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When spouses or other family members can't agree on where to donate their money, it's time for some diplomacy.
Stocks that have suddenly become predominant in a client's portfolio are prime candidates for a charitable donation.
When helping clients plan their charitable giving, there are two topics advisors need to cover in-depth in their first conversations.
The benefits of CRTs are easy to see, but some clients remain confused about the disadvantages.
Mixing your clients' charitable impulses with your own can have multiple benefits.
Some clients are tempted to give too much, while others could afford to do much more. Where do advisors draw the line between helpful and intrusive?
Including the next generation in a family's charitable activities helps advisors build a relationship.
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.
Advisors should think carefully about finding the right macroeconomic numbers and statistics to share with clients.
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.
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.