March 1, 2004
Firing Clients
Is there any way to "fire" a client nicely? Developing skills in pruning clients can be every bit as important as developing the skills to bring them on.
March 1, 2004
Training Places
Training and education technology that has been de riguer in other industries is just now making an appearnce in financial planning. In a regualted business for which one new regulation is promulgated every seven days, access to training can be…
March 1, 2004
Less is More
A survery of more than 5,000 reps from LEL financial services reveasl a curious trend. Increasingly, planners want fewer, not more customers. Why? Because, in the ver popular high net worth space, less is more.
March 1, 2004
State of Flux
Substantial changes to the federal estate tax laws enacted in 2001 under the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) have upset the delicate balance between state and federal estate tax liabilities. T. Rowe Price asked me to write…
March 1, 2004
Inside the E&O Crisis
Inside the E&O Crisis: Errors and omissions coverage has become prohibitively expensive--when it's available. Here's how the situation effects brokers and wealth managers.
March 1, 2004
Home Base
For financial planners, home office can offer a lot of convenience, but it makes a definite statement.
March 1, 2004
It’s Not Your Father’s Bonus Anymore
Compensation in financial planning is shifting toward salary plus incentive compensation, with tied to specific objectives. Sound tricky? It is.
March 1, 2004
How to Fill the Room
If you're thinking about marketing financial planning services with seminars, think about this: there are no magic bullets when it comes to filling the room with prospects.
March 1, 2004
Assessing the P.I.T.A. Factor
Everyone knows how to get clients, in theory, if not in practice. There are some you just don't want however.
March 1, 2004
Snapshot in Time: The LPL Advisor’s Survey
When one of the largest indpendent broker/dealer's in the United States, LPL Financial Services, allowed me to survey their 5,100 registered reps, the results provided insights in into the evolution of wealth management.
March 1, 2004
Exit, Stage Left
As a financial advisor, do you think you'll work till you drop? Or do you think you might actually retire and enjoy the good life someday. If you decide to sell, here's how your practice might be valued.
March 1, 2004
PR Doesn’t Stand For Press Release
Truthfully, public relations should be thought of as one of the arrows in your promotions quiver along with advertising, personal selling, direct mail, et al. And unlike the other tools, public relations is designed to help bring you more business…
March 1, 2004
Expert’s Corner: Preparing for Tax Season
Another year comes to an end and investors as well as their advisers will begin the arduous task of preparing to file tax returns for 2003. What are the common areas of that will trip up taxpayers?
March 1, 2004
The Real Cost of Spending
This article I wrote for T. Rowe Price shows that investors need to look at today's expenditures not just in absolute terms, but also in terms of their potential future value. A family car for $380,000 anyone?
March 1, 2004
Looking Under the SMA Hood
Adding and dropping money managers in a managed account program is both science and art. Here's some insight into the process.
March 1, 2004
The Real Return on Real Estate
Leverage, sheltering of income and tax avoidance make calculating the real return on real estate tricky. This article, written for and published by Interbay Funding, a mortgage lender, does a deep dive on the nuances of calculating the real return…
March 1, 2004
Failing to Communicate Can Get a Manager Fired
When a manager gets knocked off one managed account program, does this mean that all the dominoes are about to fall? Yes, but they probably would have anyway.
March 1, 2004
Sex, Lies and Financial Planning
When clients divorce, what's a financial planner to do? As they say in a mindfield, step very, very carefully.
March 1, 2003
Handpicked: Separately Managed Accounts Can Offer Advantages Over Mutual Funds, but Watch Those Fees
As the popularity of mutual funds waned in response to a variety of factors, most notably perhaps the end of a product life cycle, Separately Managed Accounts caught fire. Spurred on by rapidly lowering investment minimums, assets in SMAs were…
March 1, 2003
A Who’s Who of Independent Research
In the wake of the "global settlement" -- the April 2003 agreement among 10 investment banking firms and the Securities and Exchange Commission -- brokers, advisors and investors soon will find lots more independent research reports on their desks.
