Investing For Gen Y: 5 Rules To Remember

By Martha White
Source: Financial Planning


Savvy financial planners are always interested in catching the next generation of investors to replace older clients, but serving today’s young adults presents a special challenge. Many members of Generation Y entered adulthood at the time of the worst recession since the Great Depression. Many of these young adults also graduated from college with an unprecedented amount of student debt and have faced a punishing job market.


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Psychic Income

By Deena Katz
Source: Financial Advisor magazine


I was speaking with an advisor friend the other day. “You know, I’d sell my practice,” he said, “but truthfully, I’m getting so much psychic income from it that I just can’t see that right now.” He’s 68. No successor in sight. A nice practice, too. Psychic income cannot be included in real or monetary value, but there is real value in emotional satisfaction.


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RIAs Biggest Buyers Of Firms In 2013

2013 The ‘Year Of The Tuck-In’ As RIAs Acquire Smaller Firms


By Danielle Andrus
Source: ThinkAdvisor


RIAs overtook strategic acquiring firms as the leading buyer of advisory firms in 2013, according to data released last week by Schwab Advisor Services. Mergers and acquisitions are up overall, too, although the amount of assets under management acquired in those deals dropped. There were 54 completed deals in 2013, according to Schwab, representing nearly $44 billion in assets under management. RIAs accounted for 44% of all deal activity.


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Robo Report: Traditional Advisers May Be Biggest Market For Online Investment Services

By Trevor Hunnicutt
Source: InvestmentNews


Younger investors could spend billions of dollars for financial advice online, according to a new report, but the biggest consumers of these services may be traditional firms looking to expand.


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Best Practices In Client Communication For Financial Advisors

By Michael Kitces
Source: Nerd’s Eye View


Communicating with clients effectively has become increasingly challenging in today’s world, not because it’s difficult to find a way to communicate with clients but because there’s often uncertainty about how much communication is appropriate, and by what means/channels. Are in-person meetings best, or are phone calls preferable? Is email better than a phone call? Where do one-to-many communications like newsletters and social media fit in?


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Five Technology Trends That Are Reshaping The Industry

By Bob Veres
Source: Advisor Perspectives


Hold up your hand if you’ve read that technology is dramatically changing the way advisors practice. Now keep that hand up if you’re doing things very differently today with your software than you were five years ago. Hmmmm. I don’t see very many hands still up in the air.


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Is Your Advisor Compensation Model Incentivizing Or Hindering Your Growth?

By Vamsi Yadlapati
Source: ThinkAdvisor


Two years ago, I remember meeting a founder of an RIA firm in the Midwest who we’ll call Mark. Mark had struggled with growth over his career and it was apparent why: he lacked a solid group of talent surrounding him. As a result, Mark worked very hard over the next couple of years to recruit a group of younger advisors who had a demonstrated track record of success. When I recently met with Mark again, I was initially surprised to find out that his firm’s asset levels were barely above what they were in our original meeting!


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Tips For An Effective Study Group

By Beverly Flaxington
Source: Advisor Perspectives


Dear Bev: I have been talking with a couple of advisor friends about developing an informal discussion group. We would share ideas and updates, but not secrets about the inner workings of our firms. None of us competes with one another, we are all based in different geographic areas and we each cater to different markets. Do you have any advice to make our sessions meaningful and practical? – Mitchell D., California


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FAStech, Software Debuts, And A Robo-Advisor: Another Successful T3 Advisor Tech Conference

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


Last week, the 9th annual Technology Tools for Today (T3) conference was underway at the Anaheim Hilton, at the doorstep of the Anaheim Convention Center and Disneyland. This year’s event was the largest ever, slightly edging out last year’s total with nearly 600 attendees, including both advisors themselves, and a wide range of advisor tech companies and their representatives.


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Getting Clients To Follow Your Advice: The Panicky Investor

By Olivia Mellan and Kol Birke
Source: ThinkAdvisor


As all advisors know, it’s one thing to provide clients with appropriate advice and another thing to actually get them to follow that advice. That’s especially the case when clients experience short-term market fluctuations, have troubling conversations with their peers, engage in too much CNBC watching or fall prey to intrafamily disputes over money.


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