“It's all too easy to get distracted by the sizzle and neglect the nitty gritty that really should be happening during the due diligence process.” So says Livonia, MI-based Concorde Holdings, a private financial advising firm comprised of Concorde Investment Services, Concorde Asset Management, and Concorde Insurance Agency. In this exclusive Q&A, GlobeSt.com talks to Concorde's director of research and due diligence officer, Timothy Witt, about what end-of-year steps advisors can be taking now to ensure that they are doing their due diligence—and that they are well-equipped to provide the best products to their clients in 2018.

GlobeSt.com: Walk us through how Concorde approaches the end-of-year review process, and what you think responsible due diligence looks like.

Timothy Witt: Year-end is a great opportunity for advisors to evaluate (or reevaluate) their businesses and the products they recommend for client portfolios. They should determine if these are the same products they will offer in 2018 or if there are better solutions or strategies on their firm's approved list. Also, product choice should be influenced by an advisor's view of the world. For example, if an advisor believes inflation will pick up, they should focus on products that will outperform in that environment.