At Investment Advisor, we like to think that we do a pretty good job covering practice management. By “we” I mean, for instance, Mark Tibergien, Angie Herbers, Bob Clark, Tom Giachetti, Olivia Mellan and Dan Skiles, all of whom contribute their experience, wisdom and insight each month. I also count our freelancers who report on practice management issues, and our regular contributors and research partners, such as Joni Youngwirth of Commonwealth and Dan Inveen and Eliza DePardo of FA Insight, and Guggenheim Investments (nee Rydex AdvisorBenchmarking) on AdvisorOne.com.
But over a year ago, in conversations with ActiFi’s Spenser Segal and Brian Stimpfl, we realized that despite all that wisdom, there was a rather basic practice management gap that hadn’t been addressed. We set out to remedy that by asking advisors what they needed and wanted in terms of practice management assistance. We also interviewed the individuals responsible for practice management programs at advisors’ partner firms.
We didn’t stop there, however. When you perform your due diligence on money managers, after you analyze the data and understand the investment process, you also want to know the people behind the process. During the interview process, we identified four individuals who could explore what the survey numbers revealed, and we invited them to an all-day, in-person roundtable in Chicago. The result of that conversation is the cover story this month.