- Risk Tolerance Questionnaire Template to Give to Your Clients
Risk tolerance questionnaires can help advisors better understand what their clients need when developing a financial plan. Clients may complete this questionnaire during the onboarding process and the answers they provide can inform your decision-making when offering financial advice. Putting together a template that organizes risk tolerance questions by topic can make it easier to… read more…
- Client Experience Survey Questions for Financial Advisors
Understanding and meeting client needs is essential to your success as an advisor, as satisfied clients are more likely to remain loyal and engaged over time. To effectively support your clients, gaining a deep understanding of their expectations, challenges, and goals is important. One of the most effective ways to achieve this is by asking… read more…
- How Financial Advisors Can Create an Ideal Client Avatar
An ideal client avatar (ICA) is more than just a marketing buzzword – it’s a strategic blueprint that guides financial advisors in customizing their services and marketing efforts to meet the specific needs of their most desirable clients. By crafting a detailed profile that encompasses the demographics, psychographics, financial goals and challenges of their ideal… read more…
- 6 SEO Strategies for Financial Planners That Work
Effective SEO strategies are instrumental for financial planners who wish to capture the attention of high-quality leads actively seeking their expertise. The process starts with keyword optimization which involves meticulous research and integration of terms and phrases that potential clients are likely to use when searching for financial advice. This ensures that a financial planner’s… read more…
- Sample Questions From the CFP® Exam
Taking the CFP® exam is just one of several requirements you’ll need to meet to become a Certified Financial Planner™. Taking a practice CFP® test can help you better prepare for the real thing. The best prep materials include CFP® sample questions from past tests, along with questions that cover more recent updates to the… read more…
- What Is the De Minimis Exemption for Financial Advisors?
The de minimis exemption refers to the threshold below which certain small-scale transactions or activities are exempt from regulation or taxation. It’s important for advisors to be aware of this rule, so they can ensure compliance with regulations, assess which transactions or activities they’ll have to report, and avoid penalties. Here’s what you need to… read more…
- Course and Certification Options for Financial Planners
Professional certifications can give you a competitive edge as you grow your advisory business. There are a variety of credentials you might obtain, each of which has specific education and exam requirements. Deciding which financial planner course to take can depend largely on your career path and specialty. SmartAsset’s Advisor Marketing Platform can help you… read more…
- Understanding IRC Section 212 and Advisor Expense Deductions
As an advisor, you might give clients tax advice but it’s also important to know how to handle your business’s tax filing. The Internal Revenue Code includes provisions that allow you to deduct certain expenses related to operating your business. Claiming deductions can help you reduce your taxable income for the year, though it’s important… read more…
- 7 Books That Can Help Prepare You to Take the CFP® Exam
To work as a certified financial planner, you’ll first need to complete the CFP® exam. Taking a CFP® exam prep can help you ready yourself, but you may also benefit from reading books about financial planning. If you’re looking for some CFP® books to add to your reading list, here are a few to consider.… read more…
- When Can You Take the Series 65 Exam?
The Series 65 exam or Uniform Investment Adviser Examination is required if you plan to register with state securities agencies as an investment advisor representation. Series 65 exam dates are offered by appointment; this is also how exams for other FINRA licenses work. If you’re planning to obtain a Series 65 license, you’ll need to… read more…
- What Is a Financial Solutions Advisor?
A financial solutions advisor helps clients, often affluent or high-net-worth investors, build their investment portfolios. These advisors work in a bank or wealth management setting as part of a larger financial services team, though some financial solutions advisors work independently. If you’re interested in this career path, knowing more about how this type of role… read more…
- What Are Breakaway Advisors?
A breakaway advisor is a financial professional who leaves a traditional wirehouse or broker-dealer for an independent advisory practice. Every year, advisors leave or “break away” from large brokerage firms whose businesses may be built around selling financial products and services for commissions. These advisors then join or establish their own registered investment advisor (RIA)… read more…
- What Is a Credit Risk Certification (CRC)?
