Practice and Client Management News

Financial Planning's Practice and Client Management coverage includes essential advisor-level strategy and operational insight for firms and solo practitioners. Read how elite advisors build retention-driven practices, manage high net worth relationships and operationalize growth frameworks that go beyond rudimentary 101 topics. Learn the latest financial planning news from expert reporting and analysis that matters to industry leaders.

Portfolio management

How to train clients for uncertainty, according to David Booth, Morningstar

In sessions at last week's Morningstar conference, Dimensional Chairman David Booth, "Unreasonable Hospitality" author Will Guidara and behavioral finance experts shared tips on how financial advisors can provide valuable coaching to clients.

By Tobias Salinger
Chief Correspondent

June 24
Wealth management

Morgan Stanley's Vince Lumia: AI may let advisors triple their client loads

The head of client segments in Morgan Stanley's wealth division acknowledges AI could one day be the primary source of financial advice for mass affluent clients. Morgan Stanley advisors working with wealthier investors will have to up their games.

By Dan Shaw
Reporter

June 24
Wealth management

HSBC Wealth survey shows AI losing out to humans in key areas

For the truly rich, artificial intelligence can't compete with human advisors in handling many of their needs, according to a report from HSBC Holdings.

June 24
Wealth management

Edward Jones starts offering financial monitoring from fintech Carefull

The Carefull tool integrated into Edward Jones accounts aggregates client accounts and monitors for fraud or mistakes.

By Zoe Sagalow
Reporter

June 24
Wealth Think 4 ways financial advisors can build trust with LGBTQ prospects

Saying nothing is a dealbreaker. An RIA founder shares proven marketing strategies to show sincere support for LGBTQ goals.

June 24

Lindsey Young

Quiet Wealth
Wealth management

Changes to BNY Pershing's fees are a sign of the times

BNY Pershing declined to state the size and fees of its clearing and custody business with RIAs and other wealth management firms. But that's hardly unique in a channel of the industry with shrinking margins.

By Tobias Salinger
Chief Correspondent

June 23
Regulation and compliance

Does NAPFA's new fiduciary definition clarify or muddy the water for clients?

Some advisors say they already have a hard enough time explaining what a fiduciary is under federal law and that NAPFA's new definition for fee-only planners will only add to the confusion.

By Dan Shaw
Reporter

June 23

Practice & Client Management: Key Questions & Analysis

How should financial advisors rethink client management as they grow their practices?

As advisory firms grow, client management often shifts from ad-hoc relationship handling to processes focused on segmentation, service models and long-term retention. Coverage in this area reflects how advisors are operationalizing client experience as a core business discipline.

What operational challenges are most important in advisor-client relationships?

Advisors face increasing pressure from capacity constraints, rising client expectations and the need to balance personalization with scale. Practice and client management reporting highlights where firms are finding success to maintain service quality while expanding.

How are advisors adapting communication strategies to changing client expectations?

Client communication strategies are evolving as advisors respond to demographic shifts, digital expectations and heightened demand for transparency. Read how firms are adjusting cadence, channels and messaging.

How does client management impact long-term practice value?

Effective client management is often viewed as a driver of enterprise value. Client management is a key area of focus for retention, referrals and succession outcomes. Learn how client experience strategy directly to firm durability and valuation.