Wealthtech Insider

Recognizing that, even amid the recent Covid pandemic, advisors are breaking away from brokerages and switching between firms at an accelerating rate, Orion has entered the matchmaking business.

Measuring success in investing in terms of the performance of financial markets has very little to do with real life. Real people have goals & some of those goals are essential to achieve, while others are more aspirational.

“Inflation is not a problem for our time, it is a problem for all time,” said Michael Ashton on a recent podcast hosted by Rusty Vanneman of Orion Portfolio Solutions.

Behavioral finance has discovered a tendency in humans to create “mental accounts” or “buckets” and having a bucket earmarked for safety can go a long way toward calming the nerves of rattled investors.

Data security breaches grab headlines every day, exposing businesses & their clients to grievous costs & potential liabilities. In the first half of 2021, more than 1,700 data breaches have exposed about 18.8 billion records.

As advisors try to broaden their clientele, they’re better off focusing on creating memorable experiences than on trendy client groups and prospect sources.

The role of an advisor has shifted rapidly in recent years. Investors no longer approach them to “beat the market” or to perform stand-alone asset management that has become commoditized in our industry.

Most of advisors’ frustrations with wealth management technology stems from one issue: their applications, platforms and systems aren’t playing well together.

After founding a business and setting out on their own, advisors must plan early to achieve enough growth to reach their first $1 billion in AUM—then it’s time to reassess.

Technology is causing a convergence in industries – even in the financial industry, products are relatively similar and the same services are offered at scores of advisory and wealth management firms.