- Financial Advisor Job Outlook for 2024 and Beyond
Over the next decade, the job outlook for financial advisors looks extremely promising, with abundant opportunities nationwide. The Bureau of Labor Statistics predicts employment of financial advisors will expand much faster than the average occupation. Growth is concentrated in cities with strong financial services sectors, but jobs can be found almost anywhere. An aging population… read more…
- How Long Does It Take to Get Your CFP?
Understanding the certified financial planner (CFP) certification, the steps involved and how long it takes, can help new financial advisors and those looking to progress their career start planning the process. While it typically takes 18 to 24 months to complete, there are many things that could impact the CFP timeline for you. Here’s what… read more…
- SEC Exam Priorities for 2023 and 2024
The SEC’s Division of Examinations (commonly known as EXAMS) is the oversight branch of the Securities and Exchange Commission. It’s the second largest section of the agency, after the enforcement arm. The Division of Examinations uses a variety of different inspections and examinations to make sure that companies and other market participants are following the… read more…
- Helpful Online Tools for Financial Advisors
In the dynamic world of financial advisory services, digital tools have become a game-changer. Over the past few years, the rise of fintech has transformed the landscape, providing financial advisors with an array of innovative tools to streamline operations, automate tasks and deliver more efficient services. These tools cater to a wide array of needs… read more…
- How Much Do Senior Financial Advisors Make?
Becoming a senior financial advisor can open up new avenues for career success. Taking on this type of role can also mean a significant increase in pay. But what’s a typical senior financial advisor salary? The average is around $120,000 annually. However, salaries operate on a range with some advisors earning more and others earning… read more…
- How to Create a Valuable Elevator Pitch as a Financial Advisor
Opportunities to connect with new clients can arise at any moment and when they do, it’s to your advantage to be prepared. Having a well-crafted elevator pitch ready to go can help you make a great first impression on a prospective client and grab their attention so they’re interested in learning more. Knowing how to… read more…
- Marketing Ideas and Tips for Financial Advisors
Marketing is integral to your business’s success in attracting new clients and promoting your brand’s visibility. Testing out different strategies is a good way to learn what works best for your business, and what can help to set you apart from the crowd. There are plenty of creative marketing ideas for financial advisors that you… read more…
- Direct Mail Marketing for Financial Advisors
A solid marketing strategy can help to explore your firm’s growth and for many advisors, that means a focus on email and social media. Direct mail marketing is often overlooked but it can offer opportunities to connect with prospects in a more personalized way. Knowing how to create an effective campaign for direct mail marketing… read more…
- How to Become an Independent Financial Advisor
Becoming an independent financial advisor is something you might consider if you’re ready to step out of the traditional model and reshape your career path. Independence has its benefits, though there are some considerations to weigh in determining whether it’s the right move for you. If you’re interested in how to become an independent financial… read more…
- Understanding Email Prospecting for Financial Advisors
In today’s fast-paced digital environment, financial advisors need to leverage every available tool to reach potential clients effectively. For instance, a financial advisor who understands the ins and outs of email prospecting has a higher chance of expanding their client base. This process involves identifying potential clients, reaching out to them via personalized emails and… read more…
- 10 Digital Marketing Ideas for Financial Advisors
In the digitally connected world, savvy financial advisors understand the need to leverage digital marketing strategies to reach potential clients and grow their businesses. With the right tools and an understanding of the digital landscape, financial advisors can increase online visibility, target specific demographics and engage with a wider audience, leading to brand growth and… read more…
- Custodian vs. Broker-Dealer: What’s the Difference for Your Firm?
In the world of finance and investment, custodians and broker-dealers play crucial roles in safeguarding and facilitating transactions. Understanding the roles and differences between these entities is important for financial advisors and their clients. While custodians and broker-dealers serve integral functions in the financial industry, they have distinct responsibilities and regulatory obligations. If you’re hoping… read more…
- What Does a Mutual Fund Advisor Do?
