Sales & Marketing
When financial advisor Allan Boomer hired a new millennial advisor, he learned a lot about what clients seem to hate about advisors, and it helped him improve his practice. In a column at Financial Planning, Boomer points out what advisors can improve upon, including communication, open-mindedness, diversity, and appearance. “We should all embrace the concept of continuous improvement,” he writes. See a link to his column below. Also, a free online “Interview an Advisor” tool, launched by the AARP and NASAA, gives advisors even more reason to be well prepared for prospects’ questions about licensing, compensation, services and standard of care. “AARP’s new interactive guide will help investors avoid confusion about a financial professional’s standards and qualifications,” Jean Setzfand, AARP senior vice president, programs, told Financial Advisor. See the full story below.
Why clients hate their financial advisors
By Allan Boomer
Source: Financial Planning
In general, financial planners do not have the best reputation. I should know — I’ve been working in the industry for the past 20 years. I have been to cocktail parties where people walk away the moment they hear that I’m a financial advisor. But why? And what should we do about it? About three years ago, I recruited an advisor who came from the entertainment industry. Not only was she from outside our sector, she’s also a millennial. Although it was my job to train her, I wound up learning a lot myself.
AARP And NASAA Introduce New Online Tool For Interviewing Advisors
By Tracey Longo
Source: Financial Advisor
The AARP and North American Securities Administrators Association (NASAA) have launched a new online interview tool to help investors quickly get to the meatiest issues when interviewing prospective investment advisors. The “Interview An Advisor” tool provides a script for investors to use to zero in on an advisor’s experience, licensing, education, services and products offerings, compensation and standard of care—namely, whether an advisor is required to act as a fiduciary who is “obligated to act in the investor’s best interest.”