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1. The Easiest Way To Get More Referrals
The easiest method for anyone to generate and get more referrals and favourable introductions is to GIVE more referrals and introductions. This is just not done as much as it could or should by most professionals, and usually they say it is because they “didn’t think of it”. That begs the question of course: If we can’t think to do it then what makes us think our clients will think to do it for us? — Tony Vidler
2. What Advice Do Clients Value Most?
Have you ever heard someone say, “This is just my two cents’ worth, but…”? When you hear this phrase, what does through your mind? Are you looking forward to what comes next? Or bracing for it? The phrase, “two cents’ worth” (or “two cents”) first appeared in the New Testament as an example of commitment – the extremely poor widow gives her only two cents, while the wealthy donate a pittance of their wealth. Today, the phrase mostly precedes advice that Clients are not expecting and haven’t asked for. Millennials (and hip parents) will also recognize the modern, texting version IMHO (In My Humble Opinion). — Dan Smaida
3. The Do’s and Don’ts of Networking with HNW Individuals
Are you a top down or bottom up person? It makes sense to determine the organizations and events that attract HNW individuals, get involved and meet people socially. When business comes up in conversation, you are pretty confident they have the assets to quality as a client. Bottom up prospecting means finding people who will talk with you, then determining if they qualify. Top down might take longer, but can be more rewarding. More fun, too. — Bryce Sanders
4. The Most Profitable Client Niches
Today, you will gain insight into some of the most “Profitable Niche Markets” available for you to serve. — Annette Bau
5. Wall Street Sets Its Sights On S&P 5000
Throughout history, overvaluations of markets have never been resolved by earnings catching up with the price. Secondly, the two-fold problem of the temporary nature of the stimulus and inflation leaves the market vulnerable to a downward shift in earnings expectations over the next few quarters. As noted, Wall Street has ratcheted up expectations to try and justify current prices. While monetary interventions allow market participants to ignore the reality of the economic ties to the market, such does not preclude hair-raising volatility and significant declines, as we saw in March 2020. More importantly, if the Fed backs off, whether by its design or due to inflation, slower economic growth, or massive debt overhead, rich valuations will matter. The risk of disappointment is high. And so are the costs of investing based on analysis without all of the facts. — Lance Roberts
6. What Advisors Should Know About Rolling Returns
When sharing investment results with a client, many financial advisors imitate what they see on financial websites and fund reports, citing year-to-date returns or other routine performance markers. But advisors shouldn't mindlessly mimic the reports. Clearly explaining performance data is critical to gaining and keeping their clients' trust in their process. One data point to consider: rolling returns, which are average, annualized returns for a particular time frame. Many advisors, however, don't consider this data point when reporting returns. Instead, their default route is to parrot those outside sources, using a format for returns based on year to date, quarter to date, and periods of one, three and five years, and "since inception." There is nothing inherently wrong with using these metrics, but it is far more instructive to use rolling returns as well. Here's what advisors should know about rolling return analysis – and how to reveal this illustrative data point to clients. — Rob Isbitts
7. Genomics Disruption Spells Massive Opportunity for Investors
The genomics space isn't new nor is its underlying investment thesis. In fact, genomics is becoming more investable with each passing year as advisors have an increasing array of ideas to discuss with clients, including individual equities and funds. While genomics isn't a young concept, it remains disruptive – arguably one of the most disruptive corners of the broader healthcare sector. One of the primary reasons genomics is a compelling idea for clients, particularly those that can handle some elevated risk because genomics companies aren't your grandfather's blue-chip pharmaceuticals stocks, is that the industry's disruptive capabilities have myriad applications. — Todd Shriber
8. AIG Helping Advisors Streamline the Annuities Conversation
One of the most important roles an advisor takes on is helping clients ensure they have enough income in retirement and by “enough” that means enough as to where material downward adjustments in quality of lifestyle aren't necessary. Smart clients know that this process starts well in advance of retirement and that advisors can add value at various steps along the way. Prime territory for advisors to help clients solver the retirement income equation is with annuities. AIG equips advisors with the resources and tools necessary to present clients with a complete annuities picture. As many advisors experience over the course of their careers, some clients enter the annuities conversation with a working knowledge of what these products are. At the very least, some clients have at least heard of annuities. However, many clients are downright confused by annuities. — Todd Shriber
9. What’s Driving the Frenzy in This Tech Stock?
Shares of Support.com (NASDAQ: SPRT) have risen over 1,650% in 2021 and are up by a stellar 48% in early market trading on Aug. 30. In the last five trading sessions, SPRT stock has returned 250% to shareholders. So, what’s driving the frenzy in this tech stock? — Finscreener
10. Don’t Be Apologetic When Asking for Business or Referrals
For many financial advisors, that moment right before asking a prospect to take action on a recommendation or, in sales parlance, asking for the order is filled with tension. It can be more stressful when asking for referrals. Less seasoned advisors are often overcome with the fear of rejection, which is natural until you’ve developed more confidence in your ability to close. That comes with practice and experience. — Don Connelly
11. 5 Talking Points Advisors Need to Show Women You Care
Advisors all know the importance of marketing, but they may not know that women want a different communication style. It doesn’t matter if we are talking about emails or social media posts women want something different from what most advisors provide. — Adri Miller-Heckman