- How to Grow Wallet Share By Targeting Held Away Assets
If you’re looking to grow your business as a financial advisor, often the best place to start is within your own shop. While recruiting new clients is important, developing your relationship with existing clients is also crucial for your advisory business. By increasing the amount of each client’s assets that you manage, you can both… read more…
- Understanding the Life-Cycle Approach for Your Clients
Life cycle financial planning is a multi-stage approach to helping your clients build and manage wealth. As clients age and experience life changes, their financial goals and needs may evolve, which in turn can affect the type of advice you offer. Understanding the financial planning life cycle can help you prepare for each new phase… read more…
- 7 Investment Books Every Advisor Should Read
Knowledge is a powerful asset and one that requires ongoing cultivation as an advisor. Devoting time to reading books about investing is one way to expand your expertise so that you can better serve your clients while becoming a savvier investor yourself. With so many books to choose from (and so little time in your… read more…
- Key Technology Every Wealth Manager Should Consider
Incorporating technology into your advisory practice can help save money and increase efficiency, leaving you with more time to focus on your clients. Navigating the wealth management technology landscape may seem a little intimidating, but embracing the right tools could transform your business. Here are some of the most important types of wealth management tech… read more…
- How to Leverage Google Ads as a Financial Advisor
Digital marketing has become increasingly important for advisors as more investors turn to search engines to connect with financial professionals. Investing in Google Ads can effectively increase your business’s visibility and attract new clients if you know how to use them. Understanding what a Google Ad campaign might be able to do for you can… read more…
- 9 Entry-Level Jobs to Help You Break Into Wealth Management
A successful career in wealth management demands patience, perseverance and continuous learning. And, for those willing to put in the effort, the wealth management industry can offer rich rewards. Here are nine popular entry-level jobs that can help you get into and develop your experience in wealth management. Ready to grow your advisory business? SmartAdvisor… read more…
- 5 Financial Psychology Certifications for Financial Advisors
Financial psychology certifications can demonstrate expertise in the ways that psychology and personal finance intersect in a client’s attitudes, beliefs and behaviors that influence their financial decisions. These certifications can differentiate you in a competitive marketplace and potentially lead to increased income and credibility. Ready to grow your advisory business? SmartAdvisor can connect you with… read more…
- How a Chief Compliance Officer (CCO) Can Help Your RIA Firm
A chief compliance officer (CCO) is a member of your firm’s team who can help protect your business from potential legal or regulatory issues. Registered investment advisors must have a CCO serving at the firm, but hiring an experienced one could make a huge difference and avoid potential penalties, fees or lawsuits that could cost… read more…
- What Is Tax Drag and How You Avoid It for Your Clients
Tax drag refers to the negative impact that taxes can have on the overall return of an investment or a portfolio. It’s calculated as the difference between the return on an investment before taxes and the return after taxes. Tax drag is a crucial concept for financial advisors to understand and manage, as it can… read more…
- What It’s Like to Work as a Financial Planner
Entering a career in financial services can offer plenty of opportunities for advancement and high earning potential. Some professionals work as financial advisors while others choose to work as financial planners. While the titles sound the same, there are some differences in what a financial planner job entails. Add new clients and AUM at your… read more…
- How Financial Advisors Can Ask Clients for Referrals
Requesting referrals can be a powerful and cost-effective way to generate new leads for your advisory business. If your clients are satisfied with your services, they can become a valuable source of ongoing referrals. The key to successfully leveraging client referrals lies in how you make the request. SmartAsset’s Advisor Marketing Platform offers financial advisors… read more…
- Great Books for Professional Stock Traders
Stock trading is something of an art and just like painting or sculpture, it’s open to interpretation. That’s reflected in the sheer variety of investment theories and strategies advisors utilize to navigate the markets. If you’re interested in expanding your knowledge to serve your clients better, there are quite a few books for traders you… read more…
- Average Salary for Financial Paraplanners
