Financial Advisors

Top Articles in 2019 From the Institute for Innovation Development

Let's take a moment to review some of the best financial services innovation articles and discussions that the Institute for Innovation Development developed throughout 2019. They demonstrate an important range of practice management/business management innovation topics, FinTech companies, innovative business & money management leaders, and next generation client & community engagement strategies that the Institute and its Founding members were engaged with this last year.

It will also give you an indication of the innovative discussions, people and topics that we will continue to explore and bring to you in 2020. Join us for the ride! Cheers!

Uncovering FinTech companies and next-generation advisor services as part of our ongoing FinTech radar program:

Accelerating Innovation In Risk Measurement Tools - The most strategic way for advisors to protect their business, reputation and client portfolios is to assess their current risk tolerance tool.

"Inaccurate, confusing and outdated investment risk assessments pose a major business risk for advisors." - Larry ShumbresCEO of Totum Risk

Increasing Advisor Value Using Model Portfolios - Fintech is developing into a strategic tool for savvy advisors. An example of an application in model portfolio area is explored.

“There are many evolving and compelling forces at work on the traditional advisor business model and value proposition, but none as transformative as the wave of financial technology in the form of the growing number of FinTech companies” -  Bill Hortz, Institute for Innovation Development

How To Join The Revolution And Digitally Transform Your Firm – Discussion on why and how firms should implement a digital transformation

"While digital transformation is not easy, once you undergo the process, the efficiencies and effectiveness of the organization increases tenfold." - Michael Pinsker, Founder & Chairman of Docupace Technologies

Building A Disruptive Innovation For Advisors – Conversation with a FinTech CEO sharing his real-world experiences in building his company’s new enhancement into a beneficially disruptive service for advisors.

“I believe companies often make the mistake of designing products based on what they think customers need, instead of learning from them directly and developing based on their actual needs.” - Corey Westphal, CEO of Mobile Assistant, Inc

Advisors—What Is Your Relationship with Technology? - How does a financial services firm partner with technology? FinTech CEO shares his experiences from the trenches of these burgeoning industry relationships.

"FinTech is not a commodity, and advisors should participate in relationships that offer collaborative development access" – Bo Howell, CEO of Joot (formerly CCO Technology)

Uncovering unique client engagement strategies:

Evolving The Advisor-Client Relationship - Financial advisor discusses how to challenge traditional industry thinking and business models.

"The answer is to create experiences for your clients, help them with important decisions, both financial and other, and help clients expand their concepts of life, retirement and learn to balance work, play and money." – Ray Loewe, CEO, the Luckiest Guy in the World

At the Intersections of Financial Services - The history of innovation can provide a proven and much needed roadmap for the future of the industry.

“Our goal is to create intersections of value through proactive planning with the additional professionals our clients rely on - to identify greater levels of opportunities and unseen challenges that can only be seen and resolved in co-ordination.” - Travis JenningsCEO of FinanceCAPE

Converting Digital Marketing Into Guaranteed Outcomes - The new blending of marketing and technology, and how one financial advisor firm applied it to financial services.

"We built White Glove to deliver everything we wished we had when we were hosting these seminars…and a guarantee was at the top of the list." - Mike ThurmanCo-Founder of White Glove

Relationship Marketing As An Advisor Differentiator - The key to long-term success lies in building meaningful relationships with your prospects and clients.

“You must create raving fans from the clients you already have. Those kinds of client relationships are recession-proof.” - Luke Acree, President of ReminderMedia

Uncovering new thinking and applications to traditional financial services products and business approaches for financial advisors:

Rethinking The Retirement Crisis - Solving large scale problems like the growing retirement challenge in U.S. may require a revisiting & rethinking of traditional planning approaches & older investment tools.

"The evidence and research clearly show that the best time to get a reverse mortgage is when you are earlier in retirement." - Harlan Accola , National Director, Fairway Independent Mortgage Corporation

Rethinking The Realm Of Advanced Wealth Management Solutions - True comprehensive wealth management requires a very broad, encompassing set of strategic financial solutions to properly handle complex wealth issues, but advisor biases may get in the way.

"To be competitive and effective in addressing HNW family goals, advisors need to learn the who, what, when, where and how of PPLI, and all related planning applications." - Alan Jahde, Investors Preferred Life Company

Rethinking An Age-Old Risk Management Tool - The substantial competitive potential & easy glide paths available for advisory firms and RIAs to implement a fully turnkey insurance program for their HNW clients.

Proactively uncovering more financial needs and helping implement immediate solutions has only strengthened the client/family connection with the advisory firm that has led to engaging more family members, gaining more referrals and further building trust.” -  Matt Meyer, Co-Founder of The Blueprint Insurance Services

Uncovering progressive, active investment management perspectives:

Tearing Down Conventional Investment Wisdom – Financial advisory firm CEO warns advisors and other money managers about the risks in not challenging “conventional wisdom.”

