In recent years many of the foundational tactics used by advisors to build and maintain client relationships have changed. In today’s world, annual reviews with infrequent phone check-ins are not enough to win and retain clients. Advisors are beginning to notice this change and starting to follow suit by adapting their communication style to modern preferences.
If you’re not already working with Millennials, born 1980-2000, you should plan on working with them in the near future. Millennials are set to inherit over 30+ trillion in wealth from the Baby Boomers in coming years. Now is the time to develop a strategy to attract and retain Gen Y clients. But before developing your strategy, it helps to know as much as possible about this emerging group of young professionals! Checkout ten things you should know about Millennials.
Nowadays more and more advisors are going virtual. Curious if virtual advising is right for you? Already know you want to go virtual but not sure where to start? Our step-by-step guide helps you decide if virtual advising is right for you and covers all the steps you need to take to become a virtual advisor.
If you’re new to the RIA biz, you’ve probably got a lot on your plate. From compliance issues to building your client base, there’s a lot to consider. Another important piece of the puzzle is the role technology will play at your firm. Technology will be a necessity for some of the functions of your firm, and a nicety for others. We’ve created this technology guide to help you decide which tech is right for your firm.
Cold-calling is an effective strategy for new advisors just starting to build their client base, or any advisor looking to grow their existing book of business. While cold-calling alone might help you convert a few prospects into clients, there are extra steps you can take to maximize its effectiveness. Check out our top cold-calling tips below to take your cold-calling strategy to the next level.
In a recent survey of over 800 advisors, researchers found that 81% of advisors are using social media for business. This figure has steadily increased year over year. Nowadays, about 56% of advisors claim that social media plays a significant role in their marketing efforts. Want to learn how to use social media to turn prospects into clients? Check out our social media crash course for advisors!
In the wake of the DOL's announcement of the new fiduciary rule, many advisors were left asking--how is it going to effect me? If you want to learn more about the new rule, check out 10 things you didn't know about the DOL's new rule here.
As a NextGen advisor, you'll cater to Millennial-age clients who have unique expectations for their financial advisors, as well as unique financial concerns. Technology can play a key role in working with these types of clients. Check out our top five technology solutions for NextGen advisors.
Most advisors are aware there are many powerful advisor-focused technology solutions on the market. Some advisors are already leveraging technology, or if they aren’t, know they should be. But you shouldn’t be jumping on the tech bandwagon just because everyone else is! First, it’s important to understand how technology sets you apart from other advisors. Technology increases your efficiency, creates opportunities, and enhances the service you provide your clients. Read on to see all the ways great technology can make you a better advisor.
Technology is becoming increasingly important to advisors. A study conducted by Fidelity found that 77% of high-performing advisors believe technology is a key component of their firm’s success. For those already using technology and those looking to implement technology, learning how to maximize the benefit of that technology is crucial. This guide will teach you how to make the most of your firm’s technology.
Between meeting with new clients and managing your current client's accounts, a busy advisor's day may leave little time for blogging. However, blogging should be a key component of you firm's overall marketing strategy. While 20 years ago blogs didn't exist, today there are over 20 million of them. And 80% of businesses are using blogs to attract potential clients. This post will show you the best free tech tools to make blogging easier than ever before!
Millennials now surpass Baby Boomers as the largest generation alive. This means it’s more important than ever before for advisors to develop strategies to connect with Gen Y. Any RIA which aims to be sustainable in the long-term needs a strategy to appeal to Millennials, who have unique financial needs and preferences. This guide will cover everything you need to know about NextGen clients and how to attract and retain them.
Technology is becoming a key component to any successful RIA firm. Using technology can streamline your operations work, enhance your client experience, and ultimately help you sign more prospects. But there are over 100 advisor-focused technology solutions on the market! Considering which technologies to invest in can be a daunting task.
