Nerd's Eye View

AUGUST 15, 2022

By helping clients develop financial goals, creating a financial plan, and supporting the implementation and monitoring of the plan, advisors help clients live their best lives. For instance, AGB connects with pro bono clients so advisors do not need to spend time advertising their services.

Clients 227

Clients Financial Advice Financial Planning Planning 227

Nerd's Eye View

JUNE 17, 2024

Nonetheless, fewer than 10% of SEC-registered investment advisers report using them, even though the SEC’s updated investment adviser marketing rule allows financial advisors to proactively encourage testimonials (from clients), use endorsements (from non-clients), and highlight their own ratings on various third-party review sites.

Financial Advising 246

Financial Advising Compliance Advertising Marketing 246

Nerd's Eye View

MARCH 27, 2023

Similarly, CFP practitioners were found to have a lower practice-wide Client Acquisition Cost (CAC) and greater revenue growth in 2021! SEO tactics, drip marketing campaigns, and online advertisements). Some strategies to do so can include simply talking about their own experiences as CFP professionals more intentionally (e.g.,

CFP 246

CFP Clients Certification Financial Advice 246

Nerd's Eye View

APRIL 26, 2023

accounting reports, client contract templates, and a surety bond) and filing an annual renewal fee near the end of the year. After year-end, firms typically have until March 31 to submit an annual amendment to their Form ADV Part 1 and Part 2A/2B, and until April 30 to offer a copy of their updated Form ADV to their clients.

Compliance 246

Compliance Clients Advertising Accounting 246

Nerd's Eye View

FEBRUARY 1, 2023

Financial advisors who pay third parties to solicit or refer prospective clients to generate new business have historically been subject to the SEC’s Cash Solicitation Rule. These requirements include ensuring that promoters are eligible to receive compensation for testimonials or endorsements (i.e.,

Compliance 242

Compliance Advertising Marketing Marketing 242

Abnormal Returns

JULY 8, 2024

blairbellecurve.com) Advisers need to consider their clients when contemplating selling their firm. When direct mail advertising backfires. (wsj.com) Robinhood ($HOOD) could add money management capabilities. investmentnews.com) Advisers It takes a village to run a successful wealth management firm. kitces.com) Don't be this guy.

Financial Planner 263

Financial Planner Wealth Management Advertising Tax Planning 263

Abnormal Returns

NOVEMBER 7, 2022

wsj.com) Advisers are scrambling to get into compliance with new advertising rules. advisorservices.schwab.com) Insights from the Schwab study including why firms that have an 'ideal client persona' tend to thrive. investmentnews.com) Be careful soliciting client testimonials. thinkadvisor.com).

Compliance 280

Compliance Wealth Management Advertising Financial Advice 280

Nerd's Eye View

JULY 26, 2024

The study also identified attributes of "top performing" firms across a range of metrics, finding that they are more likely than other firms to have a clear ideal client persona, client value proposition, and marketing plan.

Financial Planner 246

Financial Planner Retirement Communication Financial Advisor 246

Nerd's Eye View

NOVEMBER 24, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that FINRA has issued a proposal to allow broker-dealers to advertise hypothetical performance data to institutional and high-net-worth investors, which would bring the rules for broker-dealers largely in line with (..)

Financial Planner 246

Financial Planner Communication Insurance Advertising 246

Nerd's Eye View

DECEMBER 27, 2023

Financial advisors have a fiduciary obligation to act in their clients' best interests, and at the same time are prohibited by state and SEC rules from making misleading statements or omissions about their advisory business.

Financial Advice 246

Financial Advice Communication Compliance Clients 246

Nerd's Eye View

APRIL 21, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that in a settlement with the SEC, robo-advisor platform Betterment agreed to pay a $9 million penalty for allegedly misstating the frequency that its automated tax-loss harvesting system was scanning some client accounts between (..)

Financial Planner 246

Financial Planner Advertising Taxes Clients 246

Nerd's Eye View

SEPTEMBER 13, 2024

Which means that while many fee-only RIAs use the reduced conflicts that come with the fee-only model (as opposed to firms that receive compensation from commissions and other sources) as a key marketing talking point, the fact remains that being truly 'conflict free' is nearly impossible and such claims (which are hard to substantiate) appear to be (..)

