Nerd's Eye View blog

Pershing The Latest RIA Custodian To Launch Client Referral Program (And More Of The Latest In Financial #AdvisorTech – February 2026)

February 2, 2026 07:01 am 0 Comments CATEGORY: Technology & Advisor FinTech

Welcome to the February 2026 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

This month's edition kicks off with the news that Pershing has become the latest RIA custodian to announce the launch a client referral program, following closely behind other custodians like Goldman Sachs, Robinhood/TradePMR (who in turn followed Schwab and Fidelity in light of the high demand for their referral programs), which exemplifies the recent trend towards custodial platforms seeking to differentiate themselves with client referrals to the PE-backed mega-RIAs who are willing to pay their substantial cost – even though one notable to exception, Altruist, has managed to achieve significant growth without any client referral program by leaning into its technology capabilities to attract small- and medium-sized RIAs for whom custodial referral programs aren't usually an option anyway.

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including:

BridgeFT, the provider of data connections between RIA custodial platforms and advisor technology tools, has been acquired by iAlta, a startup company co-founded by a co-founder of Envestnet that's aiming to build a unified alternative investment data infrastructure layer – which will help iAlta's alternatives analytics and administration tools plug into the custodians and technology solutions that advisors already use (and could foreshadow more acquisitions to come as iAlta builds an end-to-end alternatives investment management tool)
The tax data startup TaxStatus has introduced a new Tax Return History report that allows advisors to easily compare clients' prior-year tax returns side-by-side, further building out its capabilities for advisors to deepen their understanding of clients' current tax situations – and raising questions about whether TaxStatus will at some point build out more forward-looking planning tools like Holistiplan or FP Alpha, or if it sees enough of uses for clients' prior-year tax data to focus solely on that side of the timeline?
Aquilance and Atomic Insights, two providers of billpay solutions for advisors of UHNW clients, have each announced separate venture capital investments, highlighting how technology could conceivably help bring concierge-style billpay services downmarket as RIAs are increasingly seeking to go upmarket – expanding the overall market for providers serving those firms (though it's debatable exactly how much that market will expand if 'mere' HNW clients simply don't get the value from billpay that UHNW clients do)

Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including:

The advisor workflow automation tool Hubly has announced new integration capabilities with AI tools including Jump, GReminders, and Pulse360, which serves as a reminder that as much is made of AI tools' ability to automate tasks, they aren't necessarily reliable for the kind of highly structured and repeatable workflows that are needed for an advisory firm, and require tools like Hubly to provide that structure for them
Although AI notetaking tools are mostly used for their ability to save time in meeting prep and follow-up, advisors may not want to overlook the tools' ability to gather and report on meta-level meeting data like talk time and sentiment analysis, which can help advisors build their own meeting skills to develop deeper connections with clients (or help advisory firms identify the advisors with those skills so they can aid in training others!)

And be certain to read to the end, where we have provided an update to our popular "Financial AdvisorTech Solutions Map" (and also added the changes to our AdvisorTech Directory) as well!

*To submit a request for inclusion or updates on the Financial Advisor FinTech Solutions Map and AdvisorTech Directory, please share information on the solution at the AdvisorTech Map submission form.

Weekend Reading For Financial Planners (January 31–February 1)

January 30, 2026 02:00 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that CFP Board announced a series of changes to its competency standards. For current CFP professionals, the biggest changes concern Continuing Education (CE), with CFP Boarding increasing the requirement to 40 hours every two years (up from 30 hours), though certificants will be able to count five hours of practice management credit towards this requirement and roll over up to 10 hours to the next cycle if they earn more than needed. Candidates for CFP certification will see changes as well, including to the experience requirement, where those pursuing the 6,000-hour standard pathway will need to show their experience demonstrates at least three of the seven steps of the financial planning process. Notably, these revisions have staggered effective dates in the coming months and into next year, so CFP professionals and candidates alike will have time to adjust to these changes.

