Why are some people either for or against whole life insurance? It’s not a religion. It’s not something you believe in or don’t. It’s an insurance product and its important clients understand all their options despite the advisor’s personal opinion.
By mastering the ins and outs of social security and fully understanding your clients’ future cashflow needs, you can increase – and potentially even double – the amount they will receive in benefits.
You’ve likely heard the old-school sales phrase, “always be closing.” In today’s world, that’s the wrong mindset. In fact, that mindset can be detrimental to your business growth. Why? Because it leaves out the more important previous step.
As we get started in 2022, now is the time to ensure that your financial planning practice is ship shape and ready for the year ahead. This week we’re sharing five action items to get you off to a quick start in both your financial planning practice and for your clients.
Friday’s jobs report came out, and we have all seen the data. Job growth is down, but the unemployment rate is also down. Hiring is weak, but more people have jobs. This makes perfect sense, not. What’s going on here?
The safety net has gaping holes through insufficient benefits, underfunding, benefits that need to be rethought and lack of periodic updating to reflect the reality of living in today’s world. That is why households must put their own personal financial safety net in place.
Many advisors got their footing in financial services when marketing via traditional media – like print, TV and radio – was the only way to advertise. Now, the wave of digital marketing is transforming the profession to become more current and welcoming to younger generations.
In many ways, 2021 was a typical year for markets, but it also reinforced some basic market lessons that are hard to learn, even if they are not new.
With what seems like an onslaught of endless crises, clients have begun asking about what they can do to help bring about more positive change. Beyond donating to charities or allocating time to volunteer, are there other actions they can take to make a difference?
Setting New Year’s resolutions allows us to exercise the virtue of aspiring to a goal and following through on it, having a sense of control over the events in our life.
December is widely known as one of the best months of the year for stocks, but most don’t realize that the majority of the gains happen in the second half of the month.
When you set bigger goals, you’re automatically filled with greater energy and excitement. This greater energy and excitement will help you make the effort required of those bigger goals.
We believe pent-up demand, gradual improvement in supply chain challenges, solid labor force growth, and productivity gains will all contribute to another year of above-trend economic growth in 2022.
The new Omicron medical threat, along with rising inflation and continued supply chain problems, challenged the economic recovery, leaving investors wondering if markets could keep reaching new highs.
With all things new and unfamiliar, it’s hard to know what to say or do in support of those who need our understanding, support and encouragement.
In this article, I’ll teach you about the cornerstone strategy that will uphold every other human relations skill that you possess: empathy. Don’t believe me? A quick Google search will prove that troves of business outlets are talking about this topic.
Inflation and what it means for investing is one of the biggest issues I have been hearing about recently. The topic can generate quite a bit of anxiety.
While the overall goal of qualifying for MDRT may be an intimidating one, breaking it down into manageable pieces is a sure way to methodically march towards your prize. Use the following guidelines to take this tactical approach to membership qualification.
It’s rare to have a pension plan these days and those without pensions may not have access to a retirement plan through their work either. Not only does this present an issue for middle and upper-income individuals, but it’s also a real problem for lower income individuals especially those in underserved communities.
It’s been difficult to find a macroeconomic story that supports reducing exposure to U.S. equities in favor of their developed international counterparts. But frankly, if one is going to develop, it may need to happen soon.
Longevity risk also continues to be a top concern for retirement plan participants, according to the survey. When it comes to taking withdrawals, 76 percent of survey respondents would be more likely to leave their money in their 401(k) plan if given an in-plan withdrawal solution.
They say nothing is certain in life but death and taxes. It feels like one other certainty is that taxes are going to increase. Business owners should feel like there is an “X” on their back. Let’s highlight some of the problems to bring us one step closer to a solution.
If our positive near-term market outlook proves to be overly optimistic, we believe one—or perhaps more than one—of these five things will likely be the culprit: inflation, an aggressive Federal Reserve, profit margin pressures, pulling forward of seasonal gains, and potentially overly bullish sentiment.
While asking for a referral can be nerve-wracking, it can also lead to exciting opportunities you otherwise may not have discovered and allows you to build community by opening the door for you to make referrals in return.
One-third of U.S. adults (33%) report that the pandemic triggered conversations with close family members about their end-of-life plans and preferences, according to a new study from Edward Jones in partnership with Age Wave and Harris Poll.
A big future vision is a powerful thing to create for yourself. Whether you want to build a massive business or simply make what you have today better, you need a big vision.
While risks are rising, the economy will likely continue to grow unless medical conditions get much worse. Markets are cautious, but fundamentals still remain favorable. Volatility is very possible, but there may well be more upside ahead.
While the Certified Financial Planner certification has long been considered the “gold standard” of financial planning credentials, it has recently become more of a foundational knowledge base for those serious about helping clients achieve their financial goals.
When you increase your communication with clients, offer innovative ideas for connecting, and bring more transparency to the advising process, your clients will value your dedication and want to establish successful, long-term relationships.
A fee-based model can help you focus on creating and maintaining client relationships, all while bolstering trust and adding value to your financial advice with a new level of objectivity.
Hispanics are the most likely demographic group (26%) to say they feel “motivated” when thinking about financial planning in the current environment, according to a survey by Lincoln Financial Group.
Communication is the most important skill most people don’t develop. Most people believe they’re communicating effectively, while the reality is they’re not.
