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 227

Communication Planning Financial Planning Fee Only 227

Nerd's Eye View

MARCH 7, 2024

As a starting point, while clients often approach advisors with basic financial problems, there are often deeper concerns (and goals) associated with their initial requests. Advisors seeking to market these higher-tier services (e.g.,

Financial Planning 130

Financial Planning Planning Clients Marketing 130

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 234

Financial Planning Planning Financial Advice Clients 234

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 205

Planning Financial Planning Communication Clients 205

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 204

Financial Planning Clients Planning Education 204

Abnormal Returns

MAY 13, 2024

riabiz.com) Creative Planning is exploring its custody options. riabiz.com) Archive Intel has entered the adviser communications archiving space. blogs.cfainstitute.org) How life events affect retirement planning. papers.ssrn.com) Advisers There is an tension inherent in the practice of financial advice.

Math 227

Math Retirement Planning Financial Advice Communication 227

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 223

Financial Planning Sales Planning Financial Advisor 223

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

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. 1 item people want is clarity about their future.

Communication 90

Communication Clients Financial Advisor Financial Planning 90

eMoney Advisor

DECEMBER 5, 2022

As a financial professional helping couples plan for the future, you have likely experienced the discomfort that can occur when conflict arises. 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.

Financial Planning 73

Financial Planning Planning Financial Planner Communication 73

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

By using your expertise to communicate, educate, and provide perspective, you’ll likely magnify the loyalty of your clients. Historically, staying the course and following a financial plan has outperformed rash investment decisions when there are times of uncertainty in the financial market.

Financial Planning 72

Financial Planning Planning Marketing Marketing 72

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. What are they looking to accomplish through the plan?

Financial Planning 76

Financial Planning Planning Financial Planner Communication 76

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

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

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

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

eMoney Advisor

DECEMBER 6, 2022

Insurance in Financial Planning. The CFP® Board includes risk management and insurance in its financial planning principal knowledge topics for a good reason. Our research shows about 70 percent of advisors offer risk management and insurance planning. However, there is a disconnect. Sources: 1.

Financial Planning 97

Financial Planning Clients Planning Estate Planning 97

Nerd's Eye View

APRIL 26, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor released the final version of its Retirement Security Rule (a.k.a.

Financial Planner 213

Financial Planner Commission Financial Advisor Communication 213

MainStreet Financial Planning

FEBRUARY 1, 2024

During recent conversations, I’ve come across several people unfamiliar with the concept of fee-only financial planning, let alone considering it as a feasible choice. To shed light on this, I want to articulate the distinctive approach we use at MainStreet Financial Planning.

Financial Advice 96

Financial Advice Planning Fee Only Financial Planning 96

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

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 212

Planning Financial Planning Financial Advice Clients 212

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 210

Financial Planning Marketing Marketing Financial Advice 210

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

Integrity Financial Planning

AUGUST 28, 2022

Understand the basics first, and then create an estate plan. Wills and trusts are both important estate planning tools with important differences. Communicate, Communicate, Communicate. Communication is crucial when preparing heirs to inherit wealth, and this includes discussing what they plan to do with the money.

Estate Planning 98

Estate Planning Planning Communication Retirement 98

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 211

Clients Financial Planning Financial Advisor Communication 211

Nerd's Eye View

NOVEMBER 30, 2022

Taxes are a central component of financial planning. Almost every financial planning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.

Tax Planning 218

Tax Planning Compliance Taxes Financial Advisor 218

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 212

Planning Financial Advice Financial Planning Clients 212

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. Which begs the question, to what extent should an advisory firm owner discount the sale price of their firm for a next-gen successor?

Planning 130

Planning Valuation Sales Clients 130

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. thinkadvisor.com) 7 things that clients hate that financial advisers do.

Wealth Management 226

Wealth Management Financial Advising Retirement Planning Financial Advice 226

Abnormal Returns

SEPTEMBER 4, 2023

(standarddeviationspod.com) Creative Planning Creative Planning is buying Goldman Sachs' former Personal Financial Management unit. citywire.com) The deal underlines Creative Planning's rapid growth over the past few years. riabiz.com) Creative Planning could reintroduce the United Capital brand.

Estate Planning 226

Estate Planning Financial Planning Retirement Planning 226

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

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

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 199

Clients Financial Planning Financial Planner Communication 199

eMoney Advisor

NOVEMBER 15, 2022

Here are a few more reasons to apply it in your financial planning practice. To start, gratitude can support your clients’ commitment to pursuing their financial goals. So, how can you leverage gratitude in your financial planning practice? Gratitude Helps Us Patiently Pursue Goals. Sources: 1.

Financial Planning 76

Financial Planning Planning Clients CFP 76

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 182

Financial Advisor Financial Planning Planning Fee Only 182

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 196

Wealth Management Retirement Communication Investment Planning 196