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.
Where There’s a Wall, There’s a Way
Many topics can create excited and hopeful conversations among financial advisors. Process improvement is not one of them.
Shedding Some Skin: Advisor Growth in the Year of the Snake
The most effective strategic planners focus on the four cornerstones of business success. Let’s examine the planning process to identify some potential improvements in 2013, which the Chinese Zodiac designates as the Year of the Snake.
X + Y = Greater Value
If I were buying a financial advisory firm, I would discount the firm’s value based on the number of clients and staff over the age of 55.
Women Are Not a Niche
At a recent Barron’s Top Independent Advisors conference, an audience member posed a question to me and my counterparts that seemed like a flashback to the 1970s and ‘80s.