Practice Management

Practice Management (170)

Promote Your Fee Model to Win Clients

Advisors are increasingly embracing fee-based compensation, in large part, to gain a competitive edge by claiming that the revenue model helps avoid conflicts of interest that occur when generating sales commissions.

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Easy Ways to Produce Compelling Content for Clients

Client newsletters discussing financial planning topics can be powerful educational and marketing tools as they can help an advisor’s name in front of clients. Newsletters can also enhance an advisor’s image by positioning themselves as subject matter experts.

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Trouble Navigating the Efficient Frontier?

The efficient frontier, which involves including a variety of asset classes within a portfolio to manage risk, is the mainstay of modern portfolio construction.

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How to Leverage Wholesaler Relationships

Not all wholesalers are a good match for all advisors. Many, of course, can offer strong performing products, but not all wholesalers can offer expertise, specific products, and value-added services that are appropriate for every advisors.

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Beware: You Can Inadvertently Becoming a Custodian

Advisors typically rely on third-party custodians, so they typically gloss over rules that govern the services. However, doing so can be a mistake. So reports the Journal of Financial Planning.

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Don’t Overlook a Strong Narrative for Winning New Clients

Pitching a compelling story about a firm’s history or cultural that emotionally resonates with prospects can be more effective for winning new business than spewing data and figures. So reports ThinkAdvisor.

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Kick the Tires During the Dog Days of Summer

Many clients and prospects are focused on vacations, weekend getaways and cookouts during the summer months rather than on financial planning, making it difficult for advisors to prospect new business. Yet, the slow months of summer can be an important time period for advisors to conduct an internal look at their businesses and possibly increase the efficiency of their operations and marketing efforts.

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Avoid Hiring the Wrong Communications Staffers

Some firms prefer to recruit talent from other industries to gain a fresh perspective on pitching their investment products or financial planning services. Others prefer seasoned financial veterans who have extensive experience with crafting messages for investors. Which approach is better when hiring a communications staffer, such as graphic artists and writers?

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How to Manage Summer Interns

Summertime is fun time, with vacations, barbecues and late sunsets that can make weekday evenings almost feel like weekends. Yet, the dog days of summer are also a time for many financial advisors to work closely with interns, which can be challenging.

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Indy Advisors Say Women, Gen X, Gen Y Key to Future Biz

Independent registered investment advisors believe women, Gen X, and Gen Y will be driving factors behind their practices in five year, reports Financial Advisor.

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