Tag: growth

Strength in Members: How a Well-Curated Advisor Network Drives Growth and Empowers Advisors in Today’s Environment

Advisors’ worlds have been completely revolutionized within the past two years, as they’ve navigated shifting terrain in the regulatory landscape, managed a transition to remote work and subsequent return to the office, and faced mounting pressure from clients concerned about the ongoing coronavirus pandemic.

These changes have prompted many advisors to reevaluate their businesses and approach to the profession, especially regarding where they seek support. Many advisors are turning to advisor networks ― groups of like-minded advisors coming together to achieve a common goal ― in their pursuit of ongoing business growth and personal development.

Great Valley Advisor Group (GVA) is anchored by a culture of connectivity most readily seen through our advisor network. We have thoughtfully designed a model that allows our advisors to operate independently while still being part of a larger team, surrounded by the knowledge and insight of other advisors. As advisors look to the future and seek avenues for continued growth, aligning with a network presents an appealing opportunity.

Cornerstones of the GVA Advisor Network

GVA’s strategically designed, well-curated advisor network drives success and provides a supportive and productive community for members, based on four cornerstones:

  1. Transparency with our partners: We pride ourselves on our commitment to communication with advisors. This means initiating an open dialogue and maintaining candid conversations around what is or isn’t working, where specifically they need more support and how our team can do more to propel their success. These conversations must be frank, and rely on our leaders and advisors coming together, but the resulting transparency and corresponding experience are unmatched.
  1. Facilitating strong advisor relationships: The strength of the GVA network doesn’t come from the top, but from within. We look to our advisors, themselves, to help advance the network as a whole by engaging with fellow advisors, learning from one another and sharing experiences and advice along the way. Advisors who join the GVA network need to be willing to have these types of conversations, and those who engage at this level truly flourish.
  1. Making a consistent and considerable investment in tools: GVA’s business model is built on a foundation of technology and innovation. From day one, our leadership team recognized the importance of implementing strong technology systems, as well as comprehensive tools and resources, and the impact this makes on advancing an advisor’s practice. GVA network advisors gain immediate access to our dynamic technology stack and robust solutions to support their growth.
  1. Providing ongoing support aimed at advisor practice growth: Our work with advisors extends well beyond technology and related tools. We identify their areas of need and how they want to grow, and then implement targeted support and solutions. Our M&A team is a great example of this philosophy in action. Our advisors are entrepreneurs who seek to grow their businesses, and the M&A team offers a clear path forward for such inorganic growth, providing insight on the acquisition process, preparing relevant documentation and information, reviewing deals and more.


A Near- and Long-Term Plan for Growth

The strength of the GVA network lies in our ability to consistently adapt to the changing environment. Our primary goal is to empower advisor growth, and we feel strongly that a well-curated network of advisors is the best way to do that.

Advisors who join our network realize immediate benefits, coupled with longer-term advantages. The network provides a centralized platform yielding high levels of efficiency that advisors cannot leverage elsewhere. The suite of technology and resources they need to create an immediate impact on the business and streamline operations are available at their fingertips.

From a broader perspective, the network’s focus is strengthening our partnerships with advisors and creating the connectivity they need to thrive. We provide resources and the advisors offer insight, innovation and growth to the platform. We strive to continue enhancing our offerings to advisors within the network and realize that both parties add structure as we grow. We select advisors who are innovative in nature and maintain a similar philosophy and outlook on the business landscape.

The feature we plan to implement in the near future is small advisor forums within the larger network, creating connections among advisors facing common challenges or seeking to uncover similar opportunities within their businesses. We are using these as a springboard for stronger relationships within the network and to share valuable insights into where our advisors are taking their practices, so we can add new solutions and services.

Finding Your Network Match

For growth-oriented advisors, finding the right network to align with can make a significant impact on your business. The right network partner is one that shares your values and communication style but celebrates diversity among its community. Diversity in opinion, focus and life experiences will drive a stronger network and add significantly more value for the advisors.

Every advisor who joins the GVA network shares our larger vision and goals for the future. The growth of the company is only as strong as its core, and our advisors are the core of everything we do.