Financial Planner 246

Financial Planner Compliance Fee Only Communication 246

Nerd's Eye View

SEPTEMBER 15, 2023

Further, the survey results suggest that advisors who offer comprehensive services tailored to the needs of their target clients are likely to be more successful both retaining their current clients and in attracting clients who might be dissatisfied with their current advisor and their service offering. Read More.

Financial Planner 246

Financial Planner Retirement Retirement Planning Advertising 246

Nerd's Eye View

JANUARY 27, 2023

By switching to 501(c)(6) nonprofit status, the new CFP Board of Standards will have expanded abilities to advance the planning profession through lobbying and more targeted advertising messages to grow the ranks of CFP professionals.

Financial Planner 246

Financial Planner Nonprofit CFP Advertising 246

Nerd's Eye View

JULY 31, 2024

Which means the firm will need to provide records of holdings and transactions for each of its clients (which may require some training and practice for employees to be able to quickly pull the needed data from the firm's custodian), as well as archived client communications and any advertisements produced by the firm.

Compliance 246

Compliance Ethics Advertising Clients 246

Nerd's Eye View

JUNE 16, 2023

Among other highlighted areas of interest, the regulator also flagged whether certain “ineligible persons” have been compensated for testimonials or endorsements and advisors’ use of third-party ratings in advertisements.

Financial Planner 246

Financial Planner Advertising Clients Taxes 246

Nerd's Eye View

AUGUST 25, 2023

Also in industry news this week: The SEC settled its first charges related to its new marketing rule with a firm that advertised 2,700% annual returns A survey suggests that older Americans prefer the term "longevity" to "aging", perhaps informing the way advisors discuss related issues with their clients From there, we have several articles on retirement (..)

Financial Planner 246

Financial Planner Retirement Retirement Planning Advertising 246

Nerd's Eye View

NOVEMBER 28, 2022

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. Combined with growing advisor (and consumer) interest in comprehensive financial planning services, the number of ways advisors can add value for their clients has expanded greatly.

Fee Only 246

Fee Only Portfolio Clients Planning 246

Nerd's Eye View

JULY 10, 2023

But as market trends changed (with the performance of this asset class falling behind large-cap stocks during the 2010s) and clients entered retirement (often consolidating their investment management with 1 advisor), Eliot Rose started losing clients, eventually becoming unprofitable in 2016, the year Jason became president of the firm.

Financial Planning 246

Financial Planning Retirement Planning Clients 246

Nerd's Eye View

OCTOBER 9, 2023

Different strategies have different Client Acquisition Costs (CACs), in terms of both hard-dollar marketing expenses and the cost of the advisor's time spent on the strategy, and an efficient market strategy is one that can effectively attract new clients while minimizing the amount spent to acquire them.

Engineering 245

Engineering Financial Advisor Management Clients 245

MazumaBusinessAccounting

MAY 18, 2022

You’re probably spending a fair amount of money on advertising your small business to potential clients and customers. Did you know most of your marketing and advertising can be written off as a tax deduction to lower your tax bill? 20 Common Tax-Deductible Advertising Expenses for Small Businesses. Radio advertisements.

Advertising 71

Advertising Taxes Accounting Media 71

Nerd's Eye View

JANUARY 23, 2023

Traditional forms of marketing used by financial advisors – including networking with one’s friends and family members, cold-calling, and paid advertising – have been effective at reaching a ‘typical’ client base of older, wealthy retirees.

Marketing 246

Marketing Marketing Financial Planner Education 246

Nerd's Eye View

MAY 1, 2023

This month's edition kicks off with the news that robo-advisor Betterment entered into a $9M settlement with the SEC for misrepresenting its tax-loss harvesting practices in its client agreements and marketing materials compared with its actual practices (e.g.,

Taxes 245

Taxes Retirement Planning Advertising Retirement 245

Midstream Marketing

OCTOBER 29, 2024

It helps you attract new clients and expand your business. This guide offers helpful tips to create a good advertising plan in the financial services area. You will learn how to find your ideal client and create content that engages them. A good online presence helps them find new clients and grow their business.

Advertising 52

Advertising Financial Advisor Financial Services Media 52

Nerd's Eye View

OCTOBER 1, 2022

From there, we have several articles on advisor marketing: How some of the biggest financial services firms are increasing their television advertising and how smaller firms can craft a scalable, cost-efficient marketing strategy.

Financial Planner 245

Financial Planner Retirement Planning Advertising Taxes 245

Million Dollar Round Table (MDRT)

SEPTEMBER 19, 2023

By Bryce Sanders Why don’t your friends and clients send referrals? Simply, they may be unaware you are accepting new clients. Why would they think an insurance or financial services professional isn’t always looking for new clients? They think finding new clients is a rite of passage for new people in the profession.

