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Strike a balance between remaining friendly with clients' family members and effectively stopping persistent and inquisitive ones from sussing out details that should remain confidential.
Data backup may not be the most interesting part of an advisor’s role, but they must make the necessary measures a top priority, compliance and security officers say.
Everyone on staff should know how to handle sensitive client information, making it possible for them to be responsive, but not nosy.
As hackers and scam artists become more sophisticated, screening for scams can be difficult. Advisors must understand the top threats to client data and what might happen in the event of a breach.
Lawyers who regularly represent disgruntled clients who make allegations against financial advisors offer reassurance to the vast majority in the industry. Keep the big picture in mind and recognize that only a tiny fraction of financial advisors get sued, they say.
Security experts recommend advisors use not only passwords, but a more stringent form of verification, known as “two-factor authentication,” for logging into every device and into every data collection system they control.
Advisors should keep abreast of what their employees post on social media, but also recognize that notions of appropriate online commentary vary among generations.
When news accounts make clients jittery, advisors must help them strike a balance between bad news and the long view.
New York is the capital of the art world, but brave investors may want to look farther afield for opportunities. Be very careful, advisors say.
Advisors should think carefully about finding the right macroeconomic numbers and statistics to share with clients.
Which is more important to clients' frontier economy asset portfolios? Debt? Equity? The answer is both.
Advisors must carefully examine what countries and types of companies are in various indexers’ emerging and frontier market baskets.
Currencies can offer investors high returns, but advisors should be aware of the dangers of buying equity and currency assets from the same place.
With domestic oil and gas production forecasts buoyed by fracking extracting technologies, many investors have begun to seek new ways to refine their asset portfolios so they bolster efforts to help the earth achieve sustainability.
Advisors need a global outlook to best serve their clients. International travel can help achieve such a vision meaningfully.
Israel and Gaza. Russia and the Ukraine. When does smart money bet on the conflicts subsiding?
Michael Aronstein, a portfolio manager for Marketfield Asset Management, says the Fed moves have forced advisors to rethink the way they use bonds in a portfolio.
"Our industry is at the early stages of disruption by robo advisors. It's not a question of if this will happen but when and how much," says planner and industry consultant Deborah Fox. Here are three upgrades advisors need now.
For some advisors, a virtual office model offers advantages other than a reduction in costs.
Achieving these three goals can help advisors meet their firms' ultimate growth objectives, an online marketing exec tells advisors.