- How to Implement Goals-Based Financial Planning
As a financial advisor, there are any number of strategies for helping your client to build wealth. One of the most useful is called goals-based financial planning. This is the practice of organizing your client’s plans around specific financial goals and milestones. It’s particularly useful because this is how many households think about their own finances.… read more…
- How to Create a Financial Advisor Newsletter
Nurturing a sense of trust with clients can help increase retention rates and help you potentially gain new clients through referrals. Communication is central to that effort, and if you’re not leveraging the benefits of email marketing, you may be missing out on valuable opportunities to build deeper connections. Sending a weekly or monthly newsletter… read more…
- Betterment for Advisors Review
Choosing a custodian is a major step when starting a registered investment advisor firm. It’s your custodian’s job to manage and maintain client assets on behalf of your firm. Betterment for Advisors is one option you might consider. This technology-driven platform is designed to help advisors deliver superior service to clients as efficiently as possible.… read more…
- Options to Outsource Your RIA Operations
Managing operations is one of the most time-consuming aspects of running an independent advisory firm. Developing workflows and automating systems can help you streamline important tasks, but as you continue to grow, you might decide that the time has come to seek outside help. Third-party providers can assist with RIA operations outsourcing, allowing you to… read more…
- A Guide to Operations for an RIA
Growing a successful practice can test your ability to manage all the demands competing for your time and attention. You’re meeting with clients, marketing your firm and managing a seemingly endless list of back-office tasks. Developing strategies and systems for managing RIA operations can help you scale more efficiently while maximizing your resources. Ready to… read more…
- What Is the CFP® Board’s 7-Step Financial Planning Process?
The CFP® Board oversees the Certified Financial Planner™ designation and gives planners a guideline to a seven-step process for providing financial advisory services. The process takes the financial advisor and client through the entire relationship, beginning with the initial meetings and progressing through years or decades of monitoring and adjusting the plan as the client’s… read more…
- What Cost of Equity Is and How to Calculate It
In corporate finance, cost of equity represents the return a company must generate to satisfy its shareholders. Financial advisors also rely on the cost of equity when evaluating investment opportunities and making recommendations to clients. It helps them assess a company’s financial health, growth prospects and potential returns, which is essential for constructing diversified portfolios… read more…
- 7 Financial Advisor Business Growth Strategies
Planning your firm’s growth is central to ensuring its long-term survival in a competitive landscape. Researching and studying financial advisor business development can help you discern which methods are most likely to produce results. There are different paths you can follow to scale your business, and your goals may determine which ones make the most… read more…
- How Financial Advisors Can Use Sales Navigator
Social media offers a wide variety of opportunities for financial advisors to connect with prospective clients. While LinkedIn might seem like a less obvious choice than Facebook or Instagram for advisor marketing, the platform’s Sales Navigator feature offers some unique possibilities. This premium service can be used to facilitate lead generation so you can grow… read more…
- Comprehensive Guide to Financial Advisor Sales Funnels
Generating leads and attracting new clients often prove challenging for financial advisors. After all, there’s plenty of competition, and investors may feel overwhelmed by the sheer number of choices they have. Developing a financial advisor sales funnel that targets your ideal client base can help you capture their attention and grow your business more effectively.… read more…
- Working for Wirehouse Firms vs. Independent RIAs
Pursuing a career in financial services affords opportunities to explore different paths. Some advisors choose to join wirehouse firms, while others prefer an independent RIA model. Comparing the advantages and disadvantages can be helpful if you’re planning out your next professional move. Ready to grow your client base? SmartAsset AMP helps you connect with qualified… read more…
- 5 Sales Strategies for Financial Advisors
Financial advisors rely on different sales strategies to drive growth. These strategies focus on client acquisition and retention, thereby helping advisors identify and engage with potential clients, communicate value propositions effectively and differentiate themselves in a competitive market landscape. Here’s are five things to keep in mind when developing your own sales strategy. SmartAsset’s Advisor… read more…
- Important Resources Every RIA Should Consider
