You can build the best portfolio for your clients, but if they don’t stay invested, their chances of reaching their goals will be diminished.
The problem isn’t that market timing never works. The problem is that it works just enough to give you hope, but not enough to improve performance over the long-term.
I’ve worked at firms that offer outsourced portfolio management services – so-called turn-key-asset-management providers (TAMPs) – for almost 30 years. I know the industry very well and have seen my share of disasters. Here’s what to watch out for when selecting a TAMP.
Ever since the growth of robo advisors began to accelerate nearly a decade ago, the dominant trend facing advisors has been the commoditization of investment advice. With the proliferation of high-quality, low-cost investment solutions, advisors have increasingly outsourced their investing, freeing up valuable resources to help clients in other ways. But that doesn’t mean that all outsourced solutions are created equal or that advisors cannot add value through the investment choices that are made on behalf of their clients. Here’s what advisors need to know when choosing an outsourcing solution.
The services that advisors provide may not change much in the coming years, but you have lots of choices to make about which services to deliver and how to deliver them. Your choices will significantly impact your future success.
What keeps your wheels spinning, generating new ideas and creating new solutions? What drives you forward? What is your “why?”
As we age, our physical and mental skills slowly diminish. But there is one vital skill that will improve if you take the necessary steps: writing persuasively.
In a world where everything that can be automated is automated, you need to develop additional services that are highly dependent on personal interaction with your clients. You also need to create a more personalized experience for your clients and establish an emotional connection with them. Here are five ideas to build your humanness.
Keeping portfolio construction simple improves performance no matter what type of investment process you use. Our industry is in love with complexity, but complexity is costly to clients.