Information, ideas, tips…the articles for professional advisers which I spotted this week that generate fresh thinking or a deeper understanding of issues are provided here as a quick readers digest for professionals who are looking ahead.
These are the highlights from the week that you should stop and read, as they are the best I’ve seen recently.
There is so much good information for professional services made available each week, much of which I share, that it is very easy to forget to pause and reflect. Each week I select the best handful and give them Tony’s BIG Ticks as being the ones that made me pause and reflect, or think further. They are sometimes thought-provoking, perhaps insightful, maybe a great sales or marketing idea or sometimes just incredibly topical.
Bob Veres discusses the importance of the terminology the industry uses: “The words we use to describe ourselves can give us a wind at our backs, or they can generate a wind in our faces. This especially applies to the financial planning sector, in part because the profession has yet to define itself in the public mind with crystal clarity.”
We all agree that advisers should work in the clients best interests – but do the clients you serve also serve your best interests?
The benefits of rebalancing are overstated, because of imperfect maths….ooops….
“The rise of digital investment advice and theDepartment of Labor’s new fiduciary rule are forcing universal price discovery and transparency on the wealth-management industry. This leads to a focus on the investor’s total cost of ownership — ultimately resulting in more industry consolidation…”
An interview with a manager who has taken an advisory firm from 4 staff to over 100 breaks down the 4 key components in getting it righty…