The future of financial advisers is bright: TheBureau of Labor Statisticsexpects demand for advisers to grow at a rapid clip as savvier clients search for the best approaches to money management. Of course, becoming a financial adviser involves a significant investment in yourself through education,licensing, and building relationships.
The old saying “you get what you pay for” isn’t always true, especially when it comes to technology applications for the financial services industry. Independent financial advisers shouldn’t automatically dismiss free software as inferior to paid solutions.
As many advisers know, portfolio rebalancing and optimization has many benefits for their clients. Investors’ portfolios can stay on track, reallocated due to changes in goals or risk tolerance, and even save money through tax efficient investment decisions.