Also in industry news this week:

A report finds that while an infusion of private equity dollars has increased valuations for RIAs, internal successions continue to remain viable as firms explore a range of pathways to transfer ownership to the next generation
A pair of surveys finds that while adoption of artificial intelligence tools is increasing amongst advisory firms, it is often done on an ad hoc basis without a strategic approach to how potential time efficiencies gained could be redeployed to improve client service and business performance

From there, we have several articles on investment planning:

While many investors spend significant time and money seeking investment "alpha", the performance of the broader market often has a greater influence on an individual's absolute returns, suggesting that redeploying these resources to other planning areas could have a greater influence on reaching their financial goals
An analysis finds that even if an investor could identify a 'stock-picker's market' in advance, the potential gains from moving away from an index might not be worth the cost of doing so
Why it might be worth paying extra for certain funds if doing so significantly reduces investment frictions or helps an investor stay the course on their chosen investment plan

We also have a number of articles on advisor marketing:

A marketing plan for smaller firms that can allow them to attract their ideal target clients without breaking the bank (or their calendars)
How an advisory firm website refresh can ensure that prospective clients understand what the firm looks like and who it works with today (which might be quite different than when the site was first created)
How advisory firms can accelerate growth by marketing how they are 'different' instead of 'better' than other sources of advice

We wrap up with three final articles, all about social media:

Why the "ultra-processed" nature of social media is different than other forms of content and helps explain why it's so hard to reduce this form of consumption
How LinkedIn has experienced significant growth over the past several years in part by holding strong on requiring participants to use their actual names (reducing the amount of abrasive content on the platform)
Tactics for reducing time spent on social media, from physical changes (e.g., keeping one's smart phone in a particular room when at home) to logistical tweaks (e.g., scheduling a specific time of day to manage one's social media accounts)

Enjoy the 'light' reading!

The 6-Figure Care Decision: Evaluating Continuing Care Retirement Communities (CCRCs) And Other Later-Life Housing Strategies

January 28, 2026 07:02 am 0 Comments CATEGORY: Retirement Planning

When it comes to the decision of where to live in retirement, some clients might assume they will remain in their current home for the duration of their lifetime, while others might quickly gravitate toward a senior-specific living arrangement (e.g., a 55+ living community or a Continuing Care Retirement Community [CCRC]). However, given that the decision of where to live in one's later years also has implications for how they will receive care as they age, this choice can be more complex than it appears on the surface, creating an opportunity for financial advisors to support clients in thinking through the full implications (both financial and lifestyle) of this issue.

In this guest post, Kathleen Rehl – a former financial advisor with significant professional and personal experience in navigating later-life transitions – examines the housing choice issue by shifting the advisor-client conversation from "Which community should we choose?" to the more fundamental question of how housing and care will be delivered, coordinated, and paid for during a client's 70s, 80s, and beyond.

Given the number of later-life housing and care options available, financial advisors can help clients analyze their choices (and the tradeoffs involved) on a variety of factors, both qualitative (e.g., housing stability, care coordination, and social and community infrastructure) and financial (e.g., upfront costs and ongoing cost predictability). For example, a 55+ rental community requires minimal upfront cost but requires the client (or family members) to manage their care coordination, while a CCRC itself handles care transitions, but often at a higher upfront cost.

At a more fundamental level, financial advisors can offer value for their clients by starting this conversation in the first place, at an age (perhaps in the client's late 60s or early 70s) when clients are typically healthier, more financially flexible, and more likely to meet admission criteria than they would be as they approach their 80s or 90s. Given the potential sensitivity of this topic, advisors can help clients prepare for the discussion by introducing the topic gently in a pre-meeting agenda and using a short discovery checklist to surface client values, fears, family dynamics, and tolerance for uncertainty. In addition, by coming to the meeting with data on the estimated costs of local options, advisors can better lay out the financial tradeoffs involved with different later-life housing and care options.

Ultimately, the key point is that because clients might not have thought through the full implications of where they will live and how it affects how they will receive care (and how housing transition decisions will be made as their care needs evolve), financial advisors can play an important role in helping clients think through both the lifestyle and financial implications of different options for their later years. Which could allow clients to maintain their independence, reduce future stress, and make intentional decisions before health issues restrict their options.

Gaining The Skills, Experience, And Team Needed To Serve UHNW Clients Effectively: #FASuccess Ep 474 With Blair duQuesnay

January 27, 2026 07:03 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 474th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Blair duQuesnay. Blair is a lead advisor at Ritholtz Wealth Management, an RIA based in New York, New York, that oversees approximately $6.5 billion in assets under management for 3,900 client households.

What's unique about Blair, though, is how her career has evolved from serving 'traditional' wealth management clients to working with Ultra-High-Net-Worth (UHNW) clients, giving her first-hand experience in understanding the skills, experience, and team needed to make this transition effectively.

