Matt Matrisian

A strong identity these days must include a robust and engaging digital presence.

Firms should focus on the distribution of compensation, not just setting a fee structure.

The partners who own a firm need to create a compensation structure that accounts for their own changing roles over time.

Today's advisors must have a robust and engaging digital presence. Here are some tips to help you bring your business into the 21st century.

Strong details and carefully executed plans make for a positive transition.

Advisors can do a better job when it comes to preparing team members to succeed.

Few firms have provided staff members with formalized career paths. This disconnect creates significant untapped potential for firms to better harness their human capital -- by actively engaging their teams for growth and greatness.

There are steps you can take to increase the possibility of a successful, long-term hire. Here is a six-step process that can serve as a best-practice standard for hiring.

Any firm that wants to grow needs to consider how to best manage one of its key assets—its people. Unfortunately, Matt Matirisian reminds us, although most advisors are great entrepreneurs and visionaries, they are not necessarily good people managers.

The best elevator speech starts with why you do what you do and briefly covers what you do and whom you serve best. Beyond that, Matt Matrisian suggests advisors expand their thinking to create an effective conversation.

Although client referrals are the single biggest driver of new business, only 20% of advisors ask for referrals systematically. Worse, a majority indicate that they can address referrals only occasionally in client meetings. Matt Matrisian writes that advisors need to focus on reinforcing referral behavior in their client base to generate real growth.

By handling referrals in a simply, systematic and disciplined way, advisors can promote meaningful growth at a limited cost, according to Matt Matrisian.

Just as the market volatility of the last few years has been challenging for investors, it’s also been challenging for advisors. In addition to the higher level of effort required to keep nervous and frustrated clients on the books, high volatility in client accounts makes it harder to be confident of fee-based revenue and therefore confident of a practice’s overall financial health.