Nerd's Eye View

AUGUST 15, 2023

Welcome back to the 346th episode of the Financial Advisor Success Podcast ! Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.

Fee Only 234

Fee Only Clients Financial Planning Financial Advisor 234

Nerd's Eye View

SEPTEMBER 13, 2023

Instead, advisors can take a more direct approach in introducing the next steps to becoming a client during a discovery meeting to keep the momentum going and potentially increase the chances that the prospect will become a client. Read More.

Financial Planning 227

Financial Planning Sales Planning Financial Advisor 227

BlueMind

FEBRUARY 15, 2023

Category: Client Relations Financial planning is difficult for anyone, and even more so for someone who is a special needs person or has such a family member. Throughout your career as a financial advisor, many opportunities may arise for you to take on special needs clients.

Financial Planning 97

Financial Planning Clients Planning Financial Advisor 97

Nerd's Eye View

MARCH 27, 2023

According to the 2022 Kitces Research study, “How Financial Planners Actually Market Their Services”, advisors without the CFP marks typically spend more of their time on marketing activities relative to CFP practitioners (allowing them to spend more time on higher-value tasks).

CFP 245

CFP Clients Certification Financial Advice 245

eMoney Advisor

FEBRUARY 9, 2023

Of an estimated 104 million households seeking some level of financial advice, 88 million of those households want that advice from a financial professional. In this overview, we will explore the demographics of each stage, the financial planning needs of people in each stage, and strategies for serving them.

Financial Planning 95

Financial Planning Clients Planning Education 95

Nerd's Eye View

AUGUST 15, 2022

Working as a financial advisor can be both financially rewarding and emotionally satisfying. By helping clients develop financial goals, creating a financial plan, and supporting the implementation and monitoring of the plan, advisors help clients live their best lives.

Clients 165

Clients Financial Advice Financial Planning Fee Only 165

Nerd's Eye View

OCTOBER 16, 2023

Consumers have a wide range of options when it comes to choosing a provider of financial advice, from larger wirehouses and asset managers to smaller Registered Investment Advisers (RIAs). This lets prospective clients know what to expect (and helps them understand the value they will be receiving in exchange for their fees!).

Financial Planning 215

Financial Planning Marketing Marketing Financial Advice 215

Nerd's Eye View

JANUARY 25, 2024

Few service industries have as much potential to impact lives as financial advice, and it's that very ability for financial advicers to help their clients achieve positive outcomes that can often compound for decades and beyond that make the profession deeply satisfying for so many.

Financial Advice 190

Financial Advice Financial Planning Clients Numbers 190

Nerd's Eye View

NOVEMBER 29, 2023

The traditional way that most financial planning has been offered was for an advisor to create "The Plan": a comprehensive document outlining a client's financial strategy that was delivered either on a one-time basis or updated annually.

Planning 210

Planning Financial Planning Communication Clients 210

Nerd's Eye View

AUGUST 15, 2022

Working as a financial advisor can be both financially rewarding and emotionally satisfying. By helping clients develop financial goals, creating a financial plan, and supporting the implementation and monitoring of the plan, advisors help clients live their best lives.

Clients 149

Clients Financial Advice Financial Planning Fee Only 149

Nerd's Eye View

OCTOBER 6, 2022

When it comes to politically charged discussions, financial advisors generally try to stay neutral and focus on providing clients with objective financial advice. This can make it increasingly difficult for the advisor to work with these clients.

Clients 186

Clients Financial Advisor Financial Advice Financial Planning 186

Nerd's Eye View

FEBRUARY 28, 2024

Initial outreach to a financial advicer rarely (if ever) results from a prospective client waking up in the middle of the night in a cold sweat because they just figured out that they're in desperate need of a comprehensive financial plan.

Planning 216

Planning Financial Advice Financial Planning Clients 216

Abnormal Returns

SEPTEMBER 18, 2023

Podcasts Daniel Crosby talks with Michael Kitces about automation and the future of financial advice. kitces.com) Brendan Frazier talks with Samantha Lamas and Danielle Labotka about why clients hire and fire their financial advisers. wsj.com) Advisers How to speak to clients in a way that they understand.

