Shockingly, you might be able to generate more alpha for your clients by helping manage their career than you can from investing or financial planning. Today's guest, Michael Haubrich, CFP®, created the concept of "career asset management" as a way to help add additional value to his clients using an asset that is typically neglected
How would you answer these three questions about exploring advice? What is the definition of good advice? What is the definition of a quality financial plan? What does it mean to be a fiduciary? Kevin Knull: To this day, there is no benchmark or road map or list of requirements to deliver a quality
Should RIAs offer an automated investing Robo-Advisor service? What are the pros and cons? How should you price the service? Will it cannibalize your existing clients? Tina Powell: I was not prepared for the amount of leads that were coming in and the amount of detail that one can glean from those leads.
It appears clients care much less about their financial advisor's digital technology than advisors do. The financial services industry spends a lot of time talking about technology and there are thousands of companies around the world and tens of billions of dollars being invested in financial technology or FinTech companies to enhance the digital offering.
I believe financial advisors can add the most value to their clients in the areas of financial and life planning, and not as much in the investment management area. I also understand that you can't forget about the investment side. In today's conversation, we discuss how to improve your investment performance by overcoming some of
What does the future of FinTech look like? It was on display recently in Park City, UT at the 3rd Annual Orion Fuse Event sponsored by Orion. Fuse is a three-day coding event that brings together dozens of programmers from FinTech companies around the world who band as a community and solve advisor problems. It’s
Andrew Scott: The thing that really leads to people being happy and content with life is your intangible assets. The nature of financial planning advice will change dramatically as it becomes common for people to live to 100. The idea of a three-stage life where we go to school for 20 years, work
What if you cut your AUM advisor fee in half and made up the difference by charging a retainer fee? That's what multi-billion dollar RIA firm Abacus Wealth Partners is experimenting with. With the DOL rule and increasing pressure on firms to be more transparent with their pricing, we're starting to see firms experiment with
Scott MacKillop: It didn't seem fair or logical that larger accounts would pay more than smaller accounts. It doesn’t cost twice as much to manage a $1 million portfolio as it does a $500,000 portfolio so why do clients have to pay twice as much? That question is getting asked more frequently and
Each morning, I find a quote that speaks to me and then I post it on my prioritized action list for the day. Here are 10 quotes that recently made my list along with what they mean to me. Listen as I Discuss 10 Quotes That Speak to Me 10 Quotes 1. "If