Business Planning - Financial Advisor Source

Myriad Launches Cybersecurity and Strategic Business Planning Solutions

Wealth Management

FEBRUARY 8, 2024

Myriad Advisor Solutions announces two initiatives to help clients navigate the digital landscape securely while optimizing their business legacies.

Business Planning

Business Planning Planning Clients

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

Wealth Management

OCTOBER 4, 2023

Advisors are overdelivering services such as health care, estate and business planning, while falling short in the areas their clients most desire.

Retirement Planning

Retirement Planning Planning Retirement Business Planning

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Nerd's Eye View

NOVEMBER 19, 2024

We also talk about how Anjali grew her revenue primarily by not increasing her client headcount (which only rose from 35 to 45 clients over the past 6 years) and instead focused on raising her minimum annual retainer fee from $10,000 to $18,000 per client, why Anjali's current clients and prospects are largely willing to pay this fee given the tailored (..)

Clients

Clients Financial Advisor Business Planning Taxes

Webinars

Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

MORE WEBINARS

Manufacturing Has Peaked This Cycle, 8 of 11 ISM Components in Contraction

Mish Talk

DECEMBER 1, 2022

Order backlogs, prices and now lead times are declining rapidly, which should bring buyers and sellers back to the table to refill order books based on 2023 business plans.” Managing head counts and total supply chain inventories remain primary goals. Key Details “The November Manufacturing PMI ® registered 49 percent, 1.2

Manufacturing

Manufacturing Business Planning Management Economy

#FASuccess Ep 426: Rolling Out An Equity Compensation Plan To Align The Entire Team On Client Service And Profitable Growth, With Jennifer des Groseilliers

Nerd's Eye View

FEBRUARY 25, 2025

In this episode, we talk in-depth about why Jennifer’s firm has taken an approach to grant equity rather than require buy-ins (and intends for every employee to either have equity, or at least a path to equity if they’re still new), how Jennifer’s firm sets individual performance targets for its client-facing wealth advisors to earn (..)

Compensation Planning

Compensation Planning Clients Planning Wealth Advisor

What Else Might be Driving Sentiment?

The Big Picture

OCTOBER 19, 2023

If you can’t beat ’em, join ’em seems to be the business plan, even if it makes the rest of us miserable in the process. The response has been to approach news coverage in a similar algo-driven, dopamine-chasing manner that makes Social media so toxic. We are what we eat, media diet included.

Media

Media Economy Economics Wealth Management

#FASuccess Ep 417: Establishing Your Authority As An Expert By Following A Short Book Formula For Authorship, With Paul G. McManus

Nerd's Eye View

DECEMBER 24, 2024

Welcome everyone! Welcome to the 417th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Paul G McManus. Paul is the CEO of More Clients More Fun, a marketing company that helps financial advisors conceptualize and publish their own book in a consolidated 6-week process.

Financial Advisor

Financial Advisor Clients Communication Accounting

Highlights From The Advise AI Conference 2024

Nerd's Eye View

NOVEMBER 18, 2024

The possibilities at the intersection of AI and financial advice are exciting – faster processes, better connections, less time on ‘busy work’ – but also come with uncertainty about the future of the field. In recent years, AI has become an increasingly common feature in advisor technology.

Financial Advice

Financial Advice Clients Portfolio Marketing

#FASuccess Ep 409: Adding 1,400 New Clients In A Year As An Extension Of Doing (Profitable) Student Loan Consulting At Scale, With Travis Hornsby

Nerd's Eye View

OCTOBER 29, 2024

Travis is the founder of Student Loan Planner, an RIA and student loan consulting company based in Chapel Hill, North Carolina that serves nearly 1,400 households with ongoing financial planning (as well as consulting with over 15,000 clients on student loan debt). Welcome, everyone! My guest on today's podcast is Travis Hornsby.

Consulting

Consulting Clients Financial Planning Compensation Planning

Five “Self-Persuasion” Questions To Connect With Prospects Who Say They’re Interested… But Aren’t Moving Forward

Nerd's Eye View

JANUARY 22, 2025

Financial advisors often engage with a variety of prospects, each with unique needs and motivations. Some prospects approach an advisor with an immediate 'problem to be solved', such as a fast-approaching retirement date. I help clients in retirement by doing X, Y, and Z.").

