Manage Your Practice
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Planners Have Little to Fear From Robo-Rivals
Added on April 2014 in Manage Your Practice
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Summary: Instead of “disrupting” flesh-and-blood financial advisors, so-called robo-advisors may end up helping them — even as they take business away from traditional vendors, according to Nerd’s Eye View.
Jargon Watch: 9 Buzzwords to Avoid
Added on April 2014 in Manage Your Practice
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Summary: In order to be more transparent, financial advisors should strive to eliminate jargon when conversing with clients. Among the offenders cited: adding alpha, yield curves, basis points and efficient frontiers.We asked a few advisors to add the buzzwords that they thought confused clients -- and to offer us alternative phrasings where possible. Click through to see their list.
Look beyond financial planning schools to find the next superstar
Added on April 2014 in Manage Your Practice
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Summary: Advisory firms committed to hiring the next generation of financial advisers aren't limiting themselves to the narrow pool of financial planning degree candidates. ClearPath Capital Partners, which recently hired five soon-to-be college graduates, talks to anyone who is curious about the industry. One hire last year was a philosophy major who speaks Portuguese, Spanish and English. Two new hires are earning degrees in economics.
Expert Resources: Who Should Be on Your A-List?
Added on April 2014 in Manage Your Practice
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Summary: Back when I was starting out as an advisor, my goal was to be an expert in all areas of finance: investments, accounting, estate planning - you name it. I wanted to be the one person my clients would need. Around that time, I met a hugely respected CPA. I'll never forget walking into his office and seeing a giant stack of accounting books and journals on his desk. "That's the reading material that I need to catch up on to stay current," he sighed. That sentence quickly changed my plans: Instead of trying to be the expert in all things, I decided to work with a team of expert professionals who could help me bring the right expertise to my clients.
4 Business-Friendly Options for Providing Clients With Health Care, LTC Services
Added on April 2014 in Manage Your Practice
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Summary: This is a period of uncertainty for fee-based independent financial advisors. On the one hand, ‘robo advisors’ are seeing some success in attracting assets with their consumer friendly interfaces, readily accessible data and low-cost approach. On the other hand, aging Baby Boomers are increasingly turning to advisors for long-term care (LTC) planning and elder care information, advice that requires specialized expertise.
