Tag: advisor-practice-management

What incredible times we are living through right now.  About six weeks ago here in the United States all seemed quiet and strong.  Of course, there are always problems, but by comparison to today, things were positive.  Boy, that seems like a long time ago.

Regardless of how this coronavirus pandemic plays out, the lesson we can already take from this is that…you just never know.  No matter how good things seem and no matter how long the fun ride has lasted, it always comes to an end, and usually when we least expect it.  The movie Cocktail, starring Tom Cruise, brings us Flanagan’s Law, “All things end badly or else they wouldn’t end.”

By most measures, markets have entered a bear phase and are down almost 20% from all-time highs. The coronavirus, oil rout, and politics have combined to create a perfect storm in the markets. In times like these, what do we crave most? Surely, we all want to be safe and to know that the virus spread has slowed and that a cure or vaccine is ready to be deployed in abundance. We want to have control when none is available. Short of control, the next best thing we hope for under a constant barrage of bad news is…clarity.

When I first joined the team here at Blueprint, there were several "Ah ha" moments that stood out.  Coming in, I considered my role as National Sales Director to be leading the effort to broadcast the power of Blueprint’s sophisticated, yet simple story. As I reviewed our existing marketing materials, I noticed a chart comparing our Growth strategy (an 80/20 stock/bond model at its baseline) to a traditionally allocated Balanced portfolio.

Let’s begin with a bold statement: no financial advisor (or asset manager for that matter) has ever been fired for over-communicating with their client. But according to a recent study, a lack of communication is perhaps the easiest way to get replaced. Even the best advisors sometimes forget this. A survey of individual investors reveals that 64% of clients with assets greater than $500K report being contacted “infrequently” or “very infrequently” by their advisor.  As we enter the eleventh year of the longest and best performing bull market in U.S. history, there has never been a better time for a proactive review of your client communication strategy.

Word Count - 703

Approximate Reading Time - 3.5 minutes

So much has been written about the consumption of TD Ameritrade by Schwab that we hesitated to say anything on the subject. However, our experience with elite advisors, investment platforms (TAMPS), and larger RIA consolidation firms leads us to the conclusion that this transaction is just the tipping point in the changing world of custody, and that now is the time for advisors to take a strategic look at all their options.