Succession plans that stretch into the distant future may not bring much clarity. In fact, they may work against you, killing your willingness and ability to act. Here is some advice on how to overcome the paralysis of succession anxiety disorder.
Understanding how the industry has been impacted by COVID-19 and the accompanying dramatic shifts in behavior, politics and society that we have seen in its wake is crucial as we continue to build our plans for 2021. Toward this effort, we invite you to explore the results of our most recent Pulse of the Industry survey.
The fundamentals of good communication do not change simply because there is a camera involved. The limitations of virtual communications make it even more important that we present ourselves and our insights with an additional level of thoughtfulness and care.
Since people have continued to be productive online during the pandemic, there is a strong temptation to conclude that we don’t need in-person interactions anymore. But when things go back to normal, we can’t forget that in-person meetings have always been fundamental to our client relationships.
Referrals remain the primary source of growth for advisory firms. Not only are referrals a fantastic source of growth opportunity, but they also get you better clients. I would like to spend some time on referrals—how they originate and what we can do to make sure we capture their full potential.
There are many talented people from underrepresented groups who could be contributing to the future of leadership in the advisory industry. G2 scholarships help eliminate the financial barriers to program participation by providing full tuition and accommodation.
Financial advisors are exceptionally talented at reaching out to clients and asking them how they feel. Unfortunately, we often forget to do the same with our teams. We did a quick survey of advisory firms and found that virtually every single firm had reached out to its clients with multiple letters and phone calls during the pandemic. But almost no CEO penned a letter to employees.
We believe that there is a lot of power in learning from each other, and so we reached out to current and former participants of the G2 Leadership Institute to crowdsource their best practices for managing a crisis.
The InvestmentNews Annual Adviser Benchmarking Study is the longest running industry study and has shaped much of the language and standards we use in the industry today. You need to participate this year more than ever before because we’re in a benchmark period that will be remembered.