Attorney Andy Friedman says there’s more market — and political — volatility to come this year, and points advisors to some ways to take action. See the AdvisorOne article below. Also, Michael Kitces writes about making connections and building trust with potential clients before you even sit down with them face to face. Below is the link to his blog post at Nerd’s Eye View.
6 Moves Advisors Should Make In ‘Volatile’ 2012: Andy Friedman
By James J. Green
The attorney and longtime Washington observer Andy Friedman told attendees at the Raymond James Financial Services national conference that advisors and their clients can expect continued volatility in the markets—and in politics—for the rest of the year.
Building Trust With Potential Clients You’ve Never Met (Yet?)
By Michael Kitces
Source: Nerd’s Eye View blog
Good financial planning is typically built upon a personal relationship between the client and the planner, as trust is established to the point that the client is comfortable to share and engage with the planner … Yet the reality is that while it takes time to build trust, it doesn’t necessarily have to be built face-to-face.
Breakaways & Aspiring Advisors
Wirehouse advisers are becoming more comfortable with the idea of breaking away as they see colleagues do it. See the Investment News article below for more information on the trend. Also, Tim Oden of Schwab Advisor Services writes about what you need to consider when recruiting young talent for your firm. See his column in AdvisorOne below.
Breakaway Brokers Cleared For Takeoff
By Dan Jamieson
Source: Investment News
Observers of the registered investment advisory business say that many of the advisers leaving the larger legacy brokerage firms are doing so at the urging of their clients and former colleagues.
5 Tips On Recruiting [Young] Breakaway Brokers
By Tim Oden, Schwab Advisor Services
You need to take the right steps to find, attract and ultimately hire the right young advisor—one who is both highly qualified and a great fit for your business. With that in mind, here are some key considerations and tips that can help you recruit top young talent …
If your clients are having trouble tracking down their Social Security account records, you can help them access their information online. See Michael Kitces’ post below from Nerd’s Eye View. And, advisors continue to have some concerns about the DOL’s fee disclosure guidance — and issues that have not been addressed. See the article below from plansponsor.com.
A New Way To Review Client Social Security Benefits – Online!
By Michael Kitces
Source: Nerd’s Eye View
The Social Security Administration recently launched a new online platform allowing anyone to access their own Social Security benefits estimate and earnings record. Many planners are now starting to walk clients through the process of claiming their online Social Security account – which can be done on the spot, in the planner’s office, in less than 5 minutes!
Concerns Linger About Fee Disclosure Guidance
By Jill Cornfield
Some advisers say certain issues did not make the FAQs about fee disclosure in the Department of Labor’s recently issued field assistance bulletin.
- RIA Central Digests for 05/29/2012 As you help clients with their financial matters, are you missing the concept of “heritage” planning? Advisor Cam Thornton says people need to tell their story. Read more in the Research Magazine article below. Also, a new study shows that consumers are eager for life insurance coverage, but the problem...
- RIA Central Digests for 05/24/2012 Richard Ketchum, chairman and CEO of FINRA, said broker test scores won’t be revealed on BrokerCheck and discussed other regulatory concerns at FINRA’s annual conference this week. See the AdviosrOne story below. Also, Morningstar has filed a comment letter with the SEC urging more disclosure on target-date funds. The story...
- RIA Central Digests for 05/17/2012 If you’re using a PR firm to get the word out about your practice, make sure the company knows to incorporate compliance rules into its strategy. See the RIABiz story below. Also, SEC Chairman Mary Schapiro is unwavering in her stance that the money market fund industry needs reform. Read...
- RIA Central Digests for 05/16/2012 Practice Management In the area of practice management, read how an advisor incorporates videoconferencing into his practice (Financial Adviser blog) and a consultant’s outline of four ways to create great employees (AdvisorOne). Voices: Nicholas Olesen, On Interactive Technology By Nicholas Olesen Source: Financial Adviser, a WSJ blog ...
- RIA Central Digests for 05/15/2012 When it comes to social media, it’s best to go “all in.” Financial planner Todd Burkhalter gives tips on how to become a marketing “triple threat” in the On Wall Street article below. And, knowing how to talk — and listen — to widows can help ensure they remain your...