Wells Fargo’s decision to leave the international space is a move that makes sense, as Elite Consulting Partners CEO Frank LaRosa and COO Dale Dempsey discuss during an episode which highlights the pluses and minuses for firms interested in considering international business. The fact is international financial services is a high stakes game that is not right for every firm or advisor. In order to be successful, knowing who you are and aren’t as an organization is a vital component of success.
Considerations for firms with an international business line include:
*time zone constraints.
*overcoming language barriers.
*managing to different laws and regulations.
*leveraging varying degrees of brand recognition.
The international space for financial services is most certainly a case of risk versus reward. A high level of depth, accuracy, and sophistication is needed in order for a firm and its advisors to achieve internationally. It simply isn’t a space where dabbling can actualize results – you are either all in or all out. Learn directly from Frank and Dale where the industry goes from here and how advisors and firms interested in the international space can capitalize on the niche.