“The leading indicator of success for top firms is strategic planning,” he added. “Differentiation is more important now than ever and the fastest growing firms are doing that.”
Some of the value services added by advisory firms that help differentiate them were charitable giving services, family education services and lifestyle management.
“The most successful firms are focusing their ability to appeal to and meet the needs of their ideal clients,” Beatty said, “and they deliver their message to clients and prospects through strategic communication channels. With the success of this industry comes more competition, and the firms that thrive are those that effectively amplify their brands, invest in their people, focus on best practices and deploy the right technology to drive operational excellence and an optimal client experience.”