In this episode, we talk in-depth about how Blair learned that while she already had much of the 'book' knowledge needed to serve the wealthiest clients (in part by earning the CFP and CFA certifications) putting this knowledge into practice is a particularly time-consuming and high-stakes endeavor, how Blair finds that an attention to detail (particularly when it comes to advanced tax and estate planning opportunities) is a key part of being successful serving this client type, and how Blair has a much more frequent meeting cadence with these clients given the many moving parts in their investment portfolio and cash flow.

We also talk about how Blair and Ritholtz structure their teams to serve ultra-high-net-worth clients (with a lead advisor supported by a "co-pilot" and a client service associate and backed by centralized service support), how Blair finds that while an assets under management-based fee makes sense for most financial planning clients, it's often more appropriate (for both her firm and the client) for ultra-high-net-worth clients to pay a flat fee (that accurately reflects the time and staff needed to meet the client's planning needs), and why Blair is confident she can demonstrate her value proposition for ultra-high-net-worth clients given the broad range of high-value planning recommendations she can offer (which could be worth millions of dollars for these clients and more than outweigh the fees they pay).

And be certain to listen to the end, where Blair shares how she finds that a key differentiator working with ultra-high-net-worth clients is that they are very concerned about avoiding major financial mistakes (as opposed to other clients who might be worried about whether they will be able to support their lifestyle throughout retirement) how Blair finds that the backing of a strong team has helped her overcome the "impostor syndrome" that can arise when working with ultra-high-net-worth clients, and why Blair thinks advisors can find success working with clients up and down the wealth spectrum (with the key being able to identify the types of clients and issues the advisor enjoys working with most and then leaning into that market segment).

So, whether you're interested in learning about what it takes to serve UHNW clients as an advisor, how to build a team to serve this client segment effectively, or the tradeoffs involved with moving 'upmarket', then we hope you enjoy this episode of the Financial Advisor Success podcast, with Blair duQuesnay.

23 Top Financial Advisor Podcasts To Listen To In 2026

January 26, 2026 07:02 am 0 Comments CATEGORY: Personal/Career Development

In a world with no shortage of available content, podcasts stand out for their ability to be consumed at a variety of times, whether commuting in the car, walking the dog, or doing the dishes (all of which are challenging times to read articles or books!). For financial advisors, the ecosystem of available podcasts is strong in both breadth and depth, offering insights on a variety of key topics, from practice management and marketing to more 'technical' topics including investment planning, tax planning, and estate planning. Nonetheless, given that busy financial advisors have many competing priorities, curating a podcast playlist focused on the most relevant content that packs the most punch in terms of practical insights can help listeners get the most out of their listening hours.

With this in mind, we have once again compiled a list of "Top Financial Advisor Podcasts", with a particular focus on how advisors can find the 'right' podcasts that fit their interests and business needs, whether they are aspiring financial planners or managing large enterprises. The podcasts are organized by category (e.g., practice management, investment planning), with each podcast capsule including a description of the type of advisor for whom the podcast is best suited (with the lists themselves in random order within each category, given that advisors will have varying preferences and needs).

Notably, this list highlights podcasts that we believe (based on our own listening!) offer a high signal-to-noise ratio, are tailored to the needs of those who are a part of (or hope to join) the financial advicer community (i.e., those who are in the business of selling their financial advice as opposed to financial products), and are currently active, with regularly published episodes. This year, we are also highlighting several "New and Notable" podcasts that have recently debuted and show promise in terms of value for our advisor audience. Further, because choosing 'top' podcasts is inherently subjective (e.g., a financial advisor might find that they 'click' with the style of one podcast host over another covering a similar topic), we offer a number of podcasts to consider for advisors looking for the right host 'fit' for their needs.

With that introduction, we hope you enjoy our list of 23 'top' podcasts for financial advisors!

Weekend Reading For Financial Planners (January 24–25)

January 23, 2026 02:00 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that an analysis of SEC data by AdvizorPro finds that while total advisor headcount dropped in 2025, the RIA channel saw a net gain of more than 17,000 advisors, with the hybrid channel seeing the largest losses at more than 15,000 advisors. Looking specifically at current advisors changing firms, the data show that while intra-channel moves remain common amongst advisors in the broker-dealer and hybrid channels (though less so at wirehouses), many advisors are gravitating towards the RIA channel (with very few RIA advisors moving away from the channel), suggesting that the draw of greater independence remains strong.

