Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that while banks have been able to attract a younger and more diverse set of financial advisors compared to the rest of the industry, thanks in part to their built-in referral stream, a relative lack of independence and dated technology could lead some of their advisors to explore options with independent RIAs.
Also in industry news this week:
- How consumer concerns about the stability of the banking industry could present independent advisors with an opportunity to add value by managing client cash
- Why an advisor’s fiduciary duty can sometimes come into conflict with the best insurance options for their clients
From there, we have several articles on marketing:
- While many firms have grown in the past several years thanks to market performance and M&A, a recent study shows that the average RIA had negative organic growth during the past 5 years
- How firm owners can develop a “business development culture” throughout their firms
- The differences between client referrals and word-of-mouth marketing and how advisors can use each to attract prospective clients
We also have a number of articles on retirement:
- How retirees (and their advisors) can use “mastermind” groups to learn from and build a community with their peers
- A survey of what people tend to care about less as they age, from trying to impress others to prioritizing their career over other interests
- How the choice of where to live in retirement can impact a retiree’s longevity
We wrap up with 3 final articles, all about creativity:
- How the most effective companies encourage innovative ideas among their employees
- Why better sleep might be the ultimate ‘hack’ for achieving better productivity and creativity
- Why persistence can be the key to turning a good idea into a great one
Enjoy the ‘light’ reading!
