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    5 Social Media Tips for Financial Advisors

    posted in Client Relationships May 11, 2021


    Chances are, your clients and prospective investors are using social media. Are you? 

    We’re not talking about personal accounts where you share family photos or a funny meme. Having a separate LinkedIn social media presence for your financial advisory services may help you connect with clients on a deeper level and extend your reach to help attract new ones.

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    Tips for Advising Clients in the Gig Economy

    posted in Client Relationships May 4, 2021


    Have you noticed that some of your clients are foregoing full-time jobs with a traditional employer and are opting for a less structured, sometimes temporary work environment? 

    Freelancers and subcontractors are common examples of gig workers, and the types of work they perform can range from rideshare or delivery drivers to highly educated software engineers or graphic designers. Their office might be in a car, at the kitchen table, or both if they have multiple gigs. And they rely heavily on online platforms and apps for their income.

    While those who work in the gig economy have the benefit of flexibility and calling their own shots, they need to weigh the trade-offs in comparison to a traditional career. 

    Here are some valuable conversation topics you can discuss with clients who are considering transitioning to gig work to help ensure it’s a wise decision, both professionally and financially.

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    Location: Does it Matter to Your Clients?

    posted in Client Relationships Apr 27, 2021


    The digital transformation of financial planning and investment services was well underway before the pandemic forced major changes in all Americans’ daily lives. Many were already using online interfaces and mobile apps to handle life’s daily tasks. Lockdowns and enforced closures only increased the use of technology, from grocery shopping to telehealth visits, and from fitness classes to quarterly check-ins with financial professionals.

    In 2020, technology and health concerns converged to make the virtual meeting a new, safer normal—creating an enormous opportunity for financial advisors. Suddenly, the limits of geography disappeared.

    Or did they?

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    Should Parents Wait to Transfer Their Wealth to Heirs?

    posted in Advanced Planning Apr 20, 2021

    Much has been said about the comparisons between older generations and their younger counterparts. Philosophical debates over work ethic or feelings of entitlement among today’s youth may persist, leading some parents to reconsider leaving an inheritance to their children.

    While some may feel that withholding an inheritance might force children to “make it” on their own, many retirees admit that their own successes are likely a mix of talent and luck combined with a myriad of economic forces beyond their control.

    In the end, most parents desire to leave a lasting legacy for their children, and some may even want to transfer an inheritance while they’re still alive, meaning the Great Wealth Transfer may be sooner than you think for some clients. What are some practical considerations and potential justifications for when they don’t want to wait?

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    Is Early Retirement Always a Healthy Decision?

    posted in Retirement Planning Apr 13, 2021

    For many, early retirement is its own reward. Being freed from the “rat race” of long commutes, deadlines, workplace stress and continual attempts at work-life balance makes the leisurely pace of retirement just that much sweeter. Also, having the time to dedicate to a healthier lifestyle — exercise, eating well, getting enough sleep — is generally understood to contribute to a sense of well-being. The logic, then, suggests that retirement might positively influence a retiree’s health and wellness.

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    The True Value and Benefits of a Financial Advisor

    posted in Client Relationships Apr 6, 2021


    You’re convinced of the value you bring to your clients. Are they? With all the online services, do-it-yourself investment platforms, robo-advisors and industry analyst insights available at their fingertips, some may question why they’d pay an advisor to invest their money for them.

    You may have encountered such objections from prospects and even some clients, but it may have been when market volatility was relatively benign. Then, entered the year 2020 with a pandemic, staggering unemployment, political upheaval and a stock market that responded in stride.

    It’s in times of uncertainty that the benefits of an advisor can especially shine. Still, the value you bring to the table throughout a client’s entire investment lifecycle should not be understated.

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    A Better Understanding of Annuities Increases Consumer Appeal

    posted in Client Relationships Mar 30, 2021


    Whether it’s a debate over the best movie of all time or the greatest quarterback to ever play in the NFL, it’s hard to overcome deeply ingrained beliefs. Emotions can run high and cloud a person’s judgment, leading to a misguided view that may be a stretch from reality.

    These types of philosophical disagreements typically have little consequence, no matter which side prevails. When someone’s misguided beliefs are directed toward finances and retirement strategies, however, the stakes are much higher.

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    Strategies for Clients Who Regret Claiming Social Security Early

    posted in Advanced Planning Mar 23, 2021

    The events of the past year have had a significant economic impact on many families. In particular, the rate of unemployment for those aged 55 and older reached a staggering 13.6% in April of 2020, recovering to 6% by the end of the year.1

    Chances are, some of your older clients were among those laid off, downsized, or temporarily furloughed, forcing them to make financial decisions that might not have been made otherwise, interrupting or at least changing their retirement plans.

    Most notably, clients over age 62 may have claimed Social Security benefits earlier than anticipated and may now regret that decision as the economy improves, and they have the potential to return to the workforce.

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    4 Things Millennial Investors Expect From a Financial Advisor

    posted in Client Relationships Mar 16, 2021


    Much has been said about investing early in life to build wealth over the long term. In contrast to previous generations, however, a growing number of Millennials are making less than their parents did when they were the same age. They also have less net worth and significantly more student debt, which could threaten their ability to achieve their financial goals.1 It’s no wonder that many are worried about their futures.

    Establishing a solid financial plan amid significant economic and global upheaval while watching markets ebb and flow in response may only add to Millennial skepticism and make them wary of investing. These feelings of skepticism may also seep into their attitudes toward financial advisors. It begs the question:

    What attributes and tools do financial advisors need to reach and build relationships with young investors?

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    Combined Income Sources: An Answer to a Sustainable Retirement?

    posted in Retirement Planning Mar 9, 2021

    If you have clients walking through your door, they likely understand the need to supplement any Social Security benefits they’ll receive in retirement. Without question, Social Security is a relied-upon source of guaranteed income for most seniors, but its ability to serve as the sole source of income and still allow them to live a comfortable lifestyle is often insufficient.

    When your clients express concern over whether they’ll make ends meet, leveraging a combination of the following income sources may help them alleviate economic hardships in retirement.

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