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Advisor Resources

Aug 31, 2022 Losing clients can be a frustrating experience and when it happens to you, you may be left wondering what you could have done differently. There are a number of reasons why clients leave financial advisors and there may be more than one cause at work. Understanding some of the most common reasons why clients choose to move on can give you insight into how to better serve the investors you work with. You can also work with SmartAsset's SmartAdvisor platform to replace your clients or to hit your next stage of growth. Read More...

Aug 31, 2022 A custodian is integral to your advisory firm’s operations as you’ll need a secure place to hold client assets. Working with a quality provider can also help to improve efficiency, which can be instrumental in driving your firm’s success. It’s important to know what factors to consider when selecting a financial advisor custodian. Are you a financial advisor looking to get new clients? Consider signing up for SmartAsset's free financial advisor matching service. Read More...

Aug 12, 2022 The current  bear market and widespread economic anxiety may have financial advisors feeling squeamish as they watch assets under management (AUM) shrink and clients worry. But upticks in market volatility may have a silver lining: It increases demand for financial advice. According to research from Cerulli Associates, a desire for more financial advice tends to rise among investors following periods of increased volatility. For financial advisors, this trend can present an opportunity to demonstrate value to potential clients and strengthen ties with existing clients. Here’s what advisors should know. If you have questions specific to market volatility, a  financial advisor can help . Read More...

Aug 11, 2022 Clients are becoming more aware of the certified financial planner (CFP) credential, according to the CFP Board’s latest metrics. The Board has endeavored to showcase the CFP mark's value via a public awareness campaign – and has raised fees, in part, to support that mission. Client familiarity with the CFP certification may make it a more valuable credential to advisors. Here’s what to know. Read More...

Aug 09, 2022 Surprise! Surprise? For financial advisors, scoring placement in a “top advisor” list pays off. According to research from the University of Kentucky, being named a top advisor increases assets under management (AUM) and client accounts for individual advisors and their firms. These effects are magnified for smaller firms and newer advisors, the paper says. Here’s what financial advisors should know about the benefits of being "the best." Read More...

Jul 21, 2022 Workplace 401(k) providers are working as matchmakers, hooking up investors with wealth managers and fostering advising relationships that can last into retirement. Financial advisors who can onboard clients before retirement and navigate the transition between the asset-accumulating and asset-decumulating phases may stand to benefit from this trend. Here’s what advisors should know about this client base. Read More...

Jul 15, 2022 Retirees are confused about enrolling in Medicare, according to a 2022 survey from Sage Growth Partners and Healthpilot. Notably, 33% of respondents have a financial advisor, but only 2% use that advisor to help plan their selection. Understanding Medicare can help financial advisors best direct clients in choosing plans, reducing health care expenses and protecting retirement savings. Let's take a look at how advisors can help Medicare-eligible clients. If you're looking for a qualified financial advisor, SmartAsset's free tool can match you with up to three financial advisors who serve your area. Read More...

Jul 14, 2022 For the second consecutive year, investment advisor compliance professionals ranked marketing and advertising as their No. 1 compliance worry. Driving this ongoing angst is a new Securities and Exchange Commission (SEC) marketing rule, which updates advisor marketing practices, and must be followed by Nov. 4, 2022. Here’s what advisors should know about trending compliance concerns and the SEC marketing rule. Read More...

Jul 08, 2022 Retirees don’t accurately understand their risks in retirement, according to a recent analysis from the Center for Retirement Research at Boston College. The brief, authored by Wenliang Hou, finds a disconnect between how retirees rank perceived risks and their objective exposure to those dangers. Advisors should take note: Understanding retirees’ blind spots in relation to actual retirement risks helps financial advisors serve clients more effectively. Read More...

Jun 22, 2022 Model portfolios, which provide financial advisors with a prebuilt framework for investment portfolio design, are surging in popularity. Assets following model portfolios grew to $349 billion as of March 2022, according to financial services firm Morningstar. That’s an estimated 22% increase between June 30, 2021, and March 31, 2022. Here’s what financial advisors should know about the model portfolio landscape and the pros and cons of these financial vehicles.  A financial advisor could help you create a financial plan for your retirement needs and goals. Read More...

Jun 16, 2022 The Securities and Exchange Commission (SEC) is requesting public input on whether "information providers" – specifically, index providers, model portfolio providers and pricing services – may act as "investment advisers" under the Investment Advisers Act of 1940. Some industry watchers contend that these financial businesses aren't adequately regulated considering the influence they have on others' investment decisions. Placing these providers under this designation could open the door to new regulatory scrutiny. It could also impact how financial advisors and consumers engage with these businesses. Financial professionals should take note. A financial advisor could help you create a financial plan for your retirement needs and goals. Read More...

