Bring on a junior adviser at least five to seven years prior to retirement, to give both the adviser and clients time to acclimate to the role and those important relationships.
It’s not easy to tell which prospects are going to pose problems — but it’s definitely easier to say no to a prospect than to terminate a client later.
The deluge of information available about investing has driven many young people to gravitate toward the largest, loudest and most popular financial influencers on various message boards and online video channels.
Claims that crypto is 'untraceable' and the 'perfect tax haven' have been exploded. Those who bought into this mythology have to decide what to do.
The No. 1 reason given for the increase in advisory firm M&A is the desire to create a succession plan. Advisers nearing retirement should consider their alternatives.
Investors could benefit from investing in a lower-duration, diversified fixed-income solution that invests in high income-producing sectors, such as high-quality high yield or emerging market debt.
American Express Co. believes a consumer may want to create a full financial plan, complete with toggles for job promotions and inflation as well as important life events. They're not the only company that thinks so.
People already use retirement savings to manage short-term needs through 401(k) plan loans, hardship withdrawals and by cashing out during job transitions. Any retirement legislation should include provisions for emergency savings.
For crypto-skeptic advisers, the fact that the ban proved to be a tempest in a teapot should be a wake-up call. Crypto as an asset class is here to stay.
Advisers' biographies tend to be generic, filled with jargon and acronyms. Write a bio that gives prospects the information they need to decide whether they want to talk with you.
The compliance friction points that advisers detest the most are almost always centered around marketing.
Client risk profiles can be messy and complex, and even the language is confusing. Here are guidelines advisers can use to properly vet the tools they use to create client risk profiles.
Just 10 years ago, there was little crossover between securities and insurance, as insurance agents, health insurance agents and Wall Street advisers traditionally stayed in separate lanes. But that has started to change.
Advisers can use their tech stack to seamlessly track the opportunities best suited for each client and recommend appropriate actions that result in long-term change.
With valuations of financial planning and wealth management shops at record highs and private equity focusing on the space, it would seem prudent for firms to at least research their options.
Advances in technology and the deployment of Monte Carlo in financial planning means these solutions can support advisers creating stronger, more personalized financial plans.
Deep-in-debt clients were hoping for a magic solution I didn't have, and didn't appreciate the advice I was able to give them.
As changes bring about increased risks, RIAs need to recognize that insurance is a vital component of their risk management strategy.
It seems as though the pandemic should have provided the motivation for advisers to address their continuity needs.
I believe we can fundamentally change people’s lives for the better through financial advice.
