Financial advisors who want to keep up in the financial industry should also have an eye on new innovations that could enhance their businesses and maximize firm efficiency.

“I think the best recommendation is buy some software because that’s clearly where it’s going. The opportunities there – and maybe not think of it so much as a cost but more as an investment – and move it away from your P&L, away from, you know, an operating cost that’s going to lower your income to investment in your accelerated growth,” Tim Welsh, President at Nexus Strategy, said at the Charles Schwab IMPACT 2018 conference.

Welsh pointed out that it is never too late to embrace the technology available for financial advisors to hone their business strategies.

Nexus Strategy is a boutique consulting firm that provides end-to-end, comprehensive consulting services, advice, and project management. Through their network industry professionals, consultants and advisors, Nexus Strategy is positioned to provide the expertise for strategic marketing advice, industry content development, public relations strategy and conference strategy.

“Nexus Strategy specializes in developing content, research and commentary on the issues impacting the wealth management industry,” according to Nexus Strategy.

For more ETF-related commentary from Tom Lydon and other industry experts, visit our video category.

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