Nerd's Eye View

SEPTEMBER 11, 2023

When a financial advisory firm owner first starts their business, much of their time is spent on finding clients that they can serve. But as they (hopefully) onboard more clients and get busier with servicing those clients, they will also find that they eventually start to run short on time.

Financial Planning 234

Financial Planning Planning Recruitment Clients 234

Nerd's Eye View

OCTOBER 23, 2023

Many financial advisors take pride in the comprehensive nature of the advice they provide to clients and use the variety of services offered as a point of differentiation between themselves and other types of advisors. in the form of an associate planner or paraplanner) or engaging outsourced planning service providers.

Financial Planning 246

Financial Planning Planning Clients Financial Planner 246

Nerd's Eye View

OCTOBER 2, 2024

In this environment, financial advisors have the opportunity to add value for their clients not only by giving a clear explanation about the current status of Social Security and the potential legislative changes that could improve its solvency, but also by modeling what (realistic) changes would mean for their clients' financial plans.

Retirement 246

Retirement Clients Financial Planning Taxes 246

Nerd's Eye View

DECEMBER 21, 2022

Monte Carlo simulations have become the dominant method for conducting financial planning analyses for clients and are a feature of most comprehensive financial planning software programs.

Financial Planning 246

Financial Planning Planning Retirement Portfolio 246

Nerd's Eye View

MAY 14, 2024

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 240

Clients Financial Planning Financial Advisor Planning 240

Nerd's Eye View

FEBRUARY 23, 2023

The increasing popularity of financial planning has led to a growing awareness of how important managing finances and planning for the future can be. 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 206

Financial Planning Planning Financial Planner Financial Advisor 206

Nerd's Eye View

NOVEMBER 21, 2022

A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.

Financial Planning 209

Financial Planning Planning Estate Planning Clients 209

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. However, the results of these simulations generally don't account for potential adjustments that could be made along the way (e.g.,

Communication 240

Communication Clients Risk Tolerance Financial Planning 240

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.

Clients 225

Clients Financial Planning Planning Compliance 225

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. And while few (if any!)

Clients 243

Clients Risk Tolerance Financial Planning Planning 243

Million Dollar Round Table (MDRT)

OCTOBER 8, 2024

Too many financial advisors have become simply wealth managers, not realizing that insurance is the foundation of a financial plan. It’s crucial we make sure that this foundation is strong enough to support clients financially, no matter what happens.

Financial Planning 89

Financial Planning Insurance Planning Wealth Management 89

Don Connelly & Associates

SEPTEMBER 2, 2024

In today's saturated market, financial advisors must offer holistic financial planning for several reasons: It's a sure way to differentiate themselves from those who only offer investment management. It can build deeper, more trusting relationships with clients, and it leads to better financial outcomes for clients.

Financial Planning 52

Financial Planning Financial Advisor Planning Communication 52

Nerd's Eye View

APRIL 29, 2024

Financial advisors add value for their clients not only by helping them grow their wealth, but also by working with them to create a plan for how to use it. While much of this process may focus on the client's own lifetime planning needs (e.g.,

Estate Planning 242

Estate Planning Clients Planning Financial Advisor 242

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. Then, by assessing the bottom-line impact of reaching their goal on their financial plan (e.g.,

Clients 239

Clients Financial Planning Communication Financial Advisor 239

Nerd's Eye View

NOVEMBER 6, 2024

In the early days of financial planning, serving clients often meant developing transactional relationships focused on facilitating trades and selling insurance. Over time, advisors shifted toward more analytical approaches, such as investment management and retirement planning.

Clients 130

Clients Planning Financial Planner Financial Planning 130

Nerd's Eye View

SEPTEMBER 3, 2024

Welcome to the 401st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Zack Hubbard. Read More.

Financial Planning 130

Financial Planning Planning Retirement Planning Financial Advisor 130

Nerd's Eye View

AUGUST 16, 2023

Financial advisors create value for clients not only by giving good advice, but also by ensuring that the advice they give is actually implemented. In this guest post, Derek Hagen, financial behavior expert and founder of financial therapy and life planning firm Money Health Solutions, explains why change (e.g.,

Clients 223

Clients Financial Planning Planning Financial Advisor 223

Nerd's Eye View

SEPTEMBER 30, 2024

When it comes to focusing on a niche for financial advisors, business owner clients can be an appealing target as they can have complex financial planning problems ranging from cash flow management to tax planning to acquisition strategies.

