Nerd's Eye View

NOVEMBER 28, 2024

Still others may choose a hybrid model, combining AUM fees with additional charges for other services like tax planning. Pricing the impact of financial planning can be challenging, because many of its benefits – like peace of mind – are intangible, compelling in value but difficult to match with an exact price.

Clients 246

Clients Financial Planner Fee Only Financial Planning 246

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., Read More.

Communication 246

Communication Clients Financial Planning Risk Tolerance 246

Nerd's Eye View

MARCH 3, 2025

Advisor-focused AI meeting note solution Jump has completed a $20 million funding round, which reinforces its status as the emerging market leader in the crowded AI meeting note category – a status that may only increase from here if AI meeting notes, like most established AdvisorTech categories, evolves into a "winner-take-all" market where (..)

Estate Planning 170

Estate Planning Portfolio Management Communication Planning 170

Nerd's Eye View

NOVEMBER 29, 2024

Also in industry news this week: While many financial advisors are paying close attention to the potential extension of sunsetting measures within the Tax Cuts and Jobs Act (TCJA) in the coming year, legislation related to retirement savings could be on Congress' agenda as well Fidelity is planning to change the default for its existing RIA non-retirement (..)

Financial Planner 246

Financial Planner Financial Advice Retirement Financial Advisor 246

Nerd's Eye View

JUNE 19, 2023

A better way to implement and communicate fee increases may be one that is centered around providing more value to the client in exchange for the higher fee. Read More.

Communication 246

Communication Clients Planning Financial Advisor 246

Nerd's Eye View

JANUARY 31, 2025

Also in industry news this week: While RIA M&A deal flow hit record levels in 2024 (both in terms of volume and the speed of completing them), firm valuations saw relatively modest gains In its latest annual regulatory oversight report, FINRA joined the SEC in flagging the potential risks to firm and client data from the use of third-party vendors (..)

Financial Planner 245

Financial Planner Retirement Planning Compliance Taxes 245

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.

Communication 246

Communication Retirement Clients Accounting 246

Nerd's Eye View

JULY 26, 2023

Financial plans play an important role for both clients and advisors, as they not only help clients gain a clear perspective of their current financial position, but also provide advisors with a systematic way to organize their analyses and communicate their recommendations to the client.

Financial Planning 246

Financial Planning Planning Clients Communication 246

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 244

Financial Planning Planning Estate Planning Clients 244

Nerd's Eye View

JULY 27, 2022

Financial planning is both an art and a science. 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.

Financial Planning 246

Financial Planning Planning Clients Retirement 246

Nerd's Eye View

JULY 27, 2022

Financial planning is both an art and a science. 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.

Financial Planning 246

Financial Planning Planning Clients Retirement 246

Nerd's Eye View

AUGUST 24, 2023

However, when these aspirations are delayed or blocked by senior advisory firm partners who choose to delay their retirement plans, it can leave younger advisors frustrated and in a place of uncertainty about their futures with their firm.

Retirement 246

Retirement Planning Retirement Planning Communication 246

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". In this 153rd episode of Kitces and Carl, Michael Kitces and client communication expert Carl Richards discuss how advisors can navigate the challenge of managing underpaying clients.

Clients 246

Clients Communication Financial Planning Accounting 246

Wealth Management

JULY 18, 2023

LPL is currently searching for a new CMO, with Heather Carter planning to depart after the firm’s annual advisor conference next month.

Communication 246

Communication Marketing Marketing Planning 246

Don Connelly & Associates

DECEMBER 16, 2024

Whether planning for retirement, investing in volatile markets, or managing tax implications, clients are often presented with intricate information that can leave them overwhelmed, confused, and anxious, undermining their ability to make informed decisions.

Communication 52

Communication Financial Advisor Financial Planning Clients 52

Indigo Marketing Agency

MARCH 20, 2025

Recession Concerns & Market Volatility: How Financial Advisors Should Communicate With Clients As financial advisors , youre well aware that so far the 2025 financial market has been more unpredictable than a toddler. Why Proactive Communication Matters If theres one thing more unpredictable than the markets, its human emotion.

Communication 52

Communication Financial Advisor Marketing Marketing 52

Wealth Management

DECEMBER 5, 2023

As usual, the challenge is communication.

Insurance 262

Insurance Planning Communication 262

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 244

Financial Planning Planning Financial Planner Financial Advisor 244

Nerd's Eye View

NOVEMBER 29, 2023

The traditional way that most financial planning has been offered was for an advisor to create "The Plan": a comprehensive document outlining a client's financial strategy that was delivered either on a one-time basis or updated annually.

