Risky Business: How to Protect Your Firm From Wire Fraud
Someday soon an advisor will have to declare bankruptcy because he cannot cover the losses incurred in a fraudulent third-party wire transfer.
Client of the Future
Take note: Investors under 50 hold almost as much wealth as those over 50.
Do Incentives Really Motivate People?
I get a twisted kind of pleasure when good arguments cause me to reconsider my long-held beliefs. The recent book by Clayton Christensen, “How Will You Measure Your Life?” spurred such a transformation.
Toxic Words: The Importance of the Language You Use in Your Firm
Words are powerful. They can be used to encourage, inspire and enlighten—or to judge and destroy.
Fiduciary in Name Only? Applying the Fiduciary Standard to Your Business
When RIAs commit unethical acts against clients, they are FINOs—Fiduciaries In Name Only. Here's how to apply the fiduciary standard not only to how you serve clients, but how you run your business.
Clients With Benefits: How to Protect Against Would-Be Moochers
One of the downsides to running a personal service business is that friends and relatives often expect a discount.
The Human Capital Dilemma
Only 22% of the advisor population is under the age of 40, and with the average age of advisors in their 50s, the business is suffering from a growing cultural gap between advisors and clients, as well as a significant age gap between advisors and others in the business.
How to Compete in a Saturated Market
The lack of clarity in financial services business models and the profusion of practitioners using virtually the same branding has created a saturated market. How do the great companies succeed in this environment?
Are All Partners Equal?
You have heard the saying that the fastest way to ruin a friendship is to become partners. Unfortunately, many advisors in ensemble practices can relate to this adage.
We Get Along Without You Very Well: Employee Departures Can Build a Stronger Business
No one in your firm is indispensable: how planning for the inevitable departure of employees can build a stronger business.