Prospects sometimes lie, but that may be because they are trying to be nice or don’t know how to appropriately answer a question, writes John Pojeta of The PT Services Group. To get to the truth, he suggests financial advisors push for specifics and frame conversations in ways that make…
John Hilton notes three positive trends in the financial advisory industry heading into the new year: an increase in annuity sales, high confidence and satisfaction among people who work with advisors, and a growing need for financial planning and guaranteed income. Advisor News
Advisors should avoid invasive, overly forward questions when networking by opening a general business dialogue, suggest Stephen Boswell and Kevin Nichols of The Oechsli Institute. Asking questions about a prospect’s opinion on current events and their own industry experience, as well as sharing personal stories, can prevent an advisor coming…
Doubts about referral marketing have risen in recent years, but advisors can boost success by improving client experiences, writes David Lyon, founder of Oranj. Advisors should recall even the smallest interactions with clients, emphasize their expertise and not be afraid of politely asking clients to spread the word, he writes….
Financial advisors must prepare client portfolios for an inevitable market downturn well before it happens, experts say. Ways to do that include structuring the portfolio based on goals and needs and stress-testing it against various market situations before they happen. Advisor News
Financial advisors need to be proactive with their clients when it comes to tax planning, experts say, especially with the new tax law now in effect. Advisors should conduct an analysis of their clients' tax situations and consider working with an accountant, the experts say. Financial Planning online
Stephen Boswell and Kevin Nichols of The Oechsli Institute point out that affluent prospects tend to operate under a joint decision-maker dynamic, which is why it's important to have all decision-makers involved in the sales process. They also suggest that once a proposal has been made, the advisor should step…
It is a misconception that prospecting for affluent clients is more difficult in a bull market because their investments tend to be performing well, writes columnist Matt Oechsli. He argues their loyalty to advisors is based on the service they receive, not on market conditions. WealthManagement
Millennials represent advisers' future largest customer base, with much of an estimated $30 trillion in generational wealth set to be transferred to them, writes Michelle Jackson. Attracting them as clients involves embracing a combination of technology and human contact, and focusing on a personalized experience. WealthManagement
About 10% of Americans older than 60 are victims of financial abuse, according to the National Center on Elder Abuse. Clearly defining mental capacity and creating revocable trusts are among seven tips from attorney David Lenok for advisers to protect clients. WealthManagement
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