We’ve all had the experience of a bad meeting – one where you’re unable to connect in a meaningful way with your prospect.
Advisor Perspectives Article Archive
Article archive for Dan Solin's weekly Advisor Perspectives articles. All of these articles are also available on AdvisorPerspectives.com
As an advisor you counsel your clients to be aware of confirmation bias and to avoid the temptation to favor information that confirms pre-existing beliefs. Yet, many of you suffer from the same bias.
When I’m asked to review client communications, the first question I ask is: “What’s the goal?” I get one of two responses. Either there is none or the firm is trying to demonstrate its expertise.
Some advisors stand out. They aren’t always the smartest or the most charismatic, yet they are enormously successful, far more so than their peers. I have figured out why.
Several studies (summarized here) found that, for the largest advisory firms, the most profitable ones focused the most on AUM fees. Clearly, this fee structure is good for these firms.
The advisory business is changing rapidly. Your fees will be a subject of continuing scrutiny. Here are five reasons why the asset-based fee model won’t survive.