Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
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How to connect with the fastest-growing client demographic
Added on January 2014 in Thought Leadership
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Summary: Financial advisers seeking to build relationships with the fastest growing demographic in America just need to reach out and connect with it. The Hispanic community has a significant unmet need for financial advisory services, has been historically underserved by advisers — thanks to a handful of common misconceptions — and would be very receptive to financial advice if only advisers reached out, according to a study by Prudential Financial Inc.
Advisor Opportunity? Emerging Millionaires, Study Shows
Added on January 2014 in Thought Leadership
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Summary: The study from Fidelity's Insights on Advice series shows that 77% of those averaging $800,000 in total assets and an average household income of $150,000 do not have a written financial plan with 70% reporting they are "not very knowledgeable" about investing. Even so, only 51% said they work with financial advisors and 39% are "choosing to go it alone" with investing. Of those not working with a financial planner, 46% indicated they felt advisors "aren't interested in investors with smaller assets" and 53% were turned off by advisor fees.
Advisors Can Fill Obamacare Knowledge Gap
Added on January 2014 in Thought Leadership
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Summary: A financial advisor who knows the ins and outs of the Affordable Care Act (ACA) and Medicare will have a huge advantage over those who do not, according to John Carter, president and COO of Retirement Plans for Nationwide Financial. According to the Nationwide survey, What Americans Don’t Understand About ACA, 75 percent of boomers do not know that the ACA does not cover long-term care. Likewise, 76 percent do not know their personal benefits under ACA and 37 percent do not know what the ACA exchanges are
What Do Young Near-Millionaires Need? Advice. What Don't They Have? Advisors.
Added on January 2014 in Thought Leadership
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Summary: A survey by Fidelity Institutional Wealth Services goes some distance in providing the answers regarding next generation of millionaires and what the opportunities are for advisors who structure their offerings to attract them.
Survey Reveals Why the Ranks of RIAs Are Growing
Added on January 2014 in Thought Leadership
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Summary: “2013 AdvisorBenchmarking All-Channel Study,” was released last month by WealthManagement.com. The study polled some 2,400 financial advisors “across all channels,” identifying trends among “top performing advisors” (based on growth in AUM and profitability), and more importantly, differences between various advisor channels. Even with only a few data points, those “differences” reveal why the ranks of RIAs are growing, while most other advisor groups are shrinking.
