Nerd's Eye View

APRIL 17, 2024

After advisors do all of the work of bringing on a new client (Marketing! And while all may appear well on the surface – the client rarely contacts the advisor with problems but they show up for every annual meeting – they may actually be feeling quite disengaged with the financial planning services being provided.

Clients 246

Clients Financial Planning Planning Compliance 246

Nerd's Eye View

MAY 8, 2024

Measuring a client's tolerance for risk is an essential (and required!) step when onboarding a new client, as making any sort of recommendation is impossible without first understanding how comfortable clients may be when their portfolios inevitably experience volatility. And while few (if any!)

Clients 246

Clients Risk Tolerance Financial Planning Planning 246

Nerd's Eye View

NOVEMBER 8, 2023

For instance, after a lifetime of 'maximizing' their finances (likely seeing their net worth increase steadily over time), some clients might find it difficult to see their portfolio balances decline in retirement as they draw down their assets to support their lifestyles. On the behavioral side, clients could 'practice' retirement (e.g.,

Retirement 246

Retirement Clients Planning Food 246

Nerd's Eye View

APRIL 29, 2024

Financial advisors add value for their clients not only by helping them grow their wealth, but also by working with them to create a plan for how to use it. While much of this process may focus on the client's own lifetime planning needs (e.g., With this in mind, many financial advisors offer estate planning guidance to clients.

Estate Planning 246

Estate Planning Clients Planning Financial Advisor 246

Nerd's Eye View

JANUARY 15, 2024

For financial advisors, an ongoing client service model often means finding ways to keep clients engaged and progressing toward their goals outside of the 1 or 2 typical client review meetings each year.

Clients 246

Clients Communication Financial Advisor Wealth Management 246

Nerd's Eye View

SEPTEMBER 5, 2024

While strategic advice is crucial, advisors also face the challenge of presenting the strategies to clients in context, explaining different financial planning concepts, and showing clients how to implement these strategies (as well as pointing out any long-term consequences).

Education 130

Education Clients Financial Planning Financial Advisor 130

Abnormal Returns

FEBRUARY 19, 2024

wealthmanagement.com) Do your clients have a digital estate plan? (ofdollarsanddata.com) Social security Spousal claiming strategies for Social Security are nuanced. thinkadvisor.com) How to research a Social Security question. obliviousinvestor.com) Estate planning Changing an estate plan takes time.

Clients 262

Clients Estate Planning Wealth Management Financial Advice 262

Nerd's Eye View

AUGUST 16, 2023

Financial advisors create value for clients not only by giving good advice, but also by ensuring that the advice they give is actually implemented. Ultimately, clients often come to advisors in the first place because, at least on some level, they are motivated to make a change.

Clients 246

Clients Financial Planning Planning Financial Advisor 246

Nerd's Eye View

FEBRUARY 7, 2024

The need for financial professionals to ask prospects and clients questions has a long history in the industry. One of the best ways to accomplish that goal is not to ask better questions, but to also ask engaging follow-up questions that build trust and rapport with clients. as judgmental.

Clients 246

Clients Communication Financial Planning Retirement 246

The Big Picture

SEPTEMBER 30, 2022

TSS Episode 125: Barry Ritholtz on Financial Advisers, Clients, Market Outlooks and Building Portfolios. The post The Sherman Show: Clients, Advisers, Markets & Portfolios appeared first on The Big Picture. It’s fun conversation, and Jeff & Sam are great hosts.

Portfolio 292

Portfolio Clients Financial Advising Marketing 292

Nerd's Eye View

JULY 11, 2024

From there, advicers can help clients explore their relationships with money by asking, "If you could go back and talk to yourself with the benefit of hindsight, what would you say? " , potentially providing them with insight around experiences that have been informing their lives for years. Read More.

Clients 189

Clients Communication Financial Planning Financial Advice 189

Abnormal Returns

FEBRUARY 13, 2023

kitces.com) Matt Reiner talks client expectations with Daniel Crosby who is the Chief Behavioral Officer at Orion Advisor Solutions. etf.com) Things to keep in mind when direct indexing a client's portfolio. fa-mag.com) How to advise clients in the government Thrift Savings Plan. forbes.com) A ten-point Medicare primer.

Clients 202

Clients Retirement Financial Services Taxes 202

Nerd's Eye View

MAY 14, 2024

Danielle is the owner of Wealth By Design, a hybrid advisory firm based in Glenwood Springs, Colorado, that oversees about $35 million in assets under advisement for 35 client households.

Clients 246

Clients Financial Planning Financial Advisor Planning 246

Nerd's Eye View

JANUARY 10, 2024

In initial discovery meetings, financial advisors face the challenge of eliciting specific goals from new clients – a crucial step for crafting a comprehensive financial plan. Read More.

Clients 246

Clients Financial Advisor Financial Planning Planning 246

Million Dollar Round Table (MDRT)

SEPTEMBER 8, 2024

By Antoinette Tuscano, MDRT senior content specialist You hope you never get them, but misunderstandings and client complaints can happen. There’s an important business process, though, that can stop them from escalating into ethics complaints.

Clients 83

Clients Ethics CFP Communication 83

Advisor Perspectives

AUGUST 26, 2024

As tough as financial advisors claim to be, we still get nervous about “firing” clients, too. It’s a cheap, but effective way to massage the misgivings that we have about terminating client relationships. When we say “graduate,” that is our delicate way of handling an uncomfortable situation.

Clients 116

Clients Financial Advisor 116

Nerd's Eye View

NOVEMBER 13, 2023

Traditionally, financial planning meetings have been held face-to-face in an advisor's office, and over the years, a body of research has emerged showing that how the advisor's office is laid out can have a significant impact on how clients perceive the advisor, their mood during the meeting, and even their resulting financial planning decisions.

