- How to Buy a Financial Advisor Book of Business
Buying a book of business as a financial advisor involves acquiring an existing client base, often from a retiring or transitioning advisor. This process can provide an opportunity to expand your practice, generate immediate revenue and build long-term relationships with established clients. Acquiring a book requires assessing both the advantages and potential risks, as well… read more…
- How to Find a Financial Advisor Internship
Financial advisors often credit their successful careers to the insights and experience gained during internships, underscoring the significance of such opportunities. A financial advisor internship is a valuable stepping stone into the finance industry, a chance to apply classroom knowledge in real-world situations. Here’s a breakdown of what these internships entail, the types of companies… read more…
- What to Know About the SEC’s ESG Investing Rules
The rules around ESG investing might soon change. On September 20, the SEC updated its rules that govern environmental, social and governance (“ESG”) investment funds. The new rule updates how these funds are named, requiring a fund that advertises itself as ESG to hold at least 80% of its investments in related assets. From a… read more…
- Ultimate Guide to SEC Compliance for Financial Advisors
The Securities and Exchange Commission (SEC) oversees the enforcement of financial securities laws. On its website, the SEC has organized some of its compliance guides for small businesses and brokerages. It lists nearly 80 individual topics, each of which takes you to a guide that, itself, is just a summary of much more in-depth issues. This… read more…
- Financial Advisor Industry Statistics to Know
Whether you’re considering a career as a financial advisor or looking to work with one, it’s helpful to understand the landscape of this profession. Financial advisors provide expertise to help individuals and organizations make smart money decisions. Estimates vary, but approximately 300,000 financial advisors work in a range of industries and in every state and… read more…
- One-Page Financial Plan Template for Your Clients
A financial plan template helps advisors organize their clients’ financial goals, assets and strategies on a single page, making complex planning more accessible. By summarizing key details such as income, net worth, asset allocation and other elements of a financial plan, a one-page format provides a structured yet flexible approach to managing finances. It can… read more…
- 10 Blogs and Bloggers for Financial Advisors to Read
Staying up to date on the latest industry trends and news is important as an advisor and it’s helpful to have a go-to list of sources for information. That might include reading financial advisor magazines, listening to podcasts, or keeping up with top bloggers in the advisory space. If you’re looking for some new financial… read more…
- How to Build an RIA Tech Stack
Having the right technology can be critical to a registered investment advisor’s success. However, knowing what to include in an RIA tech stack may take some thought and planning to ensure you have the right tools to meet your needs. This guide offers some helpful suggestions on what to include, along with tips for building… read more…
- Anti-Money Laundering (AML) Compliance Checklist for Advisors
Navigating the complex maze of financial regulations may seem daunting as a financial advisor, yet it remains a crucial responsibility of your profession. Take, for instance, Anti-Money Laundering (AML) Compliance – a set of rules that, when misunderstood or overlooked, can lead to detrimental consequences. These are good regulations that help protect client money and… read more…
- Creating a Financial Advisor Value Proposition to Help Your Firm Stand Out
A well-crafted value proposition can make a huge difference in helping understand where your financial advisory firm is headed. It sets your financial advisory firm apart from others and helps you identify your unique selling points. Moreover, it succinctly communicates the unique benefits clients can expect from your services, effectively becoming your firm’s secret weapon… read more…
- How Hiring a Marketing Agency Can Help a Financial Advisory Firm
Financial advisory firms deal with complex products and services that require clear and compelling marketing messages. A marketing agency can provide financial advisory firms with the expertise and resources they need to enhance their market presence and attract more clients. Agencies can improve your leads and overall revenue. Before working with a marketing agency, it’s… read more…
- Why Financial Advisors Must Avoid Reverse Churning
Reverse churning is the fraudulent practice of charging a flat fee for idle accounts. It represents a breach in fiduciary duty to the client, who would be better served with a per-transaction fee structure. It can cost your firm its money, its clients and potentially even its ability to conduct business. It’s not enough to say… read more…
- Ultimate Guide to SEC’s New Cybersecurity Rules
The SEC has decided that cybersecurity and related issues are now a material risk that public companies must disclose. As a result, in July of this year, the agency released a new rule on the issue. Registered companies must disclose material cybersecurity incidents as they happen. Registered companies must also make cybersecurity risk management part of… read more…
- Essential Tech Tools for Every Financial Advisor
Technology can make running your advisory business easier but it’s important to know which ones are worth the investment. The best financial advisor tech tools are ones that can help you save both time and money while making it easier to scale and sustain your business. Some key categories of tech tools can prove most… read more…
- How to Start a Hedge Fund in the U.S.
