Knowledge and Insight
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Financial Planning's Future: CPAs?
Added on April 2014 in Plan for the Future
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Summary: There are tried-and-true battle plans as firms labor to recruit planners into their ranks: poach from rival firms, lure brokers away from the wirehouses, train new graduates to become CFPs, etc.But as HD Vest President and CEO Roger Ochs sees it, the practice of essentially trading advisors with other firms is a zero-sum game. Instead, HD Vest - which believes that a tax return is a "road map" that can help a professional build a comprehensive financial plan - seeks to fulfill its growth strategy by turning CPAs into CFP/CPAs.
Hello Kids--or Goodbye Assets
Added on April 2014 in Plan for the Future
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Summary:The average adviser is around 50 years old, and the average client is a few years older. That means the children of our clients are reaching an age when they make independent financial decisions. What happens if they don't feel much of an affinity with you? Hello, next gen. Goodbye, assets.
Planners on Campus
Added on April 2014 in Join an RIA
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Summary: As the late afternoon sunlight casts shadows through the lecture hall, a handful of students at William Paterson University in Wayne, N.J., watch their professor fill a whiteboard with the words “broker,” “wirehouse,” “insurance,” “RIAs” and “suitability.” Indeed, making financial planning a viable academic pursuit for undergraduates is meant to overcome one of the industry’s big obstacles: the fact that young people just don’t seem that interested in joining it.
Advisors: Are You Confident in Your Value?
Added on April 2014 in Manage Your Practice
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Summary: One of the biggest hurdles advisors must overcome in our industry today is having confidence in the value they bring to the table. If you’re not completely comfortable with how you position yourself and the way you communicate your value, it’s time to rethink your approach. Clients and prospects alike sense uncertainty and recognize when you don’t believe in your own message. Establishing a strong opinion and exuding confidence require digging a little deeper. So what can we do to improve our effectiveness? Here are a few tips to help boost your confidence and improve how you communicate your value proposition:
Two Reasons Why a New Wave of Breakaway Brokers Is On the Way
Added on April 2014 in Join an RIA
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Summary:Growth in the registered investment advisor (RIA) channel has surged in recent years. Once derided by some as a temporary fad, independence has become the new normal for advisors considering the move from a wirehouse or other channels. The RIA model is ideal for those seeking greater autonomy in running their businesses, higher income potential, and the ability to have more personal relationships.
