As much as I like money, I have found that being cheap looks bad, especially for a successful financial advisor.
Choice – more options – as the finest luxury of all. When an advisor helps a client, the door to better options and choices opens wide.
Help your clients see beyond the weekly budget. Help them enjoy the things they want and need.
Millions of Americans are unprepared for retirement because of risk intolerance, creating a massive societal cost.
Personal finance is like a pot of simmering chicken soup on the back burner. They know it’s there and they know it’s savory, but they also know it will not require much attention until they eat it.
Assuming the value that clients obtain from an advisor is distributed in a bell-shaped curve, the average client obtains considerable value from the average advisor – and even from a mediocre one.
The value for clients is higher with larger portfolios than small ones. The fees should be higher too.
As advisors, it is up to us to help prospects and clients appreciate our full value.
From the first time prospects and clients hear your name, these ideas will create an “ideal client experience” framework.
No one cares how hard we work. No one cares how many college degrees or years of experience we have.
We communicate better with our clients when we stay away from industry jargon. Explain things the way you would talk with a child.
The elements that make a good show define an advisor and build healthy relationships. With thoughtfulness, a good show will help your clients through the planning process.
Did you ever think about who hires an advisor … and why?
Reg BI continues the main differentiation between traditional Wall Street brokers and RIAs, which is good for my advisory business. But the SEC offered little help for consumers. It affirmed their commitment to Wall Street over Main Street.
Why do many consumers fail to understand the importance of obtaining fiduciary advice, despite its overwhelming value? The answer lies in the fact that traditional brokers are able to compete against fee-only advisors by articulating a simpler, easier to understand message.
