Growth strategies

Resources and personal connections offer significant advantages. But financial advisors and other experts say they only get new RIAs part of the way.

The choice of buyer and the price get the most attention, but a possible merger of equals and the technology side of the transition could loom large in the strategy.

Much like deciding the right client headcount, choosing whether to fire a customer or turn away new business represents an important step in a firm's development.

Step away from the rote 30-second spiel. Instead, forge connections with advisory prospects based on trust, not tactics.

The question ties into so many of the factors that distinguish large and small firms, various client niches and decisions about whether or not to hire staff.

The fact that many financial advisors say they do not provide tax planning belies how much value they may add through that service, according to an expert.

Tips and tricks on building a successful niche: This week, Andrew Barninger of Personal Wealth Advisory shares insights on financial planning for business owners looking for an exit.

Some financial advisors may still hesitate to get on LinkedIn, Facebook, Instagram, YouTube or TikTok. But experts say growing firms need to be on the social platforms.

In a field with very high rates of attrition, financial planners are finding pillars of support in study groups as they work to reach more young customers.