More than 60% of advisers polled by Cerulli Associates agree that client demand for “financial planning” is increasing; at the same time, broker/dealers are refining their digital planning support for advisers in order to retain top talent.
Financial advisers almost universally report the use of social media has changed how they communicate with and win new clients; however, they disagree to some extent about the real impact social media use has on the quality of client relationships, and by extension, business performance.
With so much uncertainty now overhanging the future of the DOL fiduciary rule expansion, the onus is squarely on advisers, broker/dealers and recordkeepers to decide how they will respond; we hear from one small advisory firm in Northern Ohio that will carry on with business as usual.
Working Texas Tech University, Advisor Group has published a new survey examining how young professionals entering the advisory filed think about their current work and future career prospects; researchers also highlight the importance of community engagement for elevating the advisory profession.
Looking to 2018 and beyond, traditional advisers, brokerage firms and banks are widely (and aggressively) seeking to integrate digital advice into their service offerings; the CFP Board Center for Financial Planning offers a digital advice road map to help make sense of it all.
Offering some preliminary commentary on the SEC’s newly announced adviser 12b-1 fee conflict of interest “amnesty” program, as it’s being referred to in the trade media, Wagner Law Group attorneys warn of the inherent risks in the self-reporting of violations.
Since the 20% deduction of qualified business income means that a self-employed individual will be taxed at a lower rate than an employee performing substantially the same work with a broker/dealer firm, might more brokerage employees be driven to act as independent contractors?
Josh Robbins, lead strategy officer for the direct-to-sponsor plan provider America’s Best 401K, offers a closer look at the virtues and potential weaknesses of the firm’s “disruptor” model and short sales cycle.
Cerulli categorizes consolidator firms into three segments, and “The merits and drawbacks of each segment’s business model will often depend on the adviser’s motivations for affiliating with a larger partner.”
Troubling, many of the companies that say they have formal succession planning programs in place in truth dedicate very few hard-dollar resources, if any, to help.
The digital training platform aims to support professionals entering the advisory field through peer meetings, mentoring and more.
More than 60% of advisers say they work within a team structure, yet only one-third of teams regularly collaborate in their daily decisions and processes.