Paraplanners are professionals who work with financial advisors and financial planners in a support capacity. A career in paraplanning can be a stepping-stone to becoming a financial advisor or planner, as it can be an opportunity to gain valuable work experience within the financial services industry. If you’re considering this type of role, you may… read more…
- Life Insurance Marketing Strategies for Advisors
Life insurance is something many individuals need but fail to consider when developing a financial plan. They may be unsure of what they need, or simply feel overwhelmed by the number of available options. If you’re interested in selling these products to your existing clients or attracting new clients to your business who are looking… read more…
- How to Get Annuity Leads as a Financial Advisor
To successfully expand a practice and increase annuity sales, financial advisors need a steady pipeline of qualified leads. Experienced advisors use a combination of strategies, such as strategic networking, targeted social media advertising, upselling to existing clients, fostering referrals and purchasing leads from reputable sources. A diversified, multi-channel strategy is often the most effective. However,… read more…
- How to Find a Financial Advisor Practice for Sale
Whether you’re ready to set out on your own or you’re looking to grow your business, buying a financial advisor practice can be a great way to help you reach your goals. However, it may be difficult to find a book of business that you’re happy with and that you can afford. There are a… read more…
- What Are High Earners Not Rich Yet (HENRY) Individuals?
Attracting new clients to your business is essential for growth and if you’re forward-thinking, you might be interested in getting the attention of the high-earner-not-rich-yet (HENRY) crowd. These are individuals who have the income to propel them to wealth but lack the assets. There are some definite advantages to working with HENRYs, but the key… read more…
- How Much Financial Advisors Should Spend on Marketing
Marketing is an essential business expense if you hope to grow your advisory firm. Without a marketing plan, you may put yourself at a disadvantage when it comes to attracting new clients. But how much should you spend to promote your business? Your financial advisor marketing budget can depend on different factors, including the size… read more…
- How to Find Your First Client as a Financial Advisor
Learning how to find clients as a financial advisor involves more than cold calling and crunching numbers. It means earning a client’s trust to manage their hard-earned savings and guide them on the path to their goals. Your first client can often be the most challenging to find because it takes time to build your… read more…
- 5 Wealth Management Marketing Ideas to Get More Clients
Expanding into wealth management can help scale your business, especially when targeting higher-net-worth investors. It’s also a challenge, however, as there may be a smaller pool of potential clients to go around. If you want to stand out amongst the competition, you’ll need a solid wealth management marketing plan. Add new clients and AUM at… read more…
- 6 Proven Marketing Strategies for Financial Advisors
Developing an effective marketing plan as a financial advisor often requires some trial and error to find what works for your business. Having a list of proven tactics to choose from can give you somewhere to get started, as well as save you time, money and headaches so you can focus on other activities to… read more…
- Portfolio Visualizer Tool Options for Financial Advisors
When a client is ready to make a change to their investment strategy, they may be interested in seeing how those choices might play out over the long term. Portfolio visualizer tools make it possible to generate models or simulations so they can evaluate the potential outcomes. The best tools are easy to incorporate as… read more…
- How to Manage Client Assets Held Away
Creating a comprehensive financial planning strategy may be more challenging when a client has assets held away. If you don’t know the full extent of their financial situation, that can tie your hands to a degree when it comes to offering the best advice for their needs and goals. There are, however, some things you… read more…
- Tax Prep Checklist for Tax Preparers
Managing tax season efficiently starts with a well-structured tax document checklist that helps tax preparers stay organized and avoid last-minute scrambles. Gathering key documents and other information early, from clients’ income statements to their deductible expenses, allows for a smoother filing process and reduces the risk of errors or delays. Whether working with individuals or… read more…
- The Ultimate Guide to Financial Advisor Marketing
Financial advisor marketing is more than just promoting services – it’s about creating a structured strategy that drives measurable growth. According to a Broadridge survey, advisors with a defined marketing strategy generate 168% more leads per month and see 50% more revenue compared to those without one. A mix of digital marketing, referrals and client engagement… read more…