Nerd's Eye View

DECEMBER 1, 2022

As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. However, as advisor technology continues to evolve, many tools have focused on helping advisors scale their financial advice to accommodate growing businesses.

Planning 246

Planning Financial Planning Financial Advice Clients 246

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. Though many potentially valid criticisms of this process tend to concern technical details (e.g.,

Financial Planning 246

Financial Planning Planning Financial Advice Clients 246

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 171

Communication Clients Financial Planning Planning 171

Abnormal Returns

OCTOBER 30, 2023

(riaintel.com) How AI will play a role in the provision of financial advice. wsj.com) Family Communication is important for every family, but especially for the wealthy. thinkadvisor.com) Blended families don't plan their money lives in advance. thinkadvisor.com) 7 things that clients hate that financial advisers do.

Wealth Management 263

Wealth Management Retirement Planning Financial Advising Financial Advice 263

Abnormal Returns

DECEMBER 4, 2023

standarddeviationspod.com) Brendan Frazier on getting clients to actually implement your advice. podcasts.apple.com) The biz Software is eating financial advice. thereformedbroker.com) How financial advisers can publish their own book. riabiz.com) Demand for financial advice is only increasing.

Wealth Management 258

Wealth Management Financial Advice Financial Advising Communication 258

Nerd's Eye View

AUGUST 26, 2024

For most of its history, the financial advice industry has been very slow to change. Additionally, those promoting change can be very clear about what the process will entail and how it will be implemented (with the caveat that the plan needs to be flexible to allow for change as conditions evolve).

Communication 170

Communication Commission Financial Advice Planning 170

Nerd's Eye View

AUGUST 15, 2022

By helping clients develop financial goals, creating a financial plan, and supporting the implementation and monitoring of the plan, advisors help clients live their best lives. Pro bono financial planning refers to free, no-strings-attached financial advice and planning for underserved people.

Clients 240

Clients Financial Advice Financial Planning Planning 240

MainStreet Financial Planning

FEBRUARY 1, 2024

During recent conversations, I’ve come across several people unfamiliar with the concept of fee-only financial planning, let alone considering it as a feasible choice. To shed light on this, I want to articulate the distinctive approach we use at MainStreet Financial Planning.

Financial Advice 98

Financial Advice Planning Fee Only Financial Planning 98

Nerd's Eye View

OCTOBER 16, 2023

Consumers have a wide range of options when it comes to choosing a provider of financial advice, from larger wirehouses and asset managers to smaller Registered Investment Advisers (RIAs).

Financial Planning 246

Financial Planning Marketing Marketing Financial Advice 246

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 246

Financial Planner Compliance Fee Only Communication 246

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.

Planning 246

Planning Financial Advice Financial Planning Clients 246

Nerd's Eye View

AUGUST 15, 2022

By helping clients develop financial goals, creating a financial plan, and supporting the implementation and monitoring of the plan, advisors help clients live their best lives. Pro bono financial planning refers to free, no-strings-attached financial advice and planning for underserved people.

Clients 227

Clients Financial Advice Financial Planning Planning 227

Nerd's Eye View

SEPTEMBER 13, 2023

In particular, financial advisors who offer ongoing services to clients can focus on 3 key areas that are unique to service-based sales as part of a successful sales strategy.

Financial Planning 246

Financial Planning Sales Planning Financial Advisor 246

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. These clients may just need someone to talk to, and the advisor can help by providing reassurance on the status of their financial plan.

Clients 246

Clients Financial Advisor Financial Advice Financial Planning 246

Nerd's Eye View

SEPTEMBER 1, 2023

Also in industry news this week: A legal challenge to FINRA's operations as a self-regulatory organization has the potential to upend the current regulatory system for broker-dealers and their registered representatives A recent study indicates that while many consumers appear confident handling their finances on a 'DIY' basis during their careers, (..)

Financial Planner 246

Financial Planner Strategic Planning Retirement Planning Retirement 246

Nerd's Eye View

MAY 15, 2023

But in reality, none of these advances meant the end for the advice industry; rather, they often made financial advisors more productive by increasing their efficiency with back-office tasks from producing financial planning calculations more quickly and accurately to being able to serve more clients across the country.

Financial Advisor 246

Financial Advisor Financial Planning Financial Advice Clients 246

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 234

Financial Planner Retirement Planning Retirement Insurance 234

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!)

Clients 246

Clients Financial Planning Financial Advice Retirement 246

Nerd's Eye View

AUGUST 15, 2023

Welcome back to the 346th episode of the Financial Advisor Success Podcast ! Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.

Fee Only 246

Fee Only Clients Financial Planning Financial Advisor 246

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.

Clients 189

Clients Communication Financial Planning Financial Advice 189

Nerd's Eye View

APRIL 4, 2024

Ultimately, the key point is that there are a number of ways that the financial planning industry can tackle the looming spike in demand for new advisors without imposing an artificial obligation on advisors, which, if not met, would imply a deficiency in professional duty.

