“Right now, on our home page, we have evidence of what I think is the most important trend we’re seeing in financial services. It’s not a product launch, or a clever structure or a brilliant way to make money now.
It’s Josh Brown and Barry Ritholtz launching a boutique robo advisor.
It’s not because Brown and Ritholtz are two of the smartest guys in the business (they are), or that they’re masters of new technologies and social media (they are) or even that they’re conservative, ETF-centric wealth managers (they are).
It’s because they’re the way the successful financial advisor of the future adapts.
There is lots of wisdom behind recognizing the significance of that one small word: Adapt.
That is a key insight into our so-called “secret.” The world is constantly changing, and whether its blogging or Twitter or automated software driven planning & management, being able to adapt to change is crucial:
-Investors had to adapt to the Fed’s program of QE.
-Traders have to recognize the latest research on psychology
-Money managers need to recognize the impact of HFT
-Regulators need to understand how rapidly the world is changing
-Politicians need to adapt their outmoded ideologies
-Investors now have to adapt to the end of the Fed’s program of QE.
It doesn’t matter if you are a Finch on the Galapagos Islands, or a broker-dealer, adaptation remains the key determiner as to whether you will survive or go extinct.
Secret Tool For Today’s Financial Advisors
ETF.com October 08, 2014