1. Stop Trying To Hold Onto Your Clients
As your business grows you are forced to reconfigure the structure of your team. You don’t do that to be clever. You don’t do that to make everyone’s life more difficult. You do it because the new configuration will allow you to service your clients more effectively whilst scaling and growing and helping even more people. — Brett Davidson
2. How Advisors Can Add More Share of Wallet
It goes without saying that the vast majority of registered investment advisors (RIAs), particularly those operating under fee-based models, want to manage as much client capital as possible. It’s pure capitalism at work and there’s nothing wrong with that. The large a firm’s assets under management (AUM) tally is, the bigger its revenue base becomes and, at least in theory, the more its profitability is enhanced. — Todd Shriber
3. Why I Believe In Cryptocurrency with Anthony Scaramucci
Douglas Blake was joined by Anthony Scaramucci, the Founder and Managing Partner of SkyBridge, an SEC-registered investment adviser and global alternative investment manager that invests in hedge funds, digital assets, private equity, and real estate. Douglas and Anthony talked about the opportunities that exist in the growing crypto industry and why Anthony decided to become a proponent. — Wall & Main
4. How to Get Hard-to-Reach Clients to Return Your Call
Most advisors say that they have two different kinds of clients: those who require only an occasional check-in phone call and a review once a year and those who seem to call all the time. Neither type is ideal. Low-maintenance clients don’t return calls, and they resist coming in for annual reviews. High-maintenance clients want to talk about their investments and the markets every time something happens. — Ken Haman
5. 8 Tips for Leading a Team Remotely
There are loads of benefits to working remotely. For one, we can roll out of bed with time for a workout, wear trackpants on our lower half all day and cook up a storm in our home kitchens at lunchtime – all obvious perks! But leading remotely can bring its challenges. — Suzi McAlpine
6. “What Should I Tell Others About You?”
“How should I describe your work to others?” Have you ever had a client ask you, “What should I tell others about you?” And did you have a very simple answer for them; an answer that they would remember and effective enough to compel someone to want to meet you? This is a perfect example of where the phrase less is more might be applied. — Bill Cates
7. The Uncertain Road Ahead for Advice Businesses
One certain thing for advice businesses is that there is a huge amount of uncertainty. Practice owners have had a lot of “alone time” in the last couple of years quietly contemplating the road ahead and trying to figure out what do they have to do to prepare, or adapt. — Tony Vidler
8. Cash Management is More Important than Ever with Eric Lansky
Eric Lansky is the President of StoneCastle Cash Management, a company that connects institutional and retail investors to banks via innovative cash, deposit, and capital investment solutions. Doug and Eric talked about the current environment and why cash is becoming more relevant than ever for advisors. — Power Your Advice
9. Crypto’s Climbing … but Where Are We in the Cycle?
Crypto is the most volatile asset class in the world... But crypto prices don’t zig and zag randomly… they follow predictable cycles. They tend to go from euphoric highs to depressing lows, then back to euphoric highs again. Today, we’ll look at where we are in the cycle… to see where prices might head next. — Stephen McBride
10. Where Can You Meet Wealthy People Socially (at Low Cost)
A good starting point for getting wealthy people as clients is to become part of their world. They know that, so they are willing to spend money buying privacy. There are still some places where you can rub shoulders and get conversations started. — Bryce Sanders
11. Does the Debate Over a Recession Really Matter?
I think the probability of a recession happening in the next 12 to 18 months is much higher than at any point over the past 12 months. But whether I am right or wrong is irrelevant; the question is, does it really matter? — David B. Armstrong
