#FA Success Ep 317: From Individual To Partnership: Managing The Merger Transition From Solo Practices, With Jennifer Climo
Kitces Nerd's Eye View » Financial Marketing
by Michael Kitces
6d ago
Welcome back to the 317th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Jennifer Climo. Jennifer is the CEO and a Senior Advisor for Milestone Financial Planning, an independent RIA based in Bedford, New Hampshire, that oversees $360 million in assets under management for 225 client households. What's unique about Jennifer, though, is how, after more than a decade of building her own successful solo practice, she intentionally decided to merge her practice with another solo practitioner when an unusual crisis opportunity presented itself, and handle the more ..read more
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Repurposing Digital Marketing Content: How I Grew My RIA Revenue To $16K/Month In Less Than 14 Months
Kitces Nerd's Eye View » Financial Marketing
by Thomas Kopelman
6d ago
An important truism about marketing is that to be effective, the marketer’s message needs to connect with the audience it intends to reach. Traditional forms of marketing used by financial advisors – including networking with one’s friends and family members, cold-calling, and paid advertising – have been effective at reaching a ‘typical’ client base of older, wealthy retirees. However, for advisors looking to reach a different type of client – such as those in younger generations like Millennials, who often have an aversion to such straightforward sales tactics – finding a message that resona ..read more
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Weekend Reading For Financial Planners (Jan 21-22)
Kitces Nerd's Eye View » Financial Marketing
by Adam Van Deusen
1w ago
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that several states are considering a series of tax hikes targeting higher-income and ultra-high-net-worth residents after similar proposals failed to pass at the Federal level. While it remains to be seen whether the measures will actually be enacted, proposed measures include raising income and capital gains tax rates, instituting wealth taxes, and reducing the state estate tax exemption, potentially creating future planning opportunities for advisors with clients in those ..read more
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Is Private Debt Worth Considering As An (Alternative) Asset Class In Client Portfolios?
Kitces Nerd's Eye View » Financial Marketing
by Larry Swedroe
1w ago
Many investors are familiar with private equity as an alternative asset class, which is popular with certain high-net-worth and institutional investors as a vehicle for diversification and a source of potentially higher risk-adjusted returns than what is available on the public market. However, less well-known is the related but distinct asset class of private debt, which, like private equity, focuses on opportunities outside of what is traded on the public market but deploys its capital in the form of credit rather than taking equity stakes in companies. And in the midst of a rough market for ..read more
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#FA Success Ep 316: Building A COO Society To Help Advisory Firms Scale Up Their Efficiency, With Matt Sonnen
Kitces Nerd's Eye View » Financial Marketing
by Michael Kitces
2w ago
Welcome back to the 316th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Matt Sonnen. Matt is the founder & CEO of PFI Advisors, a consulting firm based out of Redondo Beach, California, that assists wirehouse advisors with the operational transition support they need to break away, and trains and consults with the COOs – the Chief Operating Officers – of independent RIAs to better build their own infrastructures, processes, and culture to scale up their advisory businesses. What's unique about Matt, though, is how he and his wife have translated the years ..read more
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Can Time Blocking Make Advisors Happier And More Efficient?
Kitces Nerd's Eye View » Financial Marketing
by Meghaan Lurtz
2w ago
One of the most important aspects of emotional wellbeing is having a feeling of control over one’s time. Indeed, financial advisors often describe one of the benefits of financial planning as helping people take control of their time by giving them the financial freedom to do what they enjoy. And likewise, for advisors themselves, one of the ways to stay happy and thriving is to have the ability to spend time doing what one finds is most valuable or fulfilling. The 2021 Kitces Research Report on What Actually Contributes To Advisor Wellbeing reinforced the idea that the happiest advisors feel ..read more
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Kitces & Carl Ep 103: Balancing Client Responsiveness With The Proactive Sledgehammer Of Value
Kitces Nerd's Eye View » Financial Marketing
by Michael Kitces
2w ago
As comprehensive financial planning has become more widely adopted, many financial advisors have felt pressure to find new ways to differentiate themselves by demonstrating their unique value to clients. And while providing fee-only advice or highlighting service as a fiduciary may have once been a fair differentiator, these services are now often considered table stakes, necessitating financial advisors to find more creative solutions that show current and prospective clients that they provide more value than other advisors. However, as more advisors continue to increase the services they off ..read more
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Providing Mortgage Advice In A Higher Interest-Rate Environment: Opportunities For Advisors To Add Value
Kitces Nerd's Eye View » Financial Marketing
by Adam Van Deusen
2w ago
Leading up to 2022, financial advisors and their clients had grown accustomed to a relatively low mortgage rate environment. In fact, until earlier this year, the average 30-year fixed mortgage rate had stayed below 5% since 2010 (and below 7% since 2001). But as the Federal Reserve has sought to raise interest rates this year to combat inflation, mortgage rates have reached higher levels not seen in more than 20 years, with 30-year fixed mortgages reaching an average of 6.9% in October 2022, twice the 3.45% average rate in January. While the plight of today’s first-time homebuyers facing high ..read more
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#FA Success Ep 315: Learning Business Development By Consistently Being Seen Where Your Ideal Clients Are, With Lisa Brown
Kitces Nerd's Eye View » Financial Marketing
by Michael Kitces
3w ago
Welcome back to the 315th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Lisa Brown. Lisa is a Partner and Wealth Advisor for CI Brightworth, an RIA under the CI Financial umbrella with offices in Atlanta, Georgia, and Charlotte, North Carolina, that oversees nearly $5 billion in assets under management* for over 1,500 client households. What's unique about Lisa, though, is how, by digging deeper into an existing firm niche focus of Coca-Cola employees and talking extensively with employees there about their common needs and issues that affected their financia ..read more
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What Makes Financial Advisors Happier: More Time Or More Money?
Kitces Nerd's Eye View » Financial Marketing
by Adam Van Deusen
3w ago
While it may be easy to assume that having more money would make a person happier by opening consumption opportunities unavailable to those with less income, experienced advisors can likely identify many examples of high-income individuals who are unhappy with their lives. To provide a more holistic view, researchers have sought to assess whether increased income leads to greater happiness on two dimensions: emotional wellbeing (how an individual feels today) and evaluative wellbeing (how an individual feels about their life overall). An oft-cited 2010 study by Daniel Kahneman and Angus Deaton ..read more
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