Nerd's Eye View

APRIL 6, 2023

But some advisors who choose to take more time off from their schedules might be concerned that prospects and clients will consider them to be less committed to serving their planning needs than other advisors. Notably, the choice of work schedule can affect the type of client with whom an advisor might want to work.

Clients 243

Clients Communication Financial Planning Numbers 243

Nerd's Eye View

OCTOBER 2, 2023

FMG Suite has acquired compliant texting solution MyRepChat to integrate into its full-service tech stack, underscoring the potential of text-based communication as a marketing tool – but also highlighting advisors' challenges with integrating texting into their marketing and client communications workflows, as well as the fine line between texting (..)

Communication 246

Communication Portfolio Management Clients Tax Planning 246

Nerd's Eye View

NOVEMBER 14, 2023

And be certain to listen to the end, where Eric shares why, even though his firm added 60 new clients last year, Eric has his sights on acquiring at least 100 new clients per year going forward so that he can grow and scale his firm even faster because he wants to help even more people, how Eric historically struggled to celebrate his wins because (..)

Financial Planning 246

Financial Planning Clients Planning Financial Advisor 246

Nerd's Eye View

FEBRUARY 23, 2023

Despite its growing popularity, though, financial planning remains a relatively mysterious concept for many people who don’t understand how financial advisors actually provide value. For most financial advisors today, a website is a critical tool that allows them to market their services and communicate their fees to potential clients.

Financial Planning 244

Financial Planning Planning Financial Planner Financial Advisor 244

Nerd's Eye View

NOVEMBER 21, 2022

However, by creating a systematic annual process to monitor and update client plans based on seasons, not only can advisors save time and work more efficiently, but they can also communicate the value of ongoing financial planning services to prospects and clients more effectively.

Financial Planning 244

Financial Planning Planning Estate Planning Clients 244

Nerd's Eye View

JULY 13, 2023

Establishing successful client relationships as a financial advisor relies on good communication skills not just to present information persuasively and with confidence, but also to establish client rapport that allows meaningful and engaging relationships to be built.

Clients 246

Clients Financial Planning Financial Planner Communication 246

Nerd's Eye View

FEBRUARY 9, 2023

And by communicating with honesty, clarity, and empathy, advisors can help mitigate any of the prospect’s disheartened feelings of rejection while still providing valuable guidance on what they can do on their own and who can help them, letting the prospect go with their dignity intact.

Assets 246

Assets Communication Financial Advisor Financial Planning 246

Nerd's Eye View

JANUARY 26, 2023

Some advisors, though, may choose not to continue growing the business further, and this choice will inevitably involve the challenging task of saying “no” to future growth opportunities.

Communication 246

Communication Clients Financial Advisor Business Planning 246

Nerd's Eye View

NOVEMBER 15, 2022

Read More.

License 244

License Financial Advisor Clients Communication 244

Nerd's Eye View

NOVEMBER 26, 2024

In this episode, we talk in-depth about how Kevin's firm's new hire training program ramps up through the first 6 months, starting with an initial 90-day stage that uses standardized case studies to teach the firm's financial planning process and how to review and input data into the firm's systems, followed by a second 90-day stage that builds new (..)

Wealth Management 246

Wealth Management Financial Advisor Clients Planning 246

Nerd's Eye View

DECEMBER 29, 2022

And even though most advisors would agree that the road to success involves many years of hard work and sacrifice, each advisor’s path to ultimate success can consist of massively different experiences.

Financial Services 236

Financial Services Communication Financial Advisor Financial Planning 236

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

APRIL 30, 2024

We also talk about how Troy's firm has hired a number of marketing professionals to improve the performance of its marketing campaigns, how Troy has also grown his advisor staff to meet the needs of the rapidly expanding client base, and adopted a 3-advisor pods approach to ensure clients have touchpoints with multiple advisors (and that advisors can (..)

