As marketing gets more sophisticated, successful RIAs will need to rely increasingly on analytics and data usage. Inertia is difficult to overcome because leveraging advanced data analytics is daunting for the uninitiated. But by starting small and taking a measured approach, advisors can have a monumental impact on their firms.
Zohar Swaine is president of Mink Hollow Advisors, a strategy consulting firm serving the C-suite of the wealth management industry. He can be reached at [email protected].