8 Steps to Building a Thriving RIA Business

“Building and maintaining a thriving financial advisory firm” is especially challenging in the current “disruptive environment,” according to Ryan George, chief marketing officer at the fintech firm Docupace.

“Maximizing scalability, delivering differentiated client experience” and attracting top talent to an RIA firm all require “strategic focus” and the adoption of “transformative” technology, George said during the Docupace-sponsored webinar “RIA Megatrends: Catalysts for Disruption, Differentiation and Dominance” on Wednesday.

The advisory firm executives who spoke during the webinar — Shannon Spotswood, president of RFG Advisory; Dan Wanous, business development officer for Thrivent Advisor Network; and Rob Sandrew, chief growth officer at Integrated Partners — are doing all those things and they’re thriving, according to George.

Quoting artificial intelligence pioneer Dave Waters, George, started off the webinar by saying: “If a company isn’t continuously improving then it’s slowly dying.”

Here are eight steps RIAs can take to build their businesses, according to the panelists.