AI Should Make Advice More Human
Key Takeaways Comfort with AI-generated financial advice nearly doubles, from 31% to 52%, once a financial advisor verifies it (CFP Board, 2024). 94% of advisors...
Author: Jules Lewin
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How to Deliver a Value Proposition That Drives Business Growth
“So, what do you do for a living?” This might be a question you ask as an icebreaker to get to know others.
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Business Operations, Client Experience, Client Relationships, Clients, FinTech, Investment Management, Regulatory ComplianceWealth Management FinTech Trends to Watch in 2023
Are you taking advantage of today’s technology to support your clients, empower your team, and grow your business? Stay up to date with the latest innovations and insights to ensure you’re ahead of the curve. These fintech trends are shaping the way asset management firms do business.
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Career Development, Client Experience, Client Relationships, FinTech, Market Insights, Market Volatility, Marketing, Practice Management, Regulatory Compliance, RIAA Look at RIA Market Trends for 2023
As we approach the end of the year, it’s a good time to look back and reflect on what’s shaping the RIA market. We’ve experienced some unusual hurdles in the past two years that have had a huge impact on financial advisory trends.
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Is Socially Responsible Investing Financially Responsible?
“Doing good while doing well,” is a fun bit of wordplay, and for the 85% of investors interested in sustainable investing, it’s an increasingly important underpinning of their financial planning efforts. But does “making an impact” negatively impact an investor’s bottom line?
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Client Acquisition, Client Experience, Client Relationships, Clients, Financial Planning, HNW/UHNW, Market Insights, Market Volatility, Retirement PlanningMarket Downturns: Generational Differences in Client Conversations
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.
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5 Key Elements to a Financial Advisor Business Plan
As a financial advisor, the idea of building a business plan can seem a low priority—merely an exercise for entrepreneurs trying to launch a startup. But as a business owner, you may know that you should take care of it, but you also know that it’s going to…
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Business Model, Business Planning, Client Experience, Client Relationships, Clients, Practice ManagementHow One Advisor Improved Client Experience and Increased Referrals
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.
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Business Operations, Client Acquisition, Client Experience, Client Relationships, Clients, Estate Planning, Financial Planning, Next GenerationHNW Family Wealth Planning: 5 Best Practices for Your Clients
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…
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Business Operations, Client Acquisition, Clients, Investment Management, Market Insights, Marketing, Practice Management, Regulatory ComplianceSEC Marketing Rule: A Simple Guide to Compliance
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…
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How to Prepare Your Firm for a Market Downturn or Recession
The last bull market, which ended in 2020, lasted 3,999 days. That means if you have been a financial advisor for less than a decade, you are now experiencing the first protracted market downturn of your professional career—and it’s stressful. Like parenthood, no matter how much you’ve studied…
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Fee-Based and Commission-Based Financial Advisor Compensation Models
Financial advisory practices have changed over the years and are increasingly shifting away from commission-based models toward fee-based models. To understand this trend and the forces that are influencing it, we examine the pros and cons of different compensation models.
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Client Experience, Client Relationships, Clients, Market Insights, Market Volatility, Next Generation7 Tips to Prepare Your Clients for a Market Downturn
“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?…
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Securities-Backed Lines of Credit: 3 Ways Clients and Advisors Benefit
As the role of financial advisors evolves beyond pure investment management to increasingly holistic financial planning, solutions like SBLOCs have grown in popularity by allowing advisors to expand their guidance and offerings and deliver potential benefits to clients and advisors alike.
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Defend Your Client Assets from Competitors with High Yield Cash
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…
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5 High-Impact Tips to Grow Your Practice When You Feel Overwhelmed
Managing invoicing, investment research, staffing, and the small galaxy of other back-office tasks leaves little time left over to focus on your own future. How do you grow your practice when you're already spending all your time managing the day-to-day operations?