Today’s market conditions have financial advisors searching for greater diversification, a more adaptive investment approach and ways to meet the changing lifestyle needs of their clients.
What worked 20 years ago won’t work going forward. The industry is shifting. It is shifting from sales to service, shifting from a suitability to a fiduciary standard and shifting from products to advice.
Now is the time to shift your business and transition to a fee-based structure. Switching to a fee-based business affords you and your clients many benefits. It allows you to:
Reduce Investment Risk
Your 12b-1 and commission business may not deliver the desired level of diversification or be adaptive enough to appropriately manage client risks. Bellatore gives you access to the professionals, investment strategies and communication tools necessary to manage risk for today and tomorrow. From overlap analysis to stress testing, we help you with the needed risk management and diversification to properly manage investments.
Deepen Client Relationships
By shifting your mindset from being a product salesperson to being a professional service provider, you can unlock wealth planning and management opportunities by looking at all aspects of a client’s financial life. Along with a mindset change, a service change is required to reach new heights. Bellatore gives you the tools and techniques required to help enhance your wealth management services and open the door to greater success.
Increase Strategy Implementation
Managing a commission and 12b-1 business comes with a high level of administrative burdens. In addition, reacting to market events and planning for client distribution needs are time consuming and inefficient. To relieve you of these inefficiencies, Bellatore helps you manage your client accounts in a coordinated fashion. By freeing you of trading, due diligence and cash management, you can focus on delivering greater service and growing your financial advisory business.
Get Paid For The Work You Do
Commissions are inconsistent and many 12b-1 rates don’t compensate you properly for the time it takes to service and manage client relationships. A transition to a fee-based business gives you greater control of what and how you charge for your wealth management services. Bellatore can help you offer the services required for managing a fee-based business and give you the flexibility to get paid properly for your time.
Build Value In Your Business
A move to a fee-based business requires more than just applying a management fee; it’s about establishing a business focused on service to meet specific client needs. Bellatore can help turn your existing clients into advocates and a source of ongoing referrals. Additionally, getting paid what you are worth not only helps your recurring revenue it also directly increases the value of your financial advisory firm.