Successfully on-boarding new clients is a common concern of financial advisors. As you know, those first few experiences a client has with your practice will color the relationship you have for years to come. Failure to understand your client, set expectations and begin on a...
Late last year I wrote a popular list of 58 technology tools for financial advisors. It was shared over a hundred times on various social networks becoming our most visited post last year. However, a great tool is merely the beginning. How do you use these...
In Harold Evensky’s “The New Wealth Management” risk is described as a “four-letter word” and that echoes many of the discussions I have had with advisors. Again and again I ask myself how do we get a better grip on what Evensky calls “a client’s most...
So what’s going to happen in 2015? Over the year I’ve seen three clear trends from discussions with 351 financial advisors. I have two books full of notes as you can see in the image and I am going to share what I am seeing....
A never-ending challenge for the financial advisory industry is quantifying the value it produces for its clients. We know advisors help people set goals, choose investments and sleep well at night but what about the dollars and cents impact? As clients get smarter they’ll be...
Understanding risk tolerance should not be a guessing game especially when dozens of academic studies can point us in the right direction. Below is a list of important academic studies in the field of risk tolerance. Financial risk tolerance revisited: the development of a risk assessment...
Tony Robbins needs little introduction. The personal development guru has touched millions of lives around the world through his ability to “awaken the giant within”. He released his first book in 20 years – Money: Master The Game which tackles the issue of financial advice....
How do you deal with your clients during market volatility? I was recently reading a post on the anonymous advisor forum Advisorheads, where the community was trading ideas. The question is, do you lay low and wait for the storm to pass or reach out...
There are many risk questionnaires used by financial advisors and the most common appear to be bundled in with software an advisor is already using. Morningstar is a popular tool used by financial advisors for investment research and financial planning. I often get asked my...
Download Client Guide I was on the phone with an advisor two weeks ago and he was bemoaning the lack of client education surrounding the difference between average annual return and compounded annual growth rate (CAGR). His argument was that the leading measure used to evaluate financial...
