Investment management often requires that financial advisors address sensitive topics with their clients, but the stakes can be high in periods of market volatility. Client anxiety may escalate, sometimes leading to rash decisions.
John Lococo, executive financial wealth manager at First Street Wealth Advisors in San Jose, CA, transitioned to a fee-based business over 15 years ago. Here’s his story.
Sixty-eight trillion dollars. That’s the oft-quoted dollar amount of the Great Wealth Transfer—the transfer of wealth from the Silent Generation and Boomers to Generation X and Millennials in the coming decades. The Cerulli Report on U.S. High-Net-Worth and Ultra-High-Net-Worth says the figure is closer to $85 trillion by…
As an investment advisor, you have until the November 4, 2022 compliance date to adopt the necessary changes in how you promote your services. The U.S. Securities and Exchange Commission (SEC) adopted amendments to the SEC marketing rule 206 (4)-1 that affect investment advisor advertising, marketing activities, and…
“May you live in interesting times” is usually taken as a good-natured sentiment. That is until things start to get interesting in a bad way. Economic volatility and market downturns certainly catch the attention of advisors and investors alike, for all the wrong reasons. Adding to the uncertainty?…
Have you ever heard someone say, “There’s many a slip between cup and lip?” Even if you haven’t, you’ll likely recognize the truth behind it. This old maxim highlights how life has a way of stealing expected outcomes, which is certainly true in the financial services arena where…
It’s a financial advisor’s job to look after their clients’ finances, including creating a financial plan based on their overall financial goals and specific investments. While most advisory firms offer some form of a financial plan, not every firm offers a comprehensive, white glove plan as a premium-level…
An old adage attributed to P.T. Barnum says, “There’s no such thing as bad publicity.” Unfortunately, the adage doesn’t apply to marketing. For financial advisors starting out, the learning curve may resemble an obstacle. Michael Kitces asserts that financial advisors are for the most part, “really, really bad at…
During market downturns, your clients will lean on you for wealth management decisions that take their needs and goals into account. Although every client profile may require tailored plans and conversations, these financial advisor tactics can be key for many clients. Make sure you and your clients are…
More than half of Gen Z and Millennials wish they had made different investment decisions in the last year. With half of Gen Z already venturing into the world of investments and a fifth of them wanting to learn how to invest, it would seem like an opportune…
As we mentioned in a recent blog post, the financial planning industry is always evolving, but one thing that remains constant is the best method for advisors to differentiate themselves from competitors: offering trusted advice. This is especially true for advisors looking to move upmarket or retain a…
What makes clients happy? Unfortunately for advisors, each person’s recipe for “happiness” is different. So, how do advisors work toward a goal of making clients happy when “happy” is so subjective?
Insurance professionals build their businesses by helping clients protect their financial well-being from catastrophe.
It’s both an unpleasant word and an unpleasant reality for members of the professional services community. For financial advisors, some degree of client churn is to be expected, but ideally, advisors serve as decades-long guides to their clients and stewards of their financial well-being. Few other service occupations…
Virtually every business segments their customers, no matter how large or small. Segmentation allows businesses and organizations to separate their mass of clients and customers into smaller, more manageable groups. This provides valuable opportunities for message tailoring and personalization of services.
