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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

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Create Account to manage your assets on the Jefferson National Account Management website.

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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

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Finding Innovation in Fee Based Trends

As part of their “30-30 series,” Financial Planning published an article written by Jefferson National’s CEO, Mitch Caplan. Financial Planning’s “30-30 series” focuses on ways advisors can upgrade their practice.

“The advisory industry has been evolving and two trends are clear: The future is fee-based and advisors are tech-obsessed. And where these two trends intersect, innovation happens,” according to Mr. Caplan. 

As the DOL fiduciary ruling heightens the demand to serve clients with greater transparency and greater value, Mr. Caplan predicts the next big debate in the years ahead will revolve around this fundamental question: How can technology help create value for your practice while also helping you serve your client’s best interest and maintain a fiduciary standard?

To help answer his question, Mr. Caplan highlights quotes from a conversation with Justin Young, CEO of BCJ Financial Group, an RIA firm which split off from AXA in 2015, and now serves over 700 clients with more $500 million in AUM:

“Going independent was the right choice for our firm. And there was no way to make the move without investing in technology,” says Young, “Technology has transformed our business operations by driving efficiencies, increasing revenue, and enhancing profits… From our perspective, there is no question that combining unbiased human advice with smart technology can result in better client outcomes.”

Mr. Caplan also includes insights from Kenny Landgraf, President and Chief Investment Officer of Kenjol Capital Management, a fee-only RIA firm providing services primarily to affluent and high-net-worth individuals and institutions:

“Technology can complement your practice, but it’s no replacement for financial advice. As clients build more assets, as their situation becomes more complex, they will want to work with an advisor.” Landgraf concludes, “In the end, people still want to talk to people.”

Read the full article, here