Also in industry news this week:

CFP Board announced that its current COO K. Dane Snowden will succeed Kevin Keller as its CEO, with the new leader taking the reins of a growing organization (which added more than 6,700 certificants last year) that will look to add to its population and strengthen its professional standards as it seeks to ensure that CFP professionals continue to stand out from other sources of financial advice in the eyes of consumers
FINRA has advanced a proposed rule that would eliminate requirements for broker-dealers to supervise unaffiliated RIA activities by its representatives on an ongoing basis

From there, we have several articles on retirement planning:

An analysis assesses which retirement income strategies result in the largest ending value for clients who want to leave large legacy interests (as well as the pros and cons of doing so)
How advisors can support clients by giving them confidence in their chosen retirement income strategy so that clients aren't tempted to take additional defensive measures that could be 'overkill' and reduce their income or overall wealth
8 ways advisors can help clients reduce their worry that they will run out of money in retirement, from insuring against major potential expenses (e.g., long-term care or a major tax increase) to highlighting additional sources of potential liquidity

We also have a number of articles on advisor value:

How human advisors decisively won the 'battle' against robo-advisors and what this might mean for potential competition with AI-powered advice tools in the future
How advisors can play a valuable role by helping clients consider possible life events they might not have previously prepared for, from a period of disability to unexpected lawsuits
While there are more than 100 ways financial advisors can add value for clients, zeroing in on the key services that an advisor's ideal target client needs can allow them to attract good-fit clients without spending additional time mastering less-common planning areas

We wrap up with three final articles, all about work-life balance:

Why the quality of time spent working is often more important than the total number of hours one works in a week
How seeking out more opportunities for pleasure could be a more effective strategy than seeking out the latest productivity 'hacks'
Psychological research suggests that regularly stepping away from the office (even when one is in the middle of a major project) could ultimately lead to greater productivity

Enjoy the 'light' reading!

Why Advisor Succession Plans Fail: Retirement Age Is Peak Advisor Happiness: Kitces & Carl 182

January 22, 2026 07:01 am 0 Comments CATEGORY: Kitces & Carl Podcast

The "succession crisis" is a common point of discussion in the financial advice profession. The succession crisis typically refers to two related issues: a lack of general succession plans (for retirement or emergencies), and owner-advisors retiring at a later than ‘typical' age. The former presents a challenge in the event of emergencies, but can also make retirement itself challenging, given that succession plans can take years to execute effectively. Which leads to the latter challenge: even when advisors have a plan in place, they may not execute it in a timely manner and may retire far later than originally planned.

In this 182nd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss why aging founders may be reluctant to retire… and what younger advisors can do to preserve career momentum. The latest Kitces research on What Actually Contributes To Advisor Wellbeing (2025) provides key insights here: wellbeing and work satisfaction increase with age, which means that in their 60s+, many advisors are at their peak of satisfaction. At this stage, advisors have built deep client relationships, high income, and a rewarding work/life balance. In other words, why would anyone leave when they are maximally satisfied with their work and life?

Yet this dynamic poses a real dilemma for younger advisors seeking to grow. If older advisors have little incentive to exit, how can the next generation gain opportunities to lead? One answer may lie not in forcing succession, but in reframing it. Instead of asking senior advisors to leave, firms can focus on gradual transitions – offloading select clients, creating staged equity pathways, or formalizing ‘elder statesperson' roles that preserve the wisdom and influence of veteran advisors while opening space for new leadership. Just as clients often retire to something rather than from something, the same may apply to advisors; absent a compelling vision for what comes next, many are unlikely to let go of something they love.

Interestingly, the study also found that the happiest advisors are three times more likely to retire than their less-satisfied peers. This may seem counterintuitive, but it points to the role of internal contentment and the concept of ‘enough'. Advisors who are fulfilled by their work and relationships may also be more confident in stepping away when their personal goals have been met – whereas those who chase external metrics like income or firm size may never feel finished. This distinction echoes broader financial planning principles: knowing what's enough, and aligning decisions with core values, is key to a well-lived life and a thoughtful exit. As such, younger advisors may gain more momentum by taking on advisors' least favorite tasks and dimensions of client load. Or, much as they would with clients, advisors may hold a planning meeting to collaboratively brainstorm what the next ten years could look like.

Ultimately, the key point is that succession planning is about more than timeline and ownership… it's also about the deep psychological and emotional dimensions of advisor careers, which tend to be extremely relationship-oriented. As such, advisors may find greater success in planning transitions in roles rather than outright exits. Much like financial planning itself, the most effective transitions come from honest dialogue, aligned incentives, and a shared vision of what comes next – for both clients and advisors alike!

