AQ Practice Management Articles Summary: Oct 8-12

Enjoy this week’s practice management articles. It is a great mix of articles on a variety of topics that will provide ideas and inspiration to help you build your optimal financial advisory firm.

Click on the article title to read the source article.


Financial Blog Post Test- Do You Pass?– Susan Weiner’s Investment Writing blog

Learn how to write blog posts that attract new clients and prospects.

The SEC Should Try Enforcing the Investment Advisors Act of 1940– Morningstar Advisor

Section 202(a)(11) of the ’40 Act defines a Registered Investment Adviser (and, by extension, its investment adviser representatives–collectively, RIAs) as any person or firm that (1) for compensation, (2) is engaged in the business of (3) providing advice to others or issuing reports or analyses regarding securities. An entity must meet all three of these conditions to be considered an “investment adviser.”

Which Exit Path is Right For You?– FP Transitions blog

This blog was originally posted on September 20th- I missed the original posting but noticed it this week. There are many exit options and a variety of ways to execute them. Your unique situation and goals determine which one is right for you.

Five Questions to Ask About Your Technology Infrastructure– Advisor Perspectives

Firms should conduct an analysis of the following core systems to see if any changes are needed: custodian interface, performance reporting/portfolio accounting, CRM, financial planning, trading and rebalancing, and client portal. As part of this review, you should answer these five questions.

New Challenges for Wealth Managers: Ramping Up Your Digital Quotient– ThinkAdvisor

To meet the high standards of today’s investors, it’s critical to think not just about optimizing technology tools, but about transforming the user experience through comprehensive, streamlined platforms that help drive collaboration. To make the shift, we believe firms need to embrace a digital mindset and increase what  McKinsey & Co. calls their “Digital Quotient.”

Two Proven Niche Strategies- Which Is Right for You?– Wealth Management

The niche concept is well-proven, but, as the authors point out, that execution of focusing on a niche varies widely. They share two strategies they have found effective.

The 10 Things Top Performing Advisors Do Better– Tony Vidler blog

The article provides a great list of the things a firm needs to be great at if it wants to become a successful, growing firm. Go through the list and make sure your firm is doing the ten things as well as the details provided.  This is one article you may want to refer back to from time-to-time to continually manage your firm.