For more insight on GVA and the power our network provides to advisors, schedule a call with us. Connect with us on LinkedIn and Facebook for our latest insights and team updates.

Don’t Be Afraid of the Stack – GVA’s Simple Steps to Growth Through Technology

Technology continues to dominate the conversation around advisor growth strategies, and the ability to leverage it as a growth tool remains an important focus for the future. Technology is my passion, and I have always been keenly focused on its role in helping businesses grow and adapt, as well as its ability to revolutionize how we approach our daily lives.

This has become even more apparent within the last year, as more advisors shifted to remote work and more firms were forced to invest in tech to keep business activities consistent. In fact, the TD Ameritrade RIA Sentiment Survey found that RIAs were investing more in technology than planned because of the pandemic, with 33% of firms upgrading tech capabilities because of the shifting workplace needs.

The last year has opened advisors’ eyes to the role technology plays in their practice and its ability to amplify impact or harness growth. Here at GVA, we have always placed a high priority on technology, leveraging it to improve how we work as a team and with the advisors aligned with us. This focus has been instrumental in our growth and ability to partner with advisors from across the country.

Technology is non-negotiable for sustained growth

While advisors know they must embrace technology in today’s world, it can be difficult to know where to start. I recommend assessing your current tech stack and examining what is working, what is being actively utilized by the team and how your practice is benefiting.

Once you have an idea of your baseline, you can begin shopping for other technology assets. There are two silos of technology: 1) tech you need and 2) tech that can help grow your business. The first category includes the basics, like your custodial platform, CRM system and other specific tools — the technology that helps you run your business efficiently. The second category involves the technology you need to grow and that empowers you to focus on specialties — the tech that gives you the “disruption factor” that will create real change.

Technology should allow you to streamline tasks, establish workflows and work smarter. When used correctly, technology can propel your practice to new heights. If your current technology package is not meeting these goals, it may be time to reevaluate how you are implementing tech into your work.

Leveraging technology for our advisors via open architecture

GVA is 100% technology-driven. We have put a very robust technology structure in place with elements that support growth. We have partnered with Align Cybersecurity to design cybersecurity policies and procedures. We offer Valor Asset Management, a comprehensive and technology-supported asset management platform; as well as AdvisorBOB, our dynamic advisor compensation software. We have worked to customize Salesforce for our team’s benefit, with specialized workflows, processes, automation and more to streamline activities and allow more time for business-building efforts. We are currently building our GVA Gateway, which will function as an intranet for our advisors to connect, share ideas and collaborate, as well as a centralized portal with the resources and tools they need to succeed.

We feel confident that we have the right tools and resources in place, and we have designed an open-architecture structure with our technology, allowing firms who align with us to opt to continue using their preferred technology platforms after joining us. They will gain access to our suite of solutions but it is up to them whether or not they use it. We view this is an excellent opportunity for our advisors to leverage what we have built to whatever extent they desire.

How technology has revolutionized GVA’s approach

Our focus on technology has been intentional and supports our larger approach to working with advisors. Our goal is to help advisors up-level their practices, as well as provide them with the tools and resources they need to grow their firms and meet their long-term objectives.

The technology we have in place is attractive to our advisor partners, but also allows us to collaborate with them in a better and more meaningful way, effectively elevating the conversation from surface-level to an in-depth and actionable discussion. We can quickly view and publish reports and benchmarks against similar advisors, and we have more visibility into our partners’ businesses so we can understand their challenges and trends. This allows us to explore challenges and create solutions in real time, connect them with other advisors who have faced similar challenges and collaborate in a way that makes everyone better. My colleagues and I can give real advice, outlining specific tools that will work for you and more. We are solely focused on helping you grow your business.

As technology becomes more central to our lives, it’s impossible to ignore the implications it can have on your practice. Technology is nothing if you don’t have anyone using it — and doing so to its full potential. We view it as one of the best tools available to meeting your short- and long-term goals and facilitating meaningful connections. For more insight on the technology we employ to improve workflows and empower advisor growth, and how we can help you leverage technology to grow your practice, schedule a call with us. Connect with us on LinkedIn and Facebook for our latest insights and team updates.