Financial Advice

Financial Advice Financial Planning Retirement Clients

A Recordkeeping Checklist For Financial Planning Services: Proactive Documentation Of Service Delivery To Reduce Regulatory Scrutiny

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

Financial Planning Planning Compliance Clients

#FASuccess Ep 416: Avoiding The Compliance Headaches When Going RIA By Choosing A ‘Supported Independence’ Corporate RIA Platform, With Fran Toler

Nerd's Eye View

DECEMBER 17, 2024

Welcome everyone! Welcome to the 416th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Fran Toler. Fran is the CEO of Toler Financial Group, an RIA based in Silver Spring, Maryland, that oversees nearly $200 million in assets under management for 280 client households.

Compliance

Compliance Financial Advisor Financial Advice Clients

Recognizing Emotionally Invested Team Members And Nurturing “Emotional Ownership” For A More Resilient Firm

Nerd's Eye View

DECEMBER 9, 2024

For many financial advisory firms, ownership has traditionally been tied to equity, where advisors take on financial risk in exchange for legal ownership and a share of the firm's success.

Investing

Investing Investments Distribution Accounting

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Nerd's Eye View

NOVEMBER 4, 2024

Welcome to the November 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Estate Planning

Estate Planning Planning Communication Taxes

Why Don’t Prospects Commit? How “Negative Close” Can Be A Powerful Way To Help Prospects Move Forward

Nerd's Eye View

DECEMBER 25, 2024

The core question in the prospecting process is often one of mutual fit – balancing personality compatibility with the advisor's value proposition versus the problem to be solved.

Financial Planner

Financial Planner Clients Sales Business Planning

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

Nerd's Eye View

NOVEMBER 25, 2024

Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.

Financial Planning

Financial Planning Sales Planning Retirement

#FASuccess Ep 419: Attracting Clients Who Want To Align Their Investments With Their Values With A Sustainable Investing Approach, With Peter Krull

Nerd's Eye View

JANUARY 7, 2025

Welcome everyone! Welcome to the 419th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Peter Krull. Pete is the Director of Sustainable Investing of Earth Equity Advisors, an RIA based in Asheville, North Carolina, that oversees approximately $200 million in assets under management for 250 client households.

Investing

Investing Investments Clients Risk Tolerance

Quantifying (More Accurately) The Real Impact Of A Financial Advisor’s Costs On Their Clients’ Nest Eggs

Nerd's Eye View

OCTOBER 23, 2024

While the financial advice industry has transformed in many ways over the past several decades, one aspect that has remained relatively constant is the use of the Assets Under Management (AUM) fee model as a common way for many advisors to get paid.

Clients

Clients Financial Advice Financial Planning Financial Advisor

7 New Lessons Learned Building A Fee-Only RIA From Scratch: Years 3–5

Nerd's Eye View

SEPTEMBER 23, 2024

Nonetheless, after a year or 2 in business, some firm owners will find that their plate is becoming full and their available time is shrinking as they balance servicing current clients with marketing for new ones and also possibly managing staff.

Fee Only

Fee Only Clients Planning Management

10 Factors To Determine If Your Potential Niche Is Really Viable (And How To Finetune If Necessary)

Nerd's Eye View

MAY 20, 2024

Ongoing research into how advicers can structure their practices to be better and more successful has consistently highlighted the benefits of choosing to serve a specific niche.

Clients

Clients Education Marketing Marketing

DoL’s Retirement Security Rule & PTE 2020-02 Amendment: What Advisers Need to Know Now About Giving Rollover Advice After Sept 23, 2024

Nerd's Eye View

MAY 15, 2024

On April 25, 2024, the Department of Labor (DoL) issued the final version of its Retirement Security Rule (the "Final Rule"), which imposes an ERISA fiduciary standard "that applies uniformly to all investments that retirement investors may make with respect to their retirement accounts ".

