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Which could prove to be a boon for the financialadvice industry as more consumers are willing to entrust their assets to an advisor (while at the same time possibly making it tougher for some advisors to differentiate themselves primarily by how they put their clients' interests first?). Read More.
Number 8860726. In fact, they may be the missing piece in your clients’ portfolios—and AssetMark is betting big on that future. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. June 27, 2025 Private markets are no longer just for the ultra-wealthy.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey found that long-feared fee compression in the financialadvice industry has yet to come to pass, though some advisors continue to see potential for small reductions in asset-based fees in the future.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with a recent survey indicating that a majority of advisors are viewing new client acquisition as their primary challenge in the current competitive environment for financialadvice (followed by compliance and technology management) and suggests (..)
Notably, though, this legislation is subject to change as it appears headed for a vote in the full House and as the Senate considers its own version of the tax legislation.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the "Social Security Fairness Act" was signed into law this week, eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) provisions, which previously reduced the Social Security benefits (..)
Financial planning is inherently complex, especially when it comes to data gathering, analysis, and crafting well-reasoned recommendations. But delivering those recommendations in a way that clients can understand and act on is a separate skill. One way to simplify delivery is to build meetings around a single core takeaway.
Which suggests that, amidst ongoing debate over fiduciary-related regulations, an advisor's status as a fiduciary could both lead to greater client trust (both in their individual advisor relationship and perhaps in the financialadvice industry as a whole) and, ultimately, higher client retention rates.
Financial advisors have a fiduciary obligation to act in their clients' best interests, and at the same time are prohibited by state and SEC rules from making misleading statements or omissions about their advisory business.
Number 8860726. Related: Savvy Wealth Raises $72M, Adds Mark Casady to Board of Directors Use Case 1: Onboarding Without Borders Picture this: A prospective client begins onboarding. Advisors gain hours back, operations teams reduce friction, and clients experience seamlessness from the first interaction.
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.
With another strong year in the markets, most advisory firms are near or at record highs for their revenue, their numbers of clients, and the headcounts of their teams. In reality, though, the robos struggled to gain traction, and the human financialadvice business just continues to grow.
Few service industries have as much potential to impact lives as financialadvice, and it's that very ability for financialadvicers to help their clients achieve positive outcomes that can often compound for decades and beyond that make the profession deeply satisfying for so many.
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.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financialadvice 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 (..)
This is more than overconfidence, the DKE is how poorly we are at metacognition assessing our own abilities at a specific task Look at the history of performance and the small number of professional investors who outperform their benchmarks over 1, 5, 10, and 20 years. What are some examples of bad numbers?
Podcasts Brendan Frazier talks with Meghaan Lurtz about re-engaging with existing clients. wiredplanning.com) Daniel Crosby talks with Matt Reiner partner at Capital Investment Advisors about the future of financialadvice. investmentnews.com) Advisers How a financial planner is like a general practitioner.
In order to deliver the best service to their clients, financial advisors often take on responsibilities beyond giving financialadvice, including compliance, marketing, team management, and other operational duties. Over time, this can easily lead to overwhelm – or, eventually, even burnout.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC this week fined 4 RIAs for violations of its marketing rule related to their claims that they offered 'conflict-free' financialadvice.
Which suggests that instead of trying to go head-to-head with these larger firms (and their heftier marketing budgets) in attracting clients, smaller firms might instead demonstrate how they are 'different' by offering a unique service offering tailored to their ideal target clients.
podcasts.apple.com) Zeke Faux Joshua Brown and Michael Batnick talk with Zeke Faux author of "Number Go Up: Inside Crypto's Wild Rise and Staggering Fall." youtube.com) Aaron Lammer, Max Linsky, and Evan Ratliff talk with Zeke Faux author of "Number Go Up: Inside Crypto's Wild Rise and Staggering Fall."
Also in industry news this week: The SEC this week finalized a series of rules designed to discourage future runs on money-market funds, potentially reducing their liquidity risk A recent study suggests that advisor marketing messages that address prospective clients' emotional concerns, in addition to their technical questions, could be particularly (..)
A career as a financialadvicer can be remarkably rewarding, as it offers the opportunity to have a meaningful impact on clients' lives all while making a good living. The financialadvice industry is notorious for having a high failure rate among new entrants, which makes getting through the first few years crucial.
There are many financial advisors who take issue with the financialadvice offered by popular personal finance personalities such as Dave Ramsey. Read More.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a new study from research firm Cerulli has found that investors' willingness to pay for financialadvice has risen over the last 15 years, with more investors reporting using a financial advisor (and a decreasing share considering (..)
Also in industry news this week: The wealth of those in the Millennial and Generation Z cohorts increased by 25% in 2021 and members of these generations are willing to pay for financialadvice, according to a new study. How advisors can help clients review their Medicare coverage as the annual open enrollment period begins.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey indicates financial advisors are the most trusted source of financialadvice for consumers across generations, and are particularly trusted among wealthier individuals.
The 2024 Technology Tools for Today (T3) Advisor Conference, held last month in Las Vegas, Nevada, featured a large gathering of financial advisors and representatives from across the fintech industry. Likewise, while CRM usage has slipped by about 5%, the overall number of advisors who use a CRM still remains at a dominant 92%.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that RIAs appear to be building more comprehensive and more integrated tech stacks, and are benefiting from greater operational efficiencies, according to the latest Schwab RIA Benchmarking Study, with larger firms (..)
Which could make it more advantageous for firms and advisors alike to consider a more equitable, cooperative approach than strict on-competes or non-solicits to deciding which clients an advisor can solicit if they do eventually leave the firm.
Notably, while the rule will create an additional compliance burden, the due diligence advisers offering comprehensive planning services (as well as their investment custodians) are likely already conducting on their clients to create an effective financial plan could be a 'defense mechanism' for these firms against criminals looking to take advantage (..)
Traditionally, financialadvice 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).
This month's edition kicks off with the news that Practice Intel has launched a new "growth platform" centered around quantifying the quality of an advisor's client relationships with an all-in "Relationship Quality Index" (RQI) – which while potentially valuable in helping advisors understand and improve their client experience (and subsequently (..)
In the early days of the financialadvice industry, an advisor's options for generating new business were somewhat limited. From there, advicers can determine if the activity is actually having any effect by measuring the number of Prospect Inquiries, or how many people reach out to learn more about what the advicer offers.
Further, the court indicated that its ultimate decision is likely to favor groups opposing the regulation, which could lead to an appeal by the DoL and leave advisors waiting (potentially much longer) for a final answer on what will be required of them going forward.
As 2022 comes to a close, I am once again so thankful to all of you, the ever-growing number of readers who continue to regularly visit this Nerd’s Eye View Blog (and share the content with your friends and colleagues, which we greatly appreciate!). navigate a volatile market environment (in both stocks and bonds – oof!)
Further, the court indicated that its ultimate decision is likely to favor groups opposing the regulation, which could lead to an appeal by the DoL and leave advisors waiting (potentially much longer) for a final answer on what will be required of them going forward.
Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financialadvice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), (..)
No audited returns, mathematically improbable claims, and zero accountability But none of these “influencers” sell securities to clients, so they do not fall under the regulatory oversight of the Securities and Exchange Commission (SEC).2 2 Sure, you can claim mainstream media is bad, but social media is worse.
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.
Additionally, the upcoming Kitces Value Summit, coming December 12 , 2024, will tackle how real advisors provide and communicate their ongoing value to their clients. Additionally, the upcoming Kitces Value Summit, coming December 12 , 2024, will tackle how real advisors provide and communicate their ongoing value to their clients.
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