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Platinum Strategies V1 9.7.16

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Transcript of Platinum Strategies V1 9.7.16

OPENING REMARKS
IS THE DOL A
HOW MANY FIRMS WILL FAIL
2010
2014
4,034
2015
2020
?
AGING CLIENTS AND AGING ADVISORS
43%
Age:
55+
Financial Advisor: Average age 50
HNW Client: Average age 57-59
$4.1 trillion
of UHNW money will transition to the next generation over the next
10 years.
The DOL rule will cost more money in compliance,
result in fewer product choices, lower commissions and higher litigation costs.
4,181
4,578
PERFECT STORM FOR IBDS?
FSI says it will cost the industry
$3.9 billion
– more than 20
times DOL estimates
.
Age:
55-64
1/3
Is your firm ready
for the largest wealth transfer in history?
Are you building relationships with the children of your top clients?
Are you hiring the right junior advisors?
We’re getting old
and so are our clients.
CLIENT RELATIONSHIPS
BUILDING BETTER
Nearly half of millionaire clients wouldn’t recommend their own advisor.

How does this statistic make you feel?

Do you feel confident that your HNW clients would recommend you?

Is your practice branded appropriately?

Do you have a system to get referrals?
FIDELITY: 45%
OF MILLIONAIRES WOULDN'T RECOMMEND THEIR FA
RISE OF THE ROBOTS
ROBO ADVISORS ARE
2008
Is your firm positioned to compete
with robo advisors?

Today, you can be easily replaced.

What are you doing to add value to your client relationships?

YEAR
2009
2010
GROWING BY
68%
A YEAR
2016E
-1.1
-1.1
0.0
0.1
0.4
0.7
0.8
0.5
0.4
0.2
By 2020, robo advisors are on schedule to manage $2 Trillion.


Investors are flocking to these platforms as are investors who prioritize transparency and cost.


Robos are taking away invested assets from other channels.


Positive note: robos haven’t dealt with a recession or bear market.
CAGR +68%
2017E
2018E
2018E
2020E
Shift from non-invested assets
Shift from invested assets
TECHNOLOGY
IS KING
49.7%
50.3%
NO
YES
29.8%
70.2%
NO
YES
DO YOU UTILIZE SOCIAL MEDIA
FOR BUSINESS?
ALL FINANCIAL PROFESSIONALS
FINANCIAL
PROFESSIONALS GENERATING OVER $1MM
IN COMMISSIONS & FEES ANNUALLY
UTILIZATION OF SOCIAL NETWORKS FOR BUSINESS IN THE FUTURE
DO YOU PLAN TO INCREASE YOUR
56%
16%
28%
YES
NO
NOT SURE
GREATEST IMPACT ON YOUR FIRMS BUSINESS IN THE PAST YEAR?
WHAT SINGLE TECHNOLOGY HAS HAD THE
Advisors are no longer reluctant to embrace technology.
Financial planning software
19.4%
17.3%
14.1%
6.8%
CRM
Smartphone
Portfolio management software
Mobility solutions
Rebalancing Software
Outsourcing portfolio management
Web conferencing solutions
Document management software
other
6.3%
4.7%
3.7%
4.2%
3.3%
7.3%
Profit margins are being squeezed by low rates and volatile markets.

The DOL ruling will squeeze margins by increasing compliance costs and taking away product lines.

Advisors will have to refine their activity and bring in more assets to maintain revenue.

What are you doing to increase your compensation?

MARGINS ARE FALLING
Non-Owner Lead Advisor
Associate Advisor
Support Advisor/Paraplanner
FINANCIAL PLANNING OVERALL
COMPENSATION GROWTH RATES BY TITLE
6.0%


5.0%


4.0%


3.0%


2.0%


1.0%


0.0%
JOB TITLE
ANNUALIZED GROWTH RATE
IN COMPENSATION
FA Insight 2009-2015
Investment News 2013-2015
YOUR PRACTICE
FOR THE FUTURE
12.9%
Tablet
Advisors today face regulatory, demographic and technological challenges.

Build a practice that’s poised for success in the next decades.

Or, you can do exactly what everyone’s been doing for years. And probably fail.

We created this conference to teach you how to overcome the challenges.

Having a strategy is important. We’re going to help you create one.

Now, let me introduce some of the sponsors and friends who have helped us create the incredible material we have to share with you.

OVER THE NEXT DECADE
We’re going to talk about some critical challenges facing the industry.
How many BDs will there be in 2020?
Since 2008, there’s been a steep acceleration in broker-dealer closings.
IF NOT,
WE’RE GOING TO TEACH YOU HOW.
The rise of robo advisors and online competitors has made it important for advisors to embrace technology.
Full transcript