Investing in mutual funds can be a lucrative venture, helping you grow your wealth, save for retirement or achieve other financial goals. However, navigating this complex landscape can be challenging for many, especially those new to investing. Enter the mutual fund advisor – a financial professional providing expert guidance and assistance in the world of… read more…
- How to Build a Client Service Model as a Financial Advisor
The importance of creating an exceptional client service model can’t be underestimated. Attracting clients—and retaining their loyalty—begins and ends with delivering an experience that not only meets but exceeds their expectations. The most effective client service model for financial advisors is one that emphasizes value while encouraging engagement. Here’s a closer look at how to… read more…
- How to Build a Marketing Plan for Financial Planners
Building a financial planning business can entail plenty of challenges, not the least of which is deciding how to market your new firm. A solid marketing strategy can catapult your business to success while a weak marketing plan may leave you struggling to stand out among the competition. Effectively marketing financial planning services starts with… read more…
- Types of Money Scripts and How to Deal With Each in a Client
Money is a highly personal subject, and as an advisor, it’s your job to offer advice that speaks to your clients’ individual needs and goals. The money scripts clients adopt can influence the way that you approach that task. A client’s money script represents the internalized beliefs they have about money, which are often formed… read more…
- Errors and Omissions (E&O) Insurance for RIAs and Advisors
Financial advisors offer a lot of personalized advice which can open them up for potential lawsuits if anything goes wrong. These lawsuits not only harm their reputation but can financially devastate their businesses without proper safeguards. Professional liability insurance, often referred to as errors and omissions (E&O) insurance, covers claims of negligence or oversights by… read more…
- Transitioning a Financial Advisor Firm: What to Know
The process of transitioning a financial advisor firm involves moving client relationships and assets, which often define the viability and profitability of the firm. This is done by either buying a book of business or hiring a new financial advisor who is bringing a book of business with them. For advisors, understanding this transition can… read more…
- A Guide to Hiring an Associate Advisor for Your Firm
Are you looking to take your firm to the next level? The right talent can make all the difference, and one such talent is an associate advisor. This crucial player in client relationship management, portfolio analysis and support for financial plans can supercharge your firm’s strategic growth. This guide unpacks each step of the process,… read more…
- How to Buy a Financial Advisor Book of Business
Buying a book of business is an opportunity to accelerate your practice’s growth and potentially expand the range of services that you can offer. It’s something that you might consider if you’ve only recently launched your advisory firm, or you’ve hit a plateau in an existing business that you’re ready to surpass. Acquiring a book… read more…
- How to Find a Financial Advisor Internship
Financial advisors often credit their successful careers to the insights and experience gained during internships, underscoring the significance of such opportunities. A financial advisor internship is a valuable stepping stone into the finance industry, a chance to apply classroom knowledge in real-world situations. Here’s a breakdown of what these internships entail, the types of companies… read more…
- What to Know About the SEC’s ESG Investing Rules
The rules around ESG investing might soon change. On September 20, the SEC updated its rules that govern environmental, social and governance (“ESG”) investment funds. The new rule updates how these funds are named, requiring a fund that advertises itself as ESG to hold at least 80% of its investments in related assets. From a… read more…
- Ultimate Guide to SEC Compliance for Financial Advisors
The Securities and Exchange Commission (SEC) oversees the enforcement of financial securities laws. On its website, the SEC has organized some of its compliance guides for small businesses and brokerages. It lists nearly 80 individual topics, each of which takes you to a guide that, itself, is just a summary of much more in-depth issues. This… read more…
- Financial Advisor Industry Statistics to Know
Whether you’re considering a career as a financial advisor or looking to work with one, it’s helpful to understand the landscape of this profession. Financial advisors provide expertise to help individuals and organizations make smart money decisions. Estimates vary, but approximately 300,000 financial advisors work in a range of industries and in every state and… read more…
- One-Page Financial Plan Template for Your Clients
When clients come to you for financial advice, they may appreciate having it related in the simplest way possible. Presenting them with a one-page financial plan allows you to condense the most important information they need to know in an easily digestible format. If you’re unfamiliar with this approach or aren’t sure how to implement… read more…