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Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news that following the change of administration (and a new incoming chair of the SEC), the Investment Adviser Association is seeking to find ways to help RIAs (particularly smaller firms) manage the compliance responsibilities they (..)
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Notably, this announcement included the first off-channel communication case brought by the SEC as a result of a referral from an RIA exam, which could lead examiners to focus on off-channel communications during regular RIA examinations.
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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.
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Enjoy the current installment of “Weekend Reading For FinancialPlanners” - 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 (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a recent survey found that clients across several countries who work with a CFP professional have better outcomes on a range of measures compared to those working with other advisors or no advisor at all, suggesting that the (..)
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Enjoy the current installment of "Weekend Reading For FinancialPlanners"– this week's edition kicks off with the news that a recent analysis from Morningstar suggests that the Department of Labor's (DoL's) new Retirement Security Rule (aka Fiduciary Rule 2.0)
Which could prove to be a boon for the financial advice industry as more consumers are willing to entrust their assets to an advisor (while at the same time possibly making it tougher for some advisors to differentiate themselves primarily by how they put their clients' interests first?). Read More.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a recent study has found that many small- and mid-sized advisory firms that use "supported independence" platforms for their technology and back-office needs, have the potential to see greater growth in the years ahead given (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news that a recent benchmarking study suggests that a number of RIAs are looking to move 'upmarket' and work with wealthier clients by expanding their service menu to include family office services, investment banking, and/or trust (..)
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that CFP Board announced this week that it is splitting into two separate organizations with the same leadership but different nonprofit statuses.
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that the Financial Planning Association and Money.com are planning to publish a “Best Financial Advisors” list based on advisors’ education, credentials, and experience, as well as harder-to-quantify (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news of a survey indicating that about 90% of financial advisors would switch firms based on bad technology at their current firm, and that 44% have already done so.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that the U.S. Supreme Court heard arguments this week in the case of SEC v.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that the Securities and Exchange Commission this week authorized 11 Spot Bitcoin Exchange-Traded Funds (ETFs), which could provide financial advisors and their clients with a convenient way to invest in the cryptocurrency without (..)
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Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that Congress appears poised to pass a series of changes affecting retirement planning, dubbed “SECURE ACT 2.0”, ”, by the end of the year. Social Security COLA for 2023.
Advisor Metrics, Cerulli Associates predicts that 37.5% (or nearly 110,000) of financial advisors will retire over the next 10 years. Beyond that, however, obligating financialplanners to hire and train new advisors could create some unintended (and detrimental) consequences. Read More.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that recent surveys indicate that consumers continue to trust human financial advisors more than Artificial Intelligence (AI)-powered tools.
Which suggests that while firms might be tempted to zero in on compensation when it comes to retaining advisors, focusing on these other factors (which do not necessarily involve hard dollar expenses) could pay off in the form of increased advisor (and client) retention over time.
Regardless of the pricing structure that firms choose, Kitces research on "How FinancialPlanners Actually Do Financial Planning" finds that there is a gap in "fee confidence" – while some advisors charge at or beyond "market price", others consistently underprice themselves. Read More.
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.
standarddeviationspod.com) Brendan Frazier talks with Kathi Balasek about communicating with grieving clients. thinkadvisor.com) Some perspectives on being a financialplanner. Podcasts Daniel Crosby talks with Michael Finke about how to deal with market volatility in retirement. flowfp.com)
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. This can help prospects decide whether the working relationship would be a good fit for them and give them greater confidence in the value of hiring the advisor.
When financial planning clients think about their future, they might imagine a relaxing retirement, world travel, or other pleasant experiences. And using this perspective, advisors can add value for clients by helping them prioritize their goals and explore whether their current behaviors match their desired outcomes.
(bloomberg.com) Charitable giving strategies are as varied as the client. riabiz.com) Communication Having a public presence can be scary for advisers. wealthmanagement.com) Should you write your clients an annual letter? spilledcoffee.substack.com) How much should clients know about their adviser?
Amy is the owner of Rooted Planning Group, an independent RIA based in Corning, New York that oversees $67 million in assets under management for 175 client households.
For many financial advisors, the most valuable part of what they offer comes down to the financial advice that they give, whether it be the expert guidance they give to a certain niche or a unique point of view that presents unique insights to an individual client.
Each week in Weekend Reading For FinancialPlanners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.
He’s taking the world by storm as an hourly financialplanner, not managing any assets just giving out powerful financial planning guidance that clients love. Why he chose to become an hourly planner Kevin noticed that there is usually more time spent in the early years in a client relationship.
client retention rates remaining robust, and at least a bit of client referral growth trickling in. The first half of 2024 has been a solid start for most advisory firms, with markets enjoying moderate growth (a pleasant follow-through after a particularly strong 2023!), Read More.
The typical prospecting process involves multiple meetings, and a fairly common response for advisors to hear after giving their 'pitch' is that the client needs some extra time to think about it. This sales technique involves asking a "negative" question such as, "Joining with a financialplanner can be a really scary jump to make, right?"
In the early days of financial planning, serving clients often meant developing transactional relationships focused on facilitating trades and selling insurance. Today, the industry has evolved further, with a growing emphasis on aligning financial decisions with clients' personal priorities and life goals.
Marketing for FinancialPlanners: Strategies to Build Trust and Grow Your Client Base Strategic Client Growth: Win Trust in a Trust Economy More than many other fields, trust is truly the currency that drives growth for financialplanners. If you want to convert more clients, find a starving crowd!
What were financialplanners interested in reading this year? Many were looking for tips on finding prospective clients or were curious about what key performance indicators they should be tracking in their practice. 6 Effective Financial Professional Prospecting Tactics. Making the Most of Your Client Review Meetings.
Melody is the president of Townsend Financial Planning, an RIA based in Lexington, KY, that oversees $112 million in assets under management for 160 client households. My guest on today's podcast is Melody Townsend.
Billion-dollar disasters, inflation, and increased building costs mean a perfect storm is brewing for financialplanners’ risk management strategies. If the next natural disaster comes for your clients, will they be ready? Insurance in Financial Planning. Financial and Physical Well-Being. are underinsured.
If you are a student looking to make a career in finance, becoming a financialplanner is a great place to start. Financial planning is a rewarding, stable career that can give you the opportunity to help people make the most of their money. Financial planning is an ongoing process, and it is essential to stay on top of it.
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