Nowadays, lots of advisors are blogging. This is because a blog can drive more traffic to your advisor website, and increase your credibility in the industry. The only caveat is that blogging isn’t easy! We could all use some tips and tricks on how to blog successfully. That’s why we’ve picked out five awesome financial advisor blog examples to get your creative juices flowing and give you a few blogging tips.
Nowadays, advisors are busier than ever. From managing your current client's accounts, to meeting with prospects, to creating an online brand, it seems like there's never enough time in the day to get everything done! Well, by using some (or all) of our time-saving hacks, you can increase productivity and conquer everything on your daily to-do list.
In celebration of #FollowFriday, we’ve featured ten of our favorite tweeters (who also happen to be rockstar CFPs). All of these CFPs are consistently tweeting great, engaging content which can help you grow your practice. Check out our top ten picks here.
With the DOL’s new fiduciary ruling, now is a better time than ever before to take the plunge and become an RIA. But breaking away from a big brokerage firm isn’t easy. And for some, being a breakaway broker might not be the right fit. That’s why we here at Bridge have compiled some of best articles to read if you’re considering breaking away.
In recent years, the financial industry has changed. Consumers are more skeptical than ever before, and prefer a pay-for-advice model, rather than a transaction-based model. The Department of Labor’s new fiduciary rule is a push in that direction, urging financial professionals to adopt more popular and consumer-friendly practices and pricing models...
Last week Bridge featured Kate Holmes, a NextGen advisor who runs her RIA completely virtually. This week, we're highlighting a few tech solutions that can help any advisor transition into the virtual meeting realm. Whether you’re looking for a free software download, or are interested in investing in a premium solution, we have the scoop on the industry leaders in virtual meeting.
This week I had the opportunity to speak with NextGen advisor Kate Holmes, who runs her business completely virtually, utilizing programs like Skype and Facetime to quickly and easily meet with clients from anywhere. Kate gave me the full scoop on how virtual meetings have allowed her to grow her business, and even shared some tips on how to begin incorporating virtual meetings into an existing practice. Check out our interview!
Lorin brings over 30 years experience building computer and information systems to Bridge. His current project includes developing the billing portion of Atlas-X, a soon-to-be released end-to-end financial solution for advisors. Besides being a naturally talented coder, Lorin is also a talented musician and has an interest in art. This week, I had the opportunity to sit down with Lorin and discuss his work on Atlas-X's billing application.
This week Bridge wants to highlight Chuck Donalies, a NextGen advisor who founded Donalies Financial Planning, LLC in 2012 in order to provide financial planning solutions to busy professionals and families with young children. Chuck is revolutionizing the ways financial professionals approach financial planning for Gen X/Y, and we're excited we had the opportunity to speak with him about his perspective on working with Gen X/Y. Read the exclusive interview here.
Nowadays, it seems like everyone is blogging--from doctors, to lawyers, to designers, to chefs and even financial advisors! A blog gives you the opportunity to showcase your financial expertise, drive web traffic to your website, and attract new potential clients. However, it takes a great deal of thought, planning, and time commitment to create a truly effective blog. This is why we here at Bridge have created these six tips to keep in mind while blogging.
Current research estimates that independent RIAs and dually registered firms manage 23% of assets, an impressive market share for independently based firms. In fact, this number is expected to rise to almost 28% by 2018.
Kosti Marko came to Bridge with years of design experience and has been working tirelessly over the last few months to create a beautiful, streamlined, and functional design for Bridge’s soon-to-be released end-to-end financial advisor SaaS platform, Atlas-X. Kosti is a Graduate of the School of Design at The university of Illinois at Chicago and has strong interests in data visualization and linguistics. This week, I had the opportunity to sit down with Kosti and discuss the design process behind Atlas-X.
While creating an RIA can be a lucrative and rewarding career move, it’s no small undertaking. Navigating the ins-and-outs of what it takes to operate an RIA can be difficult and confusing. Luckily, there are a slew of resources available to aid financial professionals interested in creating an RIA.