Clients 246

Clients Financial Planning Planning Communication 246

Nerd's Eye View

OCTOBER 5, 2023

For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement. Which can help clients narrow down what really matters to them most.

Clients 246

Clients Financial Planning Financial Advisor Communication 246

Nerd's Eye View

MARCH 21, 2024

For many financial advicers, helping long-time clients identify and progress toward their goals eventually transitions into conversations around the best ways to enjoy the fruits of their labor once they reach them. And by ensuring that their clients are equipped with (and know how to follow!) Read More.

Clients 246

Clients Financial Planning Financial Advice Retirement 246

Nerd's Eye View

JUNE 24, 2024

The requirements to run a successful, growing advisory firm are often less about doing the technical work with clients and more about marketing value to get prospects in the door in the first place. Which means that advisors should not be expected to champion the planning industry alone when prospecting for clients. Read More.

Financial Advice 190

Financial Advice Clients Financial Planning Planning 190

Nerd's Eye View

JUNE 27, 2024

In the early days of the advicer industry, those questions almost exclusively dealt with facts around a client's or prospect's financial situation to determine (ultimately) what products the adviser should recommend. and Mrs. Client, I hear you. Just tell me the best questions to ask and give me a flowchart to navigate the rest!").

Clients 185

Clients Financial Planning Communication Planning 185

Nerd's Eye View

MAY 3, 2023

And by understanding these varying levels of conversational 'intensity', advisors can hold more productive client conversations by taking measures to reduce or mitigate the impact of interruptions during client meetings. When a person is interrupted, even when the interruption is made with no ill intent (e.g.,

Clients 245

Clients Financial Planning Planning Numbers 245

Nerd's Eye View

NOVEMBER 16, 2022

With inflation running hot, a potential recession looming, and both stock and bond markets seeing significant drops so far this year, there is no shortage of potential stressors for financial planning clients. But to an angry client, these quick answers could feel dismissive or combative, potentially escalating the situation.

Clients 246

Clients Marketing Marketing Financial Planning 246

Nerd's Eye View

JULY 6, 2022

Advisors occasionally encounter situations where their recommendations conflict with a prospect’s or a client’s opinions or beliefs. In some cases, it is clear to advisors that it would be inappropriate to try to persuade a client to go against their values.

Clients 242

Clients Asset Allocation Financial Advisor Portfolio 242

Nerd's Eye View

JUNE 19, 2024

The key point is that as with most financial planning topics, advisors can play a role in helping to guide clients to the most appropriate solutions for their goals, including how to carry on their legacy of personal values. Read More.

Estate Planning 189

Estate Planning Clients Distribution Assets 189

Trade Brains

AUGUST 17, 2024

List of Biggest Stockbrokers in India 2024: In this article, we are going to look at the 15 Biggest Stockbrokers in India based on their total number of unique active clients. And this leads to a lot of trouble for their current clients. There are over 4900 stockbrokers in India registered with SEBI and different stock exchanges.

Clients 98

Clients Startup Numbers Accounting 98

Nerd's Eye View

APRIL 24, 2024

Over the past few decades, advicers have used Monte Carlo analysis tools to communicate to clients if their assets and planned level of spending were sufficient for them to realize their goals while (critically) not running out of money in retirement.

Communication 246

Communication Retirement Clients Planning 246

Nerd's Eye View

DECEMBER 14, 2022

As a result, people are often reluctant to make decisions when doing so would result in a significant change; this can result in ambivalence about taking action to make improvements in one’s life – including the types of financial decisions that advisors work with their clients to make. Read More.

Clients 246

Clients Numbers Planning Communication 246

Nerd's Eye View

NOVEMBER 28, 2022

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. Combined with growing advisor (and consumer) interest in comprehensive financial planning services, the number of ways advisors can add value for their clients has expanded greatly.

Clients 246

Clients Fee Only Planning Advertising 246

Nerd's Eye View

MAY 10, 2023

In meetings with current and prospective clients, asking follow-up questions can be a valuable tool for uncovering information about the client’s underlying values, goals, and motivations… and for deepening the personal connection that drives the advisor-client relationship. At a high level, asking “What else?”

Clients 246

Clients Communication 246

Million Dollar Round Table (MDRT)

AUGUST 6, 2024

By Li Choo Tan To retain clients as well as serve their children and generations beyond, I engage with my clients on a personal level. In fact, most of my clients become longtime friends. I help celebrate graduations, marriages and the birth of children as well as educate their young adult children about financial planning.

Clients 82

Clients Education Insurance Financial Advisor 82

Million Dollar Round Table (MDRT)

AUGUST 11, 2024

By Sandy Schussel If you want more business from existing clients and lots of introductions to new clients, get your best clients to tell stories about their “magical” experience working with you. When your contacts with clients are simply what they expect, they have no reasons to tell stories about your service.

Clients 83

Clients Economics Marketing Marketing 83

Wealth Management

AUGUST 6, 2024

This is an opportunity to show clients why they pay us a fee, to navigate difficult times with a rock steady approach.” Financial advisors view the market correction as a normal course of events and a good buying opportunity. Market volatility is my best friend,” one advisor said.

Clients 112

Clients Financial Advisor Marketing Marketing 112

Million Dollar Round Table (MDRT)

JULY 14, 2024

By Liz DeCarlo, MDRT Content Manager Ted Rusinoff, a 17-year MDRT member from Stow, Ohio, USA, can distill client meetings into three critical questions that will yield long-term results for both clients and advisors. Start by asking clients to look at what assets they have today. Why do you own it?

Clients 84

Clients Insurance Management Assets 84