My friend Carl Richards recently posted this sketch; I think it captures something critical to the work of financial advisors, and central to the reasons we founded Blueleaf.
Feeling peaceful when thinking about money shouldn’t be rare.
Carl wrote:
…In my conversations about money, the most common desire people express is a simple desire for peace. We all just seem to want to get out from under the constant stress that so often comes whenever we talk or think about money.
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.…
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.…
After years of debate and public comment the DOL issued its final rule earlier this year. In fact, the discussion has dragged on so long that this article essentially started 5 years ago based on a 2011 post by Michael Kitces here. On April 10, 2017 all financial professionals will be obligated to provide advice that is in a client’s “best interests”.…
Back in the old days, getting (and then onboarding) clients from faraway places meant phone calls, emails, faxes argh. Not anymore. There are plenty of easy to use apps to make the process a breeze for you and for your clients. Blueleaf client ScholarFi, a husband and wife team, have the process to onboard new clients sorted out.…
Blueleaf has a team dedicated to customer success, creatively called the Customer Success team. As part of what we do, we look for customers that are crushing their business objectives [by using Blueleaf] so we can teach other advisors how to do it too.
Our Customer Success team talks with these advisors often to find out what they are doing that is working so well.…
So the phrase “Content is King” rings true for many industries looking to attract customers.
It’s the same with financial advisors.
Showcasing your knowledge and personality goes a long way to winning over prospective clients. But you could be playing the game all wrong.
Do people visit your website and then leave? Is it completely up to them to come back, learn more and then contact you to learn more about working with you?…
When I was an employee of a larger firm, this was my favorite time of year. Vendors who we worked with, or were vying for our business, would send overflowing baskets of holiday treats to show their gratitude.
Harry David pears, endless flavors of popcorn, Lindt chocolate truffles – the list of waist bulging items was almost endless.…
The following is part of Blueleaf’s The “Dear Advisor” Campaign, encouraging open collaboration and service innovation in the financial industry like never before.
Letters are submitted by members of the general public who, at all stages of life, have an honest message to share with you. Let’s redefine what “value to my client” means.
Adam Sigel lives in Brookline, MA with his wife and dog.…
Today’s guest post is by RIA in a Box. RIA in a Box is a leading provider of registration and compliance services to registered investment adviser firms. They’ve helped over 2,000 fellow entrepreneurs establish their own RIA firms and remain in constant compliance with regulatory guidelines by pairing our team of former regulators with cutting-edge compliance software.…