The credit risk certification (CRC) is a professional credential that is offered by the Risk Management Association (RMA). Financial advisors obtain this certification to demonstrate their proficiency in assessing and managing credit risk. This certification may be of interest to you if you want to work more with businesses or business owners. SmartAsset’s Advisor Marketing… read more…
- Strategies to Improve Your Marketing for Estate Planning Services
In the estate planning industry, where the focus is often on legal requirements and financial management, marketing might not seem like an obvious priority. But estate planning marketing can help firms establish their presence and build brand awareness. Having a recognizable brand can instill confidence and build trust among potential clients. Through targeted marketing efforts… read more…
- What Is Regulation Best Interest (Reg BI)?
In 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI), redefining standards of professional conduct for broker-dealers and associated persons. The standard, which falls under the Securities Exchange Act of 1934, requires broker-dealers to follow the best interests of their clients when recommending securities or investment strategies that involve securities. Adhering to this… read more…
- How to Manage High-Net-Worth Clients to Keep Them
Working with high-net-worth clients can present some unique opportunities if you’re able to establish long-term relationships, garner more referrals and increase business revenue. Managing these types of clients requires specialized knowledge and understanding of the needs and concerns that wealthy investors often have. Knowing what to expect can help you to balance serving your high-net-worth… read more…
- 45 Questions Financial Advisors Ask
When you’re embarking on a new client relationship it’s important to set the right tone. That includes getting to know their needs and expectations better by asking the right questions and absorbing what they have to say. There are certain questions financial advisors ask that may be helpful to include as you sit down for… read more…
- How to Get an Entry Level Financial Planning Job
Financial planning can open the door to a wide range of jobs, including financial advisor, investment analyst, wealth manager, retirement planner and tax advisor, among others. If you’re just starting out, here a round up of entry level financial planning jobs. SmartAsset’s Advisor Marketing Platform can help you add new clients at your desired pace. Sign… read more…
- Guide to Strategic Portfolio Management for Your Advisory Firm
Building a successful—and sustainable—business often begins with developing systems that allow you to operate as efficiently as possible. Strategic portfolio management (SPM) encompasses various processes that financial advisors and other organizations can use to ensure that their actions align with their goals. Pursuing this type of approach can facilitate growth and allow you to better… read more…
- What Are Reportable Securities for Financial Advisors?
The Securities and Exchange Commission (SEC) imposes certain rules on registered investment advisors governing ethical behavior. Rule 204A-1 of the Advisers Act outlines minimum standards for establishing an advisor code of ethics, including the treatment of reportable securities. Ensuring these standards are met is critical for remaining compliant with federal regulations. SmartAsset’s Advisor Marketing Platform… read more…
- 7 Personal Finance Influencers to Follow If You’re an Advisor
Personal finance influencers are becoming increasingly popular on social media as people seek out straightforward, practical financial advice. While many influencers cater to a consumer-facing audience, some offer tips and strategies that are directed toward financial services professionals. Getting to know some of the most impactful personal finance influencers can be a terrific way to… read more…
- How to Analyze Market Sentiment Indicators to Grow Client Portfolios
A market sentiment indicator provides insights into the overall mood or attitude that investors have toward the financial markets, helping advisors gauge whether sentiment is bullish, bearish or neutral. These tools analyze data such as trading volumes, price movements and investor surveys to reflect the collective behavior of market participants. By aligning investment strategies with… read more…
- How to Find Compliance Solutions for Financial Advisors
Financial advisors may need to find compliance solutions to ensure adherence to regulatory requirements, mitigate legal risks and maintain trust with clients and regulatory authorities. To find a solution, you may start by looking for firms with a track record in providing comprehensive compliance solutions that are tailored to regulatory requirements, or seek recommendations from… read more…
- How to Find a Financial Planning Certificate Program
The distinction between financial advisors can sometimes hinge on the depth of their knowledge and the trust they inspire. Financial planning certifications are not merely a form of professional validation – they may be a testament to an advisor’s commitment, expertise and adherence to ethical standards. Professionals who pursue these certifications, especially the certified financial… read more…
- How Much You Could Make If You Earn a CRPC
Getting a chartered retirement planning counselor (CRPC) designation can increase a financial advisor’s earning potential without the need to invest a lot of time, energy and money. People with this financial professional certification report earning an average of 9% more after qualifying for the designation, according to the organization that provides training for CRPC applicants.… read more…