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HomeFinancial AdvisorWeekend Reading For Financial Planners (February 17-18)

Weekend Reading For Financial Planners (February 17-18)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a study from Cerulli Associates indicates a lack of fee transparency represents a significant hurdle for many investors when considering working with a financial advisor. Which suggests that while advisors might be hesitant to publish their fees on their website before being able to meet face-to-face with prospects, doing so (and linking the fees to the value proposition they offer their ideal clients) could help certain consumers overcome their reluctance and start the process to becoming clients! 

Also in industry news this week:

  • While AUM fees remain ubiquitous among fee-only advisors, recent data show that an increasing number leverage multiple fee models to meet different client needs and preferences
  • While CFP Board has come out firmly in favor of the Department of Labor’s proposed Retirement Security Rule, FPA has taken a more cautious approach, expressing concern about the potential compliance costs of the proposal for advisory firms

From there, we have several articles on advisor marketing:

  • A 5-step process advisors can use to build relationships with Centers Of Influence (COIs) and generate more prospect leads
  • Why the effective use of lead-generation services typically requires advisors to have plenty of free time to follow up with the leads they receive
  • Best practices for how advisors can use webinars to generate client leads, from leveraging effective email campaigns to creating near-term follow-up opportunities

We also have a number of articles on spending:

  • Why the relationship between spending and happiness is not linear, and what this phenomenon means for client spending and life satisfaction
  • How the differences between being “frugal” and “independent” can call for different advisor recommendations when it seems that clients are spending less than their income and assets allow
  • Why “Coast FIRE” might be an attractive strategy for clients who want more flexibility during their working years but don’t want to stop work completely

We wrap up with 3 final articles, all about reading and writing:

  • How a daily writing practice can bring a range of personal and business benefits, from greater clarity of thought to building a professional brand
  • How experimental data suggests that taking notes by hand, rather than typing them out, could lead to more effective learning
  • The challenge of reading (and finishing) books amid a growing number of distractions and potential solutions to enable greater focus 

Enjoy the ‘light’ reading!

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