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Nearly 40 percent of financial advisors plan to retire in the next 10 years, and overall advisor headcount growth is starting to decline. As a result, an opportunity could be at hand for younger advisors.
Firms big and small are struggling to attract and retain technology workers. The pay and career opportunities at other companies is luring them away.
The Practice Innovation Index leverages Cerulli’s research and data to rank firms and provide them a customized roadmap to help them grow.
Lumiant is designed to include more spouses and other family members who might be less involved in a household’s finances and overlooked by an advisor.
The Onyx Advisor Network is helping underrepresented advisors get the technology they need to run a wealth management firm.
The association wants to help private wealth mangers learn about alternative investments, allocate to the asset class, and convince some they should get CAIA certifications.
Many wealth managers don’t know how many prospects agree to become clients but then fall through the cracks, along with millions in assets and revenue.
To grow their business, RIAs would choose client “clones” over inheritors of client assets or investors with more or less wealth, a report shows.
Financial planners rate their communication skills much higher than clients do, endangering the trust between them.
The software companies aren’t necessarily to blame.