How to Build Client Trust, Even in Times of Volatility
It’s no secret that trust is the lifeblood of any financial advisor’s business. Without it, you don’t get new clients or keep existing ones. The fact that a household chooses you demonstrates some measure of trust. Still, a more accurate measure of trust emerges when market conditions become volatile. Financial advisors who fail to…
Starting Strong: 4 Financial Priorities for Recent Graduates
Your Clients’ Kids Are Graduating. Here’s How You Can Help Just over 4 million kids graduate college in the U.S. each year. We celebrate this great accomplishment every year, but after the confetti settles, many of these graduates face a new set of challenges. Finding a good job, managing student debt, finding a place…
WealthPlan Group Launches A New Peer-2-Peer Forum
WealthPlan Group is excited to announce the launch of our new Peer-2-Peer forum for financial advisors. This launch represents our commitment to connecting financial advisors with the support and insight they need to accomplish new growth in their firms. The Peer-2-Peer Philosophy Among our community of advisors, we have represented some of the…
Can I Still Retire During a Recession?
As the flood tide of the pandemic has generally receded, America is still attempting to understand just how much the economic shoreline has been changed. After the charging bull market that marked the initial rebound, Americans are growing worried about the word “recession”. Are we in one? What will happen with inflation? One particularly…
The Future of Advisor Independence
We’ve written before about the rapidly changing landscape occurring in the financial planning industry. The rapid exodus of advisors moving toward independent models is no secret. The question isn’t about if change is occurring – it’s where this course change is headed. Today, we dive into the priorities advisors should be watching as their…
Downstream: The Financial Planning Futures of Millennials and Gen Z
If you ask many financial advisors about their ideal client, they’ll describe someone 45 and older. By this stage in life, many clients have been able to accumulate a higher net worth, and they’re in their peak earning years. Add to that the stereotypical intergenerational friction, and many advisors aren’t chomping at the bit…
Priorities Are the Key to Efficiency
Advisors wear many hats in the course of business – investor, relationship manager, HR, marketer, and whatever else growing your firm requires. The key to creating an efficient firm is not in simply working harder. Efficiency is a matter of focused priorities. 1. Budget Your Time Like Your Money Financial planners know their way…
Advisors Are Nearing Retirement, but Who’s Taking Their Place?
Most advisors have seen headlines about the concerning lack of young talent backfilling the ranks. According to JD Power in 2019, the average age of financial advisors clocked in at 55 years old. JP Morgan recorded that 44% of RIA’s are north of 60 years old. That number has been growing, showing little to…
Growing Financial Advisor Business? Keep Valuation in Mind
Every advisor wants to grow their business, but as many will tell you, not all growth is good growth. Some increases in revenue come with unwanted challenges – demanding clients, bad fits, and other problems. In the big picture, another challenge emerges. Not all business growth actually increases the value of your book of…
RIA Market Trends to Watch 2023
As 2023 begins, it’s important to take a look at the RIA industry and the trends that have been impacting the market. The past couple of years have held some huge barriers for the financial advisory industry, which have in turn affected its trends. Looking at trends from the past year and what can…
Understanding Community Marketing in 2023 for Financial Advisors
In the last five to ten years, the financial planning industry has undergone radical changes in terms of marketing and technology. Still, the lifeblood of winning and retaining new clients is relationships. With a sales pitch as big as a family’s financial future, trust and familiarity are in high demand. This relationship-centric business model…
Multi-Generational Planning for High Net Worth Households
It’s not a bold statement to say the financial planning needs of a high net worth household are notably different than your average middle class financial plan. While not every advisor is looking to focus on high net worth households, those that do need to be prepared for the intricacies and expectations of…