Why Financial Advisers Must Generate Relationship Alpha

Charlotte Beyer, founder and former CEO of the Institute for Private Investors and author or the CFA Institute Research Foundation brief “Relationship Alpha: The Emerging Competitive Advantage in Wealth Management,” explains what relationship alpha is and why it’s important and how advisers can better serve their clients. ____   ► Subscribe to the Take 15 channel here https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g    ►Transcript: https://cfainst.is/2QAbHkV    ►Email us for comments, questions, or appearance requests:Take15podcast@cfainstitute.org ____   Topics discussed: 2:15 Intro: How Charlotte founded the Institute for Private Investors (IPI) 3:56 What has changed in wealth management over the last four decades 7:00 What really works well for advisors? 9:57 Research Foundation brief, Relationship Alpha: what is the relationship alpha and why       should advisees care more about it? 3:18 How do advisors improve their authenticity in a virtual setting? 14:45 How does one measure relationship alpha? And can you train relationship alpha? 18:55 Key takeaways for marketing to prospects  21:38 Work at Wharton and eight components of wealth management chats  25:40 How do advisors distinguish themselves? How can advisors know if the client meeting is being successful? 29:25 Charlotte’s book list  32:25 Wrap-up questions o One long-term change that you hope to see as a result of the pandemic o What one item would you bring on a long space flight? o Flight vs. invisibility? ___   Related articles and links:   Research Foundation Brief: https://www.cfainstitute.org/en/research/foundation/2019/beyer-brief    Link to the CFA Institute research: https://www.cfainstitute.org/-/media/documents/support/membership/value-of-premium-wealth-management.ashx  (The research is cited on footnote #8 on page 19)   That's What She Said: What Men Need to Know (and Women Need to Tell Them) About Working Together by Joanne Lipman   A Wealth of Possibilities: Navigating Family, Money, and Legacy by Ellen Miley Perry    CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/  ____   Find Lauren here:   LinkedIn: https://www.linkedin.com/in/lauren- foster/  Twitter: https://twitter.com/laurenfosternyc    Find Charlotte here: LinkedIn: https://www.linkedin.com/in/charlottebeyer/  Twitter: https://twitter.com/CharlotteBBeyer    Connect with the Research Foundation:  RF Showcase page: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/emhTTi5