Unleashing Potential: Why Capacity is an Advisor’s Biggest Competitive Advantage
The episode is aimed at advisors thinking about organic growth, operating model and where their time goes. It also covers outsourcing investment management and AI use in client meetings, both of which bear on how an advisory firm is run.
Summary
By the running an ria deskJason Diamond speaks with AssetMark CEO and President Michael Kim about why advisor growth depends on creating capacity. Kim discusses where advisors spend their time, what they delegate or outsource, and how technology and AI may add leverage. The conversation draws on AssetMark’s work with more than 12,000 independent financial advisors and its Annual Impact of Outsourcing Survey.
- Kim argues that advisors can do almost anything but cannot do everything, so sustainable growth requires deciding where they create the greatest value.
- AssetMark’s Annual Impact of Outsourcing Survey finds that advisors who outsource gain more than nine hours per week, according to Kim.
- Kim says clients increasingly value the advisor, not simply the portfolio, and want guidance on taxes, wealth transfer, estate planning and business decisions.
- Kim sees AI’s opportunity in two areas: productivity and experience, citing AssetMark’s developing Talk Tracks capability for preparing talking points and planning opportunities before client meetings.
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