Clients, Financial Advice and Retirement - Financial Advisor Source

How Much Does Having The ‘Right’ Capital Market Assumptions Matter In Retirement Planning?

Nerd's Eye View

DECEMBER 11, 2024

"How much can I spend in retirement?" is perhaps the most fundamental question a client brings to their advisor. Advisors want to help clients set a secure, reliable retirement plan, yet even the most comprehensive assumptions will inevitably deviate from reality at least to some degree.

Retirement Planning

Retirement Planning Retirement Planning Marketing

Gathering Feedback That Counts: Crafting Client Surveys To Offer Services That Matter Most

Nerd's Eye View

MARCH 10, 2025

Financial advicers often market their comprehensive financial services as a way to differentiate themselves from other advisory firms and to stand out in the broader landscape of financial advice. While advisors may make educated guesses about client preferences, this approach has its limits.

Clients

Clients Financial Advice Retirement Planning Financial Services

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

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."). However, not all prospects have immediate financial concerns. However, not all prospects have immediate financial concerns. Read More.

Financial Advice

Financial Advice Financial Planning Retirement Clients

Webinars

Book of Secrets on the Month-End Close

What Your Financial Statements Are Telling You—And How to Listen!

Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

MORE WEBINARS

Weekend Reading For Financial Planners (November 30–December 1)

Nerd's Eye View

NOVEMBER 29, 2024

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.

Financial Planner

Financial Planner Financial Advice Retirement Financial Advisor

Weekend Reading For Financial Planners (March 29–30)

Nerd's Eye View

MARCH 28, 2025

Which suggests that, amidst ongoing debate over fiduciary-related regulations, an advisor's status as a fiduciary could both lead to greater client trust (both in their individual advisor relationship and perhaps in the financial advice industry as a whole) and, ultimately, higher client retention rates.

Financial Planner

Financial Planner Retirement Retirement Planning Clients

Weekend Reading For Financial Planners (February 8–9)

Nerd's Eye View

FEBRUARY 7, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that CFP Board CEO Kevin Keller this week announced his plans to retire and step down from his position at the end of April next year.

Financial Planner

Financial Planner CFP Financial Planning Retirement

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Nerd's Eye View

APRIL 8, 2025

Seth is the founder of Heartwood Financial Planning, an advisory firm affiliated with PlanMember Securities Corporation that is based in Fresno, California, and oversees approximately $100 million in assets under management for 850 client households.

Financial Planning

Financial Planning Clients Planning Financial Advisor

Adviser links: in times like these

Abnormal Returns

APRIL 7, 2025

Podcasts Michael Kitces talks with Nick Rodkin, managing partner of Stoic Financial, about working with client couples. kitces.com) Matt Zeigler talks with Danika Waddell, founder of Xena Financial Planning. epsilontheory.com) Aging How financial literacy declines with age. alphaarchitect.com)

Fiduciary Duty

Fiduciary Duty Financial Advice Financial Planning Clients

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. So too does the impact of the infamous daily latte.

Clients

Clients Financial Advice Financial Planning Financial Advisor

Adviser links: dissolving structures

Abnormal Returns

FEBRUARY 24, 2025

Podcasts Christine Benz and Amy Arnott talk with Preston Cherry, author of a new book "Wealth in the Key of Life: Finding Your Financial Harmony." morningstar.com) Carl Richards and Michael Kitces on whether a client should take time before coming on as a client. How to do better for clients.

Wealth Management

Wealth Management Retirement Planning Financial Advice Clients

Adviser links: objectives and aspirations

Abnormal Returns

MAY 13, 2024

blogs.cfainstitute.org) How life events affect retirement planning. papers.ssrn.com) Advisers There is an tension inherent in the practice of financial advice. investmentecosystem.com) Reflections on eight years of running a financial planning practice. kitces.com) How one advisory firm uses Salesforce.

Math

Math Retirement Planning Financial Advice Retirement

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.

Clients

Clients Financial Planning Financial Advice Retirement

Adviser links: exciting plans

Abnormal Returns

SEPTEMBER 18, 2023

Podcasts Daniel Crosby talks with Michael Kitces about automation and the future of financial advice. kitces.com) Brendan Frazier talks with Samantha Lamas and Danielle Labotka about why clients hire and fire their financial advisers. wsj.com) Advisers How to speak to clients in a way that they understand.

