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1. Ten Ways Clients Can Provide Referrals
Growing your business through client referrals is an active strategy that needs to be driven. You cannot wait around for something to happen. Years ago, a property developer shared this observation; “Regardless how wealthy they might be, everybody needs something.” How can you get clients seriously focusing on referring business? — Bryce Sanders
2. The Dark Side Of Technological Advancement
It certainly seems that technological advances make our lives better. Instead of writing a letter, stamping it, and mailing it (which was vastly more personal), we now send emails. Rather than driving to a local retailer or manufacturer, we order it online. Of course, we mustn’t dismiss the rise of social media, which connects us to everyone and everything more than ever. — Lance Roberts
3. Why Most Financial Advisors Aren’t Worth Their Fee
When I got started in the business at Morgan Stanley in 1999, it was not uncommon for advisors to charge over 2% advisory fees – especially if they were recommending an institutional money manager. In fact, there was one guy in our office that proudly charged 3% saying he was “worth it.” He wasn’t worth it, I can assure you of that. But he was successful, at least for a while. — Jay Mooreland
4. The Reasons You Are Losing Potential Clients Is Not Rational
With so many advisors to choose from and each appearing to be highly competent, a front-end marketing process based on your competence has lost its leverage in influencing your prospect’s hiring decision. If anything, it engenders the baseline suspicion and distrust that many of your prospects have by default, because it positions you alongside every other advisor making the same claims of credibility. — Ari Galper
5. The Most Important Document You Should Request From a Client
Want to know if that property really does cash flow? Yep, you guessed it. Grab that tax return and pop over to Schedule E. You will learn way more about that property than what the client is going to divulge because no one is ever reporting more income than what they are earning on their tax return. Even the most staunch patriots aren’t running around trying to increase their income so that the IRS can collect more. Can tax returns be misleading? Sure… but they have a lot less ego involved than a person does. — Jamie Shilanski
6. Is the Worst of September Behind Us?
In this episode, our hosts discuss the challenging market conditions in September, historically being a difficult month for stocks. Topics also discussed include the recent Apple event, potential impacts of revised bank capital requirements, and insights into financial sector strategies. — What Does It Mean?
7. Is GDP Overstated Like Job Growth?
To help us appreciate if it is overstated and potentially by how much we turn to GDI. Gross Domestic Product (GDP) and Gross Domestic Income (GDI) are two very similar measures of economic activity. The difference is that GDP measures output, while GDI assesses income. These measures should tell the same economic story. However, GDI has proven to be more reliable and often leads GDP. — Michael Lebowitz
8. What’s Going on in Alternative Markets?
This year’s rally in both stocks and bonds has changed the opportunity set for long-term investors. With the S&P 500 touting a price-to-earnings ratio over 21x and the U.S Agg. yielding 4.4%, the 60/40 is expensive relative to history. Current valuations are trading almost one standard deviation above average, warning the 60/40 may generate only 5.2% annualized over the next 10 years. Against this backdrop, active managers can uncover attractive opportunities veiled by rich index-level valuations, while alternatives, like private equity, private credit and real assets, can improve investors’ long-term return potential while reducing volatility along the way. — Brandon Hall and Katie Korngiebel
9. Invest With More Confidence and Control
When faced with volatility and uncertainty, you may be tempted to stray from your long-term investing plan. Knowing you can adjust your strategy in the near term without undermining your long-term plan may help you feel more in control and confident to ride out the ups and downs. — Lincoln Financial Group
10. Women Making Progress in Investing, But More Strides Are Needed
Increased democratization in investing and rising earnings power are among the reasons why more and more women are investing and wanting to work with advisors to realize their long-term financial goals. Those are positives, but there’s still work to be done. — Todd Shriber
11. Are Wealthy Clients Paying Too Much for Too Little From Their Advisors?
Let's face it, you have to deliver more value than ever before to compete with ideal prospects. You have to have a solid value promise, lower cost, and comprehensive advice and planning as part of your deliverables. You know that ideal prospects are not getting what you deliver, yet they stay with their advisor. Why? — Grant Hicks