Nerd's Eye View

DECEMBER 27, 2023

These responsibilities also extend to the use of any technology used in the process of giving advice: A recommendation made with the aid of technology still needs to be in the client's best interests, while the technology also needs to carry out any function as it's described in the advisor's marketing materials and client communications.

Financial Advice 246

Financial Advice Communication Compliance Clients 246

Abnormal Returns

DECEMBER 25, 2024

(etf.com) More people, mostly men, are seeking help with compulsive gambling in the stock market. wsj.com) Americans are swapping bank deposits for money market funds. wsj.com) Personal finance You need to put on your own (financial) oxygen mask first. nytimes.com) Be careful who you trust for financial advice.

Financial Advice 146

Financial Advice Retirement Taxes Insurance 146

Nerd's Eye View

JANUARY 10, 2025

Also in industry news this week: A survey indicates that nearly 71% of new financial advisors drop out in the first 5 years, with firms offering better training and mentorship opportunities (as well as entry-level positions that don't come with business development targets) seeing higher employee retention rates How broker-dealer self-regulatory organization (..)

Financial Planner 189

Financial Planner Clients Financial Advice Numbers 189

Nerd's Eye View

MARCH 27, 2023

According to the 2022 Kitces Research study, “How Financial Planners Actually Market Their Services”, advisors without the CFP marks typically spend more of their time on marketing activities relative to CFP practitioners (allowing them to spend more time on higher-value tasks). Read More.

CFP 246

CFP Clients Certification Financial Advice 246

A Wealth of Common Sense

JUNE 20, 2023

You also need a deep understanding of financial market history from booms to. You need to understand corporations and the global economy generally function over the long haul. You need an understanding of how the different asset classes behave from a risk and reward perspective.

Financial Advice 145

Financial Advice Math Economy Financial Market 145

The Big Picture

MARCH 18, 2025

This is as true for professionals as it is for amateurs; it’s also true in music, film, sports, television, and economic and market forecasting. Media Madness : Do we really need 24/7 financial advice for our investments we wont draw on for decades? The vast majority of market gains come from ~1% of all stocks.

Investing 317

Investing Investments Math Media 317

Abnormal Returns

MARCH 31, 2025

(wealthmanagement.com) Custody Dynasty Financial Partners has a custody agreement with Goldman Sachs ($GS). riabiz.com) Schwab and Fidelity are blocking investments in third party money market ETFs. citywire.com) Don't underestimate the importance of story telling in the financial advice business.

Wealth Management 146

Wealth Management Financial Advice Portfolio Management Consulting 146

Nerd's Eye View

SEPTEMBER 26, 2022

In a now-famous 1970 paper, economist George Akerlof used the market for used cars to demonstrate the negative effects that can occur when there are significant information asymmetries between buyers and sellers of a good or service. The financial advisory industry is not immune to the same problems faced in Akerlof’s used-car market.

Financial Advice 130

Financial Advice Financial Planner License Financial Advisor 130

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. comprehensive, planning-centric, fee-based advisors) versus 'bad guy' (e.g.,

Financial Advice 190

Financial Advice Clients Financial Planning Planning 190

Nerd's Eye View

MARCH 6, 2025

New financial advisors often start with below-market fees – sometimes to build confidence that prospects will actually pay, other times to attract clients quickly and establish a base. But as the firm grows, so does an advisor's skill set and the demands on their time.

Clients 182

Clients Ethics Financial Advice Budgeting 182

Nerd's Eye View

NOVEMBER 27, 2023

One of the main goals of financial advisors who market themselves is to build a foundation of trust with their prospective clients so that they feel comfortable in discussing often-sensitive financial topics and ultimately acting on the advisor's recommendations.

Distribution 246

Distribution Financial Advice Clients Financial Advisor 246

Nerd's Eye View

APRIL 15, 2025

In this episode, we talk in-depth about how Cameron's firm experienced significant client and revenue growth by serving the CEO and employees of e-commerce platform Shopify early on in its growth path (eventually leading to massive AUM growth after the company's IPO), how Cameron's firm managed to generate over 1,100 inbound leads resulting in more (..)

