Nerd's Eye View

JULY 27, 2022

Financial planning is both an art and a science. While an advisor needs technical financial planning knowledge to create and implement plans for clients, soft skills that involve effective communication and relationship building are also crucial to both relate to prospects and clients and to understand their needs.

Financial Planning 215

Financial Planning Planning Clients Retirement 215

Nerd's Eye View

MARCH 20, 2023

But even as fee-only financial planning has gained in popularity and advisory firm websites have become ubiquitous, it can still sometimes be hard for prospective clients to determine how much they would pay for advice before actually reaching out to the firm.

Communication 229

Communication Planning Financial Planning Fee Only 229

Million Dollar Round Table (MDRT)

FEBRUARY 13, 2024

The key fundamental difference for successful financial advisors is offering emotionally compelling advice to their clients. How many advisors communicate is uninspiring, offering clients financial plans that look like instruction manuals or, worse, spreadsheets. Likely, they don’t.

Communication 89

Communication Clients Financial Advisor Financial Planning 89

Nerd's Eye View

SEPTEMBER 21, 2022

So for advisors, it may be worth exploring whether there is anything to be learned from Ramsey's approach to financial advice – even if they may disagree on the details, advisors may find in Ramsey's advice a new and perhaps better way to communicate with (and motivate) clients.

Financial Planning 235

Financial Planning Planning Financial Advice Clients 235

Nerd's Eye View

APRIL 24, 2023

But by focusing on advice engagement strategies and encouraging clients to become more engaged in the planning process, advisors can help clients become more motivated to take action, which will ultimately serve to improve their planning outcomes. Read More.

Financial Planning 207

Financial Planning Clients Planning Education 207

Nerd's Eye View

SEPTEMBER 13, 2023

Ultimately, the key point is that selling products and selling services are 2 very different processes, and encouraging prospects to "think it over", while perhaps an effective product-sales tactic, is a less effective way to close a service-based financial planning relationship.

Financial Planning 225

Financial Planning Sales Planning Financial Advisor 225

Nerd's Eye View

APRIL 26, 2024

Also in industry news this week: The Federal Trade Commission released a final rule that would ban most non-compete agreements, which could lead to an increasing number of non-solicit agreements (and, potentially, lawsuits regarding their enforcement) between financial planning firms and their advisors The Securities and Exchange Commission issued (..)

Financial Planner 215

Financial Planner Commission Financial Advisor Communication 215

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 208

Planning Financial Planning Communication Clients 208

eMoney Advisor

DECEMBER 5, 2022

By taking the clients back to the beginning, the financial professional can get to the heart of what the couple in conflict truly wants out of their financial plan. Using communication skills derived from financial counseling , learn what would be a win for each of the partners. Sources: 1 Asebedo, Ph.D.,

Financial Planning 73

Financial Planning Planning Financial Planner Communication 73

Nerd's Eye View

OCTOBER 10, 2022

Communicating ongoing value to clients and prospects can be a challenge for financial advisors. One way to do this is to use a job-mapping approach to help identify where in the financial planning process the client or prospect became stuck, and what triggered their search for help.

Communication 130

Communication Clients Financial Advisor Financial Planning 130

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

Indigo Marketing Agency

MARCH 14, 2023

As a financial advisor, it’s crucial to effectively communicate this event to your clients to help them understand the potential impact it may have on their investments and overall financial well-being. By doing so, you can help them make informed decisions about their financial future. Provide context. Offer solutions.

Communication 98

Communication Banking Clients Financial Advisor 98

eMoney Advisor

APRIL 25, 2023

1,2 Conversely, couples who open up and share financial goals and values with each other tend to have more satisfying relationships. 3 It’s no surprise then that exploring how to get partners to a place where they can freely communicate about goals and values is a point of interest for financial planners.

Financial Planning 84

Financial Planning Planning Financial Planner Clients 84

eMoney Advisor

MARCH 21, 2023

Despite the toll on client emotions, times of market volatility give financial professionals a real opportunity to shine. By using your expertise to communicate, educate, and provide perspective, you’ll likely magnify the loyalty of your clients. But it takes a strong plan—and no small amount of willpower—to do this.

Financial Planning 72

Financial Planning Planning Marketing Marketing 72

FMG

APRIL 12, 2023

Client communication is easily one of the most crucial elements of a successful business. Being able to efficiently and effectively communicate with clients can be the difference between satisfied customers and scathing reviews. Findings to Be Aware Of Every financial advisor has a different way of communicating with their clients.

Communication 52

Communication Financial Advisor Clients Financial Planning 52

eMoney Advisor

JANUARY 10, 2023

When financial professionals know how to effectively present a financial plan, they can better engage clients in the planning process and earn clients for life. Presenting a financial plan, however, isn’t as simple as running through the numbers. Communicate Clearly and Effectively.

Financial Planning 76

Financial Planning Planning Financial Planner Communication 76

Nerd's Eye View

OCTOBER 16, 2023

Which led many firms to market all the ways they were 'better' than other sources of financial advice by highlighting their status as fiduciaries, fee-only advisors, or by offering (more) comprehensive financial planning services beyond investment management, as just a few examples.

Financial Planning 212

Financial Planning Marketing Marketing Financial Advice 212

eMoney Advisor

JANUARY 12, 2023

We’ve gathered seven unique volunteer opportunities for financial professionals, including pro bono financial planning. A 2021 study measured the impact pro bono financial planning can have on cancer patients. Read on to learn how you can make a difference for those in need in your community.

