Adjusted for Risk: Client Communication Is Key to Investing Alternatives
Wealth Management
NOVEMBER 5, 2024
UniFi by CAIA's Aaron Filbeck details the evolution of alternative investments and the importance of client communication.
WMIQ: Stark Differences Exist Between High-Growth Firms, Others in Marketing and Client Communications
Wealth Management
JANUARY 6, 2023
New research from WealthManagement.com's WMIQ suggests firms are inhibiting growth by minimizing, and in many cases mishandling, marketing and client communications.
Communication 
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Adjusted for Risk: Client Communication Is Key to Investing Alternatives
Wealth Management
NOVEMBER 5, 2024
UniFi by CAIA's Aaron Filbeck details the evolution of alternative investments and the importance of client communication.
Communication 246
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Adjusted for Risk: Client Communication Is Key to Investing Alternatives
Wealth Management
NOVEMBER 5, 2024
UniFi by CAIA's Aaron Filbeck details the evolution of alternative investments and the importance of client communication.
Communication 242
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How Communicating Guardrails Withdrawal Strategies Can Improve Client Experience And Decrease Stress
Nerd's Eye View
MARCH 20, 2024
Monte Carlo simulations have become a central method of conducting financial planning analyses for clients and are a feature of most comprehensive financial planning software programs. the Great Depression or the Global Financial Crisis), showing clients when and to what degree spending cuts would have been necessary.
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The Value of Client Communication
Wealth Management
JANUARY 29, 2025
Clearly explaining the technical aspects of the planners proposals aids in the successful implementation of estate plans.
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Communicate (The Necessity Of) Fee Increases With A Client-Centric, Value-Based Approach
Nerd's Eye View
JUNE 19, 2023
The necessity of fee increases entails a certain amount of pain for monthly-fee advisors since each conversation around raising fees creates the possibility of pushback from clients that could put a strain on the client-advisor relationship. Read More.
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Reframing Risk In Retirement As “Over- And Under-Spending” To Better Communicate Decisions To Clients, And Finding “Best Guess” Spending Level
Nerd's Eye View
APRIL 24, 2024
Over the past few decades, advicers have used Monte Carlo analysis tools to communicate to clients if their assets and planned level of spending were sufficient for them to realize their goals while (critically) not running out of money in retirement.
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The Promise of Next-Gen Communications: Happier Clients, Lower Costs
Wealth Management
APRIL 25, 2023
“Personalization with efficiency” is key to building strong client relationships.
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Why the Mode of Communication Matters for Advisors
Wealth Management
AUGUST 4, 2023
True personalization means taking the time to understand your clients' preferred learning styles and communication preferences to lay the foundation for fruitful dialogue, genuine comprehension of your advice, and ultimately, sound decision-making and action by the client.
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Adviser links: communication skills
Abnormal Returns
APRIL 29, 2024
barrons.com) Advisers Don't discount the power of the Fidelity, Vanguard and Schwab brands to potential clients. (downtownjoshbrown.com) Ritholtz Wealth Management continues to grow without acquisitions. riabiz.com) Advisory firm profitability and how affiliate fees play a role.
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Advisors: Retain or Lose Clients Based on Your Communication Approach
Wealth Management
SEPTEMBER 13, 2023
Thursday, October 05, 2023 | 2:00 PM ET
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Graduating Clients The Right Way: A Thoughtful Approach To Sustainably Transition ‘Small’ Clients To On-Demand
Nerd's Eye View
FEBRUARY 24, 2025
Early in a firm's life cycle, a founder might take on nearly any client (and their fees) just to generate enough revenue to 'keep the lights on'. However, as the firm grows, some of those early clients may no longer be profitable to serve – especially if they generate lower fees than newly onboarded clients.
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Sending (Private) Client Newsletters: How Advisors Can Do It Effectively To Reinforce Value
Nerd's Eye View
JANUARY 15, 2024
For financial advisors, an ongoing client service model often means finding ways to keep clients engaged and progressing toward their goals outside of the 1 or 2 typical client review meetings each year.
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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., Suddenly, the question of, "What does it mean to provide the best care for clients at this firm as a team?" becomes a crucial one to solve.
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Kitces & Carl Ep 103: Balancing Client Responsiveness With The Proactive Sledgehammer Of Value
Nerd's Eye View
JANUARY 12, 2023
As comprehensive financial planning has become more widely adopted, many financial advisors have felt pressure to find new ways to differentiate themselves by demonstrating their unique value to clients. Others use frequent emails to stay in regular contact, sending reminders or helpful information relevant to their clients.
