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Komfie Manalo, Opalesque Asia: In the face of escalating regulation, increased commoditization, and fewer people entering the profession, the wealth advisory business is undergoing many changes.
In their new book entitled, The Enduring Advisory Firm: How to Serve Your Clients More Effectively and Operate More Efficiently, BNY Mellon's Pershing Advisor Solutions chief executive officer, Mark Tibergien, and BNY Mellon's global head of segment and technology marketing, Kim Dellarocca have challenged commonly-held industry assumptions and put forth a strategy for building an enduring wealth advisory business.
"Over the years, we have repeatedly seen advisory firms hit the same series of walls as they grow their firms, and this has been exacerbated in a rapidly changing industry," said Tibergien. "However, these challenges are eminently fixable if advisors ask the right questions and focus their attention on three critical areas that are often overlooked: attracting and retaining top talent, implementing cutting-edge technology that enhances operational efficiency, and putting into place profitable pricing structures that ensure the firm remains on solid footing."
The book takes a fresh look at the business of financial advice and arms advisors with insightful ideas to help them take their firms to the next level of operating excellence. The book provides a primer on the state of the advisory industry, offers a thorough overview of the diverse ...................... To view our full article Click here
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