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Summary: There’s no question that small-business owners benefit from sound wealth planning. But as advisors who serve entrepreneurs know, it’s a two-way street. Clients who launch and run companies frequently impart managerial wisdom that can improve a financial-advice practice. These clients often provide instruction without even meaning to, advisors say, serving either as role models or cautionary tales and offering lessons both practical and philosophical.
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Summary: Financial advisers who want to attract female clients must carefully craft a message designed for that particular woman's knowledge and interest level.
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Summary: New social media tools have made it possible for advisors to throw more effective events than ever before, practice management consultant Dan Klein told a packed room of advisors at the TD Ameritrade Institutional conference here on Friday morning. Rather than simply hoping clients would bring qualified prospects as guests, an advisor can research a supportive client's contacts on LinkedIn, and then suggest specific invitees.
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Summary: An Ohio adviser is using a formal incentive program to encourage her female clients to boost their financial education. Paula Chesser, an adviser with Robert W. Baird & Co. Inc. in Akron, Ohio, created a Savvy Women's Club that hosts eight workshops or seminars for her female clients on topics such as confronting risk in a portfolio and a “Guide to the Financial Markets.”
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Summary: It’s probably the most common scenario in independent advisory firms today: employee goes to firm owner demanding a raise, a promotion, partnership in the firm or some combination thereof. Owner, caught unprepared, gives a non-response, usually including a promise to get back to the employee. From an employee’s perspective, the very worst thing—worse than long hours, unfriendly coworkers or even a micro-managing boss—is uncertainty.