Recommending A Corporate Trustee: Finding One Who Will Serve The Client’s Interests (Without Competing For Client Relationship)

January 21, 2026 07:03 am 0 Comments CATEGORY: Estate Planning, Ethics

Selecting a trustee is a pivotal decision in the creation of an estate plan. Trustees hold title to assets in the trust and can often have great discretion over how trust assets are managed and distributed. No single person is more responsible for ensuring the trust creator's wishes are carried out. And yet, many trust creators give little thought to whom they will designate as a trustee, often defaulting to a close relationship, like a family member. But with potentially complex and delicate family dynamics at play, it can be hard for a family member trustee to make the right decision on the trust's behalf – often to the detriment of both the trust beneficiaries (whose interests might not be best served by a conflicted or easily persuadable trustee) and the trustee themselves (for whom the burden of making all of the decisions on behalf of the trust can be extremely stressful).

As a result, it's often a safer alternative to designate a professional "corporate" trustee instead of naming an individual family member. As a neutral third party, a corporate trustee is often better equipped to manage the sometimes-conflicting interests of trust beneficiaries and make objective decisions on behalf of the trust. Additionally, as a professional institution, a corporate trustee has the experience and knowledge to navigate the legal complexities of trust administration and oversight, which an individual or family member may lack. And while the death, incapacity, or resignation of an individual trustee can throw even more confusion and uncertainty into the situation, a corporate trustee, at least in theory, offers continuity for the entire existence of the trust.

Despite the potential benefits of naming a corporate trustee, financial advisors are sometimes reluctant to recommend their utilization to clients. That's because corporate trustees are typically found in the trust departments of banks and other financial institutions, which often aim (and sometimes outright require) to not only serve as trustee but also as the custodian and investment manager of the trust assets. Which means recommending a client to name a corporate trustee could invite the risk of that trustee wresting away the client relationship from the advisor.

However, not all third-party trustees seek to hold and manage trust assets. A small number of corporate trustees specifically hold themselves out as being "advisor-friendly" and focus solely on the administration of trust assets, allowing them to partner with the advisor (who can continue to manage the trust's investments) rather than competing with them. Additionally, there's a whole ecosystem of smaller boutique professional trustees who work closely with (or sometimes are the same as) the attorneys who draft the original documents and can offer highly personalized and knowledgeable services to trusts with specific or complex needs – again, with no fear that the trustee will seek to usurp the advisor's role of investment manager.

In addition to the selection of the trustee, the trust language itself can affect the continuity of the advisor's relationship with the trust after the death of the client who created it. In a traditional "delegated" trust, the trustee has the sole authority to delegate investment functions – which means they can, at least in theory, name a different investment advisor or impose restrictions that materially alter or disrupt the advisor's investment management process. But when the trust is a "directed" trust, the trust document itself specifies who has authority over investment decisions, rather than leaving it up to the trustee, which may ensure that the advisor's relationship with the trust can endure beyond the death of the original client.

The key point is that advisors can have proactive conversations with clients about trustee selection and the authority that the trust document grants the trustee to make or delegate investment decisions on the trust's behalf. Which in turn enables a discussion to learn more about the client's priorities that can help lead them to an appropriate decision. Because ultimately, it isn't just about the advisor's ability to retain the trust's assets after the client's death – it's about understanding what the client truly wishes to happen once they're gone and no longer able to make decisions on the trust's behalf. Which may not always require the advisor to continue the relationship with the trust and its beneficiaries, but for advisors who do build a deep and lasting client relationship, the client may really want to know how to pass that relationship on to the next generation!

Defending Against AI By Focusing On The Uniquely Human Aspects Of (Fiduciary) Life Planning: #FASuccess Ep 473 With George Kinder

January 20, 2026 07:03 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Welcome everyone! Welcome to the 473rd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is George Kinder. George is the founder of the Kinder Institute of Life Planning, which offers courses that aim to help financial advisors practice a more fiduciary, comprehensive, and client-centered form of financial planning.

What's unique about George, though, is how his life planning concepts not only can help advisors uncover their client's deeper motivations and goals, but also help them offer a level of service that artificial intelligence-powered tools are unlikely to be able to replace.

