The Financial Planning Channel

Our Message to Congress: Save Our Savings!

One of President Donald Trump's campaign promises was to overhaul the US tax code. The administration recently released its tax proposal, and the pundits have been weighing in on how it will affect us all. As Congress continues to debate the latest version of the plan, which passed through the House of Representatives on November 16,

Dealing with Weaknesses

Shouldn’t we spend some time addressing our weaknesses and turning them into strengths rather than always dodging them and doing the same things we have become comfortable doing?

The Central Question for Your Business

Almost 60 years ago, an article appeared in the Harvard Business Review that posed the most important question for any business – and a question that is essential for advisors to address today.

Building client trust: The true value of a value statement

Open up with clients to earn trust.

Six Phrases Advisors Should Never Use

Most financial advisor websites, brochures and social media campaigns are generic. Their jargon is meaningless. If you’re using any of these six phrases then kick them to the curb.

Vanguard's Lesson on Great Client Communication

Advisors can learn from Vanguard, whose advice platform is adding $5 billion in assets a month, in part by making videoconferencing a core part of how it communicates with clients.

The October Employment Report

As expected, nonfarm payrolls rebounded from hurricane-related effects. The unemployment rate edged lower, but that may have been noise. Leisure and hospitality was the sector most affected by Hurricane Irma, which might explain the choppiness in average hourly earnings (up 0.5% in September, flat in October).

U.S. Workforce Recovery

We've updated our monthly workforce analysis to include last week's Employment Report for October. The unemployment rate fell to 4.1%, and the number of new nonfarm jobs (a relatively volatile number subject to extensive revisions) came in at 261K.

Are Family-Based Practices Doomed to Fail?

Are family businesses doomed to fail? It’s killing the great advisory firm we have all inherited.

From Trust to Loyalty – Five Ways to Deepen Client Relationships

To build lasting trust, it needs to be earned. Our survey of wealthy investors identified five steps advisors should take to strengthen client relationships.

You’re Not a Life Coach (So Don’t Try To Be One)

Recently, I’ve noted a new trend. Some advisors are extending their services to being “life coaches” to their clients. Advisors who embrace this concept need to be acutely aware of their limitations.

Will I Lose Clients By Focusing on a Market Niche?

Despite what you may think, your current clients will not dump you, and you won’t lose wealthy prospects by targeting a vertical – if you do it right.

Year-End Tax and Financial Planning Ideas

After the 2016 presidential election, we knew that 2017 was going to mean a change in direction for the country. President Trump ran on a platform of tax and healthcare reform, which seemed to signal a new frontier for tax and financial-planning strategies. So a year later, where do we stand?

How required returns can ease a client's mind

Learn how the right focus can help

Part 3 Building Portfolios: Diversification without the Heartburn

Part 3 Building Portfolios: Diversification without the Heartburn The wisdom of diversifying investor portfolios across a wide range of asset classes is indisputable. But diversifying client portfolios beyond mainstream stocks and bonds comes with challenges, starting with clients’ unfamiliarity with diversifying asset classes and a propensity for clients to regret diversifying when results disappoint.