- A match in strengths – What do they specialize in (retirement plans, insurance, tax-efficiency)?
- A match in culture – Small, medium, large? Family atmosphere or thousands of reps?
- Upfront enticements – Transition loans and bonuses are important to some reps. Other reps would rather see them passed along in the forms of lower fees for software, E&O insurance, etc.
- Transitional support – What type, and how large, is the team they have in place?
- The back office – Do they have fast response times? Are they knowledgeable and professional? Do you always have to leave a message?
- Technology – Tech skills vary from rep to rep. Do you need cutting edge gadgetry, or will the basics do?
- Practice management support – You’re a financial advisor first, a small-business man second. Is there someone to go to with questions on running a day-to-day operation?
- Compliance – The perennial pain. Does the compliance department work with you to get ideas passed, or do they shut you down with no further explanation? Are they looking out for you and your business?
- Compensation – Do they pay accurately and on time (twice monthly, weekly direct deposits)?
- Product diversity – Do they offer high-end, sophisticated wealth management products? Is it open-architecture or all proprietary?
A Cerulli Associates study looked at fee and commission models and asked which pay structure investors preferred.
The deal comes just a few months after BlackRock bought a nearly 5% stake in Envestnet. But what does it say about Schwab's tech strategy?
Advisors will avoid multiple inputs with new technology that uses bi-directional data synced continuously through the system.
Sponsored by American Portfolios
Making sure customers are satisfied is no longer enough. Discover six ways to delight your clients, while solidifying your bond.
Sponsored by FTJ | FundChoice
You need a way to effectively manage client expectations, especially when the market makes erratic swings. Answers to three key questions will give you a great place to start.
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