A few weeks ago, I sat down with Bob Mazzarella, our new CEO, and former president of Fidelity Brokerage Services. The following was Bob's view on mobility spending in the advisor space.
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The ability to view a composite of market data, portfolio and performance reporting, alerts, and access to customer contact information greatly enhances an advisor’s ability to serve the client. That level of account insight also delivers a message to the client that his account is well cared for at all times, regardless of the whereabouts of his advisor. That level of account insight also allows the advisor to allocate less time to serving more clients, while allocating more time to prospecting. This reallocation of the advisor’s available time results in a larger book of business and reduced client attrition, which, combined, amounts to increased margin and net revenue for the firm.
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