To increase their AUM, RIAs might want to spend less time pressing the flesh and more time pressing buttons.
Referrals are typically seen as the best way to grow an advisory practice – but a newly revealed data set reveals that technology is key to business development.
Graig Norden, president of San Francisco-based Freewheel Marketing, developed the data set after establishing a new scoring regime for how RIAs are implementing technology, finding that the fastest growing firms are taking a more holistic approach to digital marketing.
“There’s now evidence to show that technology is really going to help improve RIA’s businesses,” Norden says. “Financial services is a relationship-oriented business.
Source: FA Magazine