- RIA in a Box Compliance Software Review and Pricing
Managing your firm’s compliance requirements can be time-consuming, and if you’re ready to simplify, a software solution could be the answer. RIA in a Box is a popular compliance platform for busy advisors who want to free up more hours in their day to serve existing clients and attract new ones. What does RIA in… read more…
- Smartria Compliance Software Review and Pricing
Compliance is a critical aspect of running a thriving practice, and its often time-consuming nature may push other areas of focus into the background. If you’d like to spend more of your day prospecting and serving clients, and less time worrying about compliance, software may be the answer. Smart RIA offers compliance solutions for advisors… read more…
- How to Build a Quarterly Newsletter as a Financial Advisor
Email marketing is an effective way to build engagement with clients while keeping them updated on the latest trends and happenings within your firm. One of the keys to success with email campaigns is choosing the right frequency to share your messages. A mix of short weekly emails and longer quarterly newsletters can strike the… read more…
- 7 Billing Software Options for Financial Advisors
A well-rounded tech stack keeps your firm running smoothly and helps you maintain a competitive edge. Your choice of billing software is essential, not only for managing the books, but also for ensuring that your clients receive accurate, error-free statements. Knowing how to compare financial advisor billing software can help you choose the right option… read more…
- How to Manage Your Firm’s Bookkeeping as a Financial Advisor
As a busy advisor, you have a lot on your plate. Between client meetings and fine-tuning your marketing strategy, it can be challenging to find time for back-office tasks. There’s no downplaying the importance of accurate bookkeeping for financial advisors. Balanced books help promote a healthy bottom line. Here’s how to manage your firm’s bookkeeping… read more…
- How to Choose Financial Advisor Transition Services
You’ve decided that it’s time to move on from your current situation. Maybe you’re ready to go independent, or you’ve decided to accept a position with a new firm. Financial advisor transition services are there to help. And working with a transition specialist can help you better navigate the next phase of your professional journey.… read more…
- How Financial Advisors Can Use Fintech Services
Fintech, or financial technology, is increasingly influencing how people invest and build their wealth. Advisors, meanwhile, are seeing the traditional financial planning model be reshaped through digital innovation. Fintech’s impact as a disruptor can’t be ignored, nor can the opportunities it presents for advisors to streamline and scale their businesses. SmartAsset’s Advisor Marketing Platform (AMP)… read more…
- How to Use AI Technology to Streamline Your RIA Business
Artificial intelligence continues to be a driving force of change in the advisory industry. And embracing AI and its possibilities as an RIA can give you a competitive advantage. After all, it’s clear this technology isn’t simply a passing trend. Exploring AI RIA applications can help you evaluate where it fits into your firm’s growth… read more…
- 12 Online Resources and Tools for Financial Advisors
Running a successful advisory business often means working smarter, not harder. Incorporating digital tools and online resources into your practice can help you improve time management, ensure compliance and deliver a superior client experience, which is vital for your long-term success. You likely have a trusted customer relationship management (CRM) platform and go-to financial planning… read more…
- 9 Steps to Building a Succession Plan as a Financial Advisor
Succession planning is not just something you help your clients with — it’s also something you should consider for yourself, especially when you run an advisory firm. Whether your end goal is retirement or transitioning to a new career path, it’s important to map out what will happen to your business, and your clients, when… read more…
- How to Choose a Custodian as a Small and Independent RIA
SEC rules require that registered investment advisors have a qualified custodian to hold client assets. Your assets under management (AUM) can make a difference when deciding which custodian to work with, as some custodians have a higher barrier to entry than others. However, finding the best custodian for a small RIA goes beyond just AUM.… read more…
- Risk Analytics for Financial Advisors
Clients look to you for help when navigating risk factors that may harm their portfolios. Financial risk analytics uses a big-picture approach to identify where threats may lie and the impact they could have on your clients’ assets and goals. Incorporating financial risk analysis strategies into your practice can enhance the client experience and encourage… read more…
- What Are the Typical RIA Custodian Fees?
