After the first surge in growth, a mature practice often becomes more profitable by becoming more efficient. Adopting new technology and making it genuinely useful is key; it will make your practice more efficient and is likely to attract more of the kind of clients you want most.

Advisors have always had a strained relationship with technology. A decade ago, advisors were slow to adopt email and create websites. Today, some are still balking at portfolio rebalancing tools and automated workflow technology that could make their practice more profitable.

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