Insights | 06.23.21
ICYMI: Catch Up on the Latest
A look back at some of the top trending tips, leadership, and industry insights from Portfolio over the last year.
1. Podcast: Special 2020 Wrap-up Episode
In this special extended 2020 wrap-up episode Scott Stathis and Bob Mittel discuss the road ahead with Paul Haines of Middleburg Financial/Atlantic Union Bank, Richard Marsh of M&T Securities, and Chris Melton of Ameriprise.
In addition to where trends are leading us, this BISA Industry TrendWatch podcast episode includes how financial planning strategies are driving business growth, a focus on growing existing books of business, how advisory business is re-defining our channel, thoughts on the evolution of fee-for-service models, and the thinking behind transitioning from running your own broker-dealer to leveraging a third-party broker dealer to enable a focus on core competencies.
2. BISA and Kehrer Bielan Release Second Phase of Research
BISA has released part two of a cutting-edge research report that explores the role of investment services in maintaining or growing deposits and lending and investment services penetration of the mass affluent, and its relationship to the institution’s mass affluent strategy.
The study, Smart Investment 2: How Investment Services Drives Growth of Banking Services, Supporting A Mass Affluent Strategy, complements part one of the report (Smart Investment: Evaluating the Total Return on Investment Services to the Banking Enterprise), which was released in November 2019.
BISA commissioned Kehrer Bielan to survey depository member institutions about the extent to which investment services disintermediate deposits, and successfully refer clients to the institution for deposits and loans.
3. Portfolio Podcast Episode 4: What's Next for BISA
"I think we all adapted incredibly well, and really tried to put our heads together on what we could do to help our members get through this," said Consalo.
Listen as the group discusses the difficult decisions BISA's leadership team has had to overcome over the last year and a look forward to the biggest opportunities for the association post-pandemic.
Listen to more episodes from the BISA Podcast here.
4. Engaging Advisors to Utilize Financial Planning Software
Financial planning software has come a long way over the years, driven by industry-shifting events like DOL, COVID-19, and Reg BI. How can we transition from selling products to providing financial advice and engage clients to utilize financial planning? How can financial planning impact customer service? Can financial planning help clients during COVID-19? And most importantly, how can we increase advisor adoption of financial planning software?
5. Thayer Leadership Program: Leading the Path to Excellence
The ability to effectively lead a team is more important now than ever, with ever-changing work environments and team needs. BISA has teamed up with Thayer Leadership at West Point to offer a new and unique virtual leadership development program. The Thayer Leadership program provides a cohort-based, digital environment for participants to engage in a series of virtual learning opportunities designed to elevate their leadership ability and impact. BISA spoke to some of the program’s attendees as the event kicked off in January to find out what they are most looking forward to as the program continues.
“Perspective, insight, and experience” is what Daniel Pellegrino of Webster Investments finds valuable. “I look forward to sharing and hearing ideas. Anytime a high-quality institution pulls together leaders from around the country, great things can happen.”
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