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Strategies for staying on prospective client’s mind

To stay on prospects’ radar without pestering them, Bryce Sanders of Perceptive Business Solutions offers seven tips. Among them are finding the right channel through which to communicate, offering new information and making periodic phone calls. ThinkAdvisor

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How to play to the instincts influencing clients’ decisions

Top financial advisors understand the human decision-making process and use this knowledge to their advantage when prospecting, Matt Oechsli writes. He discusses the role human instincts play and looks at four components that factor into instinctive decision-making: negativity bias, confirmation bias, herd mentality and pattern recognition. WealthManagement

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13 common misconceptions about advisors

The general public has a number of misconceptions about financial advisors’ jobs that advisors would be wise to address with their clients, writes Bryce Sanders of Perceptive Business Solutions. These include that all fees go directly into the advisor’s pocket and that an advisor’s job is to keep clients from…

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FINRA warns advisors of email phishing scam

The Financial Industry Regulatory Authority has warned advisors of an email phishing scam in which compliance personnel are asked to open an attachment that “could pose security risks” to a computer network. The email appears to come from a credit union in Indiana that wants to notify the advisor of…

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How to make the best first impressions with clients

Advisors “cannot afford to botch the first impression” in today’s highly competitive environment, writes MarKay Long of The PT Services Group. She suggests advisors stay consistent and polished across all business channels, communicate with staff on the importance of first impressions and make physical updates to the office. ThinkAdvisor

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Many advisors miss out on succession planning

Just 36% of firms that are prospective sellers said they had a succession plan in place, according to a new study by Franklin Templeton. Pierre Caramazza, head of the Private Wealth Division at Franklin Templeton, suggests this could be because advisors are so busy helping others that they forget about…

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Debunking common myths in wealth management

Industry experts April Rudin and Will Trout each present five beliefs they say are prevalent in the wealth-management industry but simply aren’t true. Among them are that an advisor’s job is to educate clients and that most clients want to see their advisor in person. WealthManagement

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4 tips for successful sales conversations with prospects

When entering a sales conversation with a prospect, “keep an open mind and accept that you might not know the prospect’s true need,” writes John Pojeta of The PT Services Group. He offers four tips for a successful conversation, which include refraining from overpreparing and allowing the prospect to speak….

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Focus on consequences when selling men LTC insurance

Men tend to ignore or feel indifferent about risk, making it difficult to sell them insurance, including long-term-care insurance, writes Harley Gordon of the National Academy of Elder Law Attorneys. Gordon suggests focusing the conversation on consequences for loved ones, rather than risk to oneself. InsuranceNewsNet Magazine

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Survey: More millennials using financial advisors

Millennials are increasingly seeking professional financial advice, with 42% using an advisor in 2017, up from 36% in 2016, according to a survey from the Transamerica Center for Retirement Studies. The survey also showed the use of financial advisors fell 2 percentage points to 37% during the same period for…

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