Browsing articles in "Practice Management"

Celebrate Good Times (Come On!): Why You Should Make Time to Recognize Success

May 26, 2016

Imagine my surprise (and dismay!) when I realized that I missed Practically Speaking’s 5-year blogiversary. When you’re in the business of looking forward (like we all are), there’s bound to be times we miss what’s right in front of us. This week, I’m reminding you to applaud your accomplishments, as well as those of your clients.


Content Marketing – Content is King; Distribution is Queen

May 23, 2016

We all know that technology is an enabler in the financial services industry – but we tend to think of it in terms of investments and workflows and the like. But there’s a new tech kid in town – content marketing technology – and it’s helping advisors build and deepen relationships. I sat down with AdvisorStream CEO Kevin Mulhern to find out more.


Advisors: Why Compete Where Everyone is Competing?

Another day, another survey (2, in fact) that shows advisors are worried about growth. And you should be – especially if you’re pursuing the same clients with the same message as every other advisor. Why should they pick you?


How Should You View Your Advisory Practice? Like a Boss

May 12, 2016

We all know what happens when there’s a new boss – he or she scrutinizes everything, asks lots of questions and does not take “we’ve always done it that way” for an answer. Maybe it’s time to take a “new boss” approach to your practice – leaving no account, process, person or value proposition unturned.


Spousal Support: How Not to Alienate Spouses in the Financial Planning Process

May 10, 2016

To quote Rob Base and DJ E-Z Rock, “It takes two to make a thing go right.” If you’re working solely with one spouse, you may be alienating the other. In today’s guest blog post, Jill Knittel explains how you can encourage both spouses to participate in the financial planning process, as well as potentially carve out a niche for those spouses who find themselves suddenly single.


DOL Fiduciary Rule: 3 Burning Questions Advisors Want Answered

The more advisors read the DOL fiduciary rule, the more questions they have. This week, we compare “BIC for a day” to contracted BICs, clarify level fees, and discuss how class action lawsuits might be used to police the rule.


Advisor Tech Planning in a Post-DOL-Rule World

May 3, 2016

Weaving the DOL rule into existing software and procedures is no small task. Proactive financial services companies are already hard at work, trying to determine the best course of action. Here’s what they’re doing.


DOL and Small Accounts: Can You be Your Own Robo-advisor?

Apr 28, 2016

Love it or hate it, the DOL fiduciary rule is here. But this rule could actually have a positive impact on your advisory business, if you look at it in the right way. This week, I’m talking about streamlining your small accounts, creating consistency in your revenue stream, and setting up a “feeder system” for larger accounts down the road. (See? That all sounds pretty good.)


Family Matters: How to Include Your Clients’ Kids in the Financial Process

Apr 19, 2016

My last post, The Letter Advisors Will Never Get from Their Clients’ Kids, sure seemed to strike a nerve with some of you. So now that I have your attention, I’ve got some actionable ideas to help you make financial planning more family friendly and inclusive.


Advisors: See the DOL Rule Through Your Clients’ Eyes

Apr 12, 2016

You’re faced with a choice – “own” the rule and embrace being a fiduciary, or waste valuable time trying to figure out how to do the bare minimum to comply. The latter may open you up to some uncomfortable conversations with existing clients and hinder your ability to gain new ones.




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