Five Ways Advisors Can Balance Product Choice and Due Diligence by Libet Anderson, CIMAÂŽ
As seen on ThinkAdvisor.com July 2019
The onus is on firms to best coordinate the need for choice with processes that ensure that only the most appropriate solutions make it onto their shelves.
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Independent advisors look to their firms to empower their success. This includes everything from providing practice management expertise, to marketing support, to the most modern technology tools, along with a host of other invaluable services. Many, however, would likely say that no consideration is more important than having a reliable menu of investment products. This puts the onus on firms to balance the need for choice with processes that ensure that only the most appropriate solutions make it onto their shelves. Here are some challenges firms typically face when trying to pull off that balancing act and five ways they can best help advisors:
Providing Ongoing Due Diligence Every firm should perform due diligence on the front-end. The more difficult task is carrying out the necessary ongoing due diligence on existing products and investment strategies, which is a never-ending process.
