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 239

Financial Advising Compliance Advertising Marketing 239

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 242

Compliance Clients Advertising Accounting 242

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 94

Clients Advertising Financial Services Insurance 94

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 261

Financial Planner Wealth Management Advertising Tax Planning 261

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 243

Compliance Clients Advertising Accounting 243

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 83

Clients Advertising Media Planning 83

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 181

Clients Financial Advice Financial Planning Planning 181

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 237

Financial Planner Compliance Fee Only Communication 237

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 240

Financial Planner Retirement Communication Financial Advisor 240

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 160

Clients Financial Advice Financial Planning Planning 160

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 187

Compliance Advertising Marketing Marketing 187

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 90

Clients Advertising Numbers Marketing 90

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 236

Financial Planner Communication Insurance Advertising 236

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

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 230

Compliance Ethics Advertising Clients 230

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 276

Compliance Wealth Management Advertising Financial Advice 276

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 233

Financial Planner Retirement Retirement Planning Advertising 233

Indigo Marketing Agency

JULY 28, 2023

LinkedIn Audience Network is a network of trusted third-party apps and websites you can advertise on. We recommend advertising at least $1,000 per month (the cost per action could be higher but effective on LinkedIn). LinkedIn ad campaigns are a great way to improve your reach and connect with more A+ clients as a financial advisor.

Advertising 52

Advertising Budgeting Financial Advisor Management 52

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 214

Financial Advice Communication Compliance Clients 214

MarketWatch

MAY 17, 2023

Tesla Inc.’s Kallo said the naming of JB Straubel, former CTO, to the board against protests from some shareholders, is “a strategic addition that will further enhance TSLA’s technology leadership and speculate that it may be indicative of a future partnership in materials recycling.”

Advertising 75

Advertising Startup Clients Marketing 75

Million Dollar Round Table (MDRT)

APRIL 11, 2024

By Mike Beirne, Round the Table editor Great brands are shaped less from advertising, a company logo or by products and services and more so from the attributes that make a company stand out from the competition.

Clients 86

Clients Advertising Marketing Marketing 86

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 182

Compliance Ethics Advertising Clients 182

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 226

Financial Planner Retirement Retirement Planning Advertising 226

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 208

Financial Planner Advertising Taxes Clients 208

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 224

Financial Planner Advertising Clients Taxes 224

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 243

Financial Planning Retirement Planning Clients 243

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 220

Financial Planner Nonprofit CFP Advertising 220

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 201

Engineering Financial Advisor Management Clients 201

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 225

Fee Only Portfolio Clients Planning 225

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 240

Marketing Marketing Financial Planner Education 240

Steve Sanduski

AUGUST 14, 2024

We also discuss how Erin’s role has evolved from lead advisor to CEO, as well as leveraging tech to help advisors move up the value stack and address client’s higher-level advice and life needs. How Erin let go of his advisory responsibilities and the tough conversations he had to have with many of his clients.

Advertising 105

Advertising Marketing Marketing Clients 105

Sara Grillo

FEBRUARY 2, 2024

How do I start prospecting and gain local clients? ” Tune in to learn how to meet wealthy clients in your local area – city, town, etc. How do you meet wealthy people that could possible become your client, if you’re a financial advisor who moved to a new city or town? “ I just moved to a new city.

Clients 52

Clients Financial Advisor Media Consulting 52

Midstream Marketing

OCTOBER 30, 2024

A strong brand identity is key to getting and keeping clients in this tough market. Websites, social media, and SEO offer great opportunities to connect with new clients online. They need to put in more effort to attract prospective clients looking for financial advice. Clients looking for investment advice have many options.

Investment Advisor 52

Investment Advisor Investing Investments Ethics 52

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 204

Taxes Retirement Planning Advertising Retirement 204

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 228

Marketing Marketing Valuation Advertising 228

Sara Grillo

MAY 9, 2022

Here are the reasons it will ruin your clients’ portfolios and you should run away as fast as you can. All the direct indexing providers advertise the benefits of tax loss harvesting. You can do very well for clients by harvest tax losses occasionally when the market dips. Direct indexing sucks – don’t do it.

Portfolio 72

Portfolio Clients Financial Advisor Taxes 72