The Energy of Studying and Neighborhood for Monetary Advisors

Do you wish to rework your monetary advisory apply? Enhance your understanding of advanced monetary ideas and funding options? Find out about modern instruments that can assist you function at scale?

Among the finest methods to take action is to attend an trade 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 neighborhood of your friends in a singular social setting. 

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

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

Sharing Our Imaginative and prescient

We all the time have our eye on enhancing the non-public {and professional} lives of our advisor neighborhood, 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 study every thing we’re doing to keep up our independence and assist their progress targets.

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 profit our advisors

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

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

Inspiring Private Progress and Change

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

On our major stage, sharing insights on private progress, giving again to the neighborhood, 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, common counsel, and chief danger 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 govt 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 amazing quantity of experience, however between working a enterprise and caring for purchasers, it may be troublesome to remain on high of the most recent merchandise, methods, and instruments. Our deep bench and consultants from the trade companion corporations that joined us delivered a complete agenda of periods that aligned with the next three content material pillars:  

  • Evolve: This was all about serving to advisors perceive what they will do now to evolve their apply. Adopting an ensemble enterprise mannequin, going fee-only, and utilizing empathy and curiosity to deepen shopper connections had been just a few subjects we coated.

  • Develop: Many profitable advisors are targeted on rising their companies and their information. Classes included tips on how to meet the wants of high-net-worth purchasers, tips on how to recruit younger girls to the trade, and tips on how to use lead era companies successfully.

  • Circulate: Success typically hinges on having the ability to run an environment friendly apply. We dug into the nuances surrounding advanced merchandise, tips on how to leverage Commonwealth’s highly effective know-how platform, and tips on how to shield purchasers from cybercrime.

Nurturing Our Neighborhood

In response to McKinsey & Firm, 66 p.c 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 growing microcommunities of advisors centered on enterprise niches, targets, 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 enable them to foster and deepen connections by sharing insights and greatest practices. By doing so, we assist elevate the skilled and private progress of our neighborhood.

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 girls advisors—to return collectively and develop relationships that can keep it up lengthy after the convention ends.

Desire a nearer look? View this interactive SlideShare for a glance behind the scenes and learn the way inspiration, studying, and neighborhood 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 at this time to study whether or not Commonwealth could possibly be the agency companion to energy your apply into the longer term. 

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