Starting a hedge fund requires more than just an impressive track record of consistently beating the market. There are registration and regulatory requirements that you’re expected to meet to ensure your fund is operating legally. You’ll also need sufficient capital and a strong support team to help pull it all together. If you’re interested in… read more…
- Roundup of Financial Advisor Magazines
Financial services is an ever-changing industry and as an advisor, it’s important to stay up to date on the latest news, trends and developments. After all, your clients rely on you to have the most current information in order to make informed decisions when managing their portfolios. Reading through financial advisor magazines, either online or… read more…
- Guide to Volatility Drag for Financial Advisors
Volatility drag quantifies the negative impact that volatility has on the compounded returns of an investment over time. Sophisticated investors and financial professionals may be familiar with this complex concept, but relatively few ordinary investors encounter it. Volatility drag have a significant effect on the performance of any portfolio, especially over extended periods of time.… read more…
- Starting Salaries for New Financial Advisors in the U.S.
Entering the field of financial advising can be lucrative, but earnings vary widely depending on factors like education, certification, firm, location and clientele. Experience is one of the most important drivers of financial advisor compensation, with veteran advisors typically able to bring home several times the earnings of newcomers to the field. Understanding the salary… read more…
- What Is SEC Form D for RIAs?
The Securities and Exchange Commission allows certain companies to sell stock to a select number of investors without having to go through the IPO process. This is done under a Regulation D exemption, which lets companies that meet specific requirements raise capital without having to submit to an extensive and costly registration process that is… read more…
- What Is the SEC Fee and How Much Do Advisors Pay?
Investing involves many complexities, and one frequently overlooked cost is the fee imposed by the Securities and Exchange Commission (SEC). This SEC fee is a transaction charge that financial advisors must pay when selling exchange-listed and over-the-counter securities to support the SEC’s operations. In May 2024, the fee more than tripled from $8 per million… read more…
- Artificial Intelligence (AI) in Wealth Management
Artificial intelligence (AI) is making a growing impact across many industries, including financial services. While most clients still value the personal connection of working with a human advisor, the role of AI in wealth management is becoming increasingly hard to ignore. In fact, almost six in 10 financial professionals are open to exploring AI tools.… read more…
- Top Interview Questions for Financial Advisor Candidates
Once you’ve decided to hire an advisor for your firm, it’s crucial to find a candidate who aligns best with the needs and aspirations of your clients. There are a number of key questions to ask financial advisor candidates to gain insight into whether they would be a good fit for your firm. Answers to… read more…
- Financial Planning Regulation
The term ‘financial planner’ can apply to a broad range of professionals, including accountants, insurance agents and investment advisors. If you work in any of those capacities or a related field, it’s important to understand the regulatory guidelines that apply. Financial planning regulation encompasses a broad range of requirements and rules. The type of regulation… read more…
- Free CFP Ethics CE Courses
Certified financial planners (CFP®) are subject to continuing education requirements in order to maintain their certification. Specifically, they’re required to complete 30 hours of continuing education each reporting period, which includes two hours of study in the area of ethics. CFP professionals can complete the requirements by taking paid or free courses online. If you’re… read more…
- SEC Marketing Rule Frequently Asked Questions (FAQs) for Advisors
If you’re an investment advisor, whether you’re a seasoned pro or just starting out, deciphering rules and regulations like the Securities and Exchange Commission (SEC) Marketing Rule is key to your success and compliance. This rule specifically highlights what advisors can and cannot do when marketing their services to potential clients. Failing to adhere to… read more…