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Building a High-End Financial Services Practice

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Building a High-End Financial Services Practice

Proven Techniques for Planners, Wealth Managers, and Other Advisors

Bloomberg Press,

15 min read
10 take-aways
Audio & text

What's inside?

To make your financial services firm a wealth management consultancy, target rich people and pump up your potential.

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  • Overview


Financial advisors are hard-pressed. They used to be the investor’s primary source of market information and investing counsel. Now investors can get information and advice for free on the Internet or from a variety of financial publications. Moreover, some of the best free advice that investors get warns them against dealing with financial advisors, who may or may not be acting in their best interest. It’s hard to compete when other people are giving away what you have to charge for, but authors Cliff Oberlin and Jill Powers say it’s possible. How? Focus your practice. Don’t resist change - embrace it. And, getAbstract recommends, read this book for a detailed and easy-to-follow roadmap to financial advisory success.


The Challenge

The business of being a financial advisor has never been easy, but in recent years it seems to have gotten a lot harder. The market is more complex and volatile than it used to be. An array of new choices beckon investors, who once were, if not captive, certainly inclined to trust and rely upon a financial advisor. Now, market information is available free on the Internet and in many financial publications. Direct trading web sites allow active investors to bypass not only the financial advisor but also the old-fashioned full-service broker who once might have worked hand-in-glove with the advisor.

The financial services industry faces other issues, such as widespread investor discontent in the wake of the high tech crash. Recent headlines about the scandalous abuse of trust by corporations and mutual fund companies were another blow. It's easy to understand why many people want to turn their backs on investing altogether and trust no one but themselves. You cannot shrink from this challenge. Financial history will not reverse its course. The only way to succeed as an advisor is to embrace and master change. These factors are on your side:

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About the Authors

Cliff Oberlin and Jill Powers run the Oberlin Financial Corporation, a brokerage and full-service financial advisory practice.

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