Planning 243

Planning Financial Advice Wealth Management Math 243

Abnormal Returns

JANUARY 15, 2024

(riabiz.com) Why women are still struggling to make progress in the world of financial advice. riaintel.com) HNW clients want additional services. city-journal.org) Delayed Social Security claiming requires an explicit bridge plan. kitces.com) Client's lives are growing more complex. It hasn't happened.

Financial Planner 240

Financial Planner Wealth Management Retirement Planning Financial Advising 240

Abnormal Returns

OCTOBER 30, 2023

Podcasts Brendan Frazier talks with Jake Northrup of Experience Your Wealth about how he infuses the human side to help clients live their ideal life. podcasts.apple.com) Michael Kitces talks with Sarah-Catherine Gutierrez, founder of Aptus Financial, about operating as a flat-fee advice-only firm.

Wealth Management 226

Wealth Management Retirement Planning Financial Advising Financial Advice 226

Nerd's Eye View

OCTOBER 27, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)

Financial Planner 206

Financial Planner Financial Advice Financial Advisor Tax Planning 206

Nerd's Eye View

JANUARY 16, 2024

Thomas is the co-founder of AllStreet Wealth, a financial planning firm for millennial business owners and those with equity comp based in Indianapolis, IN, that has quickly grown to more than $500,000 of run-rate revenue generated from serving 70 ongoing client households. My guest on today's podcast is Thomas Kopelman.

Media 203

Media Financial Advisor Financial Planning Planning 203

Sara Grillo

JANUARY 8, 2024

While financial planning has become more popular, it’s still not center stage for most advisors. I’ve got Zack Hubbard , the director of financial planning and participant engagement at Greenspring Advisors, a fee only RIA. I am an irreverent and fun marketing consultant for financial advisors. Repeatable?

Financial Planning 64

Financial Planning Accounting Planning Financial Advisor 64

Nerd's Eye View

JULY 19, 2022

Andrew is the founder of Tenpath Financial Group and Planning Across the Spectrum, a hybrid firm based in Farmington, Connecticut that oversees $100 million in assets under management for 100 client households.

Financial Advisor 230

Financial Advisor Clients Financial Planning Insurance 230

Nerd's Eye View

OCTOBER 19, 2023

Niching offers several advantages, allowing advisors to be more specific in their marketing, more targeted in their prospecting calls, and more efficient in their processes (since clients within a similar niche are likely to have similar problems, especially in niches of profession). Read More.

Clients 186

Clients Financial Advisor Financial Advice Financial Services 186

Walkner Condon Financial Advisors

JUNE 2, 2023

The importance of getting women into financial planning feels like it should go without saying. Unfortunately, we’re not quite there yet as a society, since as of 2022, the Bureau of Labor Statistics reports only a third of financial advisors are women. In 2022, nearly 42% of the externships participants were women.

Financial Planning 98

Financial Planning Planning CFP Financial Advisor 98

Nerd's Eye View

MAY 15, 2023

But in reality, none of these advances meant the end for the advice industry; rather, they often made financial advisors more productive by increasing their efficiency with back-office tasks from producing financial planning calculations more quickly and accurately to being able to serve more clients across the country.

Financial Advisor 240

Financial Advisor Financial Planning Financial Advice Clients 240

Nerd's Eye View

DECEMBER 1, 2022

As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. robo-advisors) might someday replace human advisors, there are still many elements of financial planning that benefit from engagement with a human advisor.

Planning 216

Planning Financial Planning Financial Advice Clients 216

Nerd's Eye View

APRIL 4, 2024

Ultimately, the key point is that there are a number of ways that the financial planning industry can tackle the looming spike in demand for new advisors without imposing an artificial obligation on advisors, which, if not met, would imply a deficiency in professional duty. Read More.

Financial Planner 190

Financial Planner CFP Professional Services Financial Planning 190

Nerd's Eye View

JANUARY 17, 2024

While it could be decades before we know those answers, at the moment, professionals across every industry, including financial advice, are working to learn how they can leverage this new and remarkable tool to make their practices more efficient.

Financial Advice 130

Financial Advice Financial Planning Planning Clients 130

eMoney Advisor

DECEMBER 27, 2022

As client expectations continue to evolve, there is an opportunity for financial planners to broaden and deepen their service offerings by providing holistic financial planning. To successfully make a move to a more holistic service offering, advisors must gain an understanding of the value clients seek in their services.

