Nerd's Eye View

OCTOBER 11, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a CFP Board ad campaign promoting a career in financial planning to high school and college students sparked an uproar in the planning community, as some advisors questioned whether the messages being sent in the ads – (..)

Practice Management 91

Practice Management Planning Financial Data Numbers 91

Nerd's Eye View

SEPTEMBER 13, 2024

Also in industry news this week: A CFP Board study indicates that financial planners with the certification earn 10% more than other advisors and show very high levels of career satisfaction A Morningstar study has identified 4 main areas where investors find value from their financial advisors, which might not match an advisor's own list of top ways (..)

Compliance 91

Compliance Communication Practice Management Advertising 91

Nerd's Eye View

JANUARY 19, 2024

Nevertheless, there is potential for many individual RIAs to expand their staffing further, with the addition of specialized planning and operations roles being seen as a potential avenue to boost firm growth.

Practice Management 91

Practice Management Numbers Planning Marketing 91

Nerd's Eye View

FEBRUARY 17, 2023

Read More.

Practice Management 80

Practice Management Compliance Planning Securities 80

Nerd's Eye View

DECEMBER 25, 2023

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Practice Management 86

Practice Management Tax Planning Planning Securities 86

Nerd's Eye View

OCTOBER 30, 2023

Most notable is the fact that industry associations are not the drivers of advisor conferences that they once were; while a decade ago, 75%+ of this "Best Conferences" list consisted of various events run by industry associations, now it numbers less than 25%.

Practice Management 94

Practice Management Numbers Budgeting Economics 94

Nerd's Eye View

NOVEMBER 25, 2024

Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.

Planning 57

Planning Sales Investments Numbers 57

Nerd's Eye View

DECEMBER 30, 2024

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Tax Planning 69

Tax Planning Practice Management Planning Communication 69

Nerd's Eye View

JUNE 14, 2024

Also in industry news this week: While an infusion of Private Equity (PE) capital has shaken up the RIA M&A market, the ultimate implications for advisors, their clients, and the PE firms themselves remain unclear A recent study has found that a significant portion of 'DIY' investors are open to working with a human advisor (and paying for the (..)

Practice Management 89

Practice Management Planning Numbers Marketing 89

Nerd's Eye View

FEBRUARY 2, 2024

Also in industry news this week: A recent study from advisor digital marketing firm Snappy Kraken suggests firms that invest in Search Engine Optimization (SEO), have a regular cadence of emails to their subscriber list, and include video content in these messages tend to get greater returns from their marketing efforts CFP Board has created a guide (..)

Practice Management 87

Practice Management Education Compliance Investments 87

Nerd's Eye View

JANUARY 3, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with a recent survey indicating that a majority of advisors are viewing new client acquisition as their primary challenge in the current competitive environment for financial advice (followed by compliance and technology management) and suggests (..)

Practice Management 85

Practice Management Valuation Compliance Planning 85

Nerd's Eye View

SEPTEMBER 6, 2024

Notably, while the rule will create an additional compliance burden, the due diligence advisers offering comprehensive planning services (as well as their investment custodians) are likely already conducting on their clients to create an effective financial plan could be a 'defense mechanism' for these firms against criminals looking to take advantage (..)

Treasury 89

Treasury Tax Planning Practice Management Compliance 89

CFO News Room

DECEMBER 17, 2022

From there, we have several articles on practice management: Why it is important for advisors charging on a fee-for-service basis to regularly reassess their pricing, and best practices for letting current clients know about a fee increase. Adam is an Associate Financial Planning Nerd at Kitces.com. Team Kitces.

Planning 130

Planning Education Investments Benchmarking 130

Nerd's Eye View

MAY 3, 2024

At the same time, the study found that potential breakaway brokers view the operational and compliance requirements of transitioning to and doing business as an RIA as a major concern, which could lead some of them to either leverage the growing number of service providers available to RIAs, or perhaps join an existing corporate RIA platform to take (..)

