Knowledge and Insight
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Expert Resources: Who Should Be on Your A-List?
Added on April 2014 in Manage Your Practice
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Summary: Back when I was starting out as an advisor, my goal was to be an expert in all areas of finance: investments, accounting, estate planning - you name it. I wanted to be the one person my clients would need. Around that time, I met a hugely respected CPA. I'll never forget walking into his office and seeing a giant stack of accounting books and journals on his desk. "That's the reading material that I need to catch up on to stay current," he sighed. That sentence quickly changed my plans: Instead of trying to be the expert in all things, I decided to work with a team of expert professionals who could help me bring the right expertise to my clients.
Opportunity knocking as clients continue diversifying financial advice: Cerulli
Added on April 2014 in Thought Leadership
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Summary: The turbulence of the Great Recession has prompted investors to seek financial advice from more than one professional, opening up opportunities for advisers, according to a new report by Cerulli Associates. Nearly 40% of investors express an increased need for financial advice, prompting the typical investor to build relationships with multiple financial advisers, according to the report.
My Move: Credit Suisse to Independence
Added on April 2014 in Join an RIA
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Summary: Financial advisor Hal Lambert left Credit Suisse in October to launch Point Bridge Capital, an RIA with offices in Dallas and Fort Worth, Texas. He and his business partner, Jeff Wildin, had been with Credit Suisse since 2005; before that, they spent more than six years at J.P. Morgan. Point Bridge Capital manages over $200 million. The firm uses Pershing as its main custodian and the Dynasty Financial Partners investment platform.
Advice business lags behind comparable careers in hiring women
Added on April 2014 in Thought Leadership
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Summary: Women make up about a quarter of the nation's financial advisers, a pretty skimpy figure considering it is a well-paying career that doesn't require a tremendous educational commitment and offers great work-life balance, at least after the first five years or so. What's surprising is the number of professions that have just as high a percentage — or higher — of women among their ranks.
4 Business-Friendly Options for Providing Clients With Health Care, LTC Services
Added on April 2014 in Manage Your Practice
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Summary: This is a period of uncertainty for fee-based independent financial advisors. On the one hand, ‘robo advisors’ are seeing some success in attracting assets with their consumer friendly interfaces, readily accessible data and low-cost approach. On the other hand, aging Baby Boomers are increasingly turning to advisors for long-term care (LTC) planning and elder care information, advice that requires specialized expertise.
