One of the challenges in our industry, any industry for that matter, is the constant change. It seems that we are continually in the midst of a major change in our business. Right now, you can point to the evolving new digital platforms or the continual regulatory overhaul.
Many advisors that I speak with are constantly talking about how these changes are happening to the advisory business and the challenge that these changes pose. Sometimes the immediate reaction is to fight back at the change and what is happening to our industry. I want to challenge you to think differently. What if it was just the future that was happening to our business? Should we fight the future? There are so many instances of companies who tried to fight the future and failed because they couldn’t adapt.
Similar to the idea that Amazon didn’t happen to the retail business, the future happened to the retail business. The DOL or Roboadvice is not happening to our business, the future is happening to our business. Are you ready to adapt to it?