Financial Planner 246

Financial Planner CFP Professional Services Financial Planning 246

Nerd's Eye View

JANUARY 22, 2024

For example, an advisor may think of "risk management" in terms of life and property insurance coverage, whereas HNW clients may instead think of tax and estate-planning strategies as asset protection measures – particularly for the future wealth of their heirs.

Financial Advisor 246

Financial Advisor Insurance Coverage Estate Planning Charitable Planning 246

Nerd's Eye View

AUGUST 24, 2022

a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., The agreement should also lay out some acknowledgments for the client to review.

Electronics 242

Electronics Clients Retirement Planning Financial Advice 242

Nerd's Eye View

AUGUST 24, 2022

a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., The agreement should also lay out some acknowledgments for the client to review.

Electronics 238

Electronics Clients Retirement Planning Financial Advice 238

Nerd's Eye View

SEPTEMBER 8, 2022

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. developing a valuable offering for consumers.

Financial Planner 189

Financial Planner Financial Advice Financial Advisor Financial Planning 189

Nerd's Eye View

OCTOBER 19, 2023

And for financial advisors who want to offer planning services to individuals who may not have the means to work with a financial advisor on an ongoing basis, specializing in certain niches can even prove lucrative enough to profitably sustain incorporating pro bono or low-cost services as part of their practice. Read More.

Clients 246

Clients Financial Advisor Financial Advice Financial Services 246

Nerd's Eye View

MARCH 23, 2023

Offering financial advice can mean many things for different financial advisors, and there are many reasons that advisors choose to join the planning profession.

Financial Advice 130

Financial Advice Communication Financial Planning Marketing 130

Nerd's Eye View

AUGUST 22, 2024

The unique dynamic of presenting fees to clients can be heightened when an advisor offers life planning, which may involve multiple meetings to truly understand the prospect's situation before the advisor even presents the fee for an in-depth plan. Read More.

Planning 100

Planning Financial Advice Communication Clients 100

Midstream Marketing

OCTOBER 29, 2024

Key Highlights Millennials can benefit a lot from getting financial advice. You should change your marketing approach to meet the specific financial needs and interests of millennials. Listen to their concerns and adjust your financial advice to align with their goals. Right now, few of them use advisors regularly.

Financial Advisor 52

Financial Advisor Financial Advice Marketing Marketing 52

Nerd's Eye View

APRIL 18, 2024

For over a decade, the financial advice industry has been bracing for an "any-minute-now" tsunami of advisor retirements and concomitant sales of financial planning practices. Which begs the question, to what extent should an advisory firm owner discount the sale price of their firm for a next-gen successor?

Planning 130

Planning Valuation Sales Clients 130

Abnormal Returns

MARCH 6, 2023

Podcasts Christine Benz and Jeff Ptak talk with Stacy Francis who is president and CEO of Francis Financial about working with female clients. morningstar.com) Brendan Frazier talks with Ted Klontz about how to better motivate, communicate and connect with clients and prospects. thinkadvisor.com)

Compliance 147

Compliance Wealth Management CFP Financial Advice 147

Midstream Marketing

OCTOBER 30, 2024

Key Highlights The financial advice world is changing. RIAs need to update their marketing plans to stay ahead. They need to put in more effort to attract prospective clients looking for financial advice. Understanding the Marketing Landscape for RIAs The world of financial advice is changing fast.

Investment Advisor 52

Investment Advisor Investing Investments Ethics 52

Nerd's Eye View

DECEMBER 6, 2022

Natalie is the owner of Natalie Taylor Consulting Services, an independent virtual RIA, and is also the Head of Financial Advice for Monarch Money, a personal financial management tool that helps consumers track their spending and net worth over time.

Clients 130

Clients Financial Advice Financial Advisor Consulting 130

Nerd's Eye View

MAY 16, 2024

In the initial stages of their careers, many financial advicers find that, with little revenue coming in and less than a full load of client-facing work to do, they spend the majority of their time on operations and marketing as they try to establish their practice.

Financial Advice 130

Financial Advice Clients Communication Financial Planning 130

Walkner Condon Financial Advisors

JUNE 2, 2023

The importance of getting women into financial planning feels like it should go without saying. Unfortunately, we’re not quite there yet as a society, since as of 2022, the Bureau of Labor Statistics reports only a third of financial advisors are women. In 2022, nearly 42% of the externships participants were women.

Financial Planning 98

Financial Planning Planning CFP Financial Advisor 98

Nerd's Eye View

AUGUST 12, 2024

In the modern era of financial advice, the advicer/client relationship is tightly centered on trust.

Clients 246

Clients Financial Advice Accounting Business Planning 246

eMoney Advisor

FEBRUARY 9, 2023

Of an estimated 104 million households seeking some level of financial advice, 88 million of those households want that advice from a financial professional. In this overview, we will explore the demographics of each stage, the financial planning needs of people in each stage, and strategies for serving them.

Financial Planning 95

Financial Planning Clients Planning Education 95