Tag Archives: Wealth management

Maintaining Earnings Momentum in the Wealth Management Business (IIAC Blog)

Maintaining Earnings Momentum in the Wealth Management Business (IIAC Blog)

There is an undercurrent of change happening in the wealth management business, driven by stiff competition, fee compression, regulatory obligations, evolving investor needs and preferences, and applications of new technologies. Industry operating costs have escalated and margins have been squeezed. Further, there is no end in sight to rising costs.

How do wealth-focused investment dealers position themselves for a new phase of growth and profitability?

Read my latest Letter from the President.

 

 

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Op-Ed – Wealth management: It’s time to rethink practice and regulation (IIAC Blog)

Op-Ed – Wealth management: It’s time to rethink practice and regulation (IIAC Blog)

In an Op-Ed published in The Globe and Mail, Michael Williams, Chief Risk Officer at Richardson GMP Limited, and I argue that fixation on themes such as market movements, regulatory reform and technology has obscured, perhaps, the most important factor to build and sustain wealth—an experienced advisor—and, at the core of the client-advisor relationship, a strategic financial plan. While cost-effective regulation is key to guiding best interest and client-first conduct, regulators should also take steps to provide greater scope and flexibility to assist advisors meet the financial objectives of their clients.

You can read more here.

 

 

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Proposed client-focused reforms: How they could impact independent firms’ operations? (IIAC Blog)

Proposed client-focused reforms: How they could impact independent firms’ operations? (IIAC Blog)

I have written a column for Investment Executive that discusses how independent firms may restructure or retool their wealth-management operations to mitigate the negative impacts of the CSA’s proposed client-focused reforms. 

You can read the column here.

 

 

 

 

 

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Attracting Capital to the Wealth Management Business (IIAC Blog)

Attracting Capital to the Wealth Management Business (IIAC Blog)

My latest Letter from the President describes the opportunities and challenges for the retail investment industry. While we estimate about 30 retail boutiques lost money, on a net basis, in each of the last four years, it is important to stress that many small and mid-sized firms have been profitable.

Firms have made herculean efforts to control cost increases through staffing reductions, increased reliance on technology and out-sourcing, and adjustments to advisor compensation grids.

Firms have also focused efforts on improving advisor productivity through training and continuing education programs. They have boosted their competiveness by providing … Continue reading

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The Five Trends Shaping the Wealth Management Business (IIAC Blog)

The Five Trends Shaping the Wealth Management Business (IIAC Blog)

On April 7, 2016, I attended the SIFMA’s 38th Annual Private Client Conference in New York City. Senior wealth management professionals, representing firms of all sizes, from throughout the country, focused on the challenges and opportunities of 2016 and beyond. Speakers provided compelling stories and statistics.

In my April Letter from the President I write about the five trends shaping the wealth management business in the U.S. (and elsewhere)—a topic addressed at the conference. The five trends are:

1. Investors are increasingly valuing interactive, comprehensive relationships with their financial advisors, and planning. 2. Investors are seeking … Continue reading

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