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How to Build a Business Case for Technology Investments
What is a Business Case and Why You Need One Building a strong business case for technology investments is critical. Many projects fail due to poor project planning or lack of executive buy-in and support, or a combination of each. Building a business case will help...
The Advantages of Financial Planning for Investment Firms
Financial Planning Represents an Increasingly Important Role Research conducted by Financial Planning shows that in 2017, fee-based revenue overtook commission-based revenue for the first time. There is a myriad of factors driving this change, including industry...
Mutual Fund Direct Business — Is It Still a Viable Option for Broker-Dealers?
Summary “Is mutual fund direct business a viable option for our firm?” remains an important question for broker-dealers to ask. This article provides a framework to help find the answer. Simply put, direct business involves transactions between a broker and a mutual...
Weighing the Benefits of Financial Advisor Teams
Advisor Team Model The advisor team model remains a growing trend in the investment services industry. According to Cerulli Associates 2018 Advisor Metrics study, more than half (54%) of all advisors operate in a team structure. Merrill Lynch is leading this trend...
How Audit Ready Is Your Incentive Compensation Program?
Audit Ready Incentive Compensation The increasing cost of compliance and oversight – in time and money – is something investment services firms face every day. From internal audits that scrutinize our processes to regulatory bodies like FINRA and the SEC that scour...
How to Leverage Revenue Tracking Data to Drive Growth
Effective Revenue Tracking Revenue tracking and reporting tools help monitor and measure the performance of the entire sales organization, from lead to booked revenue. Investment services firms can leverage revenue tracking data to optimize business strategy and drive...
Key Factors to Consider When Evaluating a Financial Technology System
Implementing a Financial Technology System A frequent topic of conversation we have with investment services firms is the importance of implementing a financial technology system. As firms grow, they soon realize that manual processes and managing disparate data...
Tips for Effective Investment Program Management
Bank Investment Programs Investment programs continue to provide tremendous value to the financial institution (bank or credit union). Studies have shown that households that own investments through their primary bank or credit union are among the most profitable for...
5 Ways To Attract and Retain Millennial Advisors
Millennial Advisors More than one-in-three American labor force participants (35%) are millennials, making them the largest generation in the U.S. labor force, according to a Pew Research Center analysis of U.S. Census Bureau data. Research shows that only about 25%...
Financial Asset Management Compliance
Asset Management Compliance One of our clients came to us with a problem; how to comply with FINRA's customer asset transmit rules for managed money and mutual funds. Our solution: an asset management workflow for tracking, monitoring, and reporting on the location...
5 Reasons Why You Should Reassess Your Dependency on Spreadsheets
Spreadsheet Dependency Dependency on spreadsheets exposes an investment services firm to risk, especially when they rely on spreadsheets for their business-critical functions (such as managing their incentive compensation program). If spreadsheets play an integral...
How to Decrease Operational Risk with Incentive Compensation Management Technology
Operational Risk It's important to understand the operational risks caused by manual processes used within your incentive compensation procedures. Managing and leading an investment services firm is an enormous responsibility. Top challenges include: Growing the...
Interactive Data Chart Compares Financial Advisor Payout Rates
Our free interactive data chart shows the percentage of revenue that advisors make at different production levels, based on data from the Kehrer Bielan 2018 Advisor Compensation Study. We’ve created this interactive data chart to help you pull valuable insights for...
Eliminate Shadow Accounting with Incentive Compensation Management
How much time does your advisor team waste on shadow accounting? In the world of incentive compensation, shadow accounting is the process in which a salesperson tracks their production separately, creating and maintaining a parallel record so that they can...
How to Prevent Single Points of Failure In Your Incentive Compensation Program
Single Points of Failure Do any of these sound familiar? “We better not lose John, or we won’t be able to pay our advisors for weeks.” “No one can cover for Jane, and no one wants to learn pivot tables.” “John plans his vacation around month-end closing.” If so, then...
3 Reasons Investment Services Firms Should Outsource Technology
In-house Vs. Outsourcing Like many businesses, investment services firms frequently debate building technology in-house vs. outsourcing. There are hidden costs and challenges with building in-house systems. An infrastructure in which systems can talk to each other and...
Key Trends in Advisor Compensation Planning
As need for new talent grows more competitive, investment firms need to keep up with financial advisor compensation trends. The need to remain competitive is important for numerous reasons, but perhaps one of the most critical reasons is due to the growing talent...
4 Ways to Improve Your Firm’s Month-end Close Process
Improving the Monthly Closing Process The month-end close process for broker-dealers is anything but simple. Intricate commissions and incentive compensation plans, plus regulatory oversight add to the already complicated, tedious process. Poorly executed procedures...