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Summary: Take note this year of how often your clients’ holiday cards feature their children as the focal point. Children — particularly those still living at home — play a key role in the determining the values, priorities and mindset of their parents.
In fact, wealthy investors with young children share a number of key characteristics, needs and values that set them apart from childless clients and even empty nesters.
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Summary: Passion or goal commitment? Or maybe they are inextricably linked. Elite advisors, or top performers in any profession, set high goals for themselves because they are passionate about their work. These ambitious goals are challenging and force them to continually strive to improve; whether it’s in the operating room, the concert hall, Madison Square Garden, or the corner office—the professional passion of elite performers forces them into a perpetual growth mode. Here’s how you can challenge yourself in 2014.
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Summary: Financial advisers have found that by focusing on professionals in a particular industry, they become specialists in what those professionals need in terms of financial planning — and learn to speak their language. Marketing, in turn, becomes much more targeted and effective
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Summary: Younger women are more interested in financial issues than their older counterparts, but lack to confidence to take action on those interests, according to a study from Allianz Life. As part of its 2013 Women, Power and Money Study, which was conducted in December 2012, Allianz released further data that focuses on the youngest respondents, those between 25 and 34.
Added on December 2013 in M&A Issues
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Summary: As more advisors prepare for their own retirement and plan an exit strategy, having information on valuation is becoming more important. Indeed, at some point, you’ve probably wondered what your financial advisory business is worth.
Whether you are planning to sell your business to an outside party, thinking of implementing an internal succession plan to transfer ownership to the next generation, or considering the strategic acquisition of another wealth management firm, an understanding of the true drivers of valuation is critical.
