Insights

In this video, Chief of Staff Erin discusses how to streamline your document management process.

In this video, Penny discusses ways to stay productive and efficient when you have a light calendar.

Women are a growing economic force in the world, controlling one-third of all wealth. Yet many wealth management firms and the industry as a whole continue to misunderstand the needs of women investors leaving them underserved.

According to a 2019 study, small businesses use an average of 40 different apps. This number grows  to over 200 for enterprise-sized companies and can include many with overlapping and duplicative functionality due to merger and acquisitions that pile layer upon layer of tech debt.

Non-Broker Protocol breaks can be challenging if you are not prepared for what could happen before, during and after your transition. If you are considering transitioning out of your firm, the first thing you should do is find out if your firm participates in Broker Protocol. The Broker Protocol is an agreement between firms enabling advisors to leave one for another amicably. The agreement outlines the pieces of client information that the advisor can take with them and dictates the process for leaving and communicating with clients.

In this video, Penny discusses simple steps you and your team can take to wow prospects and new clients.

Last week, Morgan Stanley CEO James Gorman told his 60,000 employees to come back to the office. "If you can go to a restaurant in New York City, you can come into the office. … If you want to get paid New York rates, you work in New York," Gorman said. "None of this 'I'm in Colorado...and getting paid like I'm sitting in New York City.' Sorry. That doesn't work."

For years I would send a reminder out to advisors at the end of every quarter: “Don’t forget to schedule professional development reviews with your team members.” I would usually get one of two responses: “Thank you! I completely forgot. We’re so busy we barely have time” or “I dread these meetings because I end up doing most of the talking and no one ever comes prepared.”

Damian Lo Basso, the former founder and CEO of Compass CFO Solutions, has joined Journey Strategic Wealth, the new registered investment advisor/partnership launched earlier this year, as managing partner. Lo Basso joins three other managing partners at the firm, which include former Dynasty Financial Partners executives Michael Brown and Brian Flynn, as well as practice management coach Penny Phillips, founder of Thrivos Consulting. As of the end of the first quarter, Lo Basso sold his stake in Compass CFO Solutions, an outsourced accounting, bookkeeping and strategy firm that services financial advisors exclusively, to his partner Matt Hayon.