Financial Advisor 246

Financial Advisor Clients Retirement Planning 246

Nerd's Eye View

SEPTEMBER 21, 2023

Notably, while some businesses have achieved phenomenal success with little to no marketing efforts, is it realistic for financial advisors to anticipate success without promoting themselves, but by simply providing exceptional work for their clients?

Advertising 246

Advertising Clients Communication Financial Advisor 246

Nerd's Eye View

MAY 6, 2024

WhatsApp ), in a reminder to all advisory firms that all business-related communication must be archived (and reviewed!)

Financial Advisor 233

Financial Advisor Retirement Planning CFP Clients 233

Nerd's Eye View

JULY 11, 2022

Financial advisors are often responsible for working with a wide range of individuals, both among their client base and coworkers, who each have their own personality, beliefs, and style of communication.

Financial Advisor 242

Financial Advisor Clients Communication Financial Planning 242

Nerd's Eye View

JUNE 17, 2024

Even though the updated marketing rule has enhanced advisers’ ability to leverage online reviews, some advisers might wonder whether clients will actually leave reviews (and, if, so, whether they will be positive).

Financial Advising 246

Financial Advising Compliance Advertising Marketing 246

Nerd's Eye View

FEBRUARY 12, 2024

a high five, fist bump, or even a literal pat on the back) doesn't often have a foundational role in most work-based relationships, yet using it to communicate encouragement and appreciation can be valued by some employees. As the 5th language, Appropriate Physical Touch (e.g.,

Communication 246

Communication Clients Management Business Planning 246

Nerd's Eye View

SEPTEMBER 11, 2023

a client service associate to handle various administrative and client communication tasks, or a paraplanner or associate advisor to work on more planning-centric issues such as building out drafts of financial plans).

Financial Planning 246

Financial Planning Planning Recruitment Clients 246

Nerd's Eye View

AUGUST 10, 2023

In our 118th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how advisory firm owners can manage the transition from a client-facing role into a firm leadership position and how they can come to terms with their new career identity in the process.

Financial Advisor 240

Financial Advisor Clients Communication Management 240

Nerd's Eye View

NOVEMBER 13, 2023

In this post, Kitces Senior Financial Planning Nerd Ben Henry-Moreland writes about the unique challenges created by virtual meetings and how advisors can optimize their meeting space (as well as the structure of the meetings themselves) as a virtual environment.

Clients 246

Clients Financial Planning Planning Communication 246

Nerd's Eye View

NOVEMBER 20, 2023

First, it establishes expectations for the prospect around the process of becoming a client (including the type of calls involved, the onboarding steps, and how long it takes) and the general communication style of the firm. Importantly, keeping this overview simple, high-level, and prospect-focused is crucial.

Financial Advisor 246

Financial Advisor Clients Communication Consulting 246

Nerd's Eye View

NOVEMBER 17, 2022

And sometimes, the fear of committing to an idea that might end in failure can be the real reason for the hesitation to implement in the first place.

Strategic Planning 245

Strategic Planning Planning Communication Financial Advisor 245

Nerd's Eye View

JULY 27, 2023

And while it is already challenging for firm owners to develop an advisory business that is both profitable and sustainable, it can be even more challenging to do so when the firm owner is not actively engaged in operating the firm.

Clients 245

Clients Communication Management Business Planning 245

Nerd's Eye View

AUGUST 25, 2022

In our 93rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explain how the time and resources it takes to elevate an associate advisor can benefit a firm, and what the current generation of new advisors can do to be successful in their roles.

Financial Planning 244

Financial Planning Clients Planning Commission 244

Nerd's Eye View

AUGUST 25, 2022

In our 93rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards explain how the time and resources it takes to elevate an associate advisor can benefit a firm, and what the current generation of new advisors can do to be successful in their roles.

Financial Planning 242

Financial Planning Clients Planning Commission 242

Nerd's Eye View

NOVEMBER 7, 2022

Ezra Group launches a new “WealthTech Integration Score” for major AdvisorTech vendors to help advisors better assess which software has the most meaningful deep integrations.

