AI for Financial Advisors: Use Cases, Benefits and Best Practices
Explore AI use cases, benefits and best practices for financial advisors, including workflows, client conversations, governance and human oversight.
Author: Jules Lewin
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Year-End Charitable Giving Strategies for HNW Clients
As December 31 approaches, many people turn their thoughts to charitable giving. Whether the impetus is related to spending down an anticipated year-end bonus, maximizing tax incentives, honoring a loved one for the holidays, or part of an overall giving plan, this time of year can be one…
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Building a Transformational Client Service Model for Financial Advisors
In the world of financial advising, success hinges on more than just investment strategies and market insights. What truly matters is the client-advisor relationship, a dynamic built upon the pillars of service, trust, performance, and communication. Fall short in any of these areas, and your clients may start…
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Unlocking Career Satisfaction: A Guide for Financial Advisors
It’s been estimated the average person will spend 1/3 of their life at work. As a financial advisor, your career is not just a job; it's a significant part of your life. However, if you find yourself feeling dissatisfied or overwhelmed, it's essential to take a step back…
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Build a Scalable Financial Advisory Practice and Attract More Clients
Are you a financial advisor looking to take your practice to the next level? If so, building scalability into your business plan is the key to attracting more clients and achieving sustained success. Scaling is not just about growth; it's about efficiently increasing your capacity and versatility while…
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Top 4 Portfolio Construction Challenges and How to Solve Them
Constructing a portfolio isn't a walk in the park—it's more like assembling a puzzle with a bunch of moving parts. You've got to juggle risk, returns, and individual investor goals while keeping an eye on market trends and potential opportunities. This can put a huge strain on an…
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Business Model, Business Planning, Client Experience, Client Relationships, Clients, Growth, Practice ManagementChoosing Clients for Fee-Based Services: A Roadmap for Financial Advisors
In the ever-evolving landscape of financial advisory services, the shift from a commission-based model to a fee-based structure has become increasingly prevalent. This transformation is driven by the desire for greater transparency, enhanced client-advisor alignment, and a focus on providing comprehensive financial solutions, while also maintaining a profitable…
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The High-Net-Worth Client: Position Yourself to Check Their Boxes
Every client segment has unique concerns, needs, and expectations. The high-net-worth client is no exception. For HNW clients, it’s not just about investments and account growth—it’s about what their money can do for them.
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![14 Client Questions about TAMPs [with Sample Answers]](https://www.assetmark.com/wp-content/uploads/2023/08/TAMPs_client20questions.gif)
14 Client Questions about TAMPs [with Sample Answers]
Back-office operations in most industries aren’t a topic of conversation with clients. We don’t ask our dentists, real estate agents, or even surgeons about their staff, their process, or whether they outsource certain functions of their business. In the financial industry though, transparency is the cornerstone of trust.…
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Business Model, Business Planning, Client Experience, Client Relationships, Clients, Growth, Practice ManagementCommission-Based to Fee-Based: A Step-by-Step Transition Guide
As the financial advisory landscape continues to evolve, the traditional commission-based compensation model is being challenged by a more client-centric approach—fee-based compensation. In this era of heightened transparency and accountability, financial advisors are recognizing the benefits of transitioning from commissions to fees to better align their interests with…
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Financial Advisor Workflows: Best Practices for Optimal Efficiency
Being busy doesn’t always equate to productivity. Run as hard as you want, and if you are on a hamster wheel, you are going nowhere fast.
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Turnkey Asset Management Platforms: How to Get Started
You’ve done your research, talked with other financial advisors, and found a TAMP that provides the services and support that you, your firm, and your clients want. What’s next? How do you get started? What should you expect in the onboarding process?
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5 Keys to Managing High-Net-Worth Clients
Ready to level up your practice? High-net-worth individuals can be game-changing clients for financial advisors. These clients are typically investors with large estates or complex accounts that need a broad range of financial services. Attracting and retaining wealthy investors can make it easier to create recurring income. Plus,…
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Investment Metaphors: So Simple Your Clients May Start Quoting You
Welcome to the captivating world of memorable metaphors in investment and financial planning! As a financial advisor, you possess a wealth of knowledge and expertise that can help your clients navigate the complex landscape of investment decisions and money management. However, finding the right words to convey these…
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What Is a TAMP and How to Choose the Right One?
As a financial advisor, you naturally wear many hats in your business. From managing clients to handling marketing and compliance, it can be easy to get overwhelmed.
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Why Investors Leave Their Advisors and How to Improve Retention
It’s a business fact of life that clients will come and go. However, natural turnover rates will increase or decrease due to your approach toward client satisfaction. If you aren’t actively working to keep clients happy and attract fitting prospects, you may find yourself struggling to make ends…