How I Finally Learned To Delegate By Creating Video Tutorials With Screencasting Software

Posted by Michael Kitces
Source: Nerd’s Eye View blog


As any advisory business grows, eventually the work that was “always” done by the founder has to be delegated, as there’s just not enough time in the day to do everything. Yet speaking from personal experience, delegating can be difficult, as it often feels like it takes even more time to show someone how to do a task and oversee it, than it takes to just do it oneself!


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Smarter, Easier Ways To Delegate

By Kelli Cruz
Source: Financial Planning


To be an effective business owner, you must be willing to delegate and relinquish control. Even I admit it can be a scary proposition at times, but it’s a management strategy that will reward you and your team. Done correctly, delegation allows you to make the best use of your time and skills, develop your staff, groom a successor, and engage and motivate your team. It has another hidden benefit: It will create leverage and capacity for you personally and your senior management team.


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How Advisors Are Positioning Fixed-Income Portfolios In Advance Of The Next Fed Rate Hike Slouching Toward “Bondmageddon”

By Bob Veres
Source: Advisor Perspectives


Most observers believe that the Fed will begin taking its massive foot off of short-term interest rates after the FOMC meeting in June. Nobody knows what will happen next: whether rates will rise dramatically or the bond community will respond with a yawn. Earlier this year, I asked the readers of my Inside Information newsletter service to tell me how they’re preparing for this impending “bondmageddon” (as some alarmist pundits are calling it). The questions were simple ones: What are they investing in and why?


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529 Benefits Go Beyond College Savings

By Liz Skinner
Source: InvestmentNews


Advisers who help clients recognize the advantages of Section 529 plans — beyond saving for college — stand to gain business benefits. The tax incentives of 529 college savings plans are the most obvious reason to suggest clients with children they expect to put through school consider the plans. Most states offer benefits beyond tax-free earnings to citizens in their own plans, and certain states offer benefits for investing in any state’s plan.


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Schwab Sings ‘Blue’ As It Rolls Out It Robo — And Phono — Ahead Of Deadline, With Minimums

By Lisa Shidler
Source: RIABiz


After promising delivery by March 31, The Charles Schwab Corp. opened its robo effort for business and gave it a whimsical, IBM-evoking name, “Blue.” The San Francisco-based firm announced on Monday that investors can start signing up for Blue, which will build portfolios for clients from 54 different ETFs and 27 asset classes to provide investors with personal portfolios.


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Crowded Out

By Diana Britton
Source: Wealth Management


A few years ago, a West Coast-based advisor who custodied with Schwab lost a $3 million client. The client left not because of anything the advisor had done, or didn’t do. Rather, it was because another advisor at a local Schwab retail branch told the client he could manage his account for free.


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Nick Murray’s Hard Truths For Advisors

By Jane Wollman Rusoff
Source: Research Magazine


An infinite number of FAs have sought the wisdom of Nick Murray, the preeminent Advisor to Advisors, via his books, monthly newsletter and nationwide speaking engagements. Indeed, the astute grand master delivers what they seek. For more than two decades now, the highly respected coach and author has helped advisors find the crux of how to succeed in the financial advice business. In 2007, he received the Malcolm S. Forbes Public Awareness Award for Excellence in Advancing Financial Understanding.


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4 Advisor Moves That Shouldn’t Be Legal

Source: Financial Planning


Throughout the years, I have had investors come to me with statements or reports showing some pretty outstanding performance. That can include anything from “market-beating” portfolio increases to truly satisfying amounts of income, with relatively little risk. The vast majority of the time, however, this outstanding performance turns out to be a skillful illusion. When I explain the illusions, I often hear something like “Why is that legal?” I don’t have a particularly good answer other than to say, “It shouldn’t be.”


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Time To Reboot

By Carl Richards
Source: Morningstar Advisor


I can still remember the phone calls. During 2008, when the markets were all over the place, it was a rare day that I didn’t get at least one panicked call from a client. Their questions shared a common theme: What should I be doing?


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In A T3 Teeming With Deals, eMoney’s Edmond Walters Owned Dallas

By Guest Columnist Timothy D. Welsh
Source: RIABiz


If selling your firm to Fidelity Investments for $250 million-plus is the road to complacency, Edmond Walters was showing none of it. The founder and chief executive of eMoney Advisor LLC, who took the stage second at the 10th annual T3 conference in Dallas at the Hilton Anatole hotel Friday, sounded more like the fighting ex-advisor and entrepreneur that he is known to be — albeit one with the wind of a financial superpower at his back in the wake of last week’s deal.


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