An article in the May edition of The Insurance & Investment Journal reminds me of one of the interesting evolutions in the financial advisory business, which I saw starting to impact the business before I left in late 2013.
Increasingly, younger people have been entering the fray with social media savvy, and to some extent incorporating this into their marketing. One young colleague in his twenties particularly exemplified this attitude. He was continuously using Facebook and Twitter to contact clients and market to prospects. This practice developing approach wasn’t a whisper in the old days. (more…)
For a long time, the most common expression featuring the word bucket was ‘kicking the bucket’. A somewhat humourous metaphor, it essentially serves as salve for the ominous image of the end of life.
In recent times, the bucket has been kicked over to a more positive, forward looking concept – albeit still relating to the end of one’s road – the ‘bucket list’. One suspects that longer life beyond work years has something to do with this growing popularity. (more…)
One of the most important duties of anyone leaving a business which is intended to continue in some manner is succession planning. Especially if family run, or involving tangible goods, the process should be easier: there is familiarity, incentive, and more solid inventory to work with in valuation. However, in determining fair valuation of an intangible, service-oriented ‘book of business’, the process is more complicated and subject to interpretation. (more…)