8 Potential Risks in Your Financial Advisory Practice

Posted by Bette Skandalis

March 20, 2019 at 1:30 PM

Business risk is anything that threatens the continued success of your practice, and it can assume many forms. Unfortunately, many business owners overlook the potential risks that can derail a long-standing business. Why? Generally because they don’t understand the risk, don’t feel the risk is severe, or don’t believe it will happen. But what if it does?

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Topics: Practice Management, Risk Management

Scaling Back: 4 Steps for Transitioning Clients as You Near Retirement

Posted by Liam O'Shea

March 6, 2019 at 1:30 PM

For many advisors, the decision to retire is complicated, mainly because it involves transitioning clients, some of whom have become dear friends, to another advisor or sometimes even to another firm. It’s hard to let go of those relationships, and so you stay in the business past your traditional retirement age. But continuing to work comes with a unique set of challenges, including a declining level of energy and mental acuity as you age and dissatisfaction among your successors, who want to step into leadership roles.

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Topics: Practice Management

A Language of Retirement: Helping Clients Live Their Best Post-Career Life

Posted by Joni Youngwirth

March 5, 2019 at 10:00 AM

I’ve spoken with countless advisors about their retiring clients. What I’ve learned is that even when a client is secure financially, that doesn’t always equal happiness in retirement. As a society, we haven’t developed good strategies to help people adjust from the work-based life they led for decades to something else.

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Topics: Practice Management

In the Now: Leveraging Technology to Enhance the Client Experience

Posted by Angela Sarver

February 27, 2019 at 1:30 PM

If someone had told you years ago that a phone small enough to hold in your hand would have more power than the technology NASA used for the first moon landing, would you have believed them? It’s true—and it’s a testament to the dramatic technological advancements we’ve experienced in the past several decades. The changes have ranged from the minor (Rolodexes are no longer a thing!) to major improvements, including how we interact with clients and prospects. As new solutions emerge, advisors will need to place a greater emphasis on leveraging technology to enhance the client experience.

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Topics: Practice Management

Capturing Money in Motion: An Ever-Changing Opportunity for Growth

Posted by Kristine McManus

February 5, 2019 at 10:00 AM

In a recent blog post, I talked about the importance of consolidating your clients’ assets. I also discussed introductions and referrals and how essential they are in helping you gain new clients for your practice. Here, we’ll take a look at another strategy for business growth: capturing money in motion.

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Topics: Practice Management

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