- Are CDs Back? Where Advisors Are Telling Clients to Stash Cash as Rates Rise
With the Federal Reserve raising its benchmark interest rate month after month, rates on lending products have climbed as well. Certificates of deposit (CDs) are no different. The average rate on a six-month CD has ticked back up to just… read more…
- How Advisors Handle an Ever-Changing Retirement Age
When it comes to Social Security, age 67 is considered full retirement age. But it hasn’t always been that way. Originally, the Social Security Act of 1935 set the retirement age at 65 years old. The age increased to 67… read more…
- Will Artificial Intelligence Revolutionize Estate Planning? What Advisors Should Know
Estate planning attorneys and financial advisors be aware: Artificial intelligence, including tools such as ChatGPT, may have the ability to shake up legacy planning in a powerful way. In fact, ChatGPT recently passed the bar exam, scoring high marks without… read more…
- How to Build a Financial Advisor Practice
Making a name for yourself in the financial advisor space can be a test of your entrepreneurial and creative skills. There’s steady pressure to keep pace with trends and stay up to date on the latest tech innovations. And not… read more…
- Pros and Cons of Becoming a Financial Advisor
Becoming a financial advisor is a career path you might consider if you enjoy helping others and have a passion for finance. Like any other profession, there are both advantages and disadvantages to working in the financial services industry. Weighing… read more…
- What Advisors Should Tell Clients About the Debt Ceiling Negotiations in 2023
Many economists agree that a federal default would be catastrophic. If Congress refuses to raise the debt ceiling, which House Republicans have threatened to do unless President Joe Biden’s administration grants them certain policy concessions, the economic damage could be… read more…
- Cyber Security Is a Client Service That Advisors May Be Overlooking
With cybercrime increasing at a high rate in recent years, advisors can’t afford to overlook its impact on themselves and their clients. Cybercrime has increased by over 600% since the start of the COVID-19 pandemic and is expected to nearly… read more…
- What Most Advisors Are Missing About SECURE 2.0 Act
When President Joe Biden signed SECURE 2.0 Act into law in late December 2022, advisors began digesting the provisions of the legislation. The changes inside SECURE 2.0 range from new rules related to 529 college savings plans to when retirees should take… read more…
- How to Grow Your Client Base as a Financial Advisor
How do financial advisors get more clients? It’s a commonly asked question and one that you might have pondered many times if you’re hoping to scale and grow your business. There’s no magic secret or key to how to grow… read more…
- Client Acquisition Strategies for Financial Advisors
Acquiring new clients is essential for fueling growth in your advisory business but there’s no single way to approach it. Some of the most effective client acquisition strategies for financial advisors can include cold calling, digital marketing or in-person networking.… read more…
- Financial Advisor Client Retention Strategies
Acquiring new clients is one of the top priorities for your business. But client retention is equally important. A high client turnover rate can be detrimental to your bottom line. And it may deter new prospects from seeking you out.… read more…
- The 6 CFA Exam Prep Courses and Books to Consider
Becoming a chartered financial analyst means first passing the CFA exam. It’s not uncommon to spend 300 hours or more studying for each of the three levels of the exam, meaning you’re looking at a total investment of 900+ hours… read more…
- Advisors Eye Whether They Should Recommend a 4% Withdrawal Rate in 2023
The 4% rule for calculating portfolio withdrawals has been a tool advisors use to help clients plan for retirement since its inception in the 1990s. In that time, it’s become perhaps the most well-known retirement planning rule of thumb. But the… read more…
- 5 Common Mistakes High-Net-Worth Clients Make
When it comes to advising high-net-worth clients, financial advisors have a lot at stake. That’s especially true when it comes to helping clients steer clear of common mistakes and pitfalls. “Addressing common client mistakes looks different with high-net-worth clients because… read more…
- How Advisors Can Use ChatGPT and AI to Grow or Streamline Business
Recently, buzzy artificial intelligence tools have demonstrated the capability to shake up nearly any industry. That includes financial advising. In recent months, artbots like DALL-E have shown how they can create works of art, while chatbots like ChatGPT can write… read more…
- 7 Tax Pitfalls Financial Advisors Should Avoid This Season
Some financial advisors may be tempted to wash their hands of taxes and leave them to the accountants. But that approach doesn’t ensure the best outcome for their clients. Great financial advisors know that, while the calendar has turned over on 2022,… read more…
- Professional Organizations for Financial Advisors
Joining one or more professional organizations can be a smart move for any advisor who’s interested in scaling. Financial advisor professional organizations often provide opportunities for networking, enhancing your education and building a sense of community. If you’re looking for… read more…
- 5 Courses to Help You Prep for the CFP Exam
Taking the CFP exam can be an important step in advancing your career and it’s important to prepare for it thoroughly. Utilizing CFP exam prep materials and resources can help you better understand the scope of the test and what… read more…
- What Does More CFP Professionals Mean for the Industry?
Each year, thousands of freshly certified financial planner (CFP) professionals enter the industry. In 2022, more than 9,600 new certificates were issued, which was a gain of 5% in a single year. As the CFP designation has grown in popularity,… read more…
- 12 Podcasts for Financial Advisors
Tuning into financial podcasts can be a great way to track the latest industry trends and developments, level up your marketing game or simply learn new skills that you can use to grow your business. With so many financial advisor… read more…
- Will the M&A Market Stay Red Hot for Advisors in 2023?
For advisors, 2022 wasn’t just a year defined by high inflation and market volatility. It was also a blockbuster year for mergers and acquisitions (M&A) within the wealth management sector. In 2022, a record number of transactions were announced, according to… read more…
- How to Network as a Financial Advisor
Networking can be a great way to build your professional contacts list and engage with prospective clients. After all, you’ve likely heard that it’s who you know, not what you know, that matters in business. And that’s true to some… read more…
- Social Media for Financial Advisors: 5 Ways to Drive Business
Social media offers virtually endless possibilities for scaling your business and its value is not to be underestimated. With billions of people using social media channels to connect and consume information, advisors are increasingly taking notice of its possibilities. For… read more…
- Is Being a Financial Advisor a Layoff-Proof Job?
The last cyclical recession wiped out financial services. Entire firms melted down, and professionals, ranging from personal advisors to institutional investors, lost their jobs. In 2023, talk of a recession is on the horizon again. Now, however, the larger economic signals are… read more…
- How Advisors Are Approaching Inflation in 2023
Consumers and investors aren’t the only ones worried about inflation. Rising prices remain top of mind for financial advisors, who continue to field questions from clients about inflation’s impact on their financial plans. The good news is that inflation appears… read more…