Welcome to the sixth in a series of industry content from Panoramix designed to help advisors succeed in a more challenging operating environment.

Particularly in these unprecedented, volatile and pandemic times, technology is playing an even bigger role in how advisors are interacting with their clients and managing their businesses.

In order to protect profits and smooth revenues as markets whipsaw up and down, many advisory firms are revisiting their billing methodologies to better synch up the timing of their revenues and expenses. As the industry has recently experienced, the dramatic revenue drops from the market break in early 2020, created tremendous pressure on RIA P&Ls. So much so, that over 2,000 firms turned to government subsidies in the form of PPP loans to provide a cash flow bridge to manage the revenue hit.