Healthcare 80

Healthcare Construction Practice Management Leverage 80

Nerd's Eye View

JANUARY 6, 2023

How planning specializations can help firms and their advisors stand out from the pack. From there, we have several articles on retirement planning: Why an individual’s portfolio of relationships could be just as important as their investment portfolio when it comes to happiness in retirement.

Practice Management 81

Practice Management Auditing Planning Investments 81

Nerd's Eye View

JANUARY 20, 2023

While it remains to be seen whether the measures will actually be enacted, proposed measures include raising income and capital gains tax rates, instituting wealth taxes, and reducing the state estate tax exemption, potentially creating future planning opportunities for advisors with clients in those states. Read More.

Practice Management 79

Practice Management Cash Management Leadership Numbers 79

Nerd's Eye View

OCTOBER 13, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with a new study from Herbers & Company that provides insight into the financial planning services that consumers demand the most, and which services financial advisory firms offer the most often.

Practice Management 85

Practice Management Planning Numbers Investments 85

Nerd's Eye View

JULY 28, 2023

Also in industry news this week: The SEC released a proposal that would require firms to take steps to eliminate or neutralize conflicts of interest when using predictive data analytics tools with clients A recent study found that financial advisors remain the top source of financial advice for consumers, with social media coming in well behind From (..)

Benchmarking 91

Benchmarking Practice Management Securities Numbers 91

Nerd's Eye View

DECEMBER 9, 2022

Though given that potentially conflicted practices such as ‘payment for order flow’ are a source of revenue for brokers, such regulation could portend a shift back to explicit transaction fees as they seek to maintain their top line. A four-step process that advisors can use to help clients who tend to overspend.

Practice Management 79

Practice Management Planning Finance Retail 79

CFO News Room

NOVEMBER 28, 2022

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. Combined with growing advisor (and consumer) interest in comprehensive financial planning services, the number of ways advisors can add value for their clients has expanded greatly. Executive Summary. Team Kitces.

Tax Planning 130

Tax Planning Planning Investments Profit and Loss 130

Nerd's Eye View

APRIL 7, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the T3/Inside Information Software Survey is available, providing insights into which technology tools advisors use and their level of satisfaction with them, which highlighted the continued rise of specialized financial planning (..)

Prioritization 84

Prioritization Practice Management Auditing Communication 84

Nerd's Eye View

SEPTEMBER 9, 2022

But amid competition from large asset managers and broker-dealers, advisors can consider how they can shape their service offerings and fee structures to attract Millennials and build client relationships that could last for decades to come.

Practice Management 81

Practice Management Education Planning Securities 81

CFO News Room

DECEMBER 12, 2022

Earlier this year, we introduced our own Investment Adviser Representative (IAR) CE programs that allow those in the growing number of states that have adopted the NASAA Model Rule to meet their 12 hours/year CE requirement. Expanding IAR CE Support As 9 More States Adopt In 2023.

Education 130

Education Planning Investments Profit and Loss 130

Nerd's Eye View

OCTOBER 14, 2022

While this will help seniors keep pace with rising prices, it also creates tax planning opportunities for advisors and raises the possibility that the Social Security Trust Fund could be depleted sooner than expected. for 2023, the largest COLA since 1981. Why accounting firms have become hot acquisition targets for RIAs.

Tax Planning 85

Tax Planning Practice Management Accounting Firms Securities 85

Nerd's Eye View

MAY 12, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a recent study found that clients of advisors providing comprehensive planning services are significantly more satisfied than those receiving a lower tier of service.

Tax Planning 86

Tax Planning Practice Management Valuation Investments 86

Nerd's Eye View

SEPTEMBER 1, 2023

Also in industry news this week: A legal challenge to FINRA's operations as a self-regulatory organization has the potential to upend the current regulatory system for broker-dealers and their registered representatives A recent study indicates that while many consumers appear confident handling their finances on a 'DIY' basis during their careers, (..)