Financial Advisor 130

Financial Advisor Financial Advice Planning Clients 130

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). Which helps these firms attract more clients, and continue to thrive amidst competition from larger counterparts! Read More.

Financial Planning 246

Financial Planning Marketing Marketing Financial Advice 246

A Wealth of Common Sense

DECEMBER 12, 2024

We also covered questions about how AI will impact the financial advice landscape, timing the next market correction, factoring an inheritance into the house-buying process and using long-dated options in a portfolio.

Investing 108

Investing Investments Financial Advice Portfolio 108

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 228

Financial Planner Retirement Retirement Planning Clients 228

Abnormal Returns

DECEMBER 31, 2023

awealthofcommonsense.com) Putting an estimate on long term equity market returns. morningstar.com) Six lessons learned from 20 years in the business of financial advice. blairbellecurve.com) The stock market was up big in 2023, but it wasn't easy. investmenttalk.co) Another year where ignoring market forecasts paid off.

Financial Advice 295

Financial Advice Investing Investments Marketing 295

Nerd's Eye View

APRIL 16, 2025

A rapid sequence of policy announcements and reversals has created volatility across nearly every asset class, with the S&P 500 falling to near-bear-market levels before rebounding sharply. Finally, volatile markets offer a powerful opportunity for advisors to reinforce the value of financial advice.

Clients 147

Clients Financial Planning Financial Advice Planning 147

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 147

Financial Advice Ethics Financial Planning Education 147

Midstream Marketing

OCTOBER 29, 2024

Key Highlights Millennials can benefit a lot from getting financial advice. Digital marketing is very important for connecting with this tech-savvy group. You should change your marketing approach to meet the specific financial needs and interests of millennials. Right now, few of them use advisors regularly.

Financial Advisor 52

Financial Advisor Financial Advice Marketing Marketing 52

Abnormal Returns

SEPTEMBER 30, 2024

Markets The China stock market rally is very broad. sherwood.news) China's stock market is on board with economic stimulus. axios.com) The China stock market rally has gotten U.S. sherwood.news) Strategy The time to prepare for a bear market is before it is on the horizon. ETF investor attention.

Financial Advising 263

Financial Advising Financial Advice Economy Media 263

Abnormal Returns

DECEMBER 4, 2023

Ali is a corporate marketing advisor who has seen many sides of the wealth management business. standarddeviationspod.com) Brendan Frazier on getting clients to actually implement your advice. podcasts.apple.com) The biz Software is eating financial advice. riabiz.com) Demand for financial advice is only increasing.

Wealth Management 256

Wealth Management Financial Advice Financial Advising Communication 256

Nerd's Eye View

FEBRUARY 26, 2024

In the early days of the financial advice industry, an advisor's options for generating new business were somewhat limited. From there, advicers can determine if the activity is actually having any effect by measuring the number of Prospect Inquiries, or how many people reach out to learn more about what the advicer offers.

Marketing 245

Marketing Marketing Sales Clients 245

Abnormal Returns

DECEMBER 25, 2023

(riabiz.com) DPL Financial Partners is seeing growth in commission-free annuity sales. investmentnews.com) Startup Arch wants to build a better private capital markets workflow. wealthmanagement.com) Advisers Six lessons learned from 20 years in the business of financial advice. riabiz.com) When should you hire?

Financial Advising 287

Financial Advising Startup Commission Financial Advice 287

Abnormal Returns

AUGUST 26, 2024

thinkadvisor.com) RIAs continue to move up market. riabiz.com) How AI could be deployed in financial advice. (kitces.com) Matt Zeigler talks with Eben Burr of Toews Asset Management about his unique path through the industry. thinkadvisor.com) M&A Creative Planning is set up to do more, bigger deals going forward.

Taxes 262

Taxes Financial Advising Financial Advice Planning 262

Midstream Marketing

OCTOBER 30, 2024

Key Highlights The financial advice world is changing. RIAs need to update their marketing plans to stay ahead. A strong brand identity is key to getting and keeping clients in this tough market. RIAs must understand and follow SEC marketing rules to meet their ethical and legal needs.

