- 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…
- What Are the IAR Continuing Education Requirements?
Investment adviser representatives (IARs) who provide financial advice to clients now have to complete annual continuing education in a growing number of states. As of early 2024, 19 states plus Washington, D.C., and the U.S. Virgin Islands have put in place or plan to implement rules requiring IARs to perform 12 hours per year of… read more…
- CLU vs. ChFC for Financial Advisors
Financial professionals have a range of certifications to show their skill and specialties. Among these, the chartered life underwriter (CLU) is a certification program for life insurance specialists. It covers law, products, planning and business within the life insurance industry. The chartered financial consultant (ChFC), on the other hand, is a certification program for financial planners. It… read more…
- Where to Find Financial Planner Courses Online
A Certified Financial Planner™ must meet continuing education (CE) requirements to maintain their certification. If you’re interested in completing financial planner courses online there are plenty of options to choose from. When comparing financial planning classes, it’s helpful to consider the format, the time commitment required, and what you’ll pay. SmartAsset’s Advisor Marketing Platform can… read more…
- How Advisors Can Run an Effective Discovery Meeting
Scheduling a discovery meeting with a prospective or new client is an opportunity to get to know them a little and establish the ground rules for your interactions going forward. Setting an agenda for the meeting can ensure that you’re covering the most important topics. You should also be prepared to ask the client some… read more…
- Guide to Code of Ethics for Financial Advisors
Financial advisors are expected to uphold certain ethical standards when managing client finances and offering advice. Establishing and adhering to a code of ethics can allow you to build a more sustainable business if you’re able to foster trust and client loyalty. SmartAsset’s Advisor Marketing Platform can help you add new clients at your desired… read more…
- How to Find a Remote Job as a CFP Financial Advisor
Becoming a certified financial planner (CFP) can open new career opportunities, including the possibility of remote work. While some firms that hire financial advisors prefer them to work in-house, others are comfortable allowing them to work virtually on a part-time or full-time basis. If you’re interested in CFP remote jobs, it helps to know where… read more…
- Choosing Financial Advisor vs. Financial Analyst for Your Career
When considering a career path in the financial sector, two common options often come to mind: becoming a financial advisor or a financial analyst. Both roles offer unique opportunities and challenges, appealing to individuals with different skill sets and career aspirations. While financial advisors primarily focus on providing personalized financial guidance to individuals and families,… read more…