In this episode, we talk in-depth about how George emphasizes the social nature of financial life planning (as while an AI tool could ask his famous "three questions" and perhaps respond to the client's answers, it couldn't provide the same human-to-human connection that an advisor could), how George emphasizes the importance of listening for financial advisors (including allowing for pauses after client responses rather than immediately moving on to the advisor's next question), and how George finds that a key outcome of the life planning process is the ability for advisors to facilitate a sense of freedom for clients to live their lives as profoundly and richly as possible.

We also talk about George's structured EVOKE process for life planning that begins with an exploration meeting where an advisor might ask a prospect an initial broad question (such as "Why are you here?" or "What would you like to have as an outcome of our meeting together?") and then spend the majority of time in the meeting listening to the response (rather than trying to ask pointed follow-up questions), how George finds that advisors can help clients find their inspiration by working through three key questions (which have them consider what they would want their life to look life if money weren't an object, if they only had five to ten years to live, and if they only had one day to live), and how George's life planning process can help clients identify and overcome perceived obstacles in the way of achieving the vision they establish.

And be certain to listen to the end, where George shares how he is expanding his vision for fiduciary financial advice to the broader corporate world (and internationally), why George is proud of the community that has formed amongst advisors within the life planning movement, and how an extended illness led George to reconsider his own answers to the "three questions" and how he envisions his own legacy.

So, whether you're interested in learning about how (human) advisors can continue to thrive in a world with more advanced AI tools, how the life planning process can strengthen advisor-client relationships, or how fiduciary principles could be applied to the broader business world, then we hope you enjoy this episode of the financial advisor success podcast, with George Kinder.

Creating An Annual Marketing Strategy To Fit Your Firm (And Stop Guessing What To Do Next)

January 19, 2026 07:03 am 0 Comments CATEGORY: Marketing

Great firms need great clients. But to find the right clients, they first need to be able to consistently find viable prospects – which means marketing. Modern-day marketing has nearly endless options – podcasts, webinars, social media, SEO – and firms can attempt nearly all of these tactics to see what sticks. However, the result is often a fragmented plan that attempts to appease everyone, lacks strategic alignment, and is quickly abandoned when early results disappoint. Over time, firms conclude that marketing itself doesn't work, when in fact the failure lies in how marketing decisions are made.

In this article, Kristen Luke, founder of Kaleido Creative Studio, discusses how firms can establish a marketing committee to develop an annual marketing strategy that resonates with its long-term strategy while balancing the firm's constraints of budget and time – ensuring that the firm gets the highest return for its investments.

Marketing decisions can be evaluated through six key filters: client journey stage, implementation capacity, time horizon, quality versus quantity, team preferences, and budget. This framework is designed to align marketing efforts with the advisor team's personalities, who they serve, and what outcomes they're trying to achieve. By defining upfront what the firm will – and won't – do over the next year, leadership can avoid second-guessing or being distracted by new ideas midyear!

From there, a marketing plan can be mapped to the different stages of the prospecting journey: Awareness, Consideration, and Decision. A balanced plan typically emphasizes Awareness to generate new interest, Consideration strategies to nurture prospects, and Decision-stage tactics to help close business. Next, the firm can assess implementation logistics – whether activities are scalable, delegable, or advisor-driven – and determine the appropriate mix based on available time and resources. Among the components to consider are the desired balance between short- and long-term impact, as well as quality (e.g., deep relationship-building) versus quantity (broader reach with more lead filtering). And perhaps most crucially, the team's strengths and interests must align with the selected marketing activities. After all, if marketing strategies align with the team's inclinations and strengths, it is much easier to sustain them in the long term!

Once all these components have been written out, the marketing planning process becomes one of subtraction rather than addition – eliminating entire categories or specific tactics that don't align with the firm's audience, culture, goals, or constraints. Starting with a comprehensive marketing matrix, firms can cross out what doesn't fit and gradually highlight what does, eventually narrowing the list down to a realistic, well-aligned set of activities. Strategic decisions can then be documented in a one-page summary outlining the firm's target audience, marketing goals, and selected tactics, providing a clear reference point throughout the year.

Ultimately, a well-crafted annual marketing strategy serves as a powerful filter, helping firms say yes to the right opportunities and no to distractions. It simplifies planning, improves execution, and creates confidence that marketing is being done with purpose, not guesswork. By shifting from a reactive to an intentional approach, firms can build marketing programs that are not only more effective but also more sustainable – leading to better business development outcomes and a stronger alignment between marketing efforts and firm goals!