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By now, most registered investment advisors are familiar with automated advice platforms, or robo-advisors. While these services have been a disruptive force, the machines haven’t “taken over” in the dystopian sense that some had originally feared. In fact, many RIAs have successfully leveraged new technology to grow and improve their practices.

In the same way that RIAs have used robo-advisory platforms as a complement to their core business of building relationships, artificial intelligence could provide similar benefits in the coming years.

What is artificial intelligence?

In the most basic sense of the term, artificial intelligence involves abdicating portions of human intelligence to a computer. This can take many forms, but in most cases the computer incorporates different data points to come up with algorithmic decisions—providing humans with better outcomes than they could otherwise produce on their own....

Making the most out of your CRM

The key to maximizing the benefits of a CRM system is nailing the rollout.

Customer relationship management systems, or CRMs, are a critical tool for independent financial advisors to keep track of their clients and prospects, monitor their sales pipeline, and perform many routine...

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Broaden your role by providing clients a securities-based line of credit

Successful financial advisors realize that building a thriving practice today requires more than just offering financial and investment guidance to clients. You may want clients to view you as their personal CFO: someone at the center of their wealth management team who is overseeing their...

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Discussing advisory fees with your clients

While financial advisors may believe they are well-covered when it comes to discussing fees with their clients, research suggests that there is a disconnect between this perception and reality.

According to a report by State Street Global Advisors and Knowledge@Wharton,1 most...

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Should you develop a new marketing niche?

When job hunting, sending resumes in a scattershot fashion is considered an ineffective strategy because it lacks focus. “Spray and pray” isn’t any more desirable for financial advisors. Taking a targeted, niche approach can be much more useful for landing high-value clients....

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