Planning 246

Planning Financial Planning Clients Communication 246

Wealth Management

FEBRUARY 10, 2025

A recent lawsuit filed by Schlichter against Charter Communications DC plan with over $7 billion and 100,000 participants, is one of many.

Planning 188

Planning Communication 188

Nerd's Eye View

JANUARY 23, 2025

Since the emergence of Artificial Intelligence (AI) in the mainstream technological landscape, conversations about which areas of the financial planning industry would be most likely impacted by AI have proliferated.

Financial Advisor 244

Financial Advisor Clients Communication Financial Planning 244

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 11, 2023

annual plan reviews) to their current clients, they will continue to prospect and onboard new clients as well. a client service associate to handle various administrative and client communication tasks, or a paraplanner or associate advisor to work on more planning-centric issues such as building out drafts of financial plans).

Financial Planning 246

Financial Planning Planning Recruitment 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

Nerd's Eye View

NOVEMBER 14, 2023

What's unique about Eric, though, is how he leverages a custom-built financial planning assessment he calls their Financial Prosperity Index, which he gives to both prospective and ongoing current clients so that they can better understand their financial health, target the financial planning domains where clients need the most help, and even more (..)

Financial Planning 246

Financial Planning Clients Planning Financial Advisor 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. One key nuance to the use of Monte Carlo simulations is whether they are being used as part of a one-time plan versus an ongoing planning process.

Financial Planning 246

Financial Planning Planning Retirement Portfolio 246

Nerd's Eye View

JANUARY 22, 2025

Instead, acknowledging their ambivalence as a natural part of the decision-making process can help create space for them to discover the value of financial planning on their own. One effective way to facilitate this self-discovery is through self-persuasion questions.

Financial Advice 239

Financial Advice Financial Planning Retirement Clients 239

Wealth Management

JUNE 10, 2024

The AI assistant records meeting notes and turns them into automated actions from generating client communications to plan changes.

Startup 274

Startup Communication Clients Planning 274

Nerd's Eye View

FEBRUARY 24, 2025

He explains how they identified which clients were no longer profitable, developed an alternative service model to offer these clients, mentally prepared for the transition, and effectively communicated the changes. staff time, technology, and custodial fees) and indirect costs (e.g., rent, marketing, and training).

Clients 210

Clients Communication Numbers Management 210

Nerd's Eye View

MARCH 6, 2025

As such, new firms that start with low fees might make plans to raise fees quickly and, in the meantime, avoid promising clients that the fees will stay the same. And while new clients often come in at higher fees, early clients may still be paying well below the firm's current rates.

Clients 182

Clients Ethics Financial Advice Budgeting 182

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. robo-advisors) might someday replace human advisors, there are still many elements of financial planning that benefit from engagement with a human advisor.

Planning 246

Planning Financial Planning Financial Advice Clients 246

Abnormal Returns

MAY 13, 2024

riabiz.com) Creative Planning is exploring its custody options. riabiz.com) Archive Intel has entered the adviser communications archiving space. blogs.cfainstitute.org) How life events affect retirement planning. investmentecosystem.com) Reflections on eight years of running a financial planning practice.

Math 287

Math Retirement Planning Financial Advice Retirement 287

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.

Financial Planning 246

Financial Planning Planning Financial Advice Clients 246

Nerd's Eye View

NOVEMBER 30, 2022

Taxes are a central component of financial planning. Almost every financial planning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.

Tax Planning 246

Tax Planning Compliance Taxes Financial Advisor 246

Nerd's Eye View

AUGUST 26, 2024

Over the last 50 years, even the most substantial changes to occur – such as the movement away from commissions and towards fee-based compensation, and the shift from an investment-centric approach to more holistic financial planning – have taken place over decades and, in many cases, are still ongoing.

Communication 170

Communication Commission Financial Advice Planning 170

Nerd's Eye View

DECEMBER 24, 2024

In this episode, we talk in-depth about how Paul works with advisors to produce short books that can be read in 1 to 2 hours (which increases the chances that it will actually be finished), why Paul recommends advisors self-publish their books on Amazon (both because of its lower price point than using a traditional publishing firm, and because of (..)

Financial Advisor 246

Financial Advisor Clients Communication Accounting 246

Million Dollar Round Table (MDRT)

JANUARY 5, 2025

Find out how these MDRT members ask questions that challenge clients assumptions about passing on generational wealth and legacy planning. As a financial advisor, you can ask clients questions and discover the bias behind their objections. Not thinking big enough I focus on clients who are self-made business owners.

Clients 103

Clients Insurance Coverage Planning Insurance 103