Financial Planning 107

Financial Planning Planning Financial Planner CFP 107

eMoney Advisor

DECEMBER 21, 2022

Goal-based financial planning entails setting and achieving individual financial goals based on a client’s aspirations, assets, and savings. Whereas cash flow-based financial planning involves a precise approach to meeting goals based on the money flowing into and out of a household every month.

Financial Planning 76

Financial Planning Planning Budgeting Clients 76

Million Dollar Round Table (MDRT)

NOVEMBER 19, 2023

This is important because if you’re not convinced about something, you may lack motivation in some areas of financial planning. In my firm, we’ll go through a discovery process with advisors to help them clarify their convictions.

Financial Planning 83

Financial Planning Planning Insurance Medical 83

eMoney Advisor

MARCH 16, 2023

Along the way, I’ve gathered six key insights about financial planning for Millennials. However, sometimes it gets to be too much when it comes to financial topics. Then we do the financial plan and tax planning around that—it’s been a lot of fun. I would say that’s accurate.

Financial Planning 88

Financial Planning Planning Clients Retirement 88

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. Then, by assessing the bottom-line impact of reaching their goal on their financial plan (e.g.,

Clients 213

Clients Financial Planning Financial Advisor Communication 213

eMoney Advisor

DECEMBER 6, 2022

Billion-dollar disasters, inflation, and increased building costs mean a perfect storm is brewing for financial planners’ risk management strategies. Insurance in Financial Planning. The CFP® Board includes risk management and insurance in its financial planning principal knowledge topics for a good reason.

Financial Planning 97

Financial Planning Clients Planning Estate Planning 97

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

Abnormal Returns

JANUARY 30, 2023

standarddeviationspod.com) Michael Kitces talks Jennifer Climo, the CEO and a Senior Advisor for Milestone Financial Planning, about the logistics of merging two practices in just 7 years. kitces.com) How to communicate with a client leaving your practice. riabiz.com) Why the CFP is splitting into two organizations.

Management 184

Management Nonprofit Financial Planning Communication 184

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. The key point is that newsletters can be a valuable tool even for advisors who aren't naturally inclined to write.

Clients 189

Clients Communication Financial Advisor Wealth Management 189

Abnormal Returns

OCTOBER 30, 2023

(riaintel.com) How AI will play a role in the provision of financial advice. wsj.com) Family Communication is important for every family, but especially for the wealthy. thinkadvisor.com) Blended families don't plan their money lives in advance. marketwatch.com) Aging at different rates can put a strain on a relationship.

Wealth Management 220

Wealth Management Financial Advising Retirement Planning Financial Advice 220

Nerd's Eye View

JULY 13, 2023

Establishing successful client relationships as a financial advisor relies on good communication skills not just to present information persuasively and with confidence, but also to establish client rapport that allows meaningful and engaging relationships to be built.

Clients 201

Clients Financial Planning Financial Planner Communication 201

Abnormal Returns

FEBRUARY 12, 2024

Podcasts Brendan Frazier talks with Sten Morgan, the founder of Legacy Investment Planning, about better communicating with clients. msn.com) Why follow-up questions are crucial in financial planning. investmentnews.com) Don't let a lack of fee transparency prevent you from gaining new clients. thinkadvisor.com)

Wealth Management 190

Wealth Management Retirement Communication Investment Planning 190

Nerd's Eye View

MARCH 21, 2024

Alternatively, some clients may be anxious or fearful about transitioning to a new stage due to concerns about their financial situation and whether they truly have the means to stop working. In these instances, it may be worthwhile to investigate these reasons, which may even necessitate professional counseling or therapy.

Clients 185

Clients Financial Planning Financial Advice Retirement 185

Nerd's Eye View

JUNE 15, 2023

For many financial advisors, keeping an open line of communication with clients is a key component of building trust, understanding the client’s values, and developing a meaningful plan to help them reach their financial goals.

Clients 169

Clients Investing Investments Communication 169

Nerd's Eye View

APRIL 12, 2024

Also in industry news this week: A recent study indicates that advisors charging clients on a monthly subscription basis hiked their fees by an average of 6% in 2023, raising the salience of how advisors can most effectively communicate fee increases to clients A survey suggests that while financial advisors are increasingly aware of Artificial Intelligence (..)

Financial Planner 191

Financial Planner Recruitment Insurance Financial Advisor 191

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 232

Fee Only Clients Financial Planning Financial Advisor 232

Abnormal Returns

SEPTEMBER 4, 2023

(thinkadvisor.com) Advisers Scott MacKillop, "Start thinking about yourself as a financial physician rather than a financial cobbler. Communicate your understanding of the client’s underlying issues and concerns in terms that the client can understand. thereformedbroker.com) IPO wealth is a unique financial planning opportunity.

Estate Planning 221

Estate Planning Financial Planning Retirement Planning 221

Sara Grillo

JANUARY 9, 2023

As the move to transparency in financial planning takes hold, regulations are changing in Colorado and other states. Here’s the triumph of virtue that financial planning transparency will (FINALLY) bring to planners across the country and the benefits to clients that come along with it. What should financial advisors do?

Financial Planning 52

Financial Planning Planning Financial Planner CFP 52

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.

Financial Planner 188

Financial Planner CFP Professional Services Financial Planning 188

Nerd's Eye View

OCTOBER 24, 2023

Welcome to the 356th episode of the Financial Advisor Success Podcast ! Sarah-Catherine is the founder of Aptus Financial, a fee-only financial planning firm based in Little Rock, Arkansas, that is approaching $2M in revenue and works with over 480 client households.

Financial Advisor 184

Financial Advisor Financial Planning Planning Fee Only 184