Unlike most sports, there’s no clock in baseball. It’s about a unique moment – two down, the bottom of the ninth, a full count with a left-handed pitcher and right-handed batter with a slight wind blowing from left to right field – and the right strategy to address the situation.
Today, we face a similar situation within the wealth management industry – if a bit less exciting. The game’s rules are the same across every market, and access to best-in-class tools is nearly universal.
Firms offering holistic financial planning services may have once appeared as innovative as the infield shift (which is now banned) but that’s now considered table stakes for growth. While creating affinity teams to service targeted sectors is not new, the practice is gaining attention from firms that want to showcase their expertise and understanding of individuals with specific needs…
By Arthur Embarik on Wealth Solutions Report.