Displaying items by tag: advisor

Tuesday, 26 March 2024 18:15

Fintech is Reshaping Advisor Recruiting

Commonwealth Financial Network has forged a strategic alliance with Succession Link, a specialized fintech platform focusing on M&A and succession planning, to revolutionize practice management. Through the integration of Succession Link's bespoke solution, advisors can now seamlessly identify compatible continuity and succession partners. 

 

The imperative for advisor succession planning is underscored by Cerulli Associates, forecasting the retirement of 100,000 advisors overseeing $10 trillion in client assets within the next decade.

 

Commonwealth's consolidated platform not only streamlines access to practices for sale but also furnishes advisors with valuation tools, fostering succession planning activity. Succession Link's suite of features, including compatibility scoring and advanced messaging functionalities, aligns with the overarching goal of empowering financial professionals to navigate succession challenges adeptly.


Finsum: Technology tools will be changing the game in advisor recruiting as demographic shifts begin to hit the industry.

 

Published in Bonds: Total Market
Tuesday, 20 June 2023 03:52

Brand flakes

Unless you can score a gig on, oh, say, MSNBC, as did a certain Donnie, developing a brand as a financial advisor isn’t exactly as simple as snapping your fingers. In fact, it can seem like the motherlode, according to lpl.com.

After all, there are myriad things that need to be nailed down, like choosing a name and landing on a brand logo. Compounding matters, if initiatives like these aren’t quite in your wheelhouse, well, it can be all the more daunting.

To find your mojo, below are a handful of basic steps:

  1. Define your value proposition
  2. Pick your DBA name
  3. Develop a logo
  4. Develop a Website
  5. Execute with Consistency

Meantime, did someone say social media platforms? They can be leveraged by financial advisors to expand their business, according to mediaboom.com.

Advisors can share content that not only forges a community but can abet your ability to build trust with your audience. The trust of current and potential clients is gold to financial advisors, which is a good idea to foster considering you’re behind the wheel of the finances of others as well as their long term wealth.

Published in Eq: Financials
Friday, 05 May 2023 12:40

Opportunity code word: golden

Financial practices have an opportunity.

And it’s golden.

According to Tim Gerend, executive vice president and chief distribution officer at Northwestern Mutual, his firm’s annual Planning & Progress Study found that more than half of U.S. adults are anxious about their finances, reported thinkadvisor.com. This was part of remarks he made at the recent 2023 LIMRA Distribution Conference in Orlando.

On top of that, as for their financial future, they feel far from certain.

Fortunately, to help them prop up their security, Americans embrace the idea of seeking the help of financial advisors to help them formulate financial plans.

While that means the opportunity is ripe for the industry to build its impact and assist those who need it, Houston, we have a problem: the dearth of financial professional to handle the load.

That said, advisors should bear this in mind: If they’re not leveraging social media, you have company     according to blackrock.com.:

Forty four percent of financial advisors don’t indulge. Okay, so that might not prevent you from succeeding, ask yourself a question: how will  your growth remain on track given that among young investors, social media’s their “go to” when considering and choosing financial professionals among service providers.




Published in Eq: Financials
Saturday, 29 April 2023 03:36

Elbow room, guys, elbow room

Be a pal, huh, and give it a little elbow room. Fueled by institutions and financial advisors intent on seeking to tailor traditional indexes to meet the preferences of beneficiaries, direct indexing’s growing – and quickly – according to al-cio.com.

While direct indexing isn’t exactly new to the rodeo, its use has been spurred by current day computing power, according to a report by Jason Kephart, Morningstar’s director of multi-asset ratings, and his team.

Now, keep in mind, it’s not only your clients with the greatest wealth and complex investment portfolios who should be riding the direct indexing bandwagon, according to Randy Bullard, global head of wealth at Charles River Development, reported investmentnews.com.

“I think every financial advisor should be accessing direct indexing for their taxable client accounts,” Bullard said at the recent ETF Exchange conference in Miami.

“A direct indexing solution is uniquely designed to catch money in transition, and it’s suitable for all types of investors,” he said. “That’s the transition the industry is starting to go through. Once you conquer the operational complexities of direct indexing, it becomes a broad market solution.”

Published in Eq: Financials

In real estate, you might have heard, it’s location…location….and well, yeah.

Now, in financial services, the client calls the shots: their needs, wants. location, where they’re headed and who they can refer on their way there rule, according to usnews.com. Financial advisors have to know their stuff – and more – in the art of generating new clients and engaging those who are already onboard.

One component of an adviser’s role is boosting the knowledge of clients when it comes to gaining a sense of what it takes to meet their goals, according to business owner Vanessa Bester, reported thinkadvisor.com.

How, you might ask? By lending a hand with debt financing or wealth management. Guidance and financial management services like investment management, budgeting and insurance all are in a financial advisor’s wheelhouse.

A financial advisor should pinpoint their niche by homing in on what they do well, their skill set and knowledge. They’ll rise above the competition with a niche. And darn their your expertise might  resonate – and loudly -- among prospective clients.

Published in Eq: Financials
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