During BNY Melon Pershing’s RIA Symposium in Chicago, Gabriel Garcia, managing director, Advisor Solutions for the firm presented some of the myths floating around the business, and whether they are true or not.
The implications for these myths, false or not, are that firms need to prepare in the good times, like now, for the bad times. They must execute a sales plan, bringing in more than 20 clients a year. They also need to invest in technology as investors today expect a digital experience. And they need to understand that while baby boomers still control the wealth, advisors can’t ignore the next generations, especially Gen Xers, who control $6 trillion in wealth.
Check out the gallery to see those “myths” and what Garcia found.
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