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    How to Engage Millennials and Gen Z Who Need Financial Help

    posted in Client Relationships Nov 29, 2022


    For all the stereotypes directed toward Millennials and Gen Z generations, being astute planners for retirement hasn’t typically been one of them. But financial advisors may underestimate how proactive younger generations are, despite retirement being further down the road.

    The financial impact of the COVID-19 pandemic during their prime earning years, in combination with the Great Recession and other global events over the last 20 years, may have impacted these generations to a greater extent than others.

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    How Financial Advisors Can Appeal to Wealthy Investors

    posted in Client Relationships Nov 22, 2022


    It’s a common assumption that most, if not all, wealthy individuals already have financial advisors, and that could make them difficult to engage as prospects. But this isn’t always the case; some have quietly accumulated wealth over their lifetimes without the help of others — through higher earnings, real estate, employer-sponsored plans, inheritances or good old-fashioned savings (and a bit of luck).

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    5 Social Media Tips for Financial Advisors

    posted in Client Relationships Nov 1, 2022


    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 clever 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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    Overcoming Prospect Objections: 5 Conversational Tips

    posted in Client Relationships Oct 25, 2022


    Yes, we’ve all had a similar uncomfortable social exchange at an event…

    “Hi, I’m Steve. I’m a financial advisor.”

    “Nice to meet you, Steve. I already have an advisor.”

    So, what do you say next? You could mention that the shrimp cocktail is delicious and simply move on. But, “I already have an advisor” doesn’t necessarily mean you need to change the subject. It’s possible to continue the conversation without coming off as pushy.

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    Top 7 Investor Scams to Warn Clients About

    posted in Client Relationships Oct 11, 2022


    Fraud continues to be a major problem, especially for older Americans. More than 847,000 complaints were filed with the FBI Internet Crime Complaint Center in 2021 with potential losses topping nearly $7 billion. Who lost out the most? Those ages 60 and over were the most likely victims with losses of $1.68 billion — more than three times as much as some younger generations.1 

    In fact, losses for victims over age 60 increased by a whopping 74% from the previous year, with the average losses topping $18,000 each.2

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    October is Financial Planning Month: Advisor Tips for Clients

    posted in Client Relationships Sep 27, 2022


    October is a time when the harvest is in full swing for many regions of the country. Harvest time is especially satisfying for farmers who’ve planned, planted and tended the fields all summer long and finally get to enjoy the fruits of their labor. Quite literally.

    Similarly, financial security doesn’t just happen overnight, or without a lot of thought, planning and riding out a few storms throughout the seasons of life. Perhaps the metaphor wasn’t lost on those who declared October as National Financial Planning Month.1 

    While some advisors may only offer a perfunctory nod to such a holiday, it could present another opportunity to share with clients how they can potentially improve their financial outlook.

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    Volatile Markets? How and When to Communicate with Clients

    posted in Client Relationships Sep 20, 2022


    Financial advisors generally understand volatility is inherent in the stock market, but the last few years have been putting every long standing assumption to the test. Between the pandemic, unemployment and financial stress, supply chain issues, the invasion of Ukraine and an entire laundry list of worldwide crises, it’s an understatement to say the markets have been on a rollercoaster.

    Even in less globally stressful times, not all clients are as immune as advisors to the ebb and flow of investing. Market dips occurring during more typical times may grip clients with fear, leading to a reactive leap out of their long-term investment strategies. Now, with all that’s been happening more recently, that fear may be amplified and lead clients to make rash decisions.

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    Fintech is Disrupting Financial Services… And That’s OK

    posted in Client Relationships Sep 13, 2022


    Technology advances continue to disrupt the financial industry. Fintech — short for financial technology — is undoubtedly changing the way many consumers engage with their finances and the institutions that help manage them. 

    It’s also changing the way financial advisors engage with clients. While most advisors would admit that they don’t want to return to the analog days of flipping through a Rolodex, some may be hesitant to embrace the fintech era. Some may even feel threatened or intimidated by the advanced algorithms and AI capabilities of some technologies.

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    Connect With Clients, Even at a Distance

    posted in Client Relationships Aug 16, 2022


    When the pandemic first swept across the United States, extreme measures were taken to stem the spread of COVID-19. Millions of Americans and countless organizations shut their doors to the outside world. Chances are, your financial firm was among them. Suddenly, we became a “work-from-home” nation.

    As much of the world ground to a halt, some investors watched in disbelief as the markets plunged, then rose, then dropped again, then ... You get the idea. Since then, other forms of national and global unrest have been added to the mix, and market volatility continues to swing.

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    What Clients Really Want from a Financial Professional

    posted in Client Relationships Aug 2, 2022


    As a financial professional, do you think you know what your clients value in your working relationship, or do you actually know with certainty?

    Of course, certainty in the financial services industry is elusive, but there are principles to consider when meeting with prospective clients. The approach an advisor takes with a prospective client typically needs to leverage different skills and strategies than when working with established clients.

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