As vice president of financial planning, Tom is an integral contributor to the strategic vision around our financial planning initiatives. Additionally, he is critically involved in all partner interactions, thought leadership contributions, and internal training programs.
The hottest topic on this year’s financial advisor conference agenda has been the DOL’s fiduciary rule. One of the cornerstones of the DOL rule involves an examination of a client’s entire financial picture when delivering advice.
Robo-advice has dominated headlines in the financial industry, with some predicting that the online advice market could reach $500 billion by 2020. These headlines are catching the eye of both FINRA and the SEC as well.
The Department of Labor (DOL) announced that it is planning to undertake a “long-term research study to develop a panel that will track U.S. households over several years in order to collect data and answer important research questions on how retirement planning strategies and decisions evolve over time.” In its request for comments published in the Federal Register, the DOL noted, “Relatively little is known about how people make planning and financial decisions before and during retirement.”
Value propositions are more important than ever for financial advisors. Show your clients and prospects what you can do beyond their perceived “norm” for financial advisors. Play the challenger: ask a client if they’ve received professional guidance in an area they probably haven’t considered asking you about.
Playing in the NFL is highly lucrative, but careers can be altered—or ended—in an instant by injuries, trades, or other sudden developments. Similarly, high-net-worth individuals and families can also experience surprises which have a serious impact on their financial well-being.
Firms of all sizes across the globe often struggle with inefficient processes, which can cause many other problems like decreased customer retention, lower prospect-to-client conversion rates, employee frustration, and more.
In this recent webinar with Wealth Professional, learn how firm strategies, advisor workflows, and client expectations have evolved over the past 10 years and how the next wave of the financial planning practice will ultimately return greater autonomy to advisors and clients alike.