Winning the Future of Advice — Insights from Tiburon and Chip Roame

What does the future hold in store for financial services? What trends will have the biggest impact on how to invest and plan? What do financial advisors need to do to win the future of advice?
 
As part of Loring Ward’s recent 2015 National Education Conference, we sat down with one of financial services’ great visionaries and forward thinkers, Chip Roame, Managing Partner, Tiburon Strategic Partners, for his insights on these critical questions.
 
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Are You Looking Over Your Shoulder at the Robo-Advisor?

RobotAre robo-advisors a threat to the traditional advisor model?
 
It depends. If you’re an advisor running a practice that looks like an old Borders bookstore or an old Blockbuster video store then yes, you should be worried. However, if your practice is more like a Nordstrom department store I think you have nothing to worry about.
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Investment Management is now Free

birdCage_freeIn the late 90’s I joined Schwab’s Electronic Brokerage (EB) division. Before I joined, EB was effectively a separate company (e.Schwab) with its own pricing, service structure and client base. It was designed for investors seeking to trade online and on the cheap – $29.95. You see, the discount brokerage side of Schwab still charged significantly higher prices for trading – upwards of $80. Then everything changed and Schwab offered flat $29.95 pricing across all business units.
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