Over the past two weeks I have been a Faculty Fellow at the Pacific Coast Banking School, the premier graduate school of banking, held at the University of Washington. It is energizing and humbling to be surrounded by so many talented students and faculty members. At last night’s keynote address, U.S. Bancorp CEO, President and […]
Leadership
Lessons from a New Entrepreneur
One of the hidden benefits of mentoring others is that you usually learn something too. I am glad to have helped a young entrepreneur, and I suggest keeping track of whatever he starts…
Wealth Management 3.0 Is Here– Are You Ready? (Part 3 of 3)
Over the past couple of posts we took a fairly irreverent whirlwind tour through the last 150+ years of those financial services oriented specifically towards helping successful families grow, protect and share their wealth– the very essence of wealth management. [See Wealth Management 1.0 (1853-1982) and Wealth Management 2.0 (1982-2008)] Today we will bring this […]
Wealth Management 3.0 Is Here– Are You Ready? (Part 2 of 3)
Last week in Wealth Management 1.0, we explored the origins of the wealth management business in America. As in that post, I will again disclaim any notion of deep academic research and thorough economic analysis in favor of getting to the point. The most important formula in banking used to be the 3-6-3 rule. Bankers brought in […]
Wealth Management 3.0 Is Here– Are You Ready? (Part 1 of 3)
Most banks today have wealth management clients with an average age somewhere between 70 and dead (no offense, Mom). Their books of business were largely built in bygone eras, from fortunes made in companies and industries that no longer exist. These clients (and many of their advisors) are really not sure about this whole “interweb” […]
The Valley of Despair and the Exodus of Talent
In my June 14 post Banker Jones and the Last Crusade: Is Wealth Management the New Holy Grail? I examined the current trend of banks seeking greener post-Dodd Frank pastures by pursuing new wealth management initiatives. In Ocean’s 14, I’m sure they’ll call this running a reverse Willie Sutton. Sutton, of course, was the man who robbed […]
Banker Jones and the Last Crusade: Is Wealth Management the New Holy Grail?
In my June 6 post 9 of 10 Banks Are Mulling an Overhaul I linked to the American Banker article that cited the findings from a KPMG study that also said: “Forty percent of the respondents said that asset and wealth management would be essential to expand revenue over the next few years.” But another […]
5 Tips to Find True Innovators | Inc.com
The Keys to Hiring Effective Innovators 1. Intellectually Restless: Great innovators get a thrill out of defining a bold vision and then wrestling with the data, insights, barriers, and opportunities to unlock what needs to be true to get there. 2. Inspiring Rather Than Convincing: Applicants who come from traditional consulting are often proficient at […]