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.