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…
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…
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
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…
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
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….
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
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…
Discussing benefits with millennials requires a different approach than was used with other generations, write Cy Moser and Mike Dahlinger of Trustmark Voluntary Benefit Solutions. They suggest sticking to the basics, playing to emotions and stressing value and convenience. Employee Benefit Adviser
A panel of four female financial experts discussed how advisors can offer special help to women, who they said are more likely to experience surprise events in life. These events can include job loss, divorce or issues with child care and elder care. Financial Advisor online
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