They’ve changed the rules of the game for retail stores, travel, movie going, music, dating and marketing to financial advisors. In large part due to companies like Facebook, Amazon, Netflix and Google (FANG), as many as 70% of your financial advisor prospects will make a decision about doing business without ever speaking to you. Their decision […]
If you missed Part 1 of The Wealth Manager’s Perfect Storm of Risk, click here. One of our biggest jobs as wealth managers is to protect our clients from unnecessary risk. The tools we use to diversify, allocate, rebalance and tax harvest have radically evolved in recent years. In Part 1 of this blog series about […]
The bull market marked its 8th anniversary this year. But as the Wall Street Journal reported March 8th, “Stocks Have Tripled Since Crisis, but Low Rates Are Still Squeezing Savers.” Retirees have reacted to low interest rates by opting for higher-risk investment strategies, exposing themselves to volatility and sequence risk in an effort to make […]
Dr. Wade Pfau’s research helps us understand that systematic withdrawal plans do not obviously outperform annuities as a way to meet retirement spending goals as well as providing support for contingencies and legacy. He adds: “Advisors with aversion to income annuities think carefully about whether their advice is serving the best interest of their clients.” […]
Stories stick in our minds and connect with us at an emotional level. Good stories change our perspective. What’s really memorable about Super Bowl ads? Most would agree, it’s the story they tell. Narratives matter but storytelling matters more. Storytelling has become one of the latest marketing buzz words. Maybe we should say “over-used.” We […]
Research shows that most advisors are ignoring you. “More than one in two advisors never bother to review 90% or more of the marketing materials they’re flooded with, a Practical Perspectives survey of advisors reported.” The new DOL fiduciary rule gives you a chance to reverse that trend. Otto Rohwedder of Davenport, Iowa patented the […]
We’re not in Kansas anymore, Toto. We have all been blown into a new reality. The DOL released its final rule re-defining the role of fiduciaries. Even if we click our heels 3 times, we’re not going back to the “suitability” standard. While this new rule applies to 401ks, IRAs and the like; we can’t […]