The Easter holidays have come and gone and it’s time to get cracking on shaping your business up. The FP Advance social media channels share content that is indispensable, inspiring and thought-provoking with links from some of the best and brightest in the business world.
Here are some of our most popular finds for April. Well worth a clicking on:
Although written for the American adviser market Bachrach makes three great points that are relevant here:
- Tip One: The future is operating as true fiduciaries – and Bachrach says you can never go wrong taking the high road.
- Tip Two: Focus on the things you can control.
- Tip Three: Be prepared to change your compensation model. The AUM compensation model may be on its way out.
Here’s a really interesting TIME article from Brad Meltzer on what your heroes help you see and understand about yourself; your values and your deepest fears.
I think it certainly has a business application too. Well worth a read.
Alan Smith gives us his views on why he believes the advice market is moving toward flat fees and away from ad valorum (percentage of assets) fees.
If you’re interested in this debate, this is a great piece from Citywire to get you going. I don’t 100% agree with the line of thinking, but I respect Alan and know he put this out there to stimulate industry discussion. Good man.
Every leader knows that they shouldn’t micromanage — even if some of us still do. But while we understand the downsides of micromanaging, we still haven’t sufficiently embraced the upsides of not micromanaging.
Making time for macro questions is not a luxury — it is a necessity. And is it not something that can be delegated or outsourced. Nor is it something that leaders should do only once a year, at the strategy offsite, or at the start of the strategic planning round. It needs to become part of their weekly routine.
Wise words and some great tips on how to do it from Harvard Business Review.
A few countries are experimenting with the concept of a Universal Income (eliminating other forms of welfare) in an attempt to free up human creativity and to give people some dignity.
As technology continues to eliminate jobs at an accelerating rate this is a really interesting area to me. This article from Peter H. Diamandis does a good job of explaining what’s going on in places like Canada, Finland and The Netherlands. Check it out.