Intelligence



The Flash Blog

Beacon Strategies, LLC, a leading consulting and thought leader to enterprise retail wealth firms, is pleased to announce its newest service offering, named Vendor Steward.

Tuesday, May 5 2020

This new service supplies wealth firms with a vendor management framework. The technology and structure support the ongoing documentation needs demanded by regulators, as well as the option for an overlay infrastructure that helps relationship building with solution providers. “Over the past two years we have been working on this service,” Chip Kispert, Managing Partner, . . . Read More

Password Prefix for Dark Web Protection

Thursday, March 26 2020

Supplied by our friend Vincent Guyaux at FCI. Vincent supports advisors’ cyber issues on a daily basis. The Dark Web is a part of the internet hidden to most users and search engines. A 2019 study by Dr. Michael McGuires at the University of Surrey, shows that the number of Dark Web listings that could . . . Read More

Conversation Starters – Remote Work Cybersecurity

Thursday, March 26 2020

Marshall composed this piece with the help of the Beacon Team The COVID-19 pandemic has thrown many of you headfirst into establishing a remote work environment for large parts of your organization. Although these are temporary solutions at the moment, we believe Wealth Management firms will increasingly adopt alternate workplace options as a permanent component . . . Read More

The New Technology Enterprise Wealth Firms are Engaging: Robotic Process Automation (RPA)

Wednesday, March 25 2020

In the past year, we have seen RPA permeate into Enterprise Wealth firms. Recently, at FSI we heard a panel of technologists discuss how they are using RPA to streamline operational processes, save money, and improve multiple persona-based experiences. Last week, I had the opportunity to talk to Chris Mills, EVP of Kovack Securities. Chris . . . Read More

The New Normal

Tuesday, March 24 2020

Even before the race to zero commissions this past Fall, the industry has been striving to demonstrate and reinforce the value-added relationship of an advisor to investors.  The keystone of this relationship is, as it has always been, the extraordinary value of sound advice and coaching, particularly during times of market turbulence. But this advice . . . Read More

Ron’s Musings

Tuesday, March 24 2020

I recently saw a presentation by Rich Cancro, the CEO of AdvisorEngine, which was titled “The Change Hypercycle.”  This presentation envisioned a dizzying array of changes that will confront the advisor community, without even remotely considering the staggering life alterations imposed by our ongoing pandemic.  I believe that many of the changes envisioned by Rich . . . Read More

Don’t forget your clients during this pandemic crisis and volatile market.

Tuesday, March 24 2020

After the immediate impact is felt and families are cared for, clients will be looking for someone to guide them through this pandemic crisis. They will look for someone to empathize with their situation, understand their fears and uncertainties, and lead them through this crisis. Clients will want to understand that distance commerce is now . . . Read More

Soundings—The New Wealth Management Proxy Chapter

Monday, December 9 2019

We are about to see a seismic demographic shift within our industry. Four out of every ten advisors will exit in the next ten years. How are enterprise wealth firms going to retain investors who have formed an intimate relationship with these advisors? What is the model for the next-gen advisor? What will define relevance . . . Read More

The Roundtable Sonoma—Top Ten Takeaways

Wednesday, November 20 2019

1. Enterprise Technology Platforms The buildout of enterprise technology platforms is the trend. Significant work and resources have been spent, but the realization of operational efficiencies are still a work in progress. Among the many factors that are holding back the recognition of significant operational efficiencies are the use of legacy forms and manual processes . . . Read More

Understanding the Economics of Your Clearing Relationship

Monday, November 4 2019

The race to zero commissions has placed a spotlight on a part of our business that has experienced dramatic change during the last 10 years. In working with firms to help them better understand their business, we continue to find ticket charges identified as the critical expense in the clearing and custody relationship. In fact . . . Read More