How Three Advisors Engage the Next Generation of Clients in Financial Planning

Three Advisors Engaging the Next Generation of Clients

Many advisors know we’re on the brink of a giant wealth transfer. Over the next 25 years, $60 trillion in assets are expected to pass on to future generations.1 But have you thought about how you will engage clients’ children? If not, you’re not alone. When asked how often they meet with clients’ children, 54 percent of…

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How to Talk to Your Clients About Market Volatility

Talk to Clients About Market Volatility

Market volatility can be a nerve-racking experience for anyone. As most advisors know, clients tend to panic-sell during sell-offs, or at least attempt to panic-sell, which minimizes their participation when markets eventually rebound. This results in “sub-par” returns over time. Having spent 7+ years as an advisor at Merrill Lynch, I’ve seen this pattern of…

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Helping Financial Advisors Understand Student Loan Repayment Options

Understanding Student Loan Repayment

Today’s students are faced with a tough situation when it comes to student loan repayment. I’ve witnessed firsthand just how urgently young students need something different from what the financial industry is currently offering. I’ve also seen how impactful sound financial advice can be at this point of a young adult’s life. Financial advisors who…

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Securing Client Confidence with Monte Carlo Simulation in Financial Planning

Monte Carlo Simulations in Financial Planning

Monte Carlo simulations have applications in a wide range of industries, but they are particularly useful in financial planning. Clients need to know how long their money will last and the impact that market conditions will have on their savings and distribution. Advisors most often use geometric means and straight-line analysis, which are both important…

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How Enterprise Advisory Firms Can Streamline Financial Planning Efficiency for Greater Growth and Profitability

Enterprise financial planning efficiency

Enterprise advisory firms have a lot to gain from improving efficiency in financial planning. Incremental increases in efficiency at the advisor level, when scaled across the entire organization, can result in much greater profitability in the long term. Most enterprises have a general understanding of how advisors spend their time. But a close examination of…

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The 7-Step Financial Planning Process: How Advisors Can Adapt for Compliance

The CFP Board’s new Code of Ethics and Standards of Conduct went into effect on October 1, 2019. This comprehensive update to the Practice Standards, the most recent to address the delivery of financial planning services since 2007, focuses on ethical responsibilities in developing, presenting, and implementing recommendations. CFP® professionals and advisory firms must understand…

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