Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with a 2-part series from Bob Veres, exploring all the various technology solutions that have emerged in recent months specifically to help advisors comply with various aspects of the DoL fiduciary rule, from workflows for transitioning clients to level fee fiduciary engagements to benchmarking tools to evaluate the “reasonableness” of the advisor’s fee and to conduct due diligence on the client’s existing 401(k) plan (and the performance and costs of all its investment options).
From there, we have several financial advisor marketing articles, including: how to “repurpose” content to leverage your time doing blogging and social media as a financial advisor; how to rethink client appreciation events as “client connection events” to drive more engagement and referrals; when it’s time to consider revisiting your advisory firm’s brand; and why at least some types of private client lawyers can be especially good as center-of-influence referrers of high-net-worth clientele.
There are also a couple of practice management articles this week, from alternative strategies to finding advisory firms to acquire (beyond just waiting for advisors to retire), why regulators are actually pushing back on the industry’s transition from AUM to retainer fees, and the various ways that “generic” business advice really does not fit the typical advisory firm.
We wrap up with three interesting articles about personal success and productivity: the first is a look at how you can divide your activities of the day/week/month/year into those that give you energy, and those that take away, recognizing that one of the biggest ways to boost your productivity is to adjust the balance in a way that increases your net energy (and yes, I can attest this really works!); the second provides tips on how you can break through if you’re finding that your advisory business has plateaued; and the last is a look at how if you really want to make positive changes for yourself, it’s better to think not in terms of setting goals, but creating new systems and habits for yourself that allow your goals to be achieved.
Enjoy the “light” reading!
source https://www.kitces.com/blog/weekend-reading-for-financial-planners-feb-18-19-2/?utm_source=rss&utm_medium=rss&utm_campaign=weekend-reading-for-financial-planners-feb-18-19-2
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