Obvious and Boring Everyone wants to gain a performance advantage by placing bets based on smart-factors, data-driven algorithms or macro-calls that purport to predict the future. It’s certainly fun and intellectually stimulating to do this and you feel so smart when your bets pay off. We think there are more productive, albeit boring, ways to … Read More
Welcome to “The Summit,” the official First Ascent blog. If you’re looking for ways to build your practice, investment insights, or advice on how to communicate more effectively with clients and potential clients, then you’ve come to the right place. Every week we post something new that we’ve discovered or share an idea that we find interesting. We hope you will, too.
On the eve of the enactment of the DOL Fiduciary rule, I find myself scratching my head at the reactions of some leading financial services firms. Several of the largest brokerage firms have begun responding to the DOL Fiduciary Rule in mind-boggling ways. Some firms banned commissions in retirement accounts, and then some back-tracked. Others … Read More
Every advisor would like to snap their fingers and have their clients behave like more rational, patient investors. While the idea that clients are prone to bad investing behavior is not new, one of the primary challenges for financial advisors – and one of the greatest values they provide – is practically applying behavioral finance … Read More
The secret to making a good video for your practice. So, you’re thinking about making a video for your practice. Well, good news. You’re on the right track. Video is one of the best ways to boost conversions and improve client engagement. But all videos are not created equal. In fact, a poorly done video … Read More
We Are Exuberantly Rational As you know, First Ascent provides portfolio management services to financial advisors for a flat fee of $500 regardless of account size. Recent discussions of different fee structures in the press present the issue as though there is a right and a wrong fee structure. Our adoption of flat fees does … Read More
Fees are a primary consideration here at First Ascent. You’ve probably heard of our flat portfolio management fee, which is the first of its kind that we know of. Beyond that, we are always focused on managing the transaction costs and internal expenses of our portfolios. While we believe a penny saved is a penny … Read More
What do clients really need from you? Do they need your alpha potential, your superior stock-picking skills, or your heavy-lifting on fund strategies? Maybe. And certainly, no client is going to complain when you beat the market (as long as you can do it again). But there may be some things you can do for … Read More