Managing an independent RIA firm can be challenging on many levels. If you’re making the transition to your own practice or are looking for ways to streamline operations and increase efficiency for an existing firm, having the right tools can help. Tapping into RIA resources can make managing your advisory firm easier while enabling you… read more…
- CFP® Accelerated Path: Everything Advisors Should Know
Certified Financial Planner™ must meet education, experience, ethics and exam requirements to obtain certification. Financial professionals with a degree and at least three years of experience may choose the CFP® accelerated path to expedite the process. Following the accelerated plan allows you to bypass much of the coursework required to earn a CFP® mark, though… read more…
- De Minimis Exemptions By State
State-registered registered investment advisors can be exempt from having to register in every state where they have clients if they don’t maintain a place of business in the state and serve no more than five clients in the state. This is known as the de minimis exemption. However, not all states follow this standard, and… read more…
- $1 Billion AUM Added Through SmartAsset: How This Team Uses a 20-Point Plan to Convert Leads
When Joe Anderson founded Pure Financial Advisors, his goal wasn’t just to offer great financial advice to clients. He also wanted to build an in-house sales and marketing team capable of converting leads into new clients at scale. Today, Pure Financial Advisors uses a 20-point checklist for establishing and nurturing relationships with new leads. From… read more…
- Pure Financial Advisors, LLC Reports an Added $1 Billion in New Assets Under Management With SmartAsset Leads
Partnering with SmartAsset, Pure Financial Advisors reports recently crossing a major milestone in raising over $1 billion in new assets under management through the platform. The success Pure has had with lead generation through SmartAsset has helped the business expand organically beyond its California headquarters and into other states. “Our team is proud to celebrate… read more…
- Back Office Services for Financial Advisor Firms
Managing advisor back office operations can be a time-consuming test of your ability to juggle multiple tasks when running your own firm. In simple terms, the back end is anything you do for your business that isn’t client-facing. Implementing systems and utilizing third-party solutions can make it easier to direct your focus back to your… read more…
- Financial Advisor Sales Pitch Examples
The ability to quickly and effectively communicate your value as a financial advisor can make all the difference. A sales pitch is a strategic way to encapsulate your expertise and services in a brief, compelling narrative. Moreover, in situations where time is limited, such as networking events or chance encounters, a concise pitch could allow… read more…
- How to Improve Your Financial Advisor Sales Process
Being a financial advisor today requires more than understanding your client’s financial picture. It now demands a mastery of client relationships and sales processes to attract clients and keep growing. As the financial landscape evolves, so too must the strategies employed by advisors to remain competitive and meet the ever-changing needs of their clients. Empathy and… read more…
- How to Start an RIA Without Any Assets Under Management (AUM)
Becoming an independent Registered Investment Advisor is an opportunity to strike out on your own and take control of your career. Ideally, you could do so with an established client base, but if you’re unable to transfer your book of business from your previous firm, you might be starting from scratch. Starting an RIA with… read more…
- Corporate Transparency Act Reporting Requirements for Financial Advisors
The Corporate Transparency Act requires companies to report beneficial ownership information to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). FinCEN opened an online portal to begin accepting reports in January 2024. Financial advisors who fail to meet Corporate Transparency Act reporting requirements may face penalties. Ready to grow your client base? SmartAsset’s Advisor… read more…
- Understanding SEO for Your RIA Firm
Organic search can be a powerful tool for driving traffic to your independent advisor website. Search engine optimization or SEO is designed to increase your site’s visibility so that it’s easier for prospective clients to find you. Understanding RIA SEO is a critical component when leveraging digital marketing to promote your business. Ready to grow… read more…
- Tips for Smooth Onboarding of Wealth Management Clients
Attracting wealth management clients to your firm can increase revenues and allow you to build a sustainable business. And developing a seamless wealth management client onboarding process is a big part of that, as it can help build the foundation for a lasting relationship. By understanding what your wealthier clients expect during each phase of… read more…
- Understanding How Broker Protocol Impacts Financial Advisors
Moving to another firm or leaving your company behind to start an advisory business can be the beginning of a new phase in your career. If your current employer is a broker-dealer operating under Broker Protocol standards, there are certain compliance requirements you’ll need to meet as you move through this transition. The Broker Protocol… read more…