Financial Planning 78

Financial Planning Planning Wealth Management Clients 78

eMoney Advisor

NOVEMBER 9, 2022

Cultural humility can help create a safe space for clients to share their most important financial information, which is a critical part of the financial planning process. Clients Are Changing Generationally. Younger generations of clients are more socially aware. D evelopment Disability.

Financial Planning 78

Financial Planning Planning Certified Financial Planner Financial Planner 78

eMoney Advisor

MARCH 16, 2023

I knew these clients were being overlooked. Early in my career at a large broker-dealer in San Francisco, I noticed retirees were the ones getting all the attention, while the Millennials were craving financial knowledge and the attention of financial advisors. Some clients want to be the next Elon Musk.

Financial Planning 88

Financial Planning Planning Clients Retirement 88

Nerd's Eye View

DECEMBER 6, 2022

Natalie is the owner of Natalie Taylor Consulting Services, an independent virtual RIA, and is also the Head of Financial Advice for Monarch Money, a personal financial management tool that helps consumers track their spending and net worth over time.

Clients 130

Clients Financial Advice Financial Advisor Consulting 130

Nerd's Eye View

MARCH 23, 2023

Offering financial advice can mean many things for different financial advisors, and there are many reasons that advisors choose to join the planning profession.

Financial Advice 130

Financial Advice Communication Financial Planning Marketing 130

Nerd's Eye View

JANUARY 20, 2023

While it remains to be seen whether the measures will actually be enacted, proposed measures include raising income and capital gains tax rates, instituting wealth taxes, and reducing the state estate tax exemption, potentially creating future planning opportunities for advisors with clients in those states. Read More.

Financial Planner 188

Financial Planner Financial Advice Fee Only Financial Planning 188

Nerd's Eye View

MAY 8, 2023

Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. Besides the fact that many financial advisors don’t hold the necessary credentials (e.g., by tailoring client data-gathering worksheets to focus on the information that is relevant to a client’s tax situation).

Taxes 229

Taxes Financial Planning Financial Advisor Electronics 229

Nerd's Eye View

DECEMBER 11, 2023

For most financial advisors, 2023 was a year of rebound and reinvestment, as markets bounced back from the turbulence of 2022, and expanded profit margins allowed advisory firms room to reinvest back into the services and value they're providing clients to make sure their retention stays strong in the future.

Financial Advisor 185

Financial Advisor Financial Advice Ethics Financial Planning 185

Nerd's Eye View

JANUARY 22, 2024

While this shift has enriched the advisor's role, it has also introduced challenges in aligning the advisor's offerings with the nuanced needs of HNW prospects and clients. If clients and advisors approach issues with a fundamentally different psychology, then an advisor's 'comprehensive' advice may not address the client's actual problems.

Financial Advisor 190

Financial Advisor Insurance Coverage Charitable Planning Estate Planning 190

Abnormal Returns

OCTOBER 23, 2023

Podcasts Daniel Crosby talks with Saundra Davis on how to effectively meet clients where they are. wealthmanagement.com) Creative Planning A profile of Peter Mallouk, CEO of Creative Planning. riabiz.com) AI Is AI an existential threat to the business of financial advice? smartasset.com)

Compliance 162

Compliance Estate Planning Financial Advice Financial Advisor 162

Nerd's Eye View

APRIL 18, 2024

For over a decade, the financial advice industry has been bracing for an "any-minute-now" tsunami of advisor retirements and concomitant sales of financial planning practices. The primary risks when selling an advisory firm are that the deal may fall through, and existing clients may choose to leave the firm.

Planning 130

Planning Valuation Sales Financial Advice 130

Abnormal Returns

SEPTEMBER 11, 2023

Podcasts Cameron Passmore and Benjamin Felix talk with Preet Banerjee about the value of financial advice. kitces.com) Christine Benz and Jeff Ptak talk with Cynthia Haddad, an expert on financial planning for people with disabilities and their families. thomaskopelman.com) How social proof works in client acquisition.

Wealth Management 147

Wealth Management Estate Planning Financial Advice Financial Planning 147