Practice management

By some estimates