Managing
Look closer to get more from existing technology
- Details Category: Practice Management
I was speaking with an advisor this week that is evaluating client-reporting solutions. His team has requested a specific vendor based on a trial run they held, where they found the user interface and overall usability of the system appealing.
In the course of our discussion, we surveyed the current slate of technology products and services deployed at his firm. This practice has made some smart moves, having forged the core of their business processes around CRM and choosing a financial planning system that integrates with that CRM solution.
Building Client Loyalty
- Details Category: Practice Management
We’ve made it very easy for you to remind clients why they need you.
All the tasks you’ve completed for a client over the past 12 months are now conspicuosuly displayed on each client’s home page.
Reducing The Rate Of Client Failure
- Details Category: Practice Management
Why do some advisors annually get fired by 10% of their clients or more while other advisors consistently lose just 2% or 3%?
With the impact of the financial crisis hitting advisory firms and clients alike, the answer to this question is critical and may not be that complex.
Ways RIAs Can Reassure Clients
- Details Category: Practice Management
Five more advisory firm frauds made headlines in the past week. Meanwhile I received two hateful emails about my recent blog posts saying old ways of assuring clients of advisor integrity are no longer enough.
I’m sorry if I stepped on some toes or if you feel I was too harsh with my comments about NAPFA. But unless advisors communicate proactively, candidly, and in detail with clients right now about the trust issue, client assets could start moving away from advisors toward discount brokers.
I’m not predicting a huge stampede. But clients who have seen portfolios slashed
Making Sense (And Dollars) After The Plunge
- Details Category: Practice Management
“If you go to a doctor because your elbow hurts, the doctor isn’t going to treat you heart or hand,” says Craig Israelsen. “He’ll treat your elbow. That’s what advisors need to do with clients now.”
“It’s not like a client’s entire portfolio is hurt,” says Israelsen. “It’s just part of it.”
Israelsen, an associate professor at Brigham Young University and frequent contributor to Financial Planning Magazine, likens the market crash of 2008 to a client’s elbow that's taken a very unfunny blow to the
