Wednesday, September 20, 2023
HomeFinancial AdvisorWeekend Reading For Financial Planners (September 16-17)

Weekend Reading For Financial Planners (September 16-17)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent survey indicates financial advisors are the most trusted source of financial advice for consumers across generations, and are particularly trusted among wealthier individuals. Further, the survey results suggest that advisors who offer comprehensive services tailored to the needs of their target clients are likely to be more successful both retaining their current clients and in attracting clients who might be dissatisfied with their current advisor and their service offering.

Also in industry news this week:

  • The SEC agreed to a series of settlements with 9 RIAs resulting from charges of improper use of hypothetical returns in advertising under the regulator’s marketing rule
  • How several CEOs of large RIAs and AdvisorTech companies have found that receiving funding from private equity firms and taking the responsibility for the high growth expectations that come with those dollars can potentially cost them their jobs, or at least turn their leadership positions into jobs they no longer want

From there, we have several articles on retirement planning:

  • How advisors can use “retirement mentorship” programs to help clients nearing retirement feel more confident making the transition
  • While many clients look forward to the freedom retirement provides, those leaving the workplace can potentially lose certain things as well, from their sense of identity to structure in their daily lives
  • The range of paths available to those who have achieved financial independence that can provide purpose and fulfillment

We also have a number of articles on practice management:

  • Why setting clear expectations and demonstrating a culture of professionalism are crucial for firms looking to make a successful hire
  • What job candidates are looking for in the current tight advisor labor market and how firms can woo their top prospects effectively
  • How firm owners can avoid potential pitfalls when hiring and training next-generation advisors

We wrap up with 3 final articles, all about the psychology of decision-making:

  • While it might be tempting to lament previous decisions that were (or weren’t made), the likelihood that these choices would have turned out exactly as one might imagine is low
  • How advisors can help their clients make the most of the inevitable “plot twists” that arise in life
  • Strategies advisors can use to overcome the common reluctance to ask for help

Enjoy the ‘light’ reading!

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