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1. Economic Warning From the NFIB
The latest National Federation of Independent Business (NFIB) survey was an economic warning that departed widely from more robust governmental reports. In a recent analysis of small businesses, we discussed the importance those business owners play in the economy. — Lance Roberts
2. How Advisors Can Attract High-Net-Worth Clients
Working on the premise that most advisory firms operate on fee-based models, it’s not surprising that so many target high-net-worth individuals and those in the ultra-high-net-worth camp. It’s simple math. The more assets the firm has under management, the larger its top line should be. — Todd Shriber
3. No One Cares About Your Economic Commentary
Fun fact: the winning ticket for last week’s $1.3 billion Powerball lottery was sold in Portland, Oregon. The winning numbers were 22, 27, 44, 52, and 69. The Powerball was 9, and the Power Play was 3X. Pretty neat, right? You probably don’t even care—and neither do your clients because knowing last week’s winning ticket numbers doesn’t help anyone win tomorrow’s lottery. — Matthew Jarvis
4. AI-Driven Spending Boom Is No Dot-Com Bust for Investors
Artificial intelligence (AI) is creating lots of buzz, and for good reason. New forms of machine learning have the potential to ramp up productivity, and the many potential applications of AI are just now being discovered. But has market enthusiasm for the technology gone too far? — Lei Qiu and Wentai Xiao
5. Decisiveness: A Weakness in Your Sales Process?
Having your prospect commit to a paid client relationship at the end of your first meeting requires decisiveness. Decisiveness on their part, not yours. Ironically, many advisors allow their prospects to avoid being decisive. — Ari Galper
6. What To Do When a Spooked Investor Wants a Portfolio Review
On a recent coaching call with an advisor in The Behavioral Finance Network, he mentioned that a concerned client reached out and asked him, in light of the global conflicts, to review the portfolio. He asked me my thoughts on what he should do. Should he review the portfolio and get back to him with comments, basically saying “don’t worry”? Or should he use another approach? What would you do in this situation? — Jay Mooreland
7. Overconfidence in NFL Drafts: A Lesson for Investors
Most NFL general managers (GMs) are optimistic and displaying overconfidence today as they prepare for today’s NFL draft. The draft is a once-a-year opportunity for GMs to acquire talent. Like investors, GMs often think they are smarter than their competitors, aka the market. Yet, they frequently have similar mindsets and follow the same narratives that drive their competition. — Michael Lebowitz
8. Portfolio Construction: Assembling the Building Blocks
Estimating private asset returns in one of the key building blocks of portfolio construction. The nature of private asset behavior means there are competing return metrics. LPs should understand the advantages, shortcomings, and use cases of each calculation to accurately assess returns. — Hamilton Lane
9. What Clients Expect From Advisors in Uncertain Times
Everyone needs a hug sometimes. OK, maybe clients are not expecting physical contact during times of stock market weakness, but the new CBS series Elsbeth is doing so well, I thought that was an appropriate observation. Regarding “uncertain times” every day can be an uncertain time for the stock market, but we don’t know it ahead of time. — Bryce Sanders
10. Words that Hinder Building Rapport with New Clients
In discovering prospects’ attitudes and desires related to money, we often use the phrase, “Tell me more about…,” or “Tell me how that made you feel.” While the intention is good, using these words can unwittingly create a barrier to rapport and trust. Instead of issuing a directive, make this small change in your phrasing to invite them to share more with you, ensuring your words hit the mark every time. — Paul Kingsman
11. Seven Critical Considerations Selecting a Private Equity Manager
Choosing the right private equity manager is crucial in the private markets industry, where the return dispersion is massive. A growing number of individual investors have been taking a closer look at private equity, which has outperformed the MSCI AWCI index by over 700 basis points over the last 20 years. — Nick Veronis