Planning

Planning Financial Advice Wealth Management Math

Adviser links: limited progress

Abnormal Returns

JANUARY 15, 2024

(riabiz.com) Why women are still struggling to make progress in the world of financial advice. riaintel.com) HNW clients want additional services. obliviousinvestor.com) It's hard to say you are a holistic financial adviser without tax management. kitces.com) Client's lives are growing more complex.

Financial Planner

Financial Planner Wealth Management Retirement Planning Financial Advising

Adviser links: getting really clear

Abnormal Returns

APRIL 1, 2024

youtube.com) Christine Benz and Amy Arnott talk with Peter Mallouk, President and CEO of Creative Planning, about the 'messy' business of financial advice. getelements.com) Brendan Frazier talks about the importance of listening as a financial adviser. thinkadvisor.com) Not everyone is happier in retirement.

Wealth Management

Wealth Management Math Retirement Retirement Planning

Adviser links: building an enduring franchise

Abnormal Returns

OCTOBER 7, 2024

(riabiz.com) Charles Schwab Charles Schwab ($SCHW) CEO Wal Bettinger is retiring. advisorservices.schwab.com) Advisers More people say they are willing to pay for financial advice. citywire.com) How to help clients understand the state of Social Security. kitces.com) How to choose a name for your practice.

Compliance

Compliance Wealth Management Financial Advice Government

Rebuilding The Kitces Members Section And The State Of The (Nerd’s Eye View) Blog

Nerd's Eye View

JANUARY 13, 2025

With another strong year in the markets, most advisory firms are near or at record highs for their revenue, their numbers of clients, and the headcounts of their teams. Which is surprising to some, given that a decade ago, the emergence of so-called "robo-advisors" was supposed to displace human financial advisors and compress advisory fees.

Financial Advice

Financial Advice Ethics Financial Planning Education

Adviser links: demonstrating confidence

Abnormal Returns

OCTOBER 30, 2023

Podcasts Brendan Frazier talks with Jake Northrup of Experience Your Wealth about how he infuses the human side to help clients live their ideal life. podcasts.apple.com) Michael Kitces talks with Sarah-Catherine Gutierrez, founder of Aptus Financial, about operating as a flat-fee advice-only firm.

Wealth Management

Wealth Management Retirement Planning Financial Advising Financial Advice

Adviser links: loving encouragement

Abnormal Returns

JULY 29, 2024

Podcasts Josh and Michael talk with Alec Crawford, CEO of AI Risk, about the future of financial advice, how AI will be used by most advisors, and the critical role of AI cybersecurity in the financial industry (youtube.com) Michael Kitces talks with John Bowen, CEO and founder of CEG Worldwide and CEG Insights, about what makes advisory firms work.

Financial Advice

Financial Advice Clients Retirement Management

How RIAs Can Craft An Effective Operating Agreement That Aligns Owners’ Interests And Mitigates Risks

Nerd's Eye View

JANUARY 29, 2025

While some RIA owners might be tempted to prioritize moving quickly to the more enjoyable work of providing financial advice, neglecting to thoughtfully draft and update an operating agreement can lead to mismatched expectations, legal risks, and costly disputes.

Distribution

Distribution Government Financial Advice Planning

How RIAs Can Craft An Effective Operating Agreement That Aligns Owners’ Interests And Mitigate Risks

Nerd's Eye View

JANUARY 29, 2025

While some RIA owners might be tempted to prioritize moving quickly to the more enjoyable work of providing financial advice, neglecting to thoughtfully draft and update an operating agreement can lead to mismatched expectations, legal risks, and costly disputes.

Distribution

Distribution Government Financial Advice Planning

Adviser links: forces you cannot control

Abnormal Returns

DECEMBER 25, 2023

(wealthmanagement.com) Advisers Six lessons learned from 20 years in the business of financial advice. morningstar.com) Wealthy couples have some tax levers to pull in retirement. advisorperspectives.com) Do financial advisers recommend annuities to their clients? riabiz.com) When should you hire? kitces.com)

Financial Advising

Financial Advising Startup Commission Financial Advice

Weekend Reading For Financial Planners (October 28-29)

Nerd's Eye View

OCTOBER 27, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)

Financial Planner

Financial Planner Financial Advice Financial Advisor Tax Planning

Adviser links: after-tax returns

Abnormal Returns

AUGUST 26, 2024

Podcasts Jill Schlesinger talks with Blair duQuesnay of RWM about her path as a financial adviser. youtube.com) Michael Kitces talks with Kelli Kiemle, Managing Director of Growth and Client Experience of Halbert Hargrove, about maintaining culture across a remote firm. riabiz.com) How AI could be deployed in financial advice.

