The Energy of Studying and Neighborhood for Monetary Advisors

Do you need to remodel your monetary advisory observe? Enhance your understanding of complicated monetary ideas and funding options? Study modern instruments that will help you function at scale?

Among the finest methods to take action is to attend an trade convention or one provided by your advisory agency accomplice. You’ll hear from main thinkers within the monetary companies area, and you’ll get to attach with a group of your friends in a singular social setting. 

Commonwealth believes within the energy of studying and group. We have now an extended historical past of providing instructional—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 workers, trade companions, and residential workplace workers 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 have fun the work our attendees do every day to help their shoppers, 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 group, and we’re positively 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 all the things we’re doing to take care of our independence and help their progress objectives.

This yr, we introduced three main initiatives:

1. Our purpose 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 payment pricing, bringing value financial savings to advisors and their shoppers

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

Inspiring Private Development and Change

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

On our essential stage, sharing insights on private progress, giving again to the group, 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 creator, mom, and spouse, who talked with our personal Peggy Ho, senior vp, normal counsel, and chief threat officer, in an intimate hearth 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 fireplace 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 Data

Monetary advisors have an amazing quantity of experience, however between working a enterprise and caring for shoppers, it may be troublesome to remain on prime of the newest merchandise, methods, and instruments. Our deep bench and specialists from the trade accomplice 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 observe. Adopting an ensemble enterprise mannequin, going fee-only, and utilizing empathy and curiosity to deepen shopper connections had been just a few matters we coated.

• Develop: Many profitable advisors are centered on rising their companies and their data. Periods included the right way to meet the wants of high-net-worth shoppers, the right way to recruit younger ladies to the trade, and the right way to use lead technology companies successfully.

• Circulation: Success typically hinges on with the ability to run an environment friendly observe. We dug into the nuances surrounding complicated merchandise, the right way to leverage Commonwealth’s highly effective know-how platform, and the right way to shield shoppers from cybercrime.

Nurturing Our Neighborhood

In keeping with McKinsey & Firm, 66 p.c of Gen Z believes “communities are created by causes and pursuits, not by financial backgrounds or instructional ranges.” We agree. It’s why our Neighborhood workforce, led by Jessica Fougere, senior vp, is targeted on growing microcommunities of advisors centered on enterprise niches, objectives, or private passions.

Our purpose is two-fold: we need to assist advisors really feel a part of one thing greater than themselves. And we need 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 group.

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 ladies advisors—to come back collectively and develop relationships that can keep it up lengthy after the convention ends.

Need a nearer look? View this interactive SlideShare for a glance behind the scenes and learn the way inspiration, studying, and group 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 might be the agency accomplice to energy your observe into the longer term.