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Summary: Most people don’t make very good decisions about their own financial assets, as studies of the human brain have found. A new white paper from First Clearing and Cannon Financial Institute looks at some of the basic principles of neuroeconomics, the study of how people make financial decisions, and how advisors can use those principles to improve client service and communication.
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Summary: Financial advisers are changing their systems and procedures to protect clients and their own firms from the rising incidence of cybersecurity breaches. Advisers are taking such steps as verifying money requests, being more careful about passwords, banning client data from laptops and conducting annual cybersecurity audits to make sure they are protected from online criminals
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Summary: What would you change about your business? For many of you, it is all about marketing and new business development. In fact, according to a survey by Cerulli*, the average advisor only spends 15.7% of his or her time on new client acquisition. In Rick Henn’s SEI's Practically Speaking guest post, he outlines five simple things that advisors can implement with their marketing plans. Please enjoy Rick’s post.
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Summary: The planning industry is full of buzzwords, particularly in marketing. Anything that someone writes or develops is now “thought leadership.” Every special report or longish article is now a “white paper.” These terms are in danger of losing their meaning.Having worked with financial advisors for 25 years, I can say that most of them will never be seen as thought leaders – they just don’t have the time. That’s what it takes to be a thought leader: One must take the time to really think and advance the conversation around a body of thought.
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Summary: Let's hope most advisors are better at planning their clients' futures than their own. Just 17% of respondents in a new study -- largely focused on advisors who have strategic plans for their firms -- say their strategic planning factored strongly in their recent success
