Investment and insurance products are now commodities. If we try to compete on cost we will lose because there will always be a cheaper alternative. However, we can compete on another level that an online site or brokerage cannot – we can compete with personalized advice.
You are busy enough comforting clients through volatile markets; the last thing you need on your mind is a lawsuit. But this type of market causes client complaints to jump. How can you protect yourself?
Adam Butler, Michael Philbrick and their team have joined Macquarie Private Wealth’s Toronto office.
To increase client assets and boost business, a growing number of advisors are opting for business structures similar to those used by accountants and lawyers: partnerships.
When coaching advisors, one of the most important things our team works on is how to get the advisor focused on the important client-facing tasks and delegate the rest to their team.
While busy discretionary clients may only want face-to-face meetings once a year, Franz calls clients at least quarterly to update them on portfolio performance, and other times to simply ask how a vacation went.
Adena Franz's phones were silent on June 2. "Sino-Forest blew up, and we didn't get one call," recalls the Montreal-based advisor. And despite having the beleaguered stock in her clients' portfolios, they won't hear about the hit until their annual reviews.
You’re an entrepreneur who has worked for decades to build your business. Then someone comes along and offers you $30 million for it. After the last champagne bottle is drained, the new Bentley is in the garage and you’re back from the Bora Bora vacation, you start to realize there’s a big difference between running a company worth $30 million and managing $30 million in disposable cash. Taking care of that wealth is a business in itself.
Showing clients that you continue to expand and enhance your knowledge is always a good thing. Your continuing education allows clients to know you are keeping current within the industry.
Listen and learn. At Advisor Group’s 2011 Distributors' Summit, Tricia Benn, Senior Director, Rogers Connect Market Research and Client Services, Rogers Publishing Ltd., discussed how distributors can better help the advisors they work with bring in more revenue and what sorts of synergies are brokers and advisors looking for from the distributors who bring them product.