Rethink. Financial Advice20 Mar 2024

Financial Advice in the convenience economy featuring Jamie Hopkins

What is the convenience economy and why should advisors care?

Advisors used to focus on the client experience but that has changed recently as the consumer is more concerned about convenience over experience. People love convenience, where it’s what movie to watch on Netflix or ordering a coffee on your phone, people want and seek out convenience in all aspects of their life. So naturally people will look for a convenient experience when it comes to their money. Join us as we explore this topic and many more with our friend, fellow REBL Dad, and industry expert Jamie Hopkins.

In this episode Jamie, Adam and Derek chat about:

Who’s going to come out ahead given the current convergence in our industry?
Advisors are not unique. What are their differentiated services & value adds?
3 Biggest needs the client is looking for: tax planning - Bill Harris (Ep. 59), estate planning with trust services, bank services)
You need to know what your clients want & need.
Wallet Share is not really known by advisors despite their confidence
Convenience economy over experience economy
RIAs should not try to solve ALL problems/needs - do it, buy it, outsource it
Digital assets conversation - value add
And lots more!

Resources:

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