Retirement

Retirement Commission Banking Financial Advising

Identifying Your Own “Soft Assets” To Turn COIs Into Powerful Referral Champions

Nerd's Eye View

MARCH 18, 2024

Soliciting prospect referrals can often be an effective way for financial advisors to grow their firms with clients who are ready to act and who will benefit from the firm since many referrals come from sources that are familiar not just with the advisor and the services they offer, but also with the prospect being referred and the needs they seek.

Assets

Assets Media Professional Services Financial Advisor

How Advisors Can Get Client Referrals Identifying “Active Promoters”

Nerd's Eye View

MARCH 11, 2024

Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars.

Clients

Clients Media Accounting Management

How Financial Advisers Can Boost Online Reputation Through Google Reviews (While Complying With SEC Marketing Rule Requirements)

Nerd's Eye View

JUNE 17, 2024

Online reviews are commonly given and used by consumers across many industries, from finding a good restaurant in a new town to reviewing a lawn care service provider.

Financial Advising

Financial Advising Compliance Advertising Marketing

5 Questions Using Risk Assessment Data That Help Advisors Understand Clients’ True Concerns About Risk

Nerd's Eye View

MAY 8, 2024

Measuring a client's tolerance for risk is an essential (and required!) step when onboarding a new client, as making any sort of recommendation is impossible without first understanding how comfortable clients may be when their portfolios inevitably experience volatility.

Clients

Clients Risk Tolerance Financial Planning Planning

How Advisors Can Get Client Referrals By Identifying “Active Promoters”

Nerd's Eye View

MARCH 11, 2024

Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars.

Clients

Clients Media Accounting Management

7 Lessons Learned Launching A Sustainable Business Model To Serve (And Attract!) Profitable Millennials And Gen Z Clients

Nerd's Eye View

SEPTEMBER 16, 2024

The business model of many financial advisory firms revolves around serving clients who are able to pay a certain minimum in annual advisory fees, which reflects not only the value that the advisor can provide for the client, but also the amount that the advisor must charge in order to provide the level of deep planning and investment management that (..)

Clients

Clients Planning Tax Planning Management

Why “Deferred Sales Trusts” Can Be A Risky Way To Defer Taxes On A Business Sale

Nerd's Eye View

MAY 29, 2024

Small business owners often treat their businesses not only as their source of income during their working years, but also as an asset that can be sold to fund their retirement.

Sales

Sales Taxes Assets Retirement

3 Key Principles For Measurable and Actionable Standards That Help Cultivate Excellent Client Service

Nerd's Eye View

JULY 29, 2024

Most financial advisors strive to provide excellent client care and prioritize a systematic process to maintain regular communication with their clients both on a scheduled (e.g., annual meeting) and an "on demand" basis.

Clients

Clients Communication Healthcare Planning

AI May Transform Your Advisor Practice In 10 Years, But It Still Won’t Do Much In 2 Years

Nerd's Eye View

SEPTEMBER 18, 2024

In the nearly 2 years since the launch of ChatGPT, there has been an explosion of new technology solutions incorporating Artificial Intelligence (AI). Today, AI is now almost ubiquitous across many of the tools that we use, from smartphone cameras to search engines to office productivity software.

Engineering

Engineering Clients Financial Advisor Financial Planning

#FA Success Ep 385: Unblocking Clients That Won’t Implement With A Journey Of Financial Health, With Danielle Howard

Nerd's Eye View

MAY 14, 2024

Welcome everyone! Welcome to the 385th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Danielle Howard. Danielle is the owner of Wealth By Design, a hybrid advisory firm based in Glenwood Springs, Colorado, that oversees about $35 million in assets under advisement for 35 client households.

Clients

Clients Financial Planning Financial Advisor Planning

Assessing Payouts And Platform Fees For Profitability When Choosing An Independent Advisor Platform To Affiliate With

Nerd's Eye View

APRIL 22, 2024

Broadly speaking, there are 2 models of working as a financial advisor: operating independently as a firm owner or with a large affiliate platform such as a wirehouse broker-dealer, independent broker-dealer, or larger corporate RIA. Deciding which model to work under is a key moment in beginning or evolving a career as an advisor.

