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What a slew of recent RIA surveys say about the firms' hunger for growth

Firms are ready to hire and recruit investors but they're aware that pitfalls abound

Author Lisa Shidler June 16, 2011 at 2:33 PM
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Scott Dell'Orfano: Two years ago, advisors were all about calming clients down.



TD Ameritrade






Rivermark Research


ClearBridge Wealth Management

Elmer Rich III

Elmer Rich III

June 16, 2011 — 10:40 PM

We do this work for both RIAs and TPAs, and others. it is very hard to do. We can go on at length but will make it short.

All financial services firms and professionals now face a much harder and more complex business development environment — post-meltdown. It is hyper-competitive, and getting more so. Likely more opportunities as well. Maybe.

In addition: – Changing from a culture and mindset of hunkering-down and protection to growth is a very big psychological step — for the firm and individuals. Let alone the nuts and bolts business process that need to be added, reconfigured, etc. – It’s (very) expensive – in Principal’s time as well as money. – Social media has changed everything. Everyone’s and every firm’s business reputation now resides on Google, 24/7/365. The best clients and professionals live their lives on-line now via their gadgets. You don’t want to work with the ones that don’t.

The good news is — if you are truly the best at what you do, the world is looking for you. Real, proven, expert problem-solving skills and solutions are getting harder and harder to find. Are you?

Finally, everyone is already fully and over committed in everything in their lives. Getting and keeping the attention of the “best and brightest” clients (and referral sources) is really (really) hard work. Sorry.

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