You’ve heard me say before that robos are good for advisors. The advice pie has become bigger and the players either have new or bigger slices. It’s been sunbeams and rainbows all around – until now.
When you think about hosting an event for your clients, a pretty standard list of ideas probably comes to mind. But what if you planned an event that would not only benefit your clients, but your community? That would be a gift that keeps on giving.
If your focus is on pre- (and post-) retirees, you are probably only serving a single generation. By bridging the gap between generations with value-added services, you can develop long-lasting relationships with your clients’ entire families.
There’s technology available to help your clients through whichever budgeting phase they happen to be in. Some may put you front and center; others may have you playing a consultative role (and showing off some cool tech). But advisors should understand all the different models, even if you don’t have an active role in the implementation.
The times (and your clients) they are a-changing. So come gather around, advisors, wherever you roam. It’s time to rethink your business model so you can survive and thrive. (And apologies to Bob Dylan.)
Investors are famous for putting too much weight on events they believe will impact the market one way or another. The fact is, events don’t impact the market; the market is impacted by the reaction of investors to an event. If your clients are feeling anxious about the President-elect and his impact on their portfolios, here’s what you can tell them.
What happens next with the DOL Rule is anyone’s guess. Which is why you shouldn’t (guess, that is) – you need to prepare.
Budgeting – it’s a cringe-inducing word, no matter how old you are. But advisors can play an important role in your clients’ decision-making process, if you incorporate it into your financial planning process. The key is applying the most appropriate budgeting process to fit your client’s financial life stage.
Our “Workflow Your Way to the DOL Deadline” webinar was a hit (and so were the 4 free workflows). Some of you have asked me additional questions since then, and I wanted to answer them here.