THE WEALTH BUSINESS – PART ONE

September 11, 2024Posted inUncategorized, Wealth Management
Last week, our forum season started with the CFO group. One topic that was of interest to all was the wealth business. It’s a fee-income business with outstanding customer loyalty (average attrition is only 5%, and many enjoy a 2-3% attrition). It is subject to market vagaries, which is unfortunate, but overall, it can be very attractive. Unfortunately, the business has a few major problems: ·                     Most strong wealth advisors are poor salespeople, so organic growth…

Executing a Growth Strategy

August 28, 2024Posted inStrategy
There is universal agreement that growth companies generally get the best multiples from the investment community, whether in financial services or elsewhere. While a lift out of a talented group of bankers will give you a growth spurt, it is the elusive, consistent growth everyone seeks. Is there a process or a system you can build into your thinking and management process to increase the likelihood of growth meaningfully? Analysis shows that there must be…

Financials Strategy – Macroeconomic Expectations Recent Bank Earnings Guidance & Outlook

August 14, 2024Posted inStrategy
Robert Albertson’s most recent piece brings him back to his roots - he is a bear at heart. I can see his point, though. Beyond the charts and numbers, public sentiment has turned even more negative than in the past year. In addition, public behavior - consumer and business alike - has changed markedly. Spending is down across the board, open jobs are down dramatically, and unemployment is up meaningfully as well. Major metro market…