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...
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. ...
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...
Pocket Risk has completed an integration with Redtail, the most popular advisor focused CRM (Customer Relationship Management) tool in the market. The integration will allow users of Redtail to launch the Pocket Risk questionnaire from within Redtail and review client scores. The integration has been completed...
It’s difficult to pick up an industry publication, attend a conference or speak to a fellow advisor without discussing the threat of robo-advisors. There is no doubt they will change our industry forever but what is the solution for the financial advisor? Over the last week...
When you read all the literature designed to help you advance your practice do you ever feel that it’s junk? I do! Not because it isn’t useful but because it focuses on areas of your business that don’t really matter. It fails the 80/20 test of...
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...
