The Change They Deserve.

The change they deserve

An open letter to IMOs, BGAs, Insurance Companies, RIA TAMPs, IBDs and Asset Managers:

You are an important source of business development for most financial advisors.

They are in desperate need of your partnership.

The latest benchmark studies show AUM plateauing and many firms are reporting declines (11 of the 25 largest showed declines). When you look at the flows into annuities and insurance products over the last couple of years you see malaise. Numbers of advisors are leaving the business and a shortage of advisors is being forecast just as Millenials and younger generations need for advice is the greatest.

Where advisors in the past depended on referrals, research shows referrals are contributing less to business growth and some believe fundamental demographic change may diminish the importance even further. By contrast, business development practices (digital marketing and social engineering, for example) are contributing twice as much as referrals for growing advisors. The problem is that less than 1/3 of advisors have a systematic program for sustainable organic growth and struggle to implement a digital client experience.

This is the status quo.

You are in a unique position to differentiate your firm, improve your relationship with top advisors and deliver a powerful client experience.

How will you reframe the conversation to insert your firm in to the initial consideration set as advisors shop for products and services?

We can help.