"As a portfolio and risk manager, I decided that there had to be a better way to manage the risk of inevitable volatile bear markets, while providing advisors and investors peace of mind." -  Tom Hardin, Managing Director and Chief Investment Officer of Canterbury Investment Management

How AI Impacts Advisors And Money Managers - Learn how AI can directly impact the ability to generate performance and garner increased AUM  

“AI can be looked at as a virtual research analyst that never sleeps and provides fully formed investment opportunities.” - David Aferiat, Co-Founder and Managing Partner of Trade-Ideas

The Architecture Of Modern Risk Management - Financial advisory firm leader discusses their firm’s perspective of risk management as architecture.

"Our philosophy and discipline work together to build in resilience at the individual company level and at the portfolio level as well."-  Elise Hoffmann, Principal, Marshfield Associates

Applying A Business Mindset To International Investing – International, and especially emerging market investing, requires a rather open and expansive mindset.

"You need to have practical, local business knowledge in truly understanding the big picture and the subtle nuances of the operating environments in the markets you are investing in." - Robert Scharar, President and Portfolio Manager at Commonwealth Funds

Uncovering Asset Management topics:

Determining The Right Amount Of Tech For Asset Managers - How to determine the right technology solutions for clients.

"There's a lot of misinformation or misconceptions in the approach that managers are taking in terms of evaluating and purchasing pieces of technology." - Matt Franey, Director of Business Development at Celera Systems 

New Research Confirms Active Funds Place In Your Portfolio – New research displays why wealth advisors should be reassessing active management.

"Dismissing all active strategies could negatively impact clients’ returns." - Sean BrownPresident and CEO of YCharts

A Strategic Approach To Active Asset Management Survival And Sustainable Growth - How to shape a strategy that will become the direction, scope and future growth of your organization.

“I firmly believe that the incorrect prevailing focus by asset managers on assets under management has created a soft under belly for the industry that will continue to be painfully exposed this year." - Dan Sondhelm, CEO of Sondhelm Partners 

Covering eclectic mix of events:

The Art And Science Of Client Engagement - At a rather unique financial services industry conference, I was stricken by the level of discussions and trainings going on around what it meant to truly engage and connect with your clients and prospects.

“Conference revealed the importance of client engagement as a central goal and strategy for advisors that should be carefully thought –out and purposely designed into their firms operations.” - Bill Hortz, Institute for Innovation Development

The Past, Present and Future of Blockchain and Crypto - Historical background, revealing context and prescient vision were presented on blockchain and Bitcoin at a recent conference in Florida.

“This Conference did a great job of setting the record straight with the proper context for discussions of blockchain and cryptocurrencies.” - Bill Hortz, Institute for Innovation Development

Mobilizing Your Local Entrepreneurial Ecosystem - A recap of Tampa Bay’s Synapse 2019 Summit and how it called forth the region’s entrepreneurial resources and startup companies.

"No matter how large or small an area or region, there exists the beginnings of local/regional entrepreneurial ecosystems. They need to be supported." – Bill Hortz, Institute for Innovation Development

Celebrating A Tampa Bay Innovation District - How one organization’s efforts turned their local community into one of Tampa Bay’s technology hubs and major startup business incubators.

"All industries, especially financial services, should take note that dynamically partnering with your community should be part of every firm’s business model." - Bill Hortz, Institute for Innovation Development

New Institute deep-dive, multiple perspective interview format on important industry issues:

Hearing From The Source Of Social Investing -To get a better understanding of what is happening in the world of socially responsible investing, we reached out to a cross-section of socially responsive asset managers.

“Historically, whenever there is a great deal of friction and opportunity, we tend to get industry changing disruption. There may be something meaningfully structural going on here.”  - Bill Hortz, Institute for Innovation Development

Thank you for reading and much more to come in 2020!

Bill Hortz

Founder, CEO and Dean

Institute for Innovation Development

 The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation and unique community engagement strategies.

The institute was launched with the support and foresight of our founding sponsors - Pershing, Voya Financial, Ultimus Fund Solutions, Fidelity, and Charter Financial Publishing (publisher of Financial Advisor and Private Wealth magazines). For more information click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Bill Hortz

Bill Hortz is an independent business consultant and Founder/Dean of the Institute for Innovation Development- a financial services business innovation platform and network. With over 30 years of experience in the financial services industry including expertise in sales/marketing/branding of asset management firms, as well as, creatively restructuring and developing internal/external sales and strategic account departments for 5 major financial firms, including OppenheimerFunds, Neuberger&Berman and Templeton Funds Distributors. His wide ranging experiences have led Bill to a strong belief, passion and advocation for strategic thinking, innovation creation and strategic account management as the nexus of business skills needed to address a business environment challenged by an accelerating rate of change.

Read Bill's Bio