Compliance

Compliance Clients Financial Advisor Numbers

Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

Nerd's Eye View

OCTOBER 7, 2024

Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Clients

Clients B2B Estate Planning Planning

Empowering Employee Advisors Who Struggle With Business Development By Narrowing Them Into A Niche

Nerd's Eye View

OCTOBER 14, 2024

Independent Registered Investment Advisors (RIAs) often face significant challenges in attracting advisors who can proactively generate new business.

Strategic Planning

Strategic Planning Sales Clients Planning

#FASuccess Ep 406: Exiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors, With Michael Kramer

Nerd's Eye View

OCTOBER 8, 2024

Welcome everyone! Welcome to the 406th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Michael Kramer. Michael is the manager of Natural Investments, an RIA based in San Francisco, California that has offices across the country, overseeing $1.9 billion in assets under management for 1,300 client households.

Financial Advisor

Financial Advisor Clients Distribution Planning

How To Survive Your First SEC Audit: Preparing For The SEC Examination And Complying With The Information Request Letter

Nerd's Eye View

JULY 31, 2024

For SEC-registered financial advisors, the prospect of an upcoming examination by the SEC can be a source of high anxiety.

Compliance

Compliance Ethics Advertising Clients

How To Bring A Team Together For A (First-Time, In-Person) Retreat

Nerd's Eye View

MARCH 25, 2024

For the advisor leading a virtual team, the day-to-day can offer a rewarding blend of flexibility, creativity, and productivity; at the same time, though, many of the benefits of remote work can also make it challenging to build a tight-knit team culture.

Planning

Planning Taxes Management Clients

#FASuccess Ep 389: Generating $5M In Hourly Planning Fees In The Blue Ocean Of Consumer Demand, With Mark Berg

Nerd's Eye View

JUNE 11, 2024

Welcome everyone! Welcome to the 389th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Mark Berg. Mark is the Founder of Timothy Financial Counsel, an RIA based in Wheaton, Illinois, that is on track to generate approximately $5 million in annual revenue this year serving 800 client households.

Planning

Planning Financial Advisor Financial Counseling Clients

The Latest In Financial #AdvisorTech (June 2024)

Nerd's Eye View

JUNE 3, 2024

Welcome to the June 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Risk Tolerance

Risk Tolerance Communication Startup Financial Planning

How Outsourcing Marketing Can Unlock Growth Potential For Advisory Firms: Key Steps For Choosing The Right Provider

Nerd's Eye View

NOVEMBER 11, 2024

To sustain firm growth, financial advisors often face a dilemma: to focus on what originally drew them to the profession – like financial planning – they often must first do an extensive amount of business development.

Marketing

Marketing Marketing Communication Engineering

The Latest In Financial #AdvisorTech (July 2024)

Nerd's Eye View

JULY 1, 2024

Welcome to the July 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that AI meeting support solution Jump has raised $4.6

Financial Advisor

Financial Advisor Clients Accounting Education

#FA Success Ep 384: Growing An Advisor Career From (Bank) Assistant To Partner While Also Growing A Family, With Hannah Provost

Nerd's Eye View

MAY 7, 2024

Welcome everyone! Welcome to the 384th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Hannah Provost.

Banking

Banking Financial Advisor CFP Financial Advice

How To Register And Remain Registered With The SEC As An Internet Investment Adviser

Nerd's Eye View

MAY 1, 2024

A little over 20 years ago, when the Internet was still just a few years into gaining widespread use, the SEC understood its potential to transform how financial advisory firms conducted business with the ability to deliver advice digitally, lowering the barriers to serve clients across the country.

Investing

Investing Investments Compliance Clients

3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients

Nerd's Eye View

APRIL 17, 2024

And while all may appear well on the surface – the client rarely contacts the advisor with problems but they show up for every annual meeting – they may actually be feeling quite disengaged with the financial planning services being provided. After advisors do all of the work of bringing on a new client (Marketing! Prospecting!

