Practice Management

Practice Management (170)

The Hidden Appeal of Providing Estate Planning Services

Many financial planners offer estate planning as a way to get a competitive edge over advisors that don’t offer such services. Yet, the most appealing aspect of providing estate planning is that the services can play a big role in retaining assets when clients die by putting advisors in position to secure estate beneficiaries as clients.


How to Capture Millennial Clients

Advisors seeking to pursue millennials as clients should ask their elderly clients to introduce them to younger family members so they can work on establishing new relationships. So reports The Business Journals.


Firing Clients is Just Part of the Job

Advisors shouldn’t be afraid of firing clients who require too much attention relative to the amount of revenue that they produce, says Brian A. Carlis, a securities arbitration lawyer with Lawrenceville, N.J.-based Stark & Stark. So reports Financial Advisor.


How Your Body Language Impacts Client Meetings

With increasing competition from low-cost robo-advisors, traditional financial planners are seeking new ways to capture clients by differentiating their services from those found in cyberspace. Many advisors are emphasizing that face-face relationships can’t be replaced by impersonal web offerings. At the same time, advisors are returning to basics.


SRI Portfolios: For the Fringe or Worth Your Attention?

At first blush, it is easy to dismiss the merits of offering socially responsible portfolios. After all, limiting portfolios can potentially limit returns and individual clients may have different criteria for applying socially responsible screens, which can increase the need for advisors to customize their services.


How to Grow Your Business with Charitable Giving Services

The combination of holiday season goodwill and year-end tax planning means December is typically a big month for Americans to make donations to charities. Under an ideal scenario, investors’ will make donations to organizations that share their values and are highly efficient in making sure that donations aren’t squandered on administrative expenses and unreasonably high employee salaries. At the same time, it’s important to complete charitable giving transactions in a manner that maximizes tax advantages. For financial planners, therefore, providing charitable giving assistance can be a powerful way to strengthen client relationships and improve prospecting efforts.


Help Clients Fight Holiday Spending Impulses Without Being a Scrooge

A raging bull market, increasing home values, and a big drop in gasoline prices are helping U.S. consumers feel more confident about their finances. Indeed, the University of Michigan Consumer Sentiment Index reached 86.9 in October, which was its highest reading since July of 2007.


Social Security Outlook Remains Muddled after Midterms

With the Republicans winning control of the Senate in the midterm elections, the focus of Congress is expected to change, especially considering that the party also strengthened its control of the House of Representatives. Needless to say, many Republicans campaigned on a pro-economic growth platform that calls for tax reform, government spending cuts, and changes to regulations that would make the country more business friendly.


Plan Now for Taxable Mutual Fund Distributions

In the years following the subprime mortgage crisis, mutual fund investors have enjoyed the equivalent of a tax holiday. Most funds have had multiple years of capital losses on their books that they have used to offset income and gains, thereby greatly reducing or eliminating the need to make taxable distributions.


How Do You Help Clients When Market Volatility Spikes?

Fears over slowing global economic growth, geopolitical turmoil and the potential for the Federal Reserve to raise interest rates have taken equity investors on a rollercoaster ride during the past few months. Indeed, in some days, broad-based equity indexes have declined more than 2% as pundits have opined that Europe may be on the verge of a recession. The rise of the Islamic State in Iraq and Syria combined with concerns over Russia’s annexation of Crimea and resulting sanctions against the country have also weakened investor sentiment.


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