AQ Practice Management Articles Summary: Nov 19-23

Hope everyone had a wonderful Thanksgiving.  We all have much to be thankful for. Even though it was a short work week, there were still a number of great articles on a variety of topics. Hopefully they will provide ideas and inspiration to build your financial advisory firm. Part of the fun is the journey toward success. What can you do this week to make your firm better? Enjoy your week.

Click on the article title to read the source article. Photo courtesy of Pixabay.

Wakeup Call: Why HNW Clients are Unhappy– AdvisorPerspectives

Two recent research studies upended the conventional wisdom about why advisors lose clients – one an internal study by a large investment firm, the second a research report from the consulting firm Accenture. This research study identified performance and changes in circumstances (client passes away) as reasons for defection – things primarily  out of your control. However, the studies also pointed out three other reasons that clients leave. These areas are in your control.

The Best Practices of Fast Growing Advisory Firms– AdvisorPerspectives

Schwab Advisory Services is interviewed and shares some of the results of their advisor study.  The factors that drive the fastest growing advisory firms is discussed.

Building Trust in a ‘Fake News’ Era– Financial Planning

Trust can be hard to come by these days, for a variety reasons. One key factor is the massive shift in how we consume information. Learn how you can more effectively say what you want to say in a way that builds trust from the beginning.

Can I Afford to Take Out a Loan to Acquire Another Practice– Think Advisor

The title pretty much tells what you will learn from the article.

Nurturing Digital Leads 101 for Financial Advisors– Wealth Management

Almost all of your website visitors are not ready to do business with you.
But that doesn’t mean they won’t in the future, with a strong lead capturing and lead nurturing strategy.

Fact: Your Tech Stack Will Never Be Finished!– iris

A great article and reminder that technology continues to advance at a rapid pace.  For those of you who have been in the industry for awhile, just think about how much technology in the industry and in your daily lives has changed.  Think about what your firm can do to look ahead and how technology can better serve your clients and make your firm more efficient and effective. Great list of suggestions as you analyze your technology.

Looking for More Revenue from Sophisticated Clients in 2019? Ungate Your Content– FPA Practice Management blog

What does ‘ungate’ your content mean? According to the author, it means getting your marketing content out from behind your contact forms and share it freely with your prospects and centers of influence.  Learn how you can do this by developing a marketing touchpoint mix.

The 4 Keys to a Successful Business Exit– Tony Vidler blog

There are four general areas that an adviser has to be able to deliver to a buyer if their business is ever going to be worth more than just the discounted future cash-flow of the contractual rights to an income stream. Learn the four areas you have to get right to maximize your firm’s value.


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