Taxes

Taxes Financial Advising Financial Advice Planning

Weekend Reading For Financial Planners (September 16-17)

Nerd's Eye View

SEPTEMBER 15, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey indicates financial advisors are the most trusted source of financial advice for consumers across generations, and are particularly trusted among wealthier individuals.

Financial Planner

Financial Planner Retirement Retirement Planning Advertising

Weekend Reading For Financial Planners (September 14–September 15)

Nerd's Eye View

SEPTEMBER 13, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC this week fined 4 RIAs for violations of its marketing rule related to their claims that they offered 'conflict-free' financial advice.

Financial Planner

Financial Planner Compliance Fee Only Communication

Weekend Reading For Financial Planners (July 15-16)

Nerd's Eye View

JULY 14, 2023

Weekend Reading For Financial Planners (September 2-3)

Nerd's Eye View

SEPTEMBER 1, 2023

Weekend Reading For Financial Planners (July 6-7)

Nerd's Eye View

JULY 5, 2024

Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financial advice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), (..)

Financial Planner

Financial Planner Retirement Commission Financial Advice

Why Checklist-Style Financial Planning Works: What Advisors Can Learn From Dave Ramsey’s Baby Steps

Nerd's Eye View

SEPTEMBER 21, 2022

There are many financial advisors who take issue with the financial advice offered by popular personal finance personalities such as Dave Ramsey. the ideal size for an emergency fund, how much income should really be saved for retirement, etc.), Read More.

Financial Planning

Financial Planning Planning Financial Advice Clients

Using Reflection Questions To Help Prospects Find Clarity And Focus On A Shared Planning Vision

Nerd's Eye View

FEBRUARY 28, 2024

Initial outreach to a financial advicer rarely (if ever) results from a prospective client waking up in the middle of the night in a cold sweat because they just figured out that they're in desperate need of a comprehensive financial plan. Read More.

Planning

Planning Financial Advice Financial Planning Clients

Weekend Reading For Financial Planners (Oct 22-23)

Nerd's Eye View

OCTOBER 21, 2022

Enjoy the current installment of “Weekend Reading For Financial Planners” - 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.

Financial Planner

Financial Planner Retirement Planning Retirement Insurance

Weekend Reading For Financial Planners (October 21-22)

Nerd's Eye View

OCTOBER 20, 2023

Weekend Reading For Financial Planners (July 29-30)

Nerd's Eye View

JULY 28, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that RIAs appear to be building more comprehensive and more integrated tech stacks, and are benefiting from greater operational efficiencies, according to the latest Schwab RIA Benchmarking Study, with larger firms (..)

Financial Planner

Financial Planner Financial Advisor Retirement Planning Financial Advice

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.

Communication

Communication Clients Financial Planning Planning

Unlocking Accessible Financial Advice The Garrett Planning Network Advantage

MainStreet Financial Planning

FEBRUARY 1, 2024

Here is what makes us different: Hourly, Fee-Only Service: We operate on an hourly or, flat, fee-only basis, ensuring transparency and alignment of interests with our clients. Importantly, we do not accept sales commissions or any compensation beyond what is directly agreed upon with our clients.

Financial Advice

Financial Advice Planning Fee Only Financial Planning

Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Nerd's Eye View

MAY 8, 2023

Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. Besides the fact that many financial advisors don’t hold the necessary credentials (e.g., by tailoring client data-gathering worksheets to focus on the information that is relevant to a client’s tax situation).

Taxes

Taxes Financial Planning Financial Advisor Clients

Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

Nerd's Eye View

AUGUST 24, 2022

Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. The agreement should also lay out some acknowledgments for the client to review.

Electronics

Electronics Clients Retirement Planning Financial Advice

#FASuccess Ep 405: When Being ‘Youthful’ Turns From A Liability To An Asset In Building Your (Long-Term) Advisory Business, With Gaetano Sacco

Nerd's Eye View

OCTOBER 1, 2024

Gaetano is a partner and senior financial advisor at Fountainhead Advisors, an RIA based in Warren, New Jersey, that oversees approximately $900 million in assets under management for 1,000 client households.

