s bottom line even as some financial advisors search for greener pastures.
Offering subscription-based services can bring in additional revenue, but advisors must also keep state and federal regulators' compliance expectations in mind.
Advisors who compete with below market rates for their services might not be doing themselves any favors.
From seeing past credit ratings to selecting the right vehicle and educating clients, advisors who strategically use high-yield fixed income can build credibility and confidence.
Wealth firms that can demonstrate growth outside the rising tide of markets can command a premium price.
Going beyond succession, retiring advisors should prioritize building a safety net to protect their practice, staff, and clients against unforeseen circumstances.
