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1. I’m Predicting Home Prices Will…
Can you name America’s greatest invention? The U-S-A pioneered many world-changing disruptions. The internet, airplanes, computer chips, TV, nuclear power, and refrigerators were all invented by Americans. But the award for the #1 invention of all time goes to… fixed-rate mortgages. When Americans sign on the dotted line to buy a house, they typically lock in their monthly payment. Roughly 95% of current US mortgages are “fixed rate.” — Stephen McBride
2. Why Investors Do Not Want a Financial Plan
The number one reason why clients and prospects don't want a financial plan from their financial advisor. Working with financial advisors as a coach and practice management expert I always get asked the question what do I do when the client or prospect does not want a plan? Financial advisors are baffled about why someone would not want a financial plan. — Grant Hicks
3. Conventional Financial Planning Is Far Worse Than Anyone Thinks
In January, PhD economist, Wade Pfau, one of our nation’s most respected authorities on retirement decisions, co-authored, with CFA Massimo Young, yet another devastating critique of conventional financial planning. The study, tellingly titled, The Dangers of Monte Carlo Simulations, focused on conventional financial planning’s core element – Monte Carlo simulations of portfolio survival rates. — Laurence Kotlikoff
4. Target Market: You Actually Need 3 of Them...
Whenever we talk about target marketing and chasing an ideal client it seems to be assumed that there is just one “right client profile”. Not true. There are usually 3 target market client profiles that I recommend, as we have a commercial requirement to balance up the odds of getting the business levels we need with the size of the market segment. — Tony Vidler
5. Three Things You Should Know as You Guide Your Female Clients
When it comes to women and investing, it’s a topic that is near and dear to my heart. Throughout my life, I have had very close relationships with my mom, grandmother and great-grandmother, which also means I have witnessed some of the challenges that can hit women especially hard. And it’s why I’m proud to work for a company that helps bring confidence and financial independence to so many women. — Melissa Brandt
6. The Huge Debate About Remote Working Rumbles on …
Related to the end of cities is the fascinating friction between employers and employees over where to work these days. Some believe you have to come back and work in the office whilst others protest and claim you can work from anywhere, even on the beach. Who is wrong, or are both right? — Chris Skinner
7. Finding, Attracting and Serving Wealthy Women Clients
Most advisors, financial coaches, and wealth managers would love to serve more wealthy women clients. The first step to achieving this goal is to find and attract them. Then you want to gain their business and retain them. The next step is to get warm introductions to their friends and family. To effectively serve female clients, you must meet them where they are. This requires that you guide them in reaching their financial goals and dreams. — Annette Bau
8. Help Your Clients Help Themselves
The word “tasks” implies equal parts boredom and tedium, but tasks also have to get done. Fortunately for registered investment advisors, many client-facing tasks can be intellectually stimulating. Moreover, conversations about these “chores” can be fruitful on multiple fronts. For starters, even mundane topics can be excellent avenues for reconnecting with clients, adding value and showing them that you care. Importantly, accomplishing what may appear to be perfunctory financial tasks can go a long way toward helping clients avoid mistakes and regrets. — Todd Shriber
9. The Market Is Detached From The Real Economy
“The stock market is not the economy.” Such is the latest rationalization to support the “bull market” narrative. The question, however, is the validity of the statement. During the 2020 economic shutdown and surging market rebound I stated: “There is currently a ‘Great Divide’ happening between the near ‘depressionary’ economy versus a surging bull market in equities. Given the relationship between the two, they both can’t be right.” — Lance Roberts
10. Referrals To Encourage and Referrals To Avoid
Referrals is the best way to grow your business. Most people would agree. A current client who understands your value tells another person, bringing them to the point where they are ready to meet and take that next step towards becoming a client. Not every referral is a good referral. Which should you encourage, and which ones should you avoid? — Bryce Sanders
11. Why the Economy Has Done So Well
The economy has marched forward, ignoring higher interest rates and consistent calls for a recession. Credit goes to “We The People,” the citizens of the U.S. A shout-out also goes to Uncle Sam for showering us with trillions of dollars of stimulus during the pandemic to fuel consumption. — Michael P. Lebowitz