A marketing focused interview with Marion Asnes on how financial advisors can differentiate their firms. Marion Asnes is the President of Idea Refinery a strategic marketing and communications consultancy for financial service firms. Previously she was the Chief Marketing Officer at Envestnet and Editor of Financial...
"The planning process tends to attract perfectionists. But something paralyzes these people: their fear that executing the plan will show that the plan was not perfect. So rather than risk being found out, these people do nothing. They wait. Many outstanding big-picture thinkers are always looking...
We can learn a lot from our neighbours, including how to manage a client's suitability for a certain investments. The U.S., U.K, Canada, Australia and a number of other countries have produced guidelines around client suitability including the use of risk tolerance questionnaires. Below is an overview...
A wide ranging interview with Bob Veres about the future of financial planning. Bob Veres is the former editor of Financial Planning Magazine and creator of the Insider's Forum conference and Inside Information newsletter. He has been commenting and contributing to the industry for over...
“The strategy we’ve adopted precludes our following standard diversification dogma...
I was recently reviewing a list of psychological investment biases in a paper called "How Biases Affect Investor Behaviour" by H. Kent Baker and Victor Ricciardi and I realized something is missing from the bias canon. I call it the "Not knowing what you want bias"....
The chart says it all. Click the link to view and enlarge. ...
Assessing your clients' risk tolerance and overall risk profile (which includes risk capacity, risk needs and behavioral biases) is essential to building suitable portfolios, running an efficient practice and meeting compliance requirements. But what is the ideal way to do it? Tip: It's not just about...
All financial advisors collect Know Your Client (KYC) information about their clients. Not only is it a regulatory requirement, it's good business. It helps you build a winning investment approach by requiring you to collect your clients vitals. History Of Risk Questionnaires Unfortunately, as KYC requirements expanded in...
The Certified Financial Planner Board Of Standards' first principle in its Code of Ethics is integrity. The code states - "Integrity demands honesty and candor which must not be subordinated to personal gain and advantage. Certificants are placed in positions of trust by clients, and the...