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Kitces & Carl Ep 153: Evaluating The Tradeoffs That Come With Retaining ‘Legacy’ Clients
Nerd's Eye View
DECEMBER 12, 2024
There's an old joke in the financial planning industry that the ideal client is "anyone with a pulse". However, as their firms mature, advisors often notice a divide manifesting between newer clients paying higher fees and 'legacy clients' from the early days paying discounted rates. take a physical and emotional toll.
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Kitces & Carl Ep 143: Taking Over Clients From An Advisor With A Different Personality And Communication Style
Nerd's Eye View
JULY 25, 2024
About a decade or so ago, one of the most pressing issues facing the financial advice industry was the threat of an imminent deluge of advisor retirements coupled with a paucity of succession plans to transition clients to the next generation. or "Is there anything that's top of mind right now that maybe we haven't addressed yet?"
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Kitces & Carl Ep 157: Reducing The Fears Of Prospective Clients By Communicating Clear Expectations Before The First Meeting
Nerd's Eye View
FEBRUARY 6, 2025
In the 157th episode of Kitces & Carl , Michael Kitces and client communication expert Carl Richards discuss how advisors can alleviate a prospect's anxiety by setting clear expectations for the introductory meeting – both in terms of logistics and emotional preparedness. Read More.
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Kitces & Carl Ep 152: Advisory Fee Confidence And Building The Happy-Client Stoke File
Nerd's Eye View
NOVEMBER 28, 2024
This fee confidence gap has large ramifications in the long term, as firms with higher revenues can reinvest in growth – with hiring, marketing, and process improvements – that enhance their value proposition and attracts more prospective clients. Have clients described the advice as "life-changing"? Read More.
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Kitces & Carl Ep 114: When Clients Are Tempted By The Siren Song Of (A Competitor’s) Investment Results
Nerd's Eye View
JUNE 15, 2023
For many financial advisors, keeping an open line of communication with clients is a key component of building trust, understanding the client’s values, and developing a meaningful plan to help them reach their financial goals.
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Kitces & Carl Ep 122: Helping Clients Make Decisions That DON’T Make (Financial) Sense
Nerd's Eye View
OCTOBER 5, 2023
For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement. Which can help clients narrow down what really matters to them most.
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Evolving From Dysfunctional Team To Advisory Dream Team To Improve Retention And Attract Better-Fit Clients
Nerd's Eye View
JULY 22, 2024
The obvious answer to growing beyond the capacity of a single owner/advisor is to build a team of employees (either in advisory and/or other roles like client service or operations) that can accommodate additional room for growth.
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Artificial Intelligence Can Be a Superpower for Financial Advisors
Wealth Management
NOVEMBER 20, 2024
New tools automate the process of personalizing service and communications to improve the advisor-client relationship.
Why To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients
Nerd's Eye View
JULY 27, 2022
While an advisor needs technical financial planning knowledge to create and implement plans for clients, soft skills that involve effective communication and relationship building are also crucial to both relate to prospects and clients and to understand their needs. Notably, the goal-development process is not a quick one.
How To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients
Nerd's Eye View
JULY 27, 2022
While an advisor needs technical financial planning knowledge to create and implement plans for clients, soft skills that involve effective communication and relationship building are also crucial to both relate to prospects and clients and to understand their needs. Notably, the goal-development process is not a quick one.
Kitces & Carl Ep 97: Talking Clients Down From Making Politically Motivated Portfolio Changes
Nerd's Eye View
OCTOBER 20, 2022
In recent years, politically charged topics have become the forefront of news and media, and with the rise of access to digitally distributed media, it has become commonplace for clients to have concerns about the possible impact of political events on their portfolios.
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The 5 Dysfunctions Of Client/Advisor Relationships: How Advisors Can (Re-)Build Trust And Spur Clients Into Action
Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. Then, because the client isn't "bought in" to the recommendations, they simply don't act on what the advisor recommends.
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Fact, Situation, Feeling – Using The Iceberg Follow-Up Model To Connect With And Motivate Clients
Nerd's Eye View
FEBRUARY 7, 2024
The need for financial professionals to ask prospects and clients questions has a long history in the industry. One of the best ways to accomplish that goal is not to ask better questions, but to also ask engaging follow-up questions that build trust and rapport with clients. as judgmental.
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Kitces & Carl Episode 109: Attracting Clients – An Advisor For Their Goals Or A Role Model Of What They Can Achieve
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.
