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Advice for small firms and frequent flyers: Lightning Round with NAPFA CEO Geoffrey Brown

The financial advisory business may be consolidating, but smaller firms still have a bright future — as long as they up their game, says NAPFA CEO Geoffrey Brown.

“It’s really about firms differentiating themselves and providing superior service and value to their clients,” he explains.

In order to do that, advisors will have to reckon with the impact of technology and make careful choices, Brown cautions.

Diversifying the industry’s workforce is also critical for future growth, he says. Less than 4% of certified financial planners are minorities, according to the CFP Board.

Advisory firms have a long way to go, but Brown says the excitement he’s seeing around NAPFA’s outreach programs is “really encouraging.”

And how, as a (very) frequent flyer, is Brown able to keep his life in order? Find out in this Lighting Round.