Fee compression is real .The key to holding on to clients in this competitive environment will continue to be your personal relationship with them. If there’s nothing special about that relationship, clients will shop around for the lowest fee.
There may be a way to select outperforming mutual funds based on past performance, but it’s not what you think.
The questions financial advisors find challenging fall into three categories: Fees, explaining their value and differentiation.
The tension between self-confidence and self-compassion highlights a more significant issue: self-awareness. The successful advisor is likely to be keenly aware of his or her personality traits and enthused about striving to improve them.
If economists were so terribly wrong in predicting the worst recession since the Great Depression, why should you pay attention to musings about what’s likely in store for investors next year or at any time in the future?
Most advisors consider attorneys and CPAs as primary COIs, and with good reason. The more affluent the client, the more likely they are to rely on attorneys and accountants as a source of referrals. But there’s a referral source they’re missing.