“Personal data can tell you so much more beyond just providing insights into individual client behaviors. You can take these streams of data, clean them up and extract valuable insights that look across the book of business to highlight trends and challenges that are not really visible on a case-by-case basis.”
Firms have made strides in the previous decade in terms of adopting self-service, web-based solutions—but the existing “fixed decision tree” approach is not sufficient for the next evolution in client service.
Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and fiduciary change.”
Following up on a broad discussion of market volatility, John Diehl, SVP of strategic markets for Hartford Funds, encourages advisers to consider new means to separate their service offerings from the competition; he also offers a sneak peek at some forthcoming research produced in partnership with the MIT AgeLab.
An analysis from the American Institute of CPAs shows how clients can use their recently filed tax returns to map out a more efficient budget and investing plan for 2018.
A new analysis from Corporate Insight underscores the continued proliferation of “responsive design” within retirement plan service providers’ web offerings—benefiting plan participants and sponsors.
With a focus on accessibility and ease of use, Advisor Console’s new features and functionality allow financial professionals to be more efficient when serving their clients’ plans and investments.
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.
The Certified Financial Planner Board of Standards has adopted a revised ethics code that requires a CFP professional to act as a fiduciary in all client service contexts, and therefore, to act in the best interests of the client at all times when providing financial advice.
In an interview with PLANADVISER, Jerry Ripperger, vice president of consulting at Principal, highlights a new, fee website the firm has rolled out to help advisers and their clients explore the potential benefits of launching employee stock ownership plans as part of a broader ownership transition.
Health savings accounts are often described as the 401(k) of health care—so it is only natural that retirement specialist advisers can play an important role in educating the public about these important savings vehicles; survey data shows more education and advice is desperately needed.
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.
Military members using an adviser report contributing nearly double the amount to their retirement accounts on average compared with those lacking regular financial guidance.
Devenir finds HSA assets grew to an estimated $45.2 billion, spread across some 22 million accounts, at the end of 2017; as more account owners are investing their HSA dollars, the demand for advice is clear.