CLS Investments, LLC, a third party money manager and ETF Strategist, has launched a new practice management program designed to provide tools and resources financial advisors need to better manage and grow their practices.
The CLS AdvisorIQ education series will capture innovative business management, marketing and investment planning strategies through a series of industry reports and white papers. This content will feature various ways advisors can profitably grow their business by presenting examples of successful advisors and their step-by-step approach to winning new business, creating operational efficiencies and enhancing the service they offer to clients.
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"Today’s more volatile and challenging market environment requires a new approach not only to managing portfolios, but also to managing a more complex financial advisory practice," said Todd Clarke, CEO of CLS Investments. "CLS AdvisorIQ helps advisors navigate these pressing issues, particularly as the industry is becoming more competitive, while costs are increasing. Firms that use innovative investing strategies to better position themselves, both for attracting new business as well as gaining efficiencies, will be the ones that continue to succeed."
The first report in the series, "Expand Your Referral Network: Tap Into the $16 Trillion Qualified Plan Market Through Partnerships with TPAs," highlights the opportunity for advisors to target retirement plans by partnering with Third Party Administrators (TPAs).
According to the report: "Leading advisors are expanding their referral network to focus on TPAs, particularly now that the DOL has made recent changes that favor advisors who can bring a fiduciary status to bear. That, combined with new disclosure rules mandated by the DOL means that many plan sponsors are reevaluating their current providers… creating new opportunities for advisors to be considered as alternative providers, particularly if they can offer the plan innovative options, such as ETFs."
According to Clarke, building relationships with TPAs is an excellent way for advisors differentiating themselves through use of ETFs and managed accounts to gain entry to the retirement plan market. "TPAs can provide the experience, knowledge and resources to help advisors get up and running in this market quickly," he noted.
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