Whether you're an RIA or a broker-dealer, you know that it's critical to understand your clients and potential clients. Understanding how they do business online is an important step toward understanding their needs. Here's a great infographic about the financial habits of baby boomers. It can give you insight into how to better market your services to this segment of the population.
Fidelity has just released its second annual “Insights on Independence” study, and the results show that financial advisors on the move have the biggest increase in pay. The study found that financial advisors who switched firms earned 22 percent more than they did in 2008 (compared to a 17 percent increase for advisors that stayed put at one firm).
The broker-dealer industry is quickly transforming to become a technology-driven sector. According to a TechLeaders Survey, broker-dealer executives are focused on three key areas: business onboarding and account openings, streamlining data management and improving compliance.
Though the worst of the recession seems to be behind us, growth opportunities for broker-dealers are still hard to come by. But this challenge has led firms across the country to find creative solutions. One way broker-dealers can set themselves apart from the competition is by adopting new technology.