Many advisors throw around the claim “My clients aren’t tech savvy” as if they know what they’re talking about. If you find yourself saying this, know that you’re making an assumption. It’s not based on facts. Regardless of how confident you feel or how much you think you know your clients, this statement is not widely true.…
Is this viewpoint nuts?
Some time ago, I wrote about the Silent Advisor Killer – Cost of Acquiring Clients (CAC). In the discussion that followed, there were a number of advisors that disagreed with worrying about the relationship between CAC and the first year margin (FYM) earned from a client. An argument against the importance of the relationship between CAC and FYM went like this:
Bryan’s comment:
“I hope my competition views it this way.…
Introducing new technology to clients is a challenge.
Let’s face it, whether you are a technophile with all the latest gadgets or someone who has just started to hear about a new company called Instagram, most of us are not experts at consumer behavior with technology. So rolling out new systems for your clients may create a little apprehension.…
This interview was originally published on WealthTech Club
An Interview with John Prendergast, Blueleaf CEO
The wealth management world has changed, and it makes us queasy.
According to the KPMG report “Forging the Future,” the top source of disruption in the financial industry is emerging financial technology (FinTech). Historically, there has been a human layer between clients and their finances whether that was to access information or to execute transactions rather than customers having direct access via technology.…
