Practice Management

Practice Management (170)

Capture Clients with Low-Cost Marketing Programs

Providing low-cost tax return preparation to generate financial planning prospects is just one of a variety of successful strategies. So reports Financial Planning. Read more...

Female Advisors Represent Big Opportunities for Planning Firms

In the next five years, private wealth is estimated to grow from approximately $14 trillion to $22 trillion. During that period, furthermore, women are expected to control two-thirds of private wealth. Yet female advisors are drastically underrepresented in the financial planning industry. Read more...

Periods of Silence Can Enhance Client Relations

Many advisors may cringe when conversations suffer from akward silence, but such moments can lead to more productive conversations. So reports the Journal of Financial Planning. Read more...

How to Retain Assets When Marriage Ends

While blissful couples pledge to stay married until death, the reality is that approximately 50% of marriages in
the U.S. end in divorce. If you throw into the mix the occasional premature death of a spouse, then it becomes clear that a substantial portion of advisors’ married clients are likely to become single.

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Refining the Discovery Process Yields Big Benefits

The discovery process, or the act of interviewing prospects and clients to assess their goals, concerns, fears and assets, is a challenging, yet crucial component of the financial planning process.

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How to Increase Referrals

Advisors should set themselves apart from the competition by explaining their financial planning process to potential sources of referrals, including accountants, attorneys, and other financial professionals. So reports WealthManagement.com.

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The Hidden Value in Scrutinizing Clients' Tax Returns

For most Americans, April marks the beginning of warmer weather as the chilly winter months fade into the past. The month also brings a sigh of relief for millions of Americans who complete the often painful process of filing their income tax returns by the April 15 deadline.

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Addressing the Emotional Side of Client Decisions

Sometimes, even the best spreadsheets miss the mark. That’s because investors, while typically seeking the best possible investment return, may have values or beliefs that can supersede financial recommendations that only consider hard numbers.

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Help Cut Clients’ Taxes with Backdoor IRAs

Many investors mistakenly believe that their income levels limit their options to qualified employer retirement plans when it comes to tax-advantaged investing. Yet, a novel strategy called a backdoor individual retirement account can help highly compensated clients save an estimated $250,000 in taxes over their lifetimes.

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How to Leverage Interns

Firms that use interns should use the recruits to help senior planners prepare for client meetings and should take steps to ensure that the new hires engage in tangible job duties, including meetings with clients. So reports CNBC.

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