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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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    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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    Big Decisions: When Investors Don’t Seek Your Advice

    posted in Client Relationships Mar 2, 2021


    Did it happen again? During an annual check-in with one of your clients, you’re surprised to hear about a job change, a new vacation property or inheritance money that recently got stashed away in a long-term CD.

    These kinds of client decisions are certainly theirs to make. But had they known about potential financial implications and how a decision might not align with their retirement goals, they might have reconsidered.

    So, why didn’t they seek your advice?

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    Guiding the Transition From Accumulation to Income

    posted in Client Relationships Feb 2, 2021

    You’ve listened to their goals, assessed their risk tolerance, calculated their earning potential, and tailored your client’s portfolio in stride.

    But then what?

    Many advisors place an incredible amount of emphasis on helping clients accumulate wealth, and rightfully so. What may be lacking, however, is a plan to help those same clients transition from the accumulation phase to the income phase where they get to reap the benefits of all those years of planning.

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    Build Loyalty Before Your Clients Shop for a New Advisor

    posted in Client Relationships Jan 5, 2021


    Most of the time, financial advisors have inertia on their side.

    In general, people resist change for its own sake, and clients aren’t actively looking to leave their advisor — unless their advisor gives them a reason to look elsewhere.

    So it might not seem like there is much to worry about. But consider the time, effort and investment that goes into prospecting and marketing for new financial advisor clients. Prospect inquiries are down significantly since the start of the pandemic, and in-person marketing and outreach is complicated by potential public health risks.1

    And when you consider the value of referrals from satisfied clients, it’s easy to see why it’s more important than ever to nurture the client relationships you already have today, and show those clients the ways you make a difference in their lives.

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    Year in Review — Financial Advisor Takeaways from 2020

    posted in Client Relationships Dec 1, 2020


    In 2020, the coronavirus pandemic upended nearly every facet of life as we knew it and continues to take its toll. Add to that the political divides, regional unrest and global tensions, and it’s easy to see why markets experienced unprecedented volatility and many investors felt uneasy.

    When looking back at the year 2020, some may say, “Good riddance!” It was certainly a disconcerting year, to say the least, and there are still many challenges ahead. As we look back, however, it’s not all gloom and doom. In addition to the challenges, there were some bright spots and there are opportunities as we move ahead.

    Here are our top 2020 takeaways and related stories for financial advisors and their clients.

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    Focus On Core Values to Achieve Your Goals

    posted in Client Relationships Nov 10, 2020


    Most financial advisors thrive on the feeling of success that comes from guiding a client through discomfort, helping them stay rational and true to their values as they achieve their goals. Many advisors are also well-acquainted with that visceral feeling of failure and discouragement that comes when a client’s stress or fear of uncertainty affects their decision-making, disrupts their progress and leads them off track.

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    How Advisors Can Engage Risk-Averse Investors

    posted in Client Relationships, Risk Control Oct 27, 2020


    Meet Steve and Beth. After the economic collapse of 2008–2009, they couldn’t stomach seeing the financial markets plummet, taking their hard-earned money with it. So they called their advisor, withdrew from the market and cut their losses, vowing never to return. Whenever their advisor tried touching base, he was met with a cold shoulder.

    As the economy regained steam, Steve and Beth watched from the sidelines as markets climbed to new, all-time highs. They knew they were missing out on potential gains and wondered if they should consider risking the market again. “Hey Beth, maybe we should contact our old advisor.”

    And then the pandemic hit.

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    Why Advisors Need Behavioral Finance as Much As Clients

    posted in Client Relationships, News & Press Oct 6, 2020


    If you’re like many financial advisors, you might have studied economics and gotten a business, finance or accounting degree. Or maybe you’re just naturally analytical and have always been good with numbers. Make no mistake, those attributes are definitely a good thing when it comes to managing your clients’ money.

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