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Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.
In fact, they may be the missing piece in your clients’ portfolios—and AssetMark is betting big on that future. Michael joined AssetMark in 2010 and has held a number of leadership positions, including Head of National Sales and Consulting, Chief Client Officer, and President (2021–Present).
While many firms have historically relied on commission-based compensation methods – reflecting a sales-driven approach – financial advice has evolved with technological advancements and a greater focus on financial planning, with the Assets Under Management (AUM) fee emerging as the primary compensation model.
We have a serious communication problem in the industry, and it can be really hard to get hold of clients,” he said, noting that with his technology, advisors can see their clients go to the app every day. Advisors can customize the application to convey pretty much any type of data or information clients or prospects might want.
The typical prospecting process involves multiple meetings, and a fairly common response for advisors to hear after giving their 'pitch' is that the client needs some extra time to think about it. This sales technique involves asking a "negative" question such as, "Joining with a financial planner can be a really scary jump to make, right?"
billion in assets under management for 630 client households. million to more than $10 million in 2025 alone) thanks in part by attracting clients who have engaged with his educational YouTube videos. James is the founder of Root Financial, an RIA based in Encinitas, California, that oversees $1.3
manages about $300 million in client assets. Jacob William Advisory has proactively recruited next-generation advisors as part of its business continuity plan. Dixon-James launched Resilient Wealth Management in 2020 and now manages about $250 million in advisory, brokerage and retirement plan assets.
Jennifer is the CEO of The Mather Group, an RIA based in Chicago, Illinois, that oversees $15 billion in combined assets under management and advisement for approximately 4,400 client households.
Reconnect with Your “Why” When business is moving fast, losing sight of purpose is easy. Ask: • Am I serving the types of clients I enjoy working with most? • Are you on track regarding revenue, AUM, new clients, and team development? Is your brand aligned with the clients you want to attract?
Kay Lynn is the President of Merit Financial Advisors, a hybrid advisory firm based in Alpharetta, Georgia, that oversees approximately $13 billion in assets under management for 26,000 client households. Read More.
This month's edition kicks off with the news that the retail brokerage platform Robinhood is acquiring RIA custodian TradePMR, which appears to be less about Robinhood wanting to compete with the likes of Schwab and Fidelity in the custodial space and more about keeping the assets of its wealthier customers "on-platform" by giving them referrals to (..)
Related: The WealthStack Podcast: The Future of Personalized Portfolio Management with Govinda Quish “Estate planning is one of the things that advisors [repeatedly] tell us that they found immediate value in [post-merger] because it is part of the turnkey [Mercer] offering and does not mean referring a client outside the firm,” said Orff.
A common structure at many advisory firms is for the owner to handle most of the sales and prospecting, while employee advisors focus on delivering planning and analysis for existing clients. One of the most effective ways to do that is by directing the advisor toward a specific niche.
And be certain to listen to the end, where David shares why advisors might consider doing a partial sale of their no-longer-as-profitable clients to give them lifestyle flexibility while monetizing at least part of their business (and then continue to serve the smaller group of remaining high-value clients with better profitability and fewer working (..)
April 14, 2025), a district court held on summary judgment that an insider didn’t have to disgorge his profits from the sale of stock received from a grantor retained annuity trust. The insider, who owns more than 10% of any one class of the company’s securities, must have made a purchase and a sale within a 6-month period.
So that’s when I really studied deeply the research why what I’d been doing was working more about when it might not and writing a businessplan for Bridgeway. That was like, I should have paid more attention to that question because my budget, my businessplan was 50% of our net worth before it was all said and done.
Yeah, Torsten Slok : So at Deutsche Bank I spent essentially all my time on going to clients with sales. You would’ve expected that when interest rates go up, car sales should go down. And the the number of homes for sale close to record lows. That’s not what has happened. That is not what has happened.
In this guest post, Chris Stanley, investment management attorney and Founding Principal of Beach Street Legal, discusses in depth the various stages of buying, selling, and merging an investment advisory and financial planningbusiness. Read More.
When it comes to focusing on a niche for financial advisors, business owner clients can be an appealing target as they can have complex financial planning problems ranging from cash flow management to tax planning to acquisition strategies.
