- Form ADV Part 2: Why It’s Important and What It Includes
Form ADV is a comprehensive document that includes essential information about your advisory firm. There are three parts, each of which serves a different function and purpose. Form ADV Part 2 covers disclosure requirements for preparing your firm brochure. This brochure, which must be given to each client, includes information about your firm’s business practices,… read more…
- Guide to Form ADV Part 1: Tips for Advisors
Form ADV is a requirement for new registered investment advisors and existing RIA firms. You’ll need to submit your initial filing and follow up with an updated filing each year. Form ADV Part 1 is where you’ll disclose vital details about your firm, including its legal name, the services you offer, and the ownership structure.… read more…
- What Is RegTech and How Can It Help Your Firm?
One of the most significant ongoing challenges advisory firms face centers on compliance. As the regulatory landscape continues to evolve, advisors must be adept at monitoring and anticipating compliance trends. RegTech or regulatory technology aims to meet the needs of growing firms by offering innovative, digital-driven compliance and risk management solutions. Ready to grow your… read more…
- Benefits of Equity Model Partnerships for RIAs
Part of growing a successful advisory business means making the strategic decisions necessary to advance your goals. One avenue you could consider is shared ownership in the business through an equity partnership model. Moving to an equity partner structure can offer some distinct advantages for scaling an RIA, which we’ll review below. SmartAsset’s Advisor Marketing… read more…
- Lee Fortenberry’s Formula for Success: Good Communication and SmartAsset
Like many financial advisors, when Lee Fortenberry meets with prospective clients, he focuses on getting to know the person and understanding their unique needs. But Fortenberry eventually steers those initial conversations toward an important, yet sometimes overlooked component of the advisor-client relationship: communication. “We’re gonna do that so we can have that open flow of… read more…
- How to Value a Wealth Management Firm
Buying or selling a wealth management firm requires careful planning. One of the most important considerations centers on valuation, which is typically based on one or more multiples. Here’s a closer look at the most often-used wealth management firm valuation multiples. Ready to grow your client base? SmartAsset AMP can help you connect with leads.… read more…
- 3 Tips to Improve Client Communications at Your Firm
Excellent communication is central to the success of any relationship. How you communicate with your clients can be an important factor in determining whether they remain your clients, or look elsewhere for financial advice. Financial advisor client communication is more than just how often you interact — it’s also about the quality of those interactions.… read more…
- How to Grow and Become a Better Financial Advisor
You want your business to succeed, but what does it take to go from a good financial advisor to a great financial advisor? It’s a question many advisors ask, and the answer isn’t always a straight path. Business development is part of the puzzle, but personal development is just as important. Learning how to grow… read more…
- 7 UX Books Financial Advisors Can Use to Improve Their Website
When a client visits your website, you want them to stick around. And their initial user experience can influence whether they linger or leave. User experience, or UX, is one of the most important design elements you’ll want to incorporate when building out your website. A well-designed site that’s easy to navigate can increase conversions… read more…
- How to Create Buyer Personas as a Financial Advisor
Buyer personas are an important part of a financial advisor marketing plan. A buyer persona is a fictional representation of your firm’s ideal client. Personas can help you tailor your marketing to develop effective campaigns designed to convert those types of clients. Let’s look at how to create buyer personas based on the types of… read more…
- Are Asset Allocation Model Portfolios Right for Your Clients?
