15 books advisors should not miss

Published
  • October 26 2016, 12:27pm EDT
With the help from 15 wealth management experts, we have handpicked titles from our past successful reading lists that advisors must read this fall. Whether it's practice management, portfolio construction, succession planning or just inspirational reads, we have it covered.

Click through our listicle to learn more.

Summer might have ended, but that is not the reason to put your books away.

With the help from 15 wealth management experts, we have handpicked titles from our past successful reading lists that advisors must read this fall. Whether it's practice management, portfolio construction, succession planning or just inspirational reads, we have it covered.

Click through our listicle to learn more.

Money Master the Game, by Tony Robbins

Recommended by Maura Griffin, founder of Blue Spark Capital Advisors, New York

"There has been much controversy about this book, and he does not get everything right. But after several new clients came to my office specifically looking for a fiduciary because of Tony Robbins, I realized I had to read it. If nothing else, Robbins does a great public service by clearly explaining the significance of hiring a fiduciary."

Content Continues Below

Success and Succession by Eric Hehman, Jay Hummel and Tim Kochis.

Recommended by Lyle Benson, founder and president of L.K. Benson, Baltimore

"This book is much more than just a practical hands-on guide to handling the succession planning process for your firm. The tips and insights from both the founder and the successor perspective have proved invaluable as we embark on this process in our firm. If you feel like you are stuck and don't know where to start with your own plan, this will help get you over that hurdle.”

The Power of Money Dynamics, by Venita Van Caspel.

Recommended by Malcolm Makin, president, Professional Planning Group, Westerly, Rhode Island

"More than two decades ago, author and financial planner Venita Van Caspel warned that middle class Americans were learning nothing of what they needed to know about managing their own personal finances. Her book continues to be a classic. We live in an era of complex laws and regulations. The CFP movement was born in an effort to take professional financial advice out of the hands of sales people and into the hands of people who represented the interests of their clients."

Decisive: How to Make Better Choices in Life and Work, by Chip Heath and Dan Heath.

Recommended by Michael Liersch, head of behavioral finance at Merrill Lynch, New York

"In a world where there is so much information — and so many decisions to make — understanding how to make better decisions is critical. Providing colleagues (or even clients and prospects) with research-based insights into how to navigate the complexity of decisions in life and work will always be welcome. Read it for yourself, too, and find insights that will help you coach your colleagues and clients in empowering ways — from asking better questions to helping groups make more productive, successful decisions."

Content Continues Below

Reducing the Risk of Black Swans, by Larry Swedroe & Kevin Grogan

Recommended by Manisha Thakor, founder/CEO at Money Zen Wealth Management, Portland, Oregon

"If someone told you that you could significantly reduce the percentage of your portfolio that is allocated to stocks and yet still earn a return comparable to a typical stock-heavy portfolio would you be interested? If so, you want to read this book. It's a guide to using an "evidence-based" investment philosophy to create effective, efficient, globally diversified, low cost portfolios. The secret sauce involves harvesting the power of key return factors on the equity side (small, value, profitability, and emerging markets) with a focus on paring down credit and interest rate risk on the fixed income side so that bonds provide a true volatility buffer to equities enabling an investor to stay the course."

Winning the Loser's Game, 6th edition, by Charles D. Ellis

Recommended by Harold Evensky, president of Evensky & Katz/Foldes Financial of Coral Gables, Florida

"This is a book fit for anyone who wants to learn about long-term market gains. It's short, elegant and easy to read. I've given copies to many clients."

The Tao of Pooh, by Benjamin Hoff

Recommended by Edward S. Blumenthal, executive vice president at Janney Montgomery Scott, Philadelphia

"This is a speedy read. While some advisors may see this as an intro to Eastern thought, it is also a perspective of how [advisors] have each of the classic A.A. Milne stories embedded in them. Some tend to lean toward one character than another, but striking a balance between all of the traits is paramount. Not too much of 'The sky is falling!' Eeyore, or kinetic Tigger. Owl doesn't really know everything, and Rabbit is always looking at what is coming next — never taking time to enjoy where he is! We all should strive to be Pooh: personally and professionally."

Content Continues Below

Pioneering Portfolio Management, by David Swenson

Recommended by Richard Alt, principal, chief investment officer, Carnegie Investment Counsel, Cleveland

"By the man who masterminded the Yale Endowment Model."

Essentialism, by Greg McKeown

Recommended by Brad Johnson, practice management coach, Advisors Excel, Topeka, Kansas

"With the daily chaos that most successful financial advisors must navigate, the 'essentialism mindset' is a laser-focused methodology that will smack you in the face if you aren't ready for it. If you've ever had one of those days with the best intentions to get your to-do list done and things kept getting in the way, this is the framework to help you stop 'majoring in minor activities.' It's a framework for defining a 'less but better' approach to your life and business to focus on the things that really matter and maximize your contributions to your family and business. My top business read for the year so far."

8. The Richest Man in Babylon, by George S. Clason

Recommended by Ron Rhoades, CFP, program director at the Finance Gordon Ford College of Business, Bowling Green, Kentucky

"Not all books planners can learn from are fresh off the presses. “This book contains valuable lessons on managing one's finances.“This 89-year old text is very impactful on students, advisors and clients alike."

Content Continues Below

Atlas Shrugged, by Ayn Rand

Recommended by Robert Baglia, president of American Financial & Tax Strategies, New York

"Every advisor should read [this book] for greater insight into people, capitalism, free markets, the consequence of government meddling, self-reliance and individual achievement, and what makes some businesses great and others mediocre."

Procrastinate on Purpose, by Rory Vaden.

Recommended by Joanne Welker, Benjamin F. Edwards & Co., manager, advisory services, St. Louis

"Vaden adds a third dimension to the concept of time management. He’s observed it, he’s lived it and now he shares it with all of us. A perfect book to start the new year to help yourself, and those you manage, multiply productivity."

Lords of Finance, by Liaquat Ahamed

Recommended by, Bob Clark, Senior Vice President at Janney Montgomery Scott, Danvers, Massachusetts

"I’m currently re-reading this book. It’s about the period between the world wars and the interactions between the four most significant central banks of that time. The writing is great and the similarities between then and now are enlightening and unnerving."

Content Continues Below

The End of Alchemy, by Mervyn King

Recommended by Ben Emons, chief economist and head of Credit Portfolio Management, Intellectus Partners, San Francisco

"An insider's view on the role and evolution of central banking in the last 20 years, the author outlines in plain language how central banks operate, the economic theories that frame those operations and how monetary policy have changed as conditions have changed."

The Supernova Advisor by Robert Knapp

Recommended by Larry Gekiere, senior vice president, Texas Capital Bank, Dallas

"This quick and easy read is a great road map for an advisor who is looking to take their practice to the level of client service that would be the envy of other advisors."