Nov 15, 2021 Customer relationship management (CRM) software can be vital to running and scaling your advisory business. The right CRM can make it easier to organize and store data for existing clients while helping to generate new leads. It can also help you to run your business more efficiently and save time by automating certain tasks. Using this type of software could improve conversions and boost revenues. But what is the best CRM for financial advisors? If you’re looking for a new customer relationship management software program, we’ve rounded up some of the best options for financial services. Read More...

Nov 15, 2021 Having a website for your advisory business matters for remaining visible in a competitive landscape. The best financial advisor websites are the ones that are designed to convert and turn casual visitors into loyal clients. “Having a website as a financial advisor is extremely important,” says Nicole Webster, creative consulting with M&O Marketing in Southfield, Michigan. “It’s a great way to establish an online presence and, most importantly, build credibility.” But what goes into a good advisor website, that is, a successful social media presence? These tips can help you build a site that attracts prospects’ attention - and keeps it. Read More...

Nov 11, 2021 Staying attuned to client needs and delivering solutions to help them reach their goals is one of the hallmarks of a good financial advisor. These are skills you may have acquired during your initial financial advisor training and now want to fine tune so you can better serve your client base. Or you may be in the early stages of your career and looking for some guidance on how to be the advisor your clients need. These tips can help you find success on your journey to becoming a better financial advisor. Read More...

Nov 10, 2021 Finding success as a financial advisor matters for growing your business to a sustainable level. But that may mean encountering various obstacles and challenges along the way. This is not unusual in itself but how you approach the bumps in the road can affect the results you’re able to achieve. Wondering how to be a successful financial advisor? Here are some of the most important characteristics shared by advisors with thriving businesses and full client lists. Read More...

Jul 28, 2021 Connecting with prospective clients in the digital age means having a strong online presence. That includes being visible on social media, maintaining a professional website and creating engaging content. If you have yet to formulate a wealth management content marketing strategy, you could be missing out on valuable opportunities to grow your audience and expand your client base. Read More...

Jul 27, 2021 Clients are the centerpiece of any successful advisory business; without them, it wouldn’t exist. But they aren’t all alike in terms of their goals, needs and financial situations. This is where understanding client segmentation for financial advisors becomes crucial. Knowing how to segment your book can help you improve your efficiency and profitability. At the same time, it can allow you to better serve your clients’ needs and help them further their financial goals. Read More...

Jul 26, 2021 Finding success as a financial advisor means establishing a careful balance between two core activities: meeting the needs of your current clients and generating leads to new ones. Lead generation is a vital part of scaling an advisory business. And you may be spending a fair amount of time and money trying different tactics to connect with prospects. If so, it’s important to ensure that you’re getting the best return on investment possible. Having some go-to financial lead generation strategies in your playbook can ensure that your efforts aren’t wasted. Read More...

Jun 17, 2021 Marketing is one of the most important aspects of running a successful advisory business. Without a clear strategy for promoting your advisory services, you may find yourself treading water instead of pushing ahead with your growth goals. It's important to take the time to develop a workable financial advisor marketing plan before diving into any marketing activities. Ready to tackle your marketing plan and start scaling your business? Here's how to get started. Read More...

Jun 17, 2021 A website can be an invaluable part of your financial advisor marketing plan and it’s important that it makes a good first impression. This is where having a strong financial advisor bio can work in your favor. When a prospective client clicks through to your website's biography page, they should be able to glean two key pieces of information straight away: who you are and how you can help them. A bio that’s well-written and addresses both of those things succinctly can help to turn a cold visitor to your website into a warm lead. Read More...

Jun 01, 2021 Scaling your advisory business demands a solid marketing and lead-generation strategy. While financial advisor marketing is increasingly focused on digital channels, there’s still a case to be made for just picking up the phone. “Cold calling is one of the oldest, time-tested marketing methods in existence,” says David Wright, executive director of practice development at M&O Marketing in Southfield, Michigan. Wright, who coaches independent financial advisors on how to grow their businesses, says that cold calling can be particularly effective for new advisors who are seeking to generate leads in a cost-effective way. Having some cold calling scripts for financial advisors to follow can make it easier to execute this marketing tactic. Read More...

May 19, 2021 For financial advisors, prospecting is essential to attracting new clients and scaling a practice. Finding and developing leads that may turn into prospects can be time-consuming, however. And if you don’t have the right strategy in place, even finding prospects in the first place can be hit-or-miss. That’s where getting advice from successful financial advisors can help. With that in mind, we’ve rounded up some of the best prospecting tips from financial advisors to help you accelerate your business growth. Read More...

May 11, 2021 A solid client base is central to your success as a financial advisor. But without a defined plan for marketing yourself, making connections can be an uphill - and ultimately unsuccessful - slog. “A marketing strategy can single-handedly make or break an advisor’s practice,” says Dan Biagini, chief distribution officer at Foundations Investment Advisors. Whether you’re a new advisor who’s just getting started with marketing or you’re ready to revamp your existing marketing plan, here are five tips that can help with increasing your reach and cultivating stronger client relationships. Read More...