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. letting a client go), it can help to have a ‘quitting coach’ to hold the individual accountable for their pre-commitment. And because actually following through on kill criteria can be challenging (e.g.,
This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)
Many employee advisors gravitate toward service-oriented roles; this preference often stems from their initial motivation for entering the profession – wanting to help clients or perform the more analytical aspects of investing and financial planning. Rarely do they enter the field to be in a sales or marketing role.
Cold calls, country club memberships, Chamber of Commerce networking, and referrals (from clients or centers of influence) were staples for growth, and determining how successful those sales-centric efforts were was rather straightforward.
The requirements to run a successful, growing advisory firm are often less about doing the technical work with clients and more about marketing value to get prospects in the door in the first place. Which means that advisors should not be expected to champion the planning industry alone when prospecting for clients.
Yet, while these advisors recognize the importance of business development to grow their firms, they are also very often intimidated by the process of adopting sales techniques to convert leads to clients. Core to the no-stress sales process is establishing trust equity with the prospect.
Historically, the career path for newer financial advisors has followed a commission-based model that was focused on sales and business development first and learning the technical aspects of financial planning along the way. Read More.
Historically, the career path for newer financial advisors has followed a commission-based model that was focused on sales and business development first and learning the technical aspects of financial planning along the way. Read More.
Jessica is the Founder and Principal for Turkey Hill Management, a mergers & acquisitions consulting firm that assists financial advisors with the sale, acquisition, integration, or merger of their firms. My guest on today's podcast is Jessica Polito.
Christa is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based in Chicago, Illinois, which manages $300M across more than 100 client households.
Gaetano is a partner and senior financial advisor at Fountainhead Advisors, an RIA based in Warren, New Jersey, that oversees approximately $900 million in assets under management for 1,000 client households.
As marketing and prospecting processes become increasingly digital for financial advisors, many prospective clients learn about advisors and what they offer not from an introductory call, webinar, or speaking event but from the advisor's website itself. As a starting point, a well-built Process page performs 4 critical functions.
All investment advisers are fiduciaries that owe a duty of care and loyalty to their clients, and, in an ideal world, advisory firms and their staff would abide by these requirements without the need for a prescriptive code of ethics. Read More.
This latter exemption means that financial advisors with an ownership interest in their company (even a very small one) could still be subject to a non-compete as a term of the sale of their stake (which could impact how they value receiving an ownership interest in their firm).
Liz is the co-owner of Pleasant Wealth, a hybrid advisory firm based in Canton, Ohio that oversees $146 million in assets under management for 522 client households.
Bridget is the President of WealthChoice, a virtual independent RIA that oversees nearly $80 million in assets under management for 68 client families, and Co-Founder of Equita Financial Network, an advisor platform that helps advisors plug in and share resources. My guest on today's podcast is Bridget Venus Grimes.
Traditional forms of marketing used by financial advisors – including networking with one’s friends and family members, cold-calling, and paid advertising – have been effective at reaching a ‘typical’ client base of older, wealthy retirees.
This month's edition kicks off with the news that held-away asset management platform Pontera has raised $60 million in venture capital funding as advisors increasingly seek to directly manage clients' 401(k) and other outside assets – although an ongoing investigation by Washington state regulators over whether advisors' use of Pontera violates (..)
Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including: Brand design consultancy firm Intention.ly
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. letting a client go), it can help to have a ‘quitting coach’ to hold the individual accountable for their pre-commitment. And because actually following through on kill criteria can be challenging (e.g.,
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: All-in-one software platform Blueleaf has launched a new “aggregation-as-a-service” solution, promising better client data aggregation capabilities than existing solutions by automating the process of weaving multiple (..)
Michelle is a Wealth Advisor for Financially Wise Divorce, a hybrid advisory firm based in Minneapolis, Minnesota, that oversees $87 million in assets under management for 91 client households.
For a firm owner who expects the sale to make their life simpler, the enormous project of transitioning can often be the opposite of what they expect. Second, once the merger is complete, firm owners often discover that the culture of the new firm clashes with their expectations.
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