The Securities and Exchange Commission (SEC) requires registered investment advisors (RIAs) to have a qualified custodian hold client assets to ensure that they’re properly safeguarded. When comparing options, it’s helpful to consider RIA custodian fees and what you’ll pay for their services. Higher fees don’t always equate to more or better services and the best… read more…
- Website Design Checklist for Financial Advisors
A well-designed website is essential for connecting with prospective clients, promoting your advisory services and establishing your brand reputation. But how do you build a site that’s eye-catching, engaging and designed to provide a superior user experience? An advisor website design checklist can guide you through the process. Add new clients and AUM at your… read more…
- How Should Financial Advisors Spend Their Time?
You have plenty to do to grow your business and serve your clients. But there are only so many hours in a day. Time management is critical to furthering your success, not to mention maintaining your sanity. That’s where an ideal financial advisor time allocation schedule comes in. Creating one allows you to spend more… read more…
- What Is a Repapering Specialist?
Repapering is a time-consuming, but necessary step for advisors who are making the transition to a new firm or going independent. If you’d prefer to have professional help in navigating the process, you could consider working with a repapering specialist. Finding the right service to work with begins with understanding what repapering specialists do. SmartAsset’s… read more…
- Everything a Financial Advisor Needs to Know About Repapering
Repapering — which involves having your clients complete new contracts or other paperwork — can present a significant logistical challenge to even the most organized advisors. The more clients you have, the more complicated things can become. However, preparing for this possibility and exploring the available tech solutions can help you navigate a repapering event… read more…
- 5 Tips to Improve Portfolio Reporting for Your Clients
Your clients rely on you to help them make informed decisions about advancing their financial goals. This is why portfolio reporting is important – it provides a framework for identifying risks, measuring performance and developing actionable investment strategies. Improving your reporting processes is also an effective way to build trust and enhance client relationships. SmartAsset’s… read more…
- Benefits of Equity Model Partnerships for RIAs
Part of growing a successful advisory business means making the strategic decisions necessary to advance your goals. One avenue you could consider is shared ownership in the business through an equity partnership model. Moving to an equity partner structure can offer some distinct advantages for scaling an RIA, which we’ll review below. SmartAsset’s Advisor Marketing… read more…
- How to Value a Wealth Management Firm
Buying or selling a wealth management firm requires careful planning. One of the most important considerations centers on valuation, which is typically based on one or more multiples. Here’s a closer look at the most often-used wealth management firm valuation multiples. Ready to grow your client base? SmartAsset AMP can help you connect with leads.… read more…
- 4 Tips to Improve Client Communications at Your Firm
How you communicate with your clients can be an important factor in determining whether they remain your clients, or look elsewhere for financial advice. Good financial advisor client communication is a reflection of how often you interact, and the quality of those interactions. Improving your communication strategy is critical for building strong advisor-client relationships that… read more…
- 7 UX Books Financial Advisors Can Use to Improve Their Website
When a client visits your website, you want them to stick around. And their initial user experience can influence whether they linger or leave. User experience, or UX, is one of the most important design elements you’ll want to incorporate when building out your website. A well-designed site that’s easy to navigate can increase conversions… read more…
- How to Create Buyer Personas as a Financial Advisor
Buyer personas are an important part of a financial advisor marketing plan. A buyer persona is a fictional representation of your firm’s ideal client. Personas can help you tailor your marketing to develop effective campaigns designed to convert those types of clients. Let’s look at how to create buyer personas based on the types of… read more…
- What to Know About Valuations of a Financial Advisor Firm
If you’re interested in buying an established advisory practice, or selling one that you currently own, you first need to have a good idea of what it’s worth. After all, value is central to the discussions when a business is set to change hands. Here’s what you need to know about financial advisor firm valuation… read more…
- Actionable Ways to Grow Your Financial Advisor Business
Growing a thriving advisory business takes patience and planning. A slow and steady approach can help you win the race, if you have a plan to follow. We’ll show you how to grow a financial advisor business using measures that are both actionable and impactful. SmartAsset’s Advisor Marketing Platform (AMP) offers financial advisors services like… read more…