Many advisers may look at the success of their peers and wonder why similar things aren’t happening for them, writes Daniel C. Finley, president and co-founder of Advisor Solutions, a business consulting and coaching service. Finley writes that achieving your career dreams means creating your own opportunities and he outlines several steps that can help you do that.
Stephen Boswell and Kevin Nichols of the Oechsli Institute offer nine ways financial advisers can use video in their practices. Among them are recording events, doing professional sales videos and using video for advertisements on social media.
Morningstar and Mercer have highlighted five trends for this year that will help financial advisers differentiate themselves. Among them are working toward strong governance measures, outsourcing research and compliance activities, and shifting to institutional investing.
Communicating that you are an expert to clients is important, but you need to do it in the right way, which includes listening to their concerns and not just lecturing them, writes marketing expert Dan Solin. He shares a personal example of how he helped a friend find a new attorney because the one he had talked constantly and never listened.
Advisor Perspectives (1/7)
Advisers who want to grow their firms should focus on things they need to stop doing before setting a list of goals to accomplish, writes Scott Hanson, co-founder of Allworth Financial. He recommends starting each year by listing tasks, ranking them and then jettisoning some of the lowest-ranked ones.
Lawmakers say they are ready to take up more legislation to ensure retirement security, after passage of the Setting Every Community Up for Retirement Enhancement Act. Rep. Richard Neal, D-Mass., and Sen. Rob Portman, R-Ohio, have said they back further retirement legislation.
The Financial Industry Regulatory Authority has told members of nine questions they must answer about compliance with the Securities and Exchange Commission’s Regulation Best Interest in the event of an exam. FINRA says it will also look at sales of unregistered securities and how firms handle social media, text messaging and other digital communication.
The Setting Every Community Up for Retirement Enhancement Act makes changes that could affect retirement planners, including raising the age for required minimum distributions from IRAs and altering rules for inherited accounts. This article explains the changes and how to respond.
A Morningstar analysis found three main factors that drive people to invest in the default investment option in defined-contribution plans. The factors are lower expense ratios, higher historical returns and a large choice of funds in the plan.
Those who are retired or nearing retirement should wish for higher interest rates, even if it leads to lower stock and bond performance, according to columnist Mark Hulbert. Money goes further when rates are higher, and lower interest rates typically mean lower long-term growth expectations, he writes.
More young financial advisers are moving away from big wirehouses and toward independence with their own firms, said Pam Stross, CEO of TruClarity Wealth Advisors, a Tampa-based registered investment adviser that offers a platform for independent advisers. Among the reasons are a desire for personalization and more use of technology, Stross said.
Financial Advisor online (1/7)
People are retiring earlier and living longer, making longevity one of the biggest risks clients face in today’s retirement climate, write Michael Meltzer and John Petrides of Tockqueville Asset Management L.P. They suggest managing risk by diversifying to include non-traditional investments such as real estate and master limited partnerships that are less volatile than stocks.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.