Category: Operations and Technology

31 posts categorized as "Operations and Technology"


Pivoting Quickly To A “Work From Home” Model: What Advisory Firms Need To Know

March 23, 2020

With the coronavirus pandemic triggering widespread quarantines, many advisory firms are implementing measures to set up their operations as a Work-From-Home (WFH) environment. We partnered with Kitces.com to provide practical steps firms can take to maintain operations and provide seamless customer service during this unprecedented time. Read the full article here.

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Why Every RIA Needs a Data Analyst

March 17, 2020

From social media giants to your local grocery store, these days everyone is looking to gather and use client data to run their businesses better— and your RIA should be no exception.  Any RIA not incorporating analytics into the development of its business processes and client experience will be quickly left behind.  However, for you…

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Client Portal: Build or Buy?

March 12, 2020

RIA publications and the conference circuit are filled with articles and breakout sessions titled, “The Digitization of Advice” or “The Amazon and Netflix Effect on Our Industry” – all discussing the on-demand culture we find ourselves now living in.  As we have written about previously in this publication, “In our on-demand driven era, clients are…

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Operational Excellence Drives Sales Growth

February 11, 2020

There is a friction that commonly exists within many organizations, and it occurs between the sales department and the back-office operations department.  Both feel underappreciated by the other – Operations thinks Sales doesn’t realize that no product or service could be delivered to clients without their hard work; Sales thinks no one would even have…

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Mark Tibergien Provides RIA COO’s 6 Metrics to Define Their Value

January 29, 2020

I had the distinct pleasure of interviewing Mark Tibergien and Karen Novak of BNY Mellon Pershing, Advisor Solutions for Episode 12 of our podcast, The COO Roundtable.  One of the main goals of the podcast is to promote the notion of professional management within the RIA industry and reverse the belief that professional managers are…

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Post-Merger Integration: “Yes” is Nothing Without “How”

January 13, 2020

In his book on negotiation, “Never Split the Difference,” former FBI hostage negotiator Chris Voss states that, “’Yes’ is nothing without ‘How.’”  Voss, who made a living brokering some of the most high-stakes negotiations, where lives were literally on the line, states, “Your job as a negotiator isn’t just to get to an agreement –…

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CCOs Help Drive Growth at RIAs (Really!)

December 19, 2019

PFI Advisors continues to tout the benefits of professional management for RIAs.  As Rich Gill of Wealth Partners Capital Group recently stated on the Mindy Diamond on Independence podcast, the first two non-client facing executive-level hires for RIAs are typically the COO and CCO.  According to Rich, the COO is brought in to “…make sure…

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A Different Kind of #GivingTuesday Campaign

November 12, 2019

For the second year, PFI Advisors will be participating in the annual #GivingTuesday campaign in a very meaningful way.  Like we did last year, any RIA that donates $10,000 or more to the Children’s Hospital Los Angeles donation page of Layla Paige Sonnen will receive a free Operational Diagnostic*.  This engagement includes a full analysis…

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High Tech vs. High Touch: What Are Clients Really Asking For?

October 18, 2019

Technology isn’t developed to replace human interaction, but rather to enhance it. At the Envestnet conference this past May, the late Jud Bergman was asked about his thoughts around technology’s place in our industry. He astutely concluded, “It’s counter-intuitive that [by building a digital connection with the client] great technology can contribute to a stronger human…

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The Fear of Change, Part 2: The Emotions of New Technology

October 1, 2019

The Fear of Change: A 3-Part Series for RIAs As the RIA industry matures, consolidates, grows, and evolves, many of our clients contemplate M&A transactions, changing their technologies or workflows, or they may strive to break away from their current employer to build their own RIA.  We focus our attention on building and improving the…

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