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On this episode of the RIA Edge Podcast, David Armstrong, managing director of editorial and content material methods for the Wealth Administration Group at Informa, talks with Rob Madore, vp of monetary providers for MarshBerry, about latest analysis the agency has executed with WealthManagement.com’s WMIQ to discover how agency leaders take into consideration including new shopper providers, each to pursue natural progress and protect charges. With over 70% of advisors actively exploring methods to reinforce providers, Madore warns it’s no panacea. Corporations that make it work must bear a ruthless self-appraisal and have a transparent view of how the transfer will affect the enterprise’ backside line.
Particularly, David and Rob talk about:
- The highest causes companies look to broaden shopper providers, and the providers most companies wish to add.
- How companies resolve whether or not to outsource, purchase, or associate with others to carry purchasers further providers.
- What RIAs usually get unsuitable about service growth, and the affect on the enterprise.
- The place charge compression and margin dynamics match into the selections and methods RIAs pursue.
- Why know-how is the pivotal enabler for enhancing shopper experiences.
Assets:
Join With David Armstrong:
Join With Rob Madore:
About Our Visitor:
As a Vice President on MarshBerry’s Monetary Advisory crew, Rob helps RIAs develop and implement sustainable progress methods.
Previous to MarshBerry, Rob held management positions at firms like Clever Rhino Group, WebMD and Questis, the place he was a sought-after speaker and marketing consultant targeted on giving companies the instruments to thrive by means of the convergence of the wealth, retirement and insurance coverage industries.
He holds a Bachelor’s of Enterprise Administration from the College of Vermont Grossman College of Enterprise and is a proud supporter of veteran teams like SEALKids.
Beforehand a collegiate {and professional} hockey participant, most not too long ago with the Toronto Maple Leafs group, Rob now lives in Charleston, S.C., together with his spouse, Allie, and his two sons, Louis and Teddy.