Those yearning to learn the secret of successful wealth management teams can take heart in the words of the famous industrialist and financier, Cornelieus Vanderbilt. There is no secret about it, he said in response to a question about what was...
Coming off a sustained period in which new customers were painfully hard to come by, it would stand to reason that financial advisors would have learned a thing or two about expanding relationships with existing customers. But, according to my...
It's pure coincidence that an anagram of is but the connection still can be twisted into an important lesson regarding high-net-worth advising. Namely, those who get confused about the importance of teams are dead meat, professionally speaking...
Prosperity is not without many fears and distastes, said Sir Francis Bacon, and I couldn't agree more. When it comes to attracting and retaining affluent clients the sorts of clients that deliver an advisor the prosperity he's in business to...
The average production in the room was $1.5 million, the length of service 20 years, but the trepidation was the sort of thing you might feel at a freshman orientation. This was at a workshop called Skating to the Money Mastering High-Net-Worth...
A dvisors who aspire to building a high-net-worth practice can take some cues from the medical community. Back in January 2002, The New YorkTimes ran the following front-page headline: Doctor's New Practices Offer Service for Deluxe Fee. The...
There's an old saying in investment management consulting: If you want a clear picture of a manager, look at him during a bear market. Evaluating, selecting and monitoring managers requires sound judgment and significant due diligence; it is part...
The one-stop financial shop is still, after all this talk, the Promised Land. Management and even reps dream about cross selling, about grabbing more business from their current clients, about creating deeper relationships the truly kind in which...