My career as a financial planner was shaped in my annual tax meetings with my CPA. One year I mentioned to her I really liked taxes, but specifically how a person could be strategic in their finances with tax planning.
Not planning for inflation can be a financial sucker punch in the years when financial breathing room is needed most. By helping their clients build income streams that account for inflation, advisors will help them keep pace with the economic inevitable.
LinkedIn has evolved tremendously over the past decade. In the past few years, LinkedIn has become more like Facebook – very social and engaging. It is an incredibly powerful platform if you use it correctly. LinkedIn can transform the way you do business development if you’re willing to make the effort.
The U.S. Bureau of Labor Statistics released its August employment report this morning, revealing that the domestic economy added a disappointing 235,000 jobs during the month, falling well short of Bloomberg-surveyed economists’ median forecast for a gain of 733,000. This comes on the heels of a strong July during which payrolls climbed by an upwardly revised 1.053 million jobs. The unemployment rate fell to 5.2% in August, in line with expectations, and was paired with an unchanged labor force participation rate, which stayed at 61.7%.
Crafting your client base can be a daunting task, but simplifying it to a system that’s easy to digest will streamline your search process. The “ABC” system that I use is interlinked, as each component depends on, and thrives off one another.
Over the past year or so, consumer confidence has risen sharply, coming off the trough at the start of the pandemic, and was approaching pre-pandemic highs. Two leading surveys were saying the same thing. Then something started to change.
Whether you’re on the fence about using social media to accelerate your success or you’ve started to dip your toe into the water to see if it’s warm enough to dive in, you’d likely agree social media is a powerful platform that can be leveraged for your business success.
Corrections are a normal part of investing and the S&P 500 Index has yet to pull back even 5% so far this year, something that happens on average three times per year. However, we remain steadfastly bullish and this week want to explore five things that some bears believe that do not worry us.
It’s not an overstatement to say ours is a profession built on relationships. Understanding and truly connecting with our clients unlocks endless opportunity – for us to deliver better recommendations, make our clients happier and grow our businesses.
Financial planning for the LGBTQ+ community embodies a wide range of topics like marriage decisions, financial protection, family planning and legacy planning.
2Q S&P 500 earnings growth did not surprise by quite as much as in the first quarter, but came pretty close—boosted by the biggest quarterly upside revenue surprise in at least 13 years. Here, we recap the strong numbers and raise our forecasts for earnings and for S&P 500 fair value at year-end.
The Nasdaq Composite gained 1.19 percent in July, while the Dow Jones Industrial Average rose by 1.34 percent. The S&P 500 led the way with a 2.38 percent gain during the month. As we continue to hit new highs, what are the risks going forward?
The inflation story is more about isolated components, rather than general increases in prices, and even those components are showing signs of peaking. And this is even before we consider the one- and two-year differential in prices.
The SEC today announced that Poloniex LLC has agreed to pay more than $10 million to settle charges for operating an unregistered online digital asset exchange in connection with its operation of a trading platform that facilitated buying and selling of digital asset securities.
With a focus on planning for both the present and future, you can achieve a more efficient practice that provides a higher-quality level of service to clients. Here are three solutions to operating a more efficient practice.
By identifying your ideal client, thinking outside the box, and playing to your strengths, you’ll be working smarter, not harder, to build your business. The result: a client pool tailored to your preferences and strengths, allowing you to boost your portfolio long-term.
There have been no retroactive situations in the last 25 years where the Tax Act increased taxes and the effective date was prior to the date of enactment. Still, that does not mean it will continue with any tax increases this time.
Last week provided investors with a fresh batch of data carrying the potential to heavily affect the inflation debate. Tuesday brought us the Consumer Price Index (CPI) for June, while Wednesday saw the release of the Producer Price Index (PPI) for June.
Being an advisor in 2021 has introduced us to countless new digital tools that allow us to optimize our client service. Although our focus on technology has grown, it’s important to remember that our most valuable tool for success remains the ability to connect.
Now is the perfect time to check in with your clients and remind them what financial planning really is and begin to tie their investment reviews into their financial plan.
Despite lofty expectations, results exceeded expectations by one of the biggest margins ever in the first quarter. So what will companies do for an encore?
There’s a long way to go, but it has been a great year for stock bulls, a historically bad year for bonds, and a great year for the economy. We recently found these four charts that we think all investors need to see as we head into July.
Many stocks have stagnated over recent months. While we remain overweight on stocks relative to bonds, this week we explore three things that worry us—and could make the market more susceptible to a pullback as we enter the second half of 2021.
The human brain has six functions, three of which are defense mechanisms that prevent people from accepting potential risks and moving to protect their future finances. All six are worth keeping in mind when approaching the topic of risk management with clients.
Secure Retirement Institute research estimates that IRA rollovers represented approximately $565 billion in 2019, and jumped to $623 billion in 2020 as pandemic-related disruption led to an increase in the number of people leaving their employers.
Advisors and their clients frequently want to know how to generate guaranteed income from a retirement portfolio. This objective has been on the rise, particularly after the market crash of 2008.
Asking good questions is an essential skill to building trust with the people you serve and advise. Here are seven questions to help you establish a personal connection with clients.
While primarily thought of as equity-oriented, sustainable investing is becoming more mainstream in fixed income markets—and companies that fail to acknowledge changing dynamics may potentially face financially material impacts.