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As a result, financialadvisors should start honing the services Gen X members will likely benefit from the most, including retirement planning, estate and tax planning and mortgage refinancing. They also make up the second biggest client base for financialadvisors after baby boomers. trillion annually.
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Despite ongoing changes in the philosophy of financial advice, new Kitces Research on How FinancialAdvisors Actually Do Financial Planning finds that 86% of advisory firms still rely on AUM fees as their primary method of charging for advice. At the same time, AUM-based pricing is not without its criticisms.
2025 has had a tumultuous start for most advisory firms, as tariffs-driven market volatility has increased client anxiety and the amount of required hand-holding, forcing advisory firms to manage their own expenses a bit more closely in the face of greater revenue uncertainty.
Welcome to the 412th episode of the FinancialAdvisor Success Podcast ! Anjali is the Founder of FIT Advisors, an RIA based in Torrance, California (but works virtually with clients nationwide) and oversees $65 million in assets under management for 45 client households. Welcome everyone!
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During periods of market volatility, it's common for financialadvisors to receive calls from clients who are nervous about what a steep market decline might mean for their portfolio and long-term financial goals. But even when a client agrees with the reasoning in the moment, the anxiety often lingers.
During periods of market volatility, it's common for financialadvisors to receive calls from clients who are nervous about what a steep market decline might mean for their portfolio and long-term financial goals. But even when a client agrees with the reasoning in the moment, the anxiety often lingers.
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Welcome to the 419th episode of the FinancialAdvisor Success Podcast ! Pete is the Director of Sustainable Investing of Earth Equity Advisors, an RIA based in Asheville, North Carolina, that oversees approximately $200 million in assets under management for 250 client households. Welcome everyone!
Explore the performance, volatility and diversification benefits of private and public infrastructure investments for wealth managers and financialadvisors.
However, as the public’s understanding of AI has developed, the common consensus has largely shifted to the understanding that while processes may change, the expertise and human connection offered by specialists like financialadvisors will be hard to replace. ” – can guide ChatGPT toward more tailored results.
When a financialadvisor transitions from one firm to another, they're often offered incentives by the new firm based on how much client revenue they bring with them. The challenge, however, is that advisors generally don't have the legal authority to simply transfer clients to a new firm.
For many years, the traditional career track for financialadvisors has been an 'eat what you kill' model – where advisors must independently find, convert, and manage their own clients. As such, it isn't uncommon for an advisor's first few years to be characterized by long hours, high rejection rates, and low pay.
Welcome to the 417th episode of the FinancialAdvisor Success Podcast ! Paul is the CEO of More Clients More Fun, a marketing company that helps financialadvisors conceptualize and publish their own book in a consolidated 6-week process. Welcome everyone! My guest on today's podcast is Paul G McManus.
Tony Parr shares Parr McKnight Wealth Management Group's journey at Wells Fargo Private Client Group, and how it leveraged the firm’s independent channels to achieve a “frictionless” launch of its RIA.
And with the advent of AI in particular, questions have emerged about whether technology will replace many human jobs, including financialadvisors. For which industry-specific providers are building the entire advisor-CRM-integrated workflow. Yet now, two years later, AI has not driven a mass wave of unemployment.
In recent years, financial advice has expanded beyond spreadsheets and technical strategies to consider the behavioral and emotional factors driving clients’ relationships with money. At the same time, advisors’ personal money stories may serve as a magnet for like-minded clients – and an asset to the relationship.
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The judge’s order determined that a group of financialadvisors who moved from Ameriprise to LPL, and may have taken client data, must work with a third-party “forensic examiner” to assess whether the information should be deleted.
Mason received a 97-month prison sentence for defrauding clients of over $17 million. Mason, a former advisor who was barred from the industry, was sentenced to 97 months in prison and three years of supervised release for defrauding at least 13 advisory clients out of more than $17 million, according to the Department of Justice.
F2 Strategy co-founder Doug Fritz offers a mini-masterclass on how the best advisory businesses utilize technology to create efficiencies and deliver a better client experience.
Explore effective estate planning and charitable giving strategies for financialadvisors to navigate complex tax policies and help clients maximize wealth.
He said the tie-up made sense with Innovative CPA Group clients looking for wealth management capabilities, and his background in institutional investing meaning expanded investment options for high-net-worth clients. Then we’ve got the Innovative CPA giant roster of clients that will go on the top of our funnel.”
Many financial advisory clients might work for 40 years or more, ideally seeing their income – and capacity to save for retirement – increase over time as they advance in their careers. Still others, including adherents of the Financial Independence Retire Early (FIRE) movement, may hope to retire even sooner.
Jump Advisor AI CEO Parker Ence discusses how AI assistants are transforming financialadvisors' workflows, saving time and enhancing client experiences.
New financialadvisors often start with below-market fees – sometimes to build confidence that prospects will actually pay, other times to attract clients quickly and establish a base. But as the firm grows, so does an advisor's skill set and the demands on their time.
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Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent survey of U.S. Other key findings from the survey included a gap between long-term investment return expectations of investors and advisors (12.6%
In this guest post, Kathleen Rehl, a "ReFired" financialadvisor and educator in legacy planning, shares a framework to help advisors guide clients through this transition using a more expansive "ReFirement" lens. Yet even clients who are financially prepared may feel anxious or uncertain about what comes next.
For many financialadvisors, an early planning conversation often includes asking clients to identify financial goals. Which can leave both client and advisor feeling stuck: The client doesn't have the motivation to act, and the advisor struggles to guide the plan forward in a way that connects.
While financialadvisors offer valuable services for their clients, it can sometimes be challenging to gauge how much clients actually value those services. On one hand, a client's willingness to pay an ongoing fee for financial advice suggests that they find the advisor's services worthwhile.
For many financialadvisors, a core part of the retirement planning process involves simulating whether the client's assets will last through retirement. Yet while these tools offer mathematical metrics, they often fall short in helping clients connect the numbers to their real lives.
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Congress has passed highly anticipated tax legislation, making 'permanent' (i.e.,
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For newer financialadvisors, few situations feel more daunting than being asked a question in a client meeting that they can't confidently answer. Advisors who are early in their careers may still be establishing credibility with clients, which can make even small stumbles feel momentous.
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Financialadvisors often engage with a variety of prospects, each with unique needs and motivations. Some prospects approach an advisor with an immediate 'problem to be solved', such as a fast-approaching retirement date. I help clients in retirement by doing X, Y, and Z.").
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