RIA Geek Squad

 

The Pandemic has revealed some hidden gems in our established businesses.  Our wealth advisory business will survive as an essential business, but we should add successful services.  This week we will examine the service that saved Best Buy and helped the stock make all-time highs.  How we and our clients could use it as we live a new remote life? The service will cost our business money, but the benefits should offset any costs. 


Nerds

We need to hire experienced professionals to serve on the squad.  Their technical expertise is a given but they must complement their technology knowledge with an empathetic personality.  Most of us have visited an Apple Genius Bar with our “dumb” questions.  The genius always had the answer that was delivered without judgment.  Our nerds need to approach all of our clients using a similar approach.  We need to hire and train more empathetic Nerds.  The gig economy has an answer for us through BrainTrust  


On Site

Another important lesson learned during The Pandemic is that Zoom calls are more difficult than they sound. We need to take our Geek Squad answers to our client’s home. House calls used to work for doctors and they can work for us too. It is human nature to delay, so a RIA Geek Squad house call should help.  


Subscription Pricing

The Best Buy Geek squad isn’t free and neither should the RIA Geek Squad be free.  Our client’s appreciate that they need to pay for quality. A fee structure that has an initial initiation fee with a monthly fee should work. It works for our private clubs and it should work for The Geek Squad.


I’m not only the founder, but I’m also a client of the RIA Geek Squad. This blog will act as your COVID approved reference letter for The Squad. 

Comments

Post a Comment

Popular posts from this blog

Inorganic

Image
Our industry has always looked down on Wall Street’s recruiting checks.  Last week there were numerous announcements that independent firms were offering advisors money to purchase their practice.  The term for these transactions is inorganic growth.  This week we will look at why these transactions are the new rage and examine if they are better than the old Wall Street checks. Wempy Popeye and financial advisors fall for the “I’ll gladly pay pay you tomorrow for a Hamburger today” pitch.  Unfortunately Popeye and and most financial advisors provide their hamburger but seldomly get paid what the firms and Wimpy promise .  Why?  The advisors need the cash and Popeye is gullible.  On Wall Street the deals adjusted when the advisors changed firms looking for a new deal every five to eight years.  The recent Luminous departure shows that the advisory contracts need to be adjusted.  The new contracts are written by experienced firm...
Read more

Career Hacks

Image
We are in constant pursuit to be the best we can be in our profession.  Is there a hack to help us?  Some days it feels like others have found one.  The Baby Boomer hack was to be a Doctor, a Lawyer or work for Goldman Sachs.  Millennials believe in the power of social media hacks and that a job at Google is on the Yellow Brick Road.  This week I’ll look at other experts and share my opinion that there isn’t an easy solution to professional success. Academia Those who  can’t do teach and those who can’t teach, teach gym .  Many of the established ideas that guide people in the wealth advisory business where researched in academia.  While their research is credible most academics remain as advisors not a practitioners.   William Sharpe  might be an exception to this rule.  He lost at Long Term Capital but was a recent  winner with Financial Engines .  Resilient and richer. Conferences and Media We...
Read more

Heigh Ho

Image
 It appears we are headed back to work. Our monthly podcast summary will give us items to put in our backpacks.  So Heigh Ho ! Business Consulting  Adam Grant teaches how to  not make work suck. Work Life These two industry icons share their different opinions for independent wealth advisors. Kices and Carl Reid Hoffman is one of the most successful entrepreneurs who believes in giving back. Masters of Scale Educational  This podcast will entertain and educate. Pivot The host is a law professor who shares insight on controversial issues. Deep Background  While I don’t prefer Houston, this podcast makes me want to visit and attend class. Unlocking Us Hope you all listen to the podcasts and get vaccinated. 
Read more