Financial Advisor 194

Financial Advisor Clients Financial Planning Tax Planning 194

eMoney Advisor

DECEMBER 6, 2022

Billion-dollar disasters, inflation, and increased building costs mean a perfect storm is brewing for financial planners’ 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.

Financial Planning 97

Financial Planning Clients Planning Estate Planning 97

Nerd's Eye View

JUNE 28, 2023

One of the key steps in the financial planning process is presenting the plan to the client, which has traditionally been done as part of a single 'plan presentation' meeting that takes place once the advisor has gathered and analyzed all of the client's data.

Planning 245

Planning Clients Financial Planning Education 245

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.

Clients 238

Clients Financial Planning Planning Communication 238

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).

Consulting 130

Consulting Clients Financial Planning Compensation Planning 130

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.

Clients 234

Clients Communication Healthcare Planning 234

Nerd's Eye View

SEPTEMBER 21, 2022

So for advisors, it may be worth exploring whether there is anything to be learned from Ramsey's approach to financial advice – even if they may disagree on the details, advisors may find in Ramsey's advice a new and perhaps better way to communicate with (and motivate) clients. Read More.

Financial Planning 246

Financial Planning Planning Financial Advice Clients 246

eMoney Advisor

FEBRUARY 9, 2023

If you are looking for opportunities to grow your business, expanding your services to clients at all stages of the financial planning lifecycle creates new opportunities for you to reach those households in search of professional advice. Starting Out clients are typically focused on beginning to build wealth.

Financial Planning 95

Financial Planning Clients Planning Education 95

Nerd's Eye View

JUNE 24, 2024

The requirements to run a successful, growing advisory firm are often less about doing the technical work with clients and more about marketing value to get prospects in the door in the first place. Which means that advisors should not be expected to champion the planning industry alone when prospecting for clients.

Financial Advice 189

Financial Advice Clients Financial Planning Planning 189

XY Planning Network

JULY 8, 2024

The rise of new tools, such as the Elements Financial Vitals System and AssetMap, aims to move from complex, comprehensive projections to more digestible summaries that facilitate great client conversations. So, which planning software should you use? Let's take a look!

Financial Planning 93

Financial Planning Planning Financial Advice Clients 93

Nerd's Eye View

JULY 11, 2024

It's generally accepted in the financial planning world that people don't typically wake up in the middle of the night because they've realized they need a comprehensive financial plan. And with clear goals , the advicer can then ask about the client's current state, identifying what they owe and what they own.

Clients 175

Clients Communication Financial Planning Financial Advice 175

Nerd's Eye View

MARCH 7, 2024

For many financial advisors, the traditional way of doing business has generally been based on a transaction-based service model involving functional solutions to clients' practical problems.

Financial Planning 130

Financial Planning Planning Clients Marketing 130

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 219

Clients Financial Planning Financial Advice Retirement 219

Nerd's Eye View

NOVEMBER 8, 2023

For instance, after a lifetime of 'maximizing' their finances (likely seeing their net worth increase steadily over time), some clients might find it difficult to see their portfolio balances decline in retirement as they draw down their assets to support their lifestyles. On the behavioral side, clients could 'practice' retirement (e.g.,

Retirement 237

Retirement Clients Planning Food 237

Nationwide Financial

OCTOBER 14, 2022

Whether your client has young children of their own, teenage grandkids heading to college, or wants to help finance college for someone else in the family, it’s wise to encourage your clients to create a financial plan for doing so. There are many strategies to consider, depending on your clients needs.

Financial Planning 64

Financial Planning Clients Planning Taxes 64

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 232

Clients Financial Planning Financial Planner Communication 232

Nerd's Eye View

SEPTEMBER 13, 2023

Instead, advisors can take a more direct approach in introducing the next steps to becoming a client during a discovery meeting to keep the momentum going and potentially increase the chances that the prospect will become a client. Read More.

Financial Planning 244

Financial Planning Sales Planning Financial Advisor 244

eMoney Advisor

NOVEMBER 14, 2022

Financial professionals are forever searching for better ways to serve clients and grow their businesses. Our research shows that advisors who adopt a planning-led approach are able to offer more complex plans to more people—and charge a premium for those plans. They experience better planning outcomes.

Financial Planning 88

Financial Planning Clients Planning License 88

Nerd's Eye View

FEBRUARY 20, 2023

One of the most important parts of a financial advisor’s value proposition is time spent meeting with their clients. These meetings allow advisors to listen to their clients’ concerns, make planning recommendations, and chart a course for the coming months.

Clients 246

Clients Financial Planning Planning Financial Advisor 246

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.

Clients 241

Clients Communication Financial Planning Retirement 241