Sunday, May 28, 2023

The Energy of Studying and Neighborhood for Monetary Advisors


Do you wish to rework your monetary advisory observe? Enhance your understanding of complicated monetary ideas and funding options? Study modern instruments that will help you function at scale?

Top-of-the-line methods to take action is to attend an business convention or one provided by your advisory agency companion. You’ll hear from main thinkers within the monetary companies house, and you’ll get to attach with a group of your friends in a novel social setting. 

Commonwealth believes within the energy of studying and group. We now have an extended historical past of providing academic—and enjoyable!—conferences to our advisors. And in November 2022, we have been elated to carry our first in-person Nationwide Convention since 2019. Almost 2,000 advisors and their employees, business companions, and residential workplace employees met in San Diego for 4 days of enterprise updates, inspiring keynotes, informative breakout classes, instructive workshops, and particular occasions.

With a theme to “Discover the Good,” our mission was to have a good time the work our attendees do every day to assist their shoppers, colleagues, and communities.

Sharing Our Imaginative and prescient

We all the time have our eye on enhancing the private {and professional} lives of our advisor group, and we’re undoubtedly not ones to relaxation on previous success. We come to the Nationwide Convention ready to share main enterprise updates and initiatives with our advisors, to allow them to be taught the whole lot we’re doing to keep up our independence and assist their development objectives.

This yr, we introduced three main initiatives:

  1. Our aim of reaching $1 trillion in AUM within the subsequent decade, permitting us to extend reinvestment within the agency to learn our advisors

  2. A discount of our platform payment pricing, bringing price financial savings to advisors and their shoppers

  3. An enlargement of our outsourced enterprise options providing, permitting advisors to scale their corporations

Inspiring Private Progress and Change

In fact, no convention can be full with out keynote audio system to thrill and encourage.

On our predominant stage, sharing insights on private development, giving again to the group, and paying it ahead, was Earvin “Magic” Johnson, basketball Corridor of Famer, NBA legend, and entrepreneur. He was joined by Laila Ali, four-time undefeated boxing champ, best-selling writer, mom, and spouse, who talked with our personal Peggy Ho, senior vp, normal counsel, and chief threat officer, in an intimate fireplace chat.

Attendees additionally heard from Mia Hamm, American soccer icon and two-time Olympic gold medalist and World Cup champion, about main groups and galvanizing change in a hearth chat with Andrew Daniels, managing principal, advisor engagement. J.J. Johnson, chief communications officer and government vp of communications, public affairs, and coverage at Constancy Investments, chatted with John Rooney, managing principal of our San Diego workplace.

Rounding out this panel was Robert Mazur, the previous DEA agent who infiltrated Pablo Escobar’s Medellín Cartel. He delivered an enthralling and informative true-life account of his expertise throughout our Anti-Cash Laundering session.

Advancing Advisor Information

Monetary advisors have an incredible quantity of experience, however between operating a enterprise and caring for shoppers, it may be troublesome to remain on prime of the newest merchandise, methods, and instruments. Our deep bench and specialists from the business companion corporations that joined us delivered a complete agenda of classes that aligned with the next three content material pillars:  

  • Evolve: This was all about serving to advisors perceive what they’ll do now to evolve their observe. Adopting an ensemble enterprise mannequin, going fee-only, and utilizing empathy and curiosity to deepen shopper connections have been a number of matters we coated.

  • Develop: Many profitable advisors are centered on rising their companies and their information. Classes included the right way to meet the wants of high-net-worth shoppers, the right way to recruit younger ladies to the business, and the right way to use lead era companies successfully.

  • Circulation: Success usually hinges on with the ability to run an environment friendly observe. We dug into the nuances surrounding complicated merchandise, the right way to leverage Commonwealth’s highly effective expertise platform, and the right way to shield shoppers from cybercrime.

Nurturing Our Neighborhood

In accordance with McKinsey & Firm, 66 % of Gen Z believes “communities are created by causes and pursuits, not by financial backgrounds or academic ranges.” We agree. It’s why our Neighborhood crew, led by Jessica Fougere, senior vp, is targeted on creating microcommunities of advisors centered on enterprise niches, objectives, or private passions.

Our aim is two-fold: we wish to assist advisors really feel a part of one thing greater than themselves. And we wish to permit them to foster and deepen connections by sharing insights and greatest practices. By doing so, we assist elevate the skilled and private development of our group.

The Nationwide Convention was a sandbox for these efforts. We provided alternatives for various teams—chief working officers, members of household practices, next-gen advisors, and Commonwealth ladies advisors—to return collectively and develop relationships that may keep it up lengthy after the convention ends.

Desire a nearer look? View this interactive SlideShare for a glance behind the scenes and find out how inspiration, studying, and group converged at our Nationwide Convention.

The place Will the Future Take You?

Our subsequent Nationwide Convention is already on the calendar for October 11–14, 2023, in Colorado. Will we see you there? Contact us in the present day to be taught whether or not Commonwealth could possibly be the agency companion to energy your observe into the longer term. 


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