The Landscape is Changing

Leveraging technology to retain the value of your practice 

As you have undoubtedly witnessed over your career as a financial advisor, the landscape around you has changed dramatically. And, this change is only going to accelerate in the years to come…

The massive financial institutions that support your business used to be fully aligned with you and your business goals. Regrettably, those days are gone as these financial institutions are growing their retail advisory businesses and directly going after your best clients. What happened? In a word: technology. These behemoths, by leveraging technology, can now deliver both investment management and planning advice for under 30 basis points – and in some cases they actually claim to deliver these services for “free”. These technology-based businesses can outcompete you on price. Their scale and volume will drive them forward. If you naively believe your practice is not at risk or that somehow you are immune, you should stop here. Your business is extinct already – you just don’t recognize it yet.

This growing technological advantage erodes your ability to charge a fair price for what you do. While this onslaught may have started slowly, it is gaining momentum and is accelerating. These large institutional players attract billions and many financial advisors like yourself will be left to drown in their wake.

How can you preserve your client relationships and the value of your business in the face of this building competitive pressure?

You must mount an aggressive defense against these huge players by creating and delivering a level of client engagement that highlights and heightens the value your clients experience with you. You must Reinvent Your Practice™.

How do you Reinvent Your Practice™?

It’s not as complex as you might think - you simply beat your competitors at their own game.

By now, you have seen many of the component pieces of what you as a financial advisor do (investments, planning, etc) become commoditized through sophisticated technology. What was once your competitive advantage is now just table stakes. The best way - perhaps the only way - to differentiate yourself is to more fully engage with your clients and to reinstall yourself at the center of your clients’ lives. This means expanding the areas of their financial well-being that you can help them better understand. By holistically guiding your clients to better understand not just their investment portfolios, but more broadly their entire net worth, cash flow, estate planning, tax complexion and risk exposures, you become immune to the 800 pound technological gorillas whose computers can never replicate this aspect of your relationship. We call this holistic approach the provision of Wealth Management Oversight™ and we’ve developed patent-pending technology to execute it within your practice. And, we can show you how to make our Wealth Management Oversight™ technology a profit center rather than a cost to you. By integrating Wealth Management Oversight™ within your practice, you gain a competitive advantage over your institutional competitors by offering something they simply cannot. In fact, you use their massive size and success against them and beat them at their own game!

Schedule a call today to learn more about integrating our patent-pending Wealth Management Oversight™ technology into your practice.
(800) 301-7976