Modern Family Planning

By Olivia Mellan, and Sherry Christie
Source: Investment Advisor magazine


If you’re in your 40s or older, you may remember the big flap when TV sitcom journalist Murphy Brown, played by Candice Bergen, decided to have a baby without benefit of marriage. Among those who sounded off was then-Vice President Dan Quayle, who publicly chastised single mothers like the fictional Murphy for “ignoring the importance of fathers.”


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How Digital Do You Want To Be?

By Ann Marsh
Source: Financial Planning


Planning firms need to sit down and carefully examine how far they want to go — or don’t want to go — in transforming their firms into digital operations, two Pershing executives told attendees today at the inaugural InVest Conference in midtown Manhattan. “Everyone races to have a digital component, but they haven’t figured out their entire value” proposition, says Kim Dellarocca, a Pershing managing director.


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An Insider Reveals Turbo-Contents Of The In|Vest Conference In New York, A Summit Of VCs, Robo-Founders And Big Banks

By Alexey Sokolin
Source: RIABiz


Of the $2 trillion in assets to flow into robo-advisors in the next five years, the majority will go into existing financial institutions, says Mike Sha, chief executive of SigFig. SigFig is a robo-advisor that directly competes with those financial institutions, claiming to oversee $350 billion in assets through data aggregation and analytics. Its assets under management are much lower, about $70 million, according to its ADV, and the 25 basis-point fee on managed accounts is how the firm makes money.


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The Seven Dumbest Mistakes I Made As An Advisor

By Robert J. Martorana, CFA
Source: Advisor Perspectives


After 30 years in the advisory business, I’ve made plenty of mistakes. It is my hope that this article will help others avoid following in my errant footsteps. I put together a list of cautionary tales for the interns at my firm. It starts with the big picture and works its way down to more granular issues, and it includes references to best practices I have observed as a consultant.


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Veres: Why The AUM Fee Is Toast

By Bob Veres
Source: Financial Planning


At a recent NAPFA conference, I asked everyone in the audience to raise their hands if they were charging their clients based on assets under management. Virtually every hand went up. Then I asked how many of them were considering a switch to retainers or other fixed compensation at some point in the next couple of years. Once again, virtually every hand went up. Does that look like a trend to you?


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Financial Advisors Can Effectively Deal With Difficult People

By Beverly Flaxington
Source: Morningstar


If you work in the financial advisory business, chances are you have to deal with difficult employees, partners or even prospects and clients. The fact of the matter is that difficult people are everywhere; and dealing with them is excruciating, time consuming and costly. But rather than avoiding or firing difficult employees, it is critical to find ways to work with them to change the difficult interaction into a productive interaction for both parties and clients and prospects can exhibit bad behavior and you might need ways to deal with it. Here is a guideline for financial advisors to effectively and efficiently deal with difficult people.


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Advisor Succession Challenges – Issues To Negotiate And When To Walk Away

By Michael Kitces
Source: Nerd’s Eye View blog


While buying into an advisory firm can be an incredible opportunity in the long run, there are also some very important caveats and potential problems to consider, in terms of both the financial terms of the succession deal, and also the more nuanced challenges of participating as one of several partners in a multi-owner firm.


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Which Asset Allocation Mix Outperforms?

By Craig L. Israelsen
Source: Financial Planning


Over the past several decades, the number of investable asset classes has increased significantly, changing the world of portfolio management dramatically. The challenge of asset allocation now is no longer having too few ingredients to consider but rather selecting among an ever increasing array of sector-specific mutual funds and exotic ETFs.


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Compensation Survey 2015: Crunching The Numbers

By Megan Leonhardt


The industry has come a long way in embracing a fee-based business. Five years ago, fees accounted for less than half of all advisors’ revenue. But advisors derived about 63 percent of their revenue from fee-based assets. And we can expect that trend to continue. “If you’re going to do only a commission-based business, you’re going to fall by the wayside,” says Dan Inveen, principal and director of research at FA Insight.


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7 Technology Tricks Advisers Should Be Using

By Brad Johnson
Source: InvestmentNews


If you’ve been in business for more than 10 or 15 years, chances are you still remember what I affectionately call the “Technology Dark Ages.” Do you remember when almost all business communication was done by fax? Or how about when you had to pull off and find a pay phone to contact a client you were about to meet?


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