Clients 91

Clients Advertising Financial Services Insurance 91

Nerd's Eye View

DECEMBER 18, 2024

While state and Federal regulations clearly outline recordkeeping requirements for areas like financials, advertisements, and trading records, there is a notable gap when it comes to documenting the delivery of services – especially financial planning services – necessary to justify the fees charged for those services.

Financial Planning 130

Financial Planning Planning Compliance Advertising 130

Abnormal Returns

NOVEMBER 23, 2022

rationalwalk.com) Companies Trung Phan, "Traditional consumer brands without a successful content play are stuck spending huge dollars on advertising." abnormalreturns.com) Adviser links: setting client expectations. (nytimes.com) Why Berkshire Hathaway ($BRK.A) should split its A shares. Then check out our weekly e-mail newsletter.

Financial Advising 245

Financial Advising Advertising Economy Economics 245

Nerd's Eye View

OCTOBER 18, 2023

A key value proposition for financial advisors is helping clients avoid common behavioral biases that can lead to suboptimal investment decisions. Which often leads to advisors counseling their clients to stay diversified and stick with a disciplined investment strategy to optimize their risk and return over the long term.

Marketing 246

Marketing Marketing Valuation Advertising 246

Nerd's Eye View

JULY 31, 2024

Which means the firm will need to provide records of holdings and transactions for each of its clients (which may require some training and practice for employees to be able to quickly pull the needed data from the firm's custodian), as well as archived client communications and any advertisements produced by the firm.

Compliance 189

Compliance Ethics Advertising Clients 189

NAIFA Advisor Today

OCTOBER 13, 2022

In an advertising campaign in the 1980s, Heinz ketchup used the slogan “Good things come to those who wait.” But let’s assume you have a client who is already 62 or better and wants to leverage his or her home equity one day via a reverse mortgage — should the wait to get one continue or is acting now the optimal strategy?

Clients 98

Clients Advertising 98

Million Dollar Round Table (MDRT)

JANUARY 9, 2024

By Antonette Reyes From having a previous career as a managing partner in an advertising agency, Lester Angelo Reyes , a six-year MDRT from Quezon City, Philippines, says storytelling is his most helpful skill he took from his past career. “I Before recommending solutions, I must understand their struggles and life targets.”

Clients 80

Clients Advertising Media Planning 80

Nerd's Eye View

APRIL 12, 2023

And while Monte Carlo simulations have made it possible for advisors to create retirement projections that seem to have a reasonable basis in math and data, there has been limited research as to whether Monte Carlo models really perform as advertised – in other words, whether the real-world results of retirees over time would have aligned with (..)

Retirement 246

Retirement Retirement Planning Math Advertising 246

The Big Picture

MAY 9, 2023

ADVERTISEMENT) RITHOLTZ: Tell us a little bit about what the Goldman Sachs asset and wealth management business is like. SALISBURY: At the simplest level we manage money for our clients. Three main client segments. SALISBURY: Look, every client is different. And I can’t imagine leaving. What do they focus on?

Assets 299

Assets Clients Investing Investments 299

Nerd's Eye View

DECEMBER 20, 2022

In this episode, we talk in-depth about how, as Emily progressed in her career from working on 401(k) plans to focusing on financial planning, she faced challenges and eventual burnout while building a successful financial planning offering in a firm that was still primarily focused on 401(k) plans first and foremost and didn’t want to allocate (..)

Financial Advisor 246

Financial Advisor Financial Planning Planning Financial Planner 246

Million Dollar Round Table (MDRT)

NOVEMBER 2, 2023

By Aaron Kane, B Bus, AFA We’ve built a cool and better process now around short surveys for clients. We don’t advertise, but the way to do it is word-of-mouth, and Google’s the best way. Once they do them, I reach out and say, “Hey, do you mind doing us a favor? So, can you give us a Google review?”

Clients 87

Clients Advertising Numbers Marketing 87

Nerd's Eye View

JUNE 7, 2023

Which makes it all the more important for IARs to ensure Form U4 is up to date and that the way they are presenting themselves to current and potential clients in public – including content on their website, advertisements, and social media post – aligns with their (also publicly available) regulatory disclosures!

Compliance 246

Compliance Advertising Media Investing 246