Friday, March 29, 2024
HomeFinancial AdvisorWeekend Reading For Financial Planners (March 30-31)

Weekend Reading For Financial Planners (March 30-31)

Enjoy the current installment of “Weekend Reading For Financial Planners” this week’s edition kicks off with the news that a recent survey suggests Americans are increasingly prioritizing work-life balance over higher salaries, with 2/3 of respondents indicating that they would rather work at a job that they loved rather than a job they disliked but paid more money. Nonetheless, Kitces Research suggests that when it comes to financial advisors, those with sufficient experience can often have both, with thriving advisors earning more and working fewer hours!

Also in industry news this week:

  • With the new “T+1” rules for trade settlements will go into effect in late May, the SEC has issued a risk alert for broker-dealers and RIAs outlining the requirements they face and areas of focus for the regulator during upcoming examinations
  • A recent survey suggests that while client satisfaction with their financial advisors increased during 2023, more than a third of wealthy Millennials indicated they are planning to change advisors in the coming year

From there, we have several articles on prospect and client communication:

  • How advisors can adapt their communication styles to match the personality types of prospects and clients
  • Why focusing on diagnosing a prospect’s financial problems, rather than working to build a personal relationship, could be a more effective strategy to win clients
  • How to craft an effective advisor website biography to show an advisor’s humanity and help prospects overcome their fear of reaching out for help

We also have a number of articles on wealth management:

  • How building a team of advisors – including financial, legal, and mental health professionals – can help the recipient of a financial windfall manage both the technical and psychological aspects of their newfound wealth
  • How financial advisors can support clients in processing the emotional and financial ramifications of receiving an inheritance
  • How advisors can help newly wealthy clients avoid common pitfalls, including insufficient insurance coverage and the temptation to pay household workers ‘under the table’

We wrap up with 3 final articles, all about innovation:

  • How chance hallway conversations led to one of the biggest breakthroughs in artificial intelligence technology
  • How the interstate highway system not only allowed for faster travel around the country, but also facilitated the growth of the economy as a whole and the rise of national chains
  • Why malls are turning to high-end stores, gyms, and experiences to reinvent themselves at a time when many traditional shopping centers are struggling

Enjoy the ‘light’ reading!

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