Happy Friday, readers! There are a lot of elements to ensuring success in the financial advisory profession, but at the core is quality client service. You can have the best growth rate in the industry and the most effective sales staffers out there, but if you aren’t retaining existing clients, it will all be for naught. Collected below is a series of articles on the topic of ensuring quality client service. We hope you will share some of what you read with a client or colleague.
A look at the many services that retirement plan advisers provide to micro plans, i.e. those with less than $5 million in assets, particularly review of fund performance and plan investment selection guidance.
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Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.
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One adviser charges a flat fee up to certain asset levels, and then additional basis points as plans grow, while another emphasizes the detailed, time-intensive fiduciary work he does for clients when asking for a fee increase.
The IRS says the published guidance process can be successful only if it has the benefit of the insight and experience of taxpayers and practitioners. It invites the public to provide comments and suggestions.