Investment Advisor 52

Investment Advisor Investing Investments Ethics 52

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.

Clients 246

Clients Financial Advice Financial Planning Financial Advisor 246

Abnormal Returns

NOVEMBER 7, 2022

Podcast Michael Kitces talks with Mindy Crary, owner of Creative Money, about making it clear about fiduciary marketing. standarddeviationspod.com) Compliance Jason Zweig, "In 30 years of writing about the financial-advice industry, I never learned that advisers can provide less-comprehensive disclosures than stockbrokers."

Compliance 276

Compliance Wealth Management Advertising Financial Advice 276

Nerd's Eye View

MAY 2, 2024

A career as a financial advicer can be remarkably rewarding, as it offers the opportunity to have a meaningful impact on clients' lives all while making a good living. The financial advice industry is notorious for having a high failure rate among new entrants, which makes getting through the first few years crucial.

Financial Advice 240

Financial Advice Clients Communication Numbers 240

Nerd's Eye View

JANUARY 20, 2023

While it remains to be seen whether the measures will actually be enacted, proposed measures include raising income and capital gains tax rates, instituting wealth taxes, and reducing the state estate tax exemption, potentially creating future planning opportunities for advisors with clients in those states.

Financial Planner 246

Financial Planner Financial Advice Fee Only Financial Planning 246

Abnormal Returns

OCTOBER 2, 2023

wsj.com) 5%+ yields make financial advice a tougher sell. snippet.finance) Economy American households are in pretty good financial shape. wsj.com) Earlier on Abnormal Returns Adviser links: a bull market in advice. abnormalreturns.com) Are you a financial adviser looking for some out-of-the-box thinking?

Financial Advising 276

Financial Advising Financial Advice Economy Media 276

Nerd's Eye View

AUGUST 2, 2024

market during the past decade, historical data suggest that they could serve as a helpful ballast against sharp inflation-adjusted drawdowns in U.S. market during the past decade, historical data suggest that they could serve as a helpful ballast against sharp inflation-adjusted drawdowns in U.S.

Financial Planner 246

Financial Planner Financial Advice Investment Planning Planning 246

Nerd's Eye View

MAY 15, 2023

But despite this history of technological advances actually benefiting the financial advisory industry, the emergence of powerful Artificial Intelligence (AI) systems, such as ChatGPT, has raised fresh questions about the future of human-provided financial advice.

Financial Advisor 246

Financial Advisor Financial Planning Financial Advice Clients 246

Nerd's Eye View

AUGUST 2, 2024

market during the past decade, historical data suggest that they could serve as a helpful ballast against sharp inflation-adjusted drawdowns in U.S. market during the past decade, historical data suggest that they could serve as a helpful ballast against sharp inflation-adjusted drawdowns in U.S.

Financial Planner 243

Financial Planner Financial Advice Investment Planning Planning 243

Nerd's Eye View

DECEMBER 1, 2022

Financial planning technology, in particular, has allowed advisors to automate time-intensive back-office tasks and delegate routine analyses to support staff, freeing up their time to engage more personally with clients.

Planning 246

Planning Financial Planning Financial Advice Clients 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

The Big Picture

MAY 9, 2024

Bad financial advice reaches naïve, impressionable consumers of social media without any guardrails or controls. TikTokInvestors: “Apart from his misleading arrogance and the inaccurate market statistics mentioned, a 401K is possibly the best investment vehicle for the average American. The dumbest idea ever!

Media 336

Media Taxes Math Investing 336

Nerd's Eye View

DECEMBER 26, 2022

This year has been challenging for many financial advisors as they help their clients (and their own firms!) navigate a volatile market environment (in both stocks and bonds – oof!) and inflation levels not seen in several decades. In the meantime, I hope you're having a safe and happy holiday season. Read More.

Financial Advisor 245

Financial Advisor Financial Advice Estate Planning Planning 245