Risk Tolerance 241

Risk Tolerance Compliance Startup Clients 241

Nerd's Eye View

AUGUST 24, 2022

These include the acknowledgment that the adviser has provided required disclosure documents like Forms ADV Part 2A/B and Form CRS (and, importantly, has obtained consent to have those documents delivered electronically), acknowledgment of the client’s responsibilities to provide complete and accurate information needed by the adviser in a timely (..)

Electronics 242

Electronics Clients Retirement Planning Financial Advice 242

Nerd's Eye View

AUGUST 24, 2022

These include the acknowledgment that the adviser has provided required disclosure documents like Forms ADV Part 2A/B and Form CRS (and, importantly, has obtained consent to have those documents delivered electronically), acknowledgment of the client’s responsibilities to provide complete and accurate information needed by the adviser in a timely (..)

Electronics 238

Electronics Clients Retirement Planning Financial Advice 238

Nerd's Eye View

APRIL 26, 2023

Third, regulators require RIAs to maintain an extensive set of books and records of the firm's business and advisory practices, including business and financial records (like bank statements and invoices), client-related documents (like written client communications, client agreements, and written information forming the basis of any recommendation (..)

Compliance 246

Compliance Clients Advertising Accounting 246

Nerd's Eye View

AUGUST 30, 2023

But in the financial advisory business, firms are typically less concerned about employees taking intellectual property (e.g., financial planning processes and other 'trade secrets') with them to a competitor and are more concerned about clients (and the revenue they bring in) following their (departing) advisor to their new firm.

Clients 246

Clients Communication Financial Planning Planning 246

Nerd's Eye View

SEPTEMBER 7, 2023

Yet, despite that many smaller firms have enjoyed success, scaling the business remain to be challenging prospects for those aiming to grow.

Clients 246

Clients Wealth Management Communication Financial Planning 246

Nerd's Eye View

OCTOBER 24, 2023

In this episode, we talk in-depth about how, despite some false starts and initially problematic underpricing, Sarah-Catherine intentionally built her financial planning fee to transparently communicate her value and the work she does as a financial advisor while also pricing within a range for her originally accidental (but now fully embraced) niche (..)

Financial Advisor 246

Financial Advisor Financial Planning Planning Clients 246

Nerd's Eye View

OCTOBER 10, 2023

In this episode, we discuss how Grier helps advisors navigate the complex world of leaving protocol vs. non-protocol firms and how transitions change depending on whether the advisor has a non-solicit agreement or not, how Grier advises advisors when communicating and setting expectations with clients through the process to help them retain as many (..)

Financial Advisor 243

Financial Advisor Clients Communication Consulting 243

Nerd's Eye View

JULY 26, 2022

In this episode, we talk in-depth about how after working for years in the financial industry, Amy realized there was a missed opportunity in working with career-driven Gen X women like her and decided to focus on serving that type of clientele she knew so well, how the initial fear of launching a firm on her own initially led Amy to partner with another (..)

Financial Planner 246

Financial Planner Management Planning Financial Advisor 246

Nerd's Eye View

JANUARY 24, 2023

And be certain to listen to the end, where Jennifer shares how she was surprised at how far she has come in her career and business as though she admits she put in the hard work and dedication, she never realized it would lead to her running a multi-million-revenue practice and doing so as a female business owner, how, after discovering a valued, long-time (..)

Management 246

Management Financial Advisor Planning Retirement 246

Nerd's Eye View

MAY 16, 2023

And be certain to listen to the end, where Jim shares how, after a couple of years of struggling to hire the right candidates for his firm, he realized that the recruiters he was using were not delivering and decided to implement an ESOP to attract candidates as well as hiring a director of operations who executed a marketing-esque hiring funnel to (..)

Valuation 246

Valuation Financial Advisor Financial Planning Recruitment 246