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In the 159th episode of Kitces & Carl , Michael Kitces and client communication expert Carl Richards discuss how to navigate the ethics and logistics of fee increases for a firm's first clients – especially when the advisor previously promised them their fees would stay the same.
In many advisory firms today, associate advisors don't begin with prospecting or running client meetings; instead, they start with back-end technical work, such as financial plan preparation, before gradually developing the strategic and client communication skills needed for greater independence. Read More.
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So, whether you're interested in learning about ways to help improve financialcommunication between members of client couples, the questions that can drive these conversations, or how to incorporate aspects of financial therapy into a practice, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Nick Rodkin.
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Now, “over-the-counter” trades have become increasingly popular with the emergence of digitization and remote communication. The Increasing Costs Of Maintaining Compliance Standards To quote former U.S. It is a constant expense that digs steadily into the budget and can be further exacerbated by cyber attacks.
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Then, you can drive the lessons home by teaching your kids about budgeting through some finance books for kids. Crucial money and life skills can be learned in a fun way Many children’s books simplify money concepts such as budgeting, saving, and investing. It also teaches them how to budget, save, and give back.
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You know, a rich life, most people expect a money book to start with a chapter on budgets. We’re going to get a budget. Everybody hates the word budget. Everybody hates the word budget. I hate budgets myself. RITHOLTZ: That’s more counseling than it is financialadvice. RITHOLTZ: Buzzkill.
Is it better to have a financial advisor or do it yourself? Do you need a financial advisor if you don’t have a lot of money? What types of financial advisors should you avoid? Article related to financialadvice Do you need a financial advisor? When should you get a financial advisor?
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The decision to hire a financial advisor is a prudent move. Seeking professional advice can provide valuable insights and a roadmap to achieve your financial goals with strategic planning. But the world of financialadvice is crowded. Communication is key in the evaluation of investment performance.
This can attract clients who are looking for financialadvice. Share helpful information about financial advisor services. It also helps you appear as a trusted expert in financialadvice. Offering Free Financial Planning Tools Providing free resources is a smart way to find new leads.
Like literally went through my budget, my spending, my potential spending and my investments. They, well, they love a, you know, TikTok, you know, budget tool. And what do you do in that situation and how do you communicate that to your, to your boss, your manager, in those kinds of environments? Can I send my kids to school?
I thought it was, no, you guys were pretty fair so I can — HAMBURGER: So — RITHOLTZ: But that is a legitimate concern, especially for a small firm that has a modest budget for legal. You could probably build a better communications strategy. HAMBURGER: Absolutely. You could probably build better digital tools.
I think that we do need sales people to sell things, I think sales is just the expression of value, the expression and the communication of value. I would say a good portion of the budget should be… Should be put towards this investigatory process. Now, granted, I don’t think that that’s true. JR: Tom Sporkin.
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