Asset allocation model portfolios offer clients a diversified investment mix in a streamlined package. Advisors can use model portfolios to blend different asset classes and investment styles, and tailor them to specific financial goals. Which clients can benefit from a model portfolio? We’ll review when to consider and how to utilize model portfolios as a… read more…
- 7 Prospecting Ideas Every Financial Advisor Should Try
Attracting new clients to your business is essential for its continued growth. That means you’re likely to spend a decent amount of time scouting out prospects. However, the key is knowing where to focus your energy, which can help you to get the best return on investment. To that end, let’s review which prospecting techniques… read more…
- How to Improve Your Online Presence as an Advisor
Digital marketing is something most advisors can’t afford to neglect. As clients increasingly turn to search engines for financial advice, a wealth of opportunities exist to grab their attention and grow your business. Improving your digital capabilities is also essential to improving the client experience, which can lead to greater retention. If your online presence… read more…
- How to Attract Wealth Clients to Your Firm
Targeting high-net-worth clients is one of the most effective ways to scale your firm. Attracting more wealthy clients can increase your assets under management (AUM) and revenues to fuel growth. But what does it take to stand out in a competitive advisory landscape? Let’s take a closer look at how to attract wealthy clients to… read more…
- How to Write a Financial Advisor Bio: Examples and Templates
When prospective clients visit your website, they want to learn more about you and what you do as an advisor. Your biography page should offer a comprehensive overview of your experience, skills and what makes you unique. If your website could use some updating, or you need to draft a bio for a different purpose,… read more…
- Examples of Financial Advisor Website Templates
Your website may be the first point of introduction for prospective clients who are ready to connect with an advisor. And delivering a top-tier user experience can keep visitors on your page and encourage them to take the next step and schedule a call with you. If you’re ready to build a financial advisor website… read more…
- 5 Powerful Prospecting Tools for Financial Advisors
Drumming up new business is a priority for most advisors, but it can drain your time and interfere with your ability to serve your existing clients. If you’re ready to streamline client acquisition, there are several prospecting tools for financial advisors that can help. These digital tools can help you develop systems to save time… read more…
- Is a Tax Management Overlay Right for Your Client?
Tax management is often integral to the advisory process as clients seek to reduce their liabilities while maximizing their after-tax returns. Employing a tax overlay strategy can help you achieve those goals for your clients. Overlay strategies are designed to produce tax-efficient portfolios that reflect an investor’s preferred asset allocation, risk tolerance and objectives. Are… read more…
- Data Reveals Abrupt Shift in Consumer Sentiment Toward Personal Finance After Trump Win
Data points to an abrupt shift in the sentiment and priorities of Americans when it comes to their personal finances since the outcome of the 2024 presidential election became clear. Demand for professional financial advice has increased, signaling a wave of financial repositioning. Both the quantity and quality of consumers seeking to adjust their financial… read more…
- What Are the Pros and Cons of Changing Firms as an Advisor?
If you’re looking for growth opportunities or would like to experience a different type of company culture, maybe you’re considering moving to a new firm. According to J.D. Power, a typical advisor has three or more employers throughout their career. But why do financial advisors change firms? The reasons vary depending on each advisor’s individual… read more…
- What to Know About Valuations of a Financial Advisor Firm
If you’re interested in buying an established advisory practice, or selling one that you currently own, you first need to have a good idea of what it’s worth. After all, value is central to the discussions when a business is set to change hands. Here’s what you need to know about financial advisor firm valuation… read more…
- Using Email Drip Marketing Campaigns as a Financial Advisor
Email drip campaigns enable you to nurture relationships with current and prospective clients, build trust and foster engagement. If you’re not devoting time to email marketing, you may be allowing opportunities for growth to pass you by. Read on to learn how to build financial advisor drip marketing campaigns that convert. Ready to grow your… read more…
- Actionable Ways to Grow Your Financial Advisor Business
Growing a thriving advisory business takes patience and planning. A slow and steady approach can help you win the race, if you have a plan to follow. We’ll show you how to grow a financial advisor business using measures that are both actionable and impactful. SmartAsset’s Advisor Marketing Platform (AMP) offers financial advisors services like… read more…
- How to Build an Ideal Client Profile as a Financial Advisor
Financial advisors need clients to maintain a thriving business, and attracting the right clients to your firm matters. One of the keys to growth is understanding who your ideal clients are and what they need from you to reach their goals. Let’s examine the value of creating an ideal client profile for financial advisors and… read more…
- Average Assets Under Management (AUM) for Financial Advisors
Increasing assets under management (AUM) is a priority for many advisors who want to scale their businesses. If that describes you, you might be curious about the average AUM for a financial advisor, and how your firm compares. Here’s a closer look at how the numbers break down and what they mean for your business.… read more…