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Summary: When it comes to pricing, charging clients a percent of assets under management — often around 1% — remains the heavyweight champion of the independent financial advisory world. Yet the venerable model faces challenges from a variety of contenders, including variations on flat fees, hourly billing and charging on a percentage of other financial metrics.
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Summary: In a Financial Planning webinar last week, listeners got some great ideas from a team of practice management experts: Joni Youngwirth, Commonwealth Financial Network's managing principal for practice management; Fidelity Investments executive vice president David Canter; and Christine Gaze, president of Purpose Consulting Group.
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Summary: The financial services industry is out of step with the public in promising to make people rich—when their real goal is to have rich lives. To that end, the so-called “wealth management” profession—generally the preferred term of financial advisors—has passed its sell-by date.
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Summary: Content and social media need each other -- You can have the best content, but if not enough people in your target demographic see your insightful videos, your beautiful infographics or your word-perfect blog, you’ve wasted precious time and resources.
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Summary: It's no secret that the independent adviser has risen from being a cottage industry on the margins of professional finance to reframing a debate about how financial advice should be provided.