Assets

Assets Financial Advisor Insurance Clients

When clients won’t act: Explain insurance is pennies on the dollar

Million Dollar Round Table (MDRT)

AUGUST 18, 2024

By Antoinette Tuscano, MDRT senior content specialist Sometimes clients don’t understand the price for success is taxes, which their family would need to pay on the estate after the client dies. Outline options First, let clients know how their retirement will be funded.

Clients

Clients Insurance CFP Financial Advice

When Does A Financial Coach Need To Register As An Investment Adviser? The “ABCS” Test To Determine Status

Nerd's Eye View

DECEMBER 6, 2023

Notably, while many financial coaches satisfy the majority of these requirements – they are in the business of offering advice to clients and are compensated as such – they often steer clear of making specific securities recommendations, focusing instead on areas like budgeting, debt management, savings, and retirement planning.

Investing

Investing Investments Retirement Planning Financial Advising

Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

Nerd's Eye View

AUGUST 24, 2022

Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. The agreement should also lay out some acknowledgments for the client to review.

Electronics

Electronics Clients Retirement Planning Financial Advice

Weekend Reading For Financial Planners (August 3-4)

Nerd's Eye View

AUGUST 2, 2024

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a Federal district court in Texas has put a stay on the effective date of the Department of Labor’s (DoL’s) new Retirement Security Rule (aka “Fiduciary Rule 2.0”),

Financial Planner

Financial Planner Financial Advice Investment Planning Planning

Weekend Reading For Financial Planners (Aug. 3-4)

Nerd's Eye View

AUGUST 2, 2024

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a Federal district court in Texas has put a stay on the effective date of the Department of Labor’s (DoL’s) new Retirement Security Rule (aka “Fiduciary Rule 2.0”),

Financial Planner

Financial Planner Financial Advice Investment Planning Planning

How Much Does Having The ‘Right’ Capital Market Assumptions Matter In Retirement Planning?

Gathering Feedback That Counts: Crafting Client Surveys To Offer Services That Matter Most

Webinars

Trending Sources

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

Webinars

Weekend Reading For Financial Planners (November 30–December 1)

Weekend Reading For Financial Planners (March 29–30)

Weekend Reading For Financial Planners (February 8–9)

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Adviser links: in times like these

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

Adviser links: dissolving structures

Adviser links: objectives and aspirations

Kitces & Carl Ep 134: Helping Clients Who Can’t Ever Get To ‘Enough’ (And When They Don’t Really Want To)

Adviser links: exciting plans

Adviser links: limited progress

Adviser links: getting really clear

Adviser links: building an enduring franchise

Rebuilding The Kitces Members Section And The State Of The (Nerd’s Eye View) Blog

Adviser links: demonstrating confidence

Adviser links: loving encouragement

How RIAs Can Craft An Effective Operating Agreement That Aligns Owners’ Interests And Mitigates Risks

How RIAs Can Craft An Effective Operating Agreement That Aligns Owners’ Interests And Mitigate Risks

Adviser links: forces you cannot control

Weekend Reading For Financial Planners (October 28-29)

Adviser links: after-tax returns

Weekend Reading For Financial Planners (September 16-17)

Weekend Reading For Financial Planners (September 14–September 15)

Weekend Reading For Financial Planners (July 15-16)

Weekend Reading For Financial Planners (September 2-3)

Weekend Reading For Financial Planners (July 6-7)

Why Checklist-Style Financial Planning Works: What Advisors Can Learn From Dave Ramsey’s Baby Steps

Using Reflection Questions To Help Prospects Find Clarity And Focus On A Shared Planning Vision

Weekend Reading For Financial Planners (Oct 22-23)

Weekend Reading For Financial Planners (October 21-22)

Weekend Reading For Financial Planners (July 29-30)

Kitces & Carl Ep 143: Taking Over Clients From An Advisor With A Different Personality And Communication Style

Unlocking Accessible Financial Advice The Garrett Planning Network Advantage

Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

#FASuccess Ep 405: When Being ‘Youthful’ Turns From A Liability To An Asset In Building Your (Long-Term) Advisory Business, With Gaetano Sacco

When clients won’t act: Explain insurance is pennies on the dollar

When Does A Financial Coach Need To Register As An Investment Adviser? The “ABCS” Test To Determine Status

Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include

Weekend Reading For Financial Planners (August 3-4)

Weekend Reading For Financial Planners (Aug. 3-4)

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