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Summary: “She said she made a lot of money, but didn’t feel like she could ever retire,” In their first meeting, Ms. Swanger paid close attention to statements like that, looking for ways to probe deeper and find the best way to help the woman. “When clients say something, you want it to click so you can say, ‘Here’s another opportunity.’
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Summary: Millennials, also referred to as Generation Y, are those born from the 1980s through the early 2000s. Millennials are poised to inherit approximately $41 trillion from their baby boomer parents over the next 40 years, accounting for the single largest intergenerational wealth transfer in human history.
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Summary:Financial advisors’ discomfort with sales is often in inverse proportion to their ease with numbers, graphs and tables. To a professional seeking to provide expertise, and priding himself on his knowledge and competence, selling can feel unpleasantly self-assertive, yet sooner or later advisors recognize that revenue-generating actions must be taken.
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Summary: Registered investment advisor firms spend, on average, 2 percent of their total revenue on marketing and business development, excluding the cost of a marketing staff if they have one, according to the 2014 Fidelity RIA Benchmarking Study.
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Summary: Findings from the 2014 Fidelity RIA Benchmarking Study, released Wednesday, showed that many firms recognized the need to improve their marketing and business development capabilities.
