Monday, September 25, 2023

The power of learning and community for financial advisors -Dlight News

Do you want to transform your financial advisory practice? Improve your understanding of complex financial concepts and investment solutions? Learn more about state-of-the-art tools to help you work at scale?

One of the best ways to do this is to attend an industry conference or a conference hosted by your consulting partner. You will hear from leading thinkers in the financial services space, And You can connect with a community of your peers in a unique social setting.

Commonwealth believes in the power of learning and community. We have long offered our consultants educational and entertaining conferences. And in November 2022, we were delighted to hold our first in-person national conference since 2019. Nearly 2,000 consultants and their employees, industry partners and remote workers converged in San Diego for four days of business updates, inspirational keynotes and informative breakout sessions, educational workshops and special events.

Under the motto Find the Good, our mission was to celebrate the work our participants do every day to support their customers, colleagues and communities.

Share our vision

Always looking to improve the personal and professional lives of our community of consultants, we are definitely not ones to rest on past accomplishments. We come to the National Conference prepared to share key business updates and initiatives with our advisors so they can learn all we are doing to maintain our independence and support their growth goals.

This year we announced three major initiatives:

  1. Our goal is to reach $1 trillion in assets under management over the next decade, allowing us to increase reinvestment in the business for the benefit of our advisors

  2. A reduction in our platform fees, bringing cost savings to advisors and their clients

  3. An extension of our range of outsourced business solutions, enabling consultants to scale their businesses

Inspiring personal development and change

Of course, no conference would be complete without keynote speakers to engage and inspire.

On our main stage, Basketball Hall of Famer, NBA legend and entrepreneur Earvin “Magic” Johnson shared insights about personal growth, back to the community and passing it on. He was joined by Laila Ali, four-time undefeated boxing champion, best-selling author, mother and wife, who spoke in an intimate fireside chat with our own Peggy Ho, senior vice president, general counsel and chief risk officer.

Attendees also heard from American football icon and two-time Olympic and world champion Mia Hamm in a fireside chat with Andrew Daniels, Executive Director and Consultant Engagement, on leading teams and inspiring change. JJ Johnson, chief communications officer and executive vice president of communications, public affairs and policy at Fidelity Investments, spoke with John Rooney, executive director of our San Diego office.

Rounding out this panel was Robert Mazur, the former DEA agent who infiltrated Pablo Escobar’s Medellín cartel. He provided an engaging and informative true account of his experiences during our anti-money laundering session.

Expansion of consultant knowledge

Financial advisors have tremendous expertise, but between running a business and serving clients, it can be difficult to stay up to date with the latest products, strategies and tools. Our panel of experts and experts from the industry partners who have joined us delivered a comprehensive program of sessions aligned around the following three pillars of content:

  • Develop: The aim was to help counselors understand what they can do now to develop their practice. Introducing an ensemble business model, pure pricing, and using empathy and curiosity to deepen client relationships were some of the topics we covered.

  • Grow: Many successful consultants focus on growing their business and knowledge. Sessions covered how to meet the needs of wealthy clients, how to recruit young women into the industry, and how to use lead generation services effectively.

  • Flow: Success often depends on the ability to run an efficient practice. We looked at the nuances of complex products, how to leverage Commonwealth’s powerful technology platform, and how to protect customers from cybercrime.

Promote our community

Accordingly McKinsey & Company66 percent of Generation Z believe that “communities are formed by causes and interests, not by economic backgrounds or educational levels.” We agree. That’s why our community team, led by Jessica Fougere, Senior Vice President, is focused on developing micro-communities of advisors focused on business niches, goals, or personal passions.

Our goal is twofold: we want to help consultants feel part of something bigger than themselves. And we want to enable them to nurture and deepen connections by sharing insights and best practices. In this way, we help to foster the professional and personal growth of our community.

The National Conference was a sandbox for this effort. We offered a variety of groups – business leaders, members of family practices, next generation counselors and Commonwealth women counselors – the opportunity to come together and build relationships that will last long after the conference is over.

Would you like to take a closer look? Watch this interactive SlideShare for a behind-the-scenes look at how inspiration, learning, and community came together at our national conference.

Where is the future taking you?

Our next national conference is already on the calendar for October 11-14, 2023 in Colorado. see you there Contact us today to see if Commonwealth could be the trusted partner to take your practice into the future.

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