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3 Things FAs Can Do to Beat the Competition

There are three things financial advisors can do to outperform the competition. So reports Financial Advisor Magazine.

consultants 3180641 1920They include:

  • Proper Pricing: Don’t offer discounts because proper pricing is the most critical tool you have. You need to be compensated properly for the value you provide. That’s why you need to have a pricing model that includes flat fees and other non-asset-based fees. This way you are protected in volatile markets.
  • Focus on the Future: Have a plan to bring in new clients. This can include seminars, educational events and other events that showcase you as an industry leader.
  • Building Your Team: “The RIAs that hire with high-performance individuals in mind and focus on members that can pull their own weight put themselves at an advantage,” according to the article. “It's essential to be selective when hiring for the sake of overhead and team performance.”

Read the full article from Financial Advisor Magazine.

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