What must thinking clients make of AUM fees?
LINKS FOR GROWING ADVICE FIRMS
Here are what we consider to be the best and most important reads for advice firm owners from the past seven days.
“To a thinking client, it's really difficult to understand why AUM fees make sense, and not just in the fairness sense. What does it incentivise? I'm paying for the thing that is a commodity, but I'm getting the valuable stuff for free. I'm sorry, that idiotic. And the fact that the industry sticks to it is bizarre and, I believe, unsustainable.”
Sticking to AUM fees is unsustainable, says Jason Zweig (Michael Kitces)
Marketing, content & social media
How to build your online brand using social media (Samuel Deane)
Advisers are increasingly using Instagram to build a following (Nicole Casperson)
Five reasons why adviser websites fail to perform (Blair Kelly)
Business development
Choosing not to grow your business has its downsides (Jeremy Walter)
Firms need to think differently to connect with prospects (Tony Vidler)
Trust
Advisers must unite to show they can be trusted (Keith Richards)
Woodford underlines the need for advice people can trust (Robin Powell)
How to build trust with clients from ethnic minorities (Nandita Das)
What we can learn from the military and churches about gaining trust (Amanda Ripley)
How can we arrest the growing culture of mistrust? (Shane Parrish)
Fintech & suitability
How virtual and augmented reality could transform financial planning (Justin Cash)
Widening access to the financial world presents pitfalls as well as opportunities (Selina Flavius)
Do financial marketplaces provide enough protection? (Anthony Morrow)
Advice for women
New research shows women rely on advisers more than men (Mary Beth Franklin)
Firms need to address why so many women prefer female advisers (Michael Thrasher)
Advice & wellbeing
Why health and wealth planning are going to converge (Philip Pearlman)
Yes, advisers really are in the wellness business (Rick Kahler)
The advice business
How do you persuade your team of the unpersuadable? (Adam Grant)
There’s never been more interest in acquiring UK advice firms (Verona Kenny)
In-person conferences are returning. But are advisers ready? (Jeff Berman)
Could UK MPs put pressure on the FSCS over ever-increasing levies? (Daniela Ešnerová)
Missed last week's links? You'll find them here.
CONTENT FOR ADVISERS
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