Robo-advisors are to financial planning as Uber was to taxi services: disruptive. According to a report by MyPrivateBanking, assets being managed by all registered investment advisors now total around $5 trillion, with robo-advisors managing roughly $14 billion of those assets. If not already a cause for concern, this amount is set to increase over the next few years. Continue reading “6 Ways Financial Advisors Can Compete with Robo-Advisors”
Nothing is more disheartening than spending the time preparing for a meeting with a prospective client, only to have them walk away without closing. Not only is that prospect gone, but so is the time you could have spent courting someone else.
Continue reading “5 Ways Financial Advisors Can Convert Prospects into Clients”
In the age of the internet, transparency rules. Instead of taking financial advisors on their word, customers are going online to check credentials, performance, reviews and more. In order to be successful, advisors need to make sure they stand out from the crowd. Continue reading “7 Things Financial Advisors Need to Know [Infographic]”
With the addition of robo-advisors and nearly 300,000 advisors crowding the financial sector, differentiation is the key to growing your business (Source: Cerulli Associates). Determining a niche and becoming an expert within it will require hard work and data-driven marketing tactics to successfully build your reputation.
In fact, only 30% of American workers are currently working with a financial advisor, which leaves plenty of room for specialized advisors to grow their market share. Continue reading to learn more about areas of potential growth for financial advisors today. Continue reading “What’s Your Niche? The Top 5 Niches for Financial Advisors”
Due to the legal issues with compliance, many advisors choose to avoid the headache and stay away from digital marketing. This is a wasted opportunity. There are ample marketing solutions that can help you increase your online presence while staying FINRA compliant. So whether you’re just starting out or trying to grow your business, there are a host of marketing tactics financial professionals can employ to increase their market share.
Read on for the top 6 marketing solutions for financial advisors!
Continue reading “6 Marketing Solutions for Financial Advisors”
Did you know that the average financial advisor in the United States is older than 50 years old? Or that only 5 percent of advisors are younger than 30? (Source: Accenture)
In fact, research group Cerulli Associates has found that the number of financial advisors in the U.S. has fallen every year since 2010. Advising firms have been plagued by a decreasing workforce, which will only get worse, as Cerulli claims that approximately 100,000 more advisors will retire over the next decade. Corroborating this claim is Richard Stein, a partner at Caldwell Partners, who has calculated that 50% of today’s advisors will retire within the next 15 years.
If not addressed head on, a talent shortage will have far-reaching consequences. As more advisors retire, there will be fewer people to take over leadership positions which endangers not only their practice, but the wellbeing of their clients as well.
Continue reading “Finance’s Recruiting Problem: How to recruit – and keep – the best financial advisors”
Financial advisors always need to be on their A-game. Consequently, the financial sector faces high turnover as reps burnout from stress, exhaustion or no feeling of accomplishment.
So, how can managers help a new financial advisor succeed?
Continue reading “Top 10 Tips for the New Financial Advisor”