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In my career working with advisors, I’ve often discussed the importance of incorporating time-saving technology and selecting the right custodian. In the hunt for increased productivity, however, it can be easy to overlook the human element. For many reasons, attracting and retaining top talent to serve clients and manage operations is critical to the success of your business.

Challenge your team

Try to provide your team with more meaningful responsibilities. If your back-office and client-service teams are little more than paper pushers, chances are your staff doesn’t feel very challenged. They may be performing administrative tasks that are necessary, but others that could easily be automated and don’t add much value.

The key to attracting and retaining top talent is allowing your staff to do meaningful work. This means aligning employees with their skill sets and interests. It also means challenging them with activities that...

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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