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2013 Fidelity Millionaire Outlook Executive Summary: Gen X/Y Millionaires Not Sitting Idle

From Fidelity
Added on November 2013 in Other Ideas
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Summary: The Fidelity Millionaire Outlook, now in its 6th year, is an in-depth survey that analyzes the investing attitudes and behaviors of millionaire households. This year’s survey takes a close look at Gen X/Y millionaires — who they are, their lifestyles, how they’re investing, and where they turn for help.

Long the underdogs, female advisors are actually winning in two important categories, a study based on $3.5 trillion of AUM shows

From RIABiz
Added on November 2013 in Other Ideas
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Summary: Despite finding themselves in a sometimes inhospitable male-dominated profession, female advisors are capturing the lion’s share of the nation’s increasingly higher earners — women — and winning a higher average account overall.Just 12% of the investment advisory workforce comprises women, but the typical female advisor counts more women as clients and a higher average account in such households than their male counterparts, according to a new study by PriceMetrix Inc

Behavioral Selling for Sales-Shy Advisors

From Think Advisor
Added on November 2013 in Other Ideas
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Summary: Financial advisors, independents particularly, are often reluctant to even talk about sales, feeling the subject undermines their professional ethos as investment experts.Business development consultant Beverly Flaxington says an improved mindset and techniques can fundamentally boost revenue. The principal of The Collaborative, a consulting firm focused exclusively on financial advisors, frames the sensitive topic of sales.

5 Prospecting Methods That Really Work

From Think Advisor
Added on November 2013 in Other Ideas
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Summary: It’s no surprise that prospecting is the No. 1 challenge advisors face, year after year. When, as part of National Underwriter’s recent Independent Producer Study, we asked about the most challenging aspects of selling insurance products, 55 percent of respondents named prospecting as their top trial.

Guidelines for Building a Solid Practice Niche

From Financial Advisor IQ
Added on November 2013 in Other Ideas
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Summary: Niche financial-advice firms focus on clients they like, build skills that they can use across entire client bases and, through success with a particular constituency of clients, forge lasting client relationships and a steady flow of reliable referrals, according to RIA Central. Nicheless advisors should look at their books of business to identify clients they like best.

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