The Practice Management Channel

Date Your Way to More AUM

I tell clients the process of converting a prospect is akin to a first date. Here’s what I mean.

Stuck Without a Succession Plan

Things have been very difficult at our advisory firm since one of the partners announced his intention to retire. I’ve read a great deal about succession planning and I can honestly say, we don’t have one.

The Maladaptive, Irrational Super Sales Producer

Matt is a $1.5 million producer. He has a new Porsche 911, Maserati and a 5,000 square foot house overlooking a valley. He has two beautiful kids, a gorgeous wife and no debt. He has it made. Except for the happiness part.

What Investors Want Most in Investment Reporting

Trust is core to the relationship that financial professionals build with their clients, but certain issues that impact that relationship are out of the advisor's control. Performance reporting is clearly under your control, and our research shows what advisors need to do to respond to their clients’ concerns.

An Emotionally Intelligent CEO

My recent trip to an online job search site,, validated my conviction about how critically important a strong, “emotionally intelligent” leader is to a healthy organization.

Factoring a Gap Year into College Savings

Can 529 funds be used for gap-year expenses? I recently had a parent ask me if their child’s 529 college savings account money could be used to help pay for gap-year expenses. Here’s the short answer: Maybe.

Schwab Market Perspective: Are Danger Signs Rising…or Will the Bull Run Continue?

Are risks growing or will the bull market continue? We believe the answer to both is yes. Political bumbling, monetary policy shifts, and geopolitical tensions have all escalated, but the bull continues to power ahead, largely unscathed by the tumult that surrounds it.

Just more of the same…

Some good data below so I won’t draw out this intro. Stay focused overseas. Keep an eye on earnings which will hopefully be better than the reception that the big banks received on Friday. (But don’t worry, the bank disappointments were interest margin and loan growth caused, not credit related.)

2% GDP Growth – Get Comfortable With It

US gross domestic product (GDP) growth hasn’t been as strong as one would expect at this stage of an economic recovery, still slogging along at a measly 2% rate. But “things are not always what they seem,” and beneath the low headline growth rate lies an economy that’s more potent than GDP stats would indicate.

Venerated Voices™ 2017 Q2 Rankings

Advisor Perspectives, a leading publisher serving financial advisors and the financial advisory community, has announced its Venerated Voices awards for commentaries published in Q2 2017. Rankings were issued in three categories: The Top 25 Venerated Voices by Firm, The Top 25 Venerated Voices by Author and The Top 10 Venerated Voices by Commentary.

The Irresistible Seduction of Process

This is how obsessive adherence to process unfolds into irrelevance.

Seven Surprising Insights about Advisory Fees

I asked the readers of my Inside Information service, members of the Advisor Perspectives community, and others, to tell me how they were charging their clients, and how much. The most interesting conclusions related to a key question that has arisen from the DOL Rule: what is a “reasonable” AUM fee to charge clients?

Can Collaborative Consensus Backfire?

I work in a large financial organization and my team is trying to make a significant business decision. It’s a collaborative culture, which we tout as being very positive. However, when decisions need to be made, we often get stuck because everyone has to have a voice and be heard.

Russia Collusion Story: A Big “Nothing Burger” or a Case for Gold?

Markets seem not to care what the media or polls have to say. The Dow Jones Industrial Average continues to hit new all-time highs. Even though it’s stalled a few times, the “Trump rally” appears to be in full-speed-ahead mode, more than eight months after the election.

Normalizing the Fed’s Balance Sheet – Not so Fast by Steve Malin of Allianz Global Investors

Raising the federal funds rate is just one part of the Fed’s plan for higher interest rates. Another part, according to Steve Malin, investment strategist at Allianz Global Investors, is the somewhat tricky process of purging $2 trillion in US Treasury and agency securities from the Fed’s balance sheet.