Home of the Registered Investment Advisor
By James Carney, ByAllAccounts
Source: AdvisorOne
It’s a fact. Investors rely on referrals to find the financial advisor they want to work with. According to a survey that ByAllAccounts conducted recently, in conjunction with the Paladin Registry, almost 46% of the individuals who responded say they found their current advisor through a referral from a friend, respected associate, CPA or attorney.
By Robert Laura
Source: Financial Advisor
I believe financial advisors of all types can dramatically improve their client relationships (resulting in more client loyalty, and referrals) by paying more attention to the psychology of decision-making than to investment fundamentals, especially when it comes to retirement income planning, says Robert Laura, president of SYNEGOS Financial group.
Source: Financial Advisor (FA News)
Women investors demand significantly more from financial service providers than men, according to a new study by Hearts & Wallets LLC. Entitled Quantitative Panel 2011 Insight Module: Understanding Women Investors, the study found that women investors are much pickier than men about their financial suitors, both in terms of firms and advisors, and the reasons for these preferences.
By Chris Blunt, guest columnist
Source: RIABiz
Losing a spouse is one of life’s most painful and emotionally complex events. Helping clients cope with the aftermath of loss in a caring, professional way can be enormously helpful to those you serve — and support the maintenance of valued relationships as well. Here are five powerful pointers for discussing this complex event with clients.
By Kevin McKinley
Source: Registered Rep
When asked, “Why did you get into this business?” few advisors would say, “A passion for distribution options in inherited retirement accounts.” But taking on the complexity of such accounts will certainly simplify your clients’ financial lives, and that probably is why you did get into the business. Here’s a primer on all the different options available to those inheriting IRAs.
By Andrew Osterland
Source: Investment News
It’s not an easy conversation to have, but financial advisers need to talk to their clients about Alzheimer’s disease and other forms of dementia and the impact it can have on their financial circumstances. The risks aren’t only to the clients. Financial advisers providing recommendations and financial advice to clients suffering from some form of diminished mental capacity are vulnerable to lawsuits and enforcement actions that can destroy their practices.
By Danielle Reed
Source: Financial Planning
Retirement can be daunting — but having sound financial advice makes Americans feel like they have a better handle on it, according to a survey by Franklin Templeton. The retirement survey found that 66% of Americans who work with an advisor know how much of their retirement savings they will withdraw each year in retirement, compared with only 36% of those who have never received professional financial advice.
By Arden Dale
Source: Financial Adviser, a Dow Jones blog
IRS Form 1040 shows how well your clients are doing financially, and how they can do better, say financial advisers who review the form regularly. After reviewing a 1040, adviser Peter Lang has helped clients paying a lot of bond interest shift to tax-free bonds. One client’s form revealed cash-only donations to charity; now, he saves money by giving appreciated stock.
By Thomas Coyle
Source: Financial Adviser, a blog by Dow Jones
Communication is vital to keeping clients calm when markets are in turmoil. Some kinds of communication work better than others, according to a recent survey of about 100 brokers and investment-adviser representatives by asset manager SEI (SEIC). Nearly 60% of them said clients respond best to direct contact through emails, phone calls and meetings. Social media didn’t even come into discussion.
By Charles Paikert
Source: Registered Rep
Given the chaotic financial environment of the past few years, innovative wealth management firms see a real business need to improve the softer side of how they interact with clients. Some of the ways to do this include working in teams, strategically matching advisors with clients, and appointing “client ambassadors” to improve feedback loops.