Strategic Planning 81

Strategic Planning Construction Practice Management Communication 81

Nerd's Eye View

SEPTEMBER 15, 2023

Also in industry news this week: The SEC agreed to a series of settlements with 9 RIAs resulting from charges of improper use of hypothetical returns in advertising under the regulator's marketing rule How several CEOs of large RIAs and AdvisorTech companies have found that receiving funding from private equity firms and taking the responsibility for (..)

Practice Management 89

Practice Management Advertising Leadership Numbers 89

Nerd's Eye View

JANUARY 27, 2023

By switching to 501(c)(6) nonprofit status, the new CFP Board of Standards will have expanded abilities to advance the planning profession through lobbying and more targeted advertising messages to grow the ranks of CFP professionals.

Nonprofit 83

Nonprofit Practice Management Advertising Cash Management 83

Nerd's Eye View

MARCH 8, 2024

to prevent fraud. Read More.

Practice Management 79

Practice Management Risk Management Communication Leverage 79

Nerd's Eye View

FEBRUARY 10, 2023

Also in industry news this week: The SEC this week released its 2023 examination priorities, which include its new marketing rule, Reg BI, and complicated investments The House of Representatives is considering legislation that would broaden the definition of who qualifies as an accredited investor and is potentially eyeing a role for financial advisors (..)

Practice Management 83

Practice Management Investments Numbers Planning 83

Nerd's Eye View

AUGUST 18, 2023

At the same time, though, the report also found that asset managers that are the primary source of retirement advice tend to hold a larger percentage of a client's portfolio, suggesting that offering financial planning services tailored to the needs of a firm's clients really is helping as a source of organic growth (as clients bring more assets under (..)

Practice Management 91

Practice Management Finance Numbers Planning 91

Nerd's Eye View

NOVEMBER 18, 2022

From there, we have several articles on tax planning: How advisors can add value for their clients by managing their exposure to mutual fund capital gains distributions. The time management principles that are used by the most successful leaders. How advisors can help their clients turn their HSAs into wealth-building machines.

Tax Planning 78

Tax Planning Practice Management Leadership Planning 78

Nerd's Eye View

JANUARY 12, 2024

Also in industry news this week: The Department of Labor (DoL) this week published a final rule delineating what makes an individual an independent contractor versus a company employee, though it did not provide specific guidance for registered representatives of broker-dealers and other financial professionals who have expressed concern that their (..)

Practice Management 85

Practice Management Budgeting Communication Securities 85

CFO News Room

DECEMBER 10, 2022

Though given that potentially conflicted practices such as ‘payment for order flow’ are a source of revenue for brokers, such regulation could portend a shift back to explicit transaction fees as they seek to maintain their top line. Adam is an Associate Financial Planning Nerd at Kitces.com. Enjoy the ‘light’ reading! Team Kitces.

Mergers and Acquisitions (M&A) 130

Mergers and Acquisitions (M&A) Planning Valuation Accounting 130

Nerd's Eye View

AUGUST 23, 2024

financial planning, CRM, portfolio management), while taking a more tailored approach to selecting tech in other categories. The survey found that most firms fall into the middle category, utilizing tech in categories that provide an assessed high return on investment (e.g., Read More.

Prioritization 76

Prioritization Practice Management Budgeting Investments 76

Nerd's Eye View

SEPTEMBER 23, 2024

In Jake's case, after deciding that he was overservicing clients during the earlier years of his practice, he started scheduling fewer standard meetings and limited the number of after-meeting action items, freeing up his time and mental bandwidth for other activities to grow and run his firm.

Prioritization 98

Prioritization Auditing Planning Leverage 98

Nerd's Eye View

JULY 10, 2023

As owners of financial planning firms approach retirement, some may decide to sell to an external buyer, while others may plan for an internal succession. Sometimes, this succession plan can include the owner's child, providing an opportunity to keep the business in the family.

Planning 95

Planning Advertising Investments Marketing 95