Clients

Clients Financial Planning Planning Compliance

Myriad Launches Cybersecurity and Strategic Business Planning Solutions

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

Webinars

Trending Sources

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Webinars

Manufacturing Has Peaked This Cycle, 8 of 11 ISM Components in Contraction

#FASuccess Ep 426: Rolling Out An Equity Compensation Plan To Align The Entire Team On Client Service And Profitable Growth, With Jennifer des Groseilliers

What Else Might be Driving Sentiment?

#FASuccess Ep 417: Establishing Your Authority As An Expert By Following A Short Book Formula For Authorship, With Paul G. McManus

Highlights From The Advise AI Conference 2024

#FASuccess Ep 409: Adding 1,400 New Clients In A Year As An Extension Of Doing (Profitable) Student Loan Consulting At Scale, With Travis Hornsby

Five “Self-Persuasion” Questions To Connect With Prospects Who Say They’re Interested… But Aren’t Moving Forward

A Recordkeeping Checklist For Financial Planning Services: Proactive Documentation Of Service Delivery To Reduce Regulatory Scrutiny

#FASuccess Ep 416: Avoiding The Compliance Headaches When Going RIA By Choosing A ‘Supported Independence’ Corporate RIA Platform, With Fran Toler

Recognizing Emotionally Invested Team Members And Nurturing “Emotional Ownership” For A More Resilient Firm

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Why Don’t Prospects Commit? How “Negative Close” Can Be A Powerful Way To Help Prospects Move Forward

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

#FASuccess Ep 419: Attracting Clients Who Want To Align Their Investments With Their Values With A Sustainable Investing Approach, With Peter Krull

Quantifying (More Accurately) The Real Impact Of A Financial Advisor’s Costs On Their Clients’ Nest Eggs

7 New Lessons Learned Building A Fee-Only RIA From Scratch: Years 3–5

10 Factors To Determine If Your Potential Niche Is Really Viable (And How To Finetune If Necessary)

DoL’s Retirement Security Rule & PTE 2020-02 Amendment: What Advisers Need to Know Now About Giving Rollover Advice After Sept 23, 2024

Identifying Your Own “Soft Assets” To Turn COIs Into Powerful Referral Champions

How Advisors Can Get Client Referrals Identifying “Active Promoters”

How Financial Advisers Can Boost Online Reputation Through Google Reviews (While Complying With SEC Marketing Rule Requirements)

5 Questions Using Risk Assessment Data That Help Advisors Understand Clients’ True Concerns About Risk

How Advisors Can Get Client Referrals By Identifying “Active Promoters”

7 Lessons Learned Launching A Sustainable Business Model To Serve (And Attract!) Profitable Millennials And Gen Z Clients

Why “Deferred Sales Trusts” Can Be A Risky Way To Defer Taxes On A Business Sale

3 Key Principles For Measurable and Actionable Standards That Help Cultivate Excellent Client Service

AI May Transform Your Advisor Practice In 10 Years, But It Still Won’t Do Much In 2 Years

#FA Success Ep 385: Unblocking Clients That Won’t Implement With A Journey Of Financial Health, With Danielle Howard

Assessing Payouts And Platform Fees For Profitability When Choosing An Independent Advisor Platform To Affiliate With

Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

Empowering Employee Advisors Who Struggle With Business Development By Narrowing Them Into A Niche

#FASuccess Ep 406: Exiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors, With Michael Kramer

How To Survive Your First SEC Audit: Preparing For The SEC Examination And Complying With The Information Request Letter

How To Bring A Team Together For A (First-Time, In-Person) Retreat

#FASuccess Ep 389: Generating $5M In Hourly Planning Fees In The Blue Ocean Of Consumer Demand, With Mark Berg

The Latest In Financial #AdvisorTech (June 2024)

How Outsourcing Marketing Can Unlock Growth Potential For Advisory Firms: Key Steps For Choosing The Right Provider

The Latest In Financial #AdvisorTech (July 2024)

#FA Success Ep 384: Growing An Advisor Career From (Bank) Assistant To Partner While Also Growing A Family, With Hannah Provost

How To Register And Remain Registered With The SEC As An Internet Investment Adviser

3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients

Stay Connected