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Kitces & Carl Ep 134: Helping Clients Who Can’t Ever Get To ‘Enough’ (And When They Don’t Really Want To)
Nerd's Eye View
MARCH 21, 2024
For many financial advicers, helping long-time clients identify and progress toward their goals eventually transitions into conversations around the best ways to enjoy the fruits of their labor once they reach them. And by ensuring that their clients are equipped with (and know how to follow!) Read More.
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Kitces & Carl Ep 116: Getting Training As (Or For) An Associate Advisor To Talk More In Client Meetings
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.
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#FA Success Ep 359: Building A Financial Planning Assessment To Show Clients Progress And Value Over Time, With Eric Miller
Nerd's Eye View
NOVEMBER 14, 2023
Eric is the Chief Financial Advisor and Co-Owner of Econologics Financial Advisors, an independent RIA based in Largo, Florida, that generates more than $4M of revenue while working with nearly 300 client households.
Optimizing Virtual Client Meetings To Make Them More ‘Real’ And Less Exhausting
Nerd's Eye View
NOVEMBER 13, 2023
Traditionally, financial planning meetings have been held face-to-face in an advisor's office, and over the years, a body of research has emerged showing that how the advisor's office is laid out can have a significant impact on how clients perceive the advisor, their mood during the meeting, and even their resulting financial planning decisions.
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Q&A: Philipp Hecker, CEO of Bento Engine
Wealth Management
NOVEMBER 14, 2023
The co-founder discusses the why of Bento through to the predictive client-communications platform's just announced partnership with marketing firm FMG Suite.
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AI Startup for Advisors Jump Announces $4.6M in Funding
Wealth Management
JUNE 10, 2024
The AI assistant records meeting notes and turns them into automated actions from generating client communications to plan changes.
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The WealthStack Podcast: How to Use Generative AI to Scale Your Practice With Alan Gurung
Wealth Management
DECEMBER 1, 2023
As the first AI-powered GPT assistant for financial advisors, SIFA is on a mission to automate ongoing communications between advisors and their clients.
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Kitces & Carl Ep 96: Handling Politically Charged Clients Who Make It Uncomfortable To Be Their Advisor
Nerd's Eye View
OCTOBER 6, 2022
When it comes to politically charged discussions, financial advisors generally try to stay neutral and focus on providing clients with objective financial advice. While many advisors want to remain neutral, the recurring conversations about politics can be stressful, especially when the client and advisor have opposing political viewpoints.
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Kitces & Carl Ep 115: Setting The Right Minimum Fee Per Client And The Revenue Model Generator
Nerd's Eye View
JUNE 29, 2023
And while there are many factors that help owners determine whether their firm is making enough money to profitably sustain itself, one common variable that can help them adjust their net revenue is the fee they charge to clients for financial planning services. Read More.
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Kitces & Carl Ep 142: Carl’s 13 Magical Questions Of Conversational Goodness With (New) Clients
Nerd's Eye View
JULY 11, 2024
Meaningful communication is crucial to building strong, durable relationships, and asking effective questions is an essential part of facilitating impactful conversations. More often, initial outreach from a prospect occurs because there's some urgent issue they need help with.
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3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients
Nerd's Eye View
APRIL 17, 2024
After advisors do all of the work of bringing on a new client (Marketing! 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.
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Kitces & Carl Ep 110: Dressing Up For Clients (Do Advisors Really Need To Dress For Success?)
Nerd's Eye View
APRIL 20, 2023
In any business profession, establishing credibility and trust are important to attracting clients and building a reputation amongst colleagues. Traditionally, business attire for financial advisors meant wearing the typical suit and tie in all instances of client-facing activities. Read More.
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Why Held-Away Asset Management Technology Is Being Scrutinized By State Regulators (And How Advisors Can Compliantly Manage Clients’ 401(k) Assets)
Nerd's Eye View
AUGUST 28, 2024
Historically, advisors haven't had many avenues to manage clients' 401(k) plan accounts, since unlike traditional custodial investment accounts, advisors generally lack discretionary trading authority in employer-sponsored retirement plans.
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Monday links: changed communication
Abnormal Returns
DECEMBER 2, 2024
bonddad.blogspot.com) Earlier on Abnormal Returns Adviser links: loving clients' problems. (sherwood.news) Economy Bubbles often leaving interesting stuff behind. awealthofcommonsense.com) The November ISM manufacturing index remains weak-ish. abnormalreturns.com) What you missed in our Sunday linkfest.
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