Strengthening Your Client Retention Strategies
Client retention is the lifeblood of the financial advisor industry, but dangerously, it’s also something many advisors take for granted. The industry is evolving at a new pace, and the data shows retention like a wave on the cusp of breaking. As we look to the coming year, here is significant food for thought.…
The Moving Target of Financial Independence
Financial buzzwords have a knack for shifting definitions. In some contexts, what they mean heavily depends on who says them. One of the current popular examples among financial advisors is financial independence. Fundamentally, financial independence has a simpler, literal definition. You might have heard it called “work optional”. Whether or not your clients want…
More Advisors Are Outsourcing Investment Management: Here’s Why
There’s a growing trend in the advisor industry toward outsourcing investment management. A Cerulli study revealed that most (54%) CFP professionals now outsource their investment management. In our own conversations, we see a focus on comprehensive planning driving this trend. Advisors want to minimize time spent in the weeds of portfolio management, allowing them…
Key Q4 Tax Conversations for Advisors
Advisorpedia recently reported on the gaps between services expected and services received with advisors’ clients. Among the broadest gaps? Tax planning advice. Even though 92% expected assistance with tax planning, only 25% reported receiving it. For many households, especially high-net-worth families, taxes are the single largest expense on an annual basis. The challenge is…
How to Stand Out: Holiday Marketing 2024
It’s the holiday season, and financial advisors are readying their “here’s our ugly sweater” photos for social media. That said, what else should advisors be doing to make a meaningful impact in the lives of your clients and community? So, while you should still post pictures of your Turkey Day celebrations and office tree…
Referral Marketing for Financial Advisors: A Comprehensive Guide
Referrals are the most powerful marketing tool for financial advisors, and for good reason. They accelerate the trust your prospects need to become clients. The challenge? Referrals aren’t usually a predictable channel. It’s true. Without a referral strategy, you’re relying on your clients and friends to do all the work. With a referral strategy,…
Risk Tolerance: Helping Your Clients Understand Their Portfolio
There’s often a gap between advisors and their clients when it comes to defining risk tolerance. The problem? This is one of the most important aspects of a financial plan to navigate well, as it helps set and align client expectations. Do this well, and clients can retain a higher degree of trust, even…
Guiding Your Business-Owning Clients During Their Exit
If your client is an owner of a business, how they exit their business is likely the most significant financial decision they will ever make. For some, this looks like reaching retirement and passing the baton. For others, they may still be in their 30’s or 40’s and actively looking for their next investment…
Should Advisors Make a TAMP Part of Their Value Prop?
When it comes to turnkey asset management platforms (TAMP), advisors generally make the decision based on how a TAMP benefits their operations. Understandably so – its benefits are substantial when you have the right fit. That being said, the case for a TAMP matters to your clients too. Some advisors are more comfortable to…
5 Key Decisions to Improve Productivity in Your Advisor Firm
Tell us if this soundbite sounds familiar: “I wish I had more time to spend on growing my business. I spend so much time in the weeds that I feel like I don’t have time to grow.” We recently heard this while talking with an advisor who is struggling with inefficiencies in their…
David DeCelle Joins WealthPlan Group
David DeCelle joins WealthPlan Group to launch a new service supporting the firm’s business owner clients in maximizing the sale of their business. OMAHA, July 18, 2023 – WealthPlan Group LLC has announced that David DeCelle has joined its team to help develop a new service offering for their advisors. This new service is designed…
Inflation, Interest, and Investing with Erik Ogard
CIO Erik Ogard recently sat down with financial advisor Wayne Wagner Jr., of Vizionary Wealth Management to discuss investment questions like: Portfolio construction Labor unions Housing market dynamics The impact of rising interest rates Join us as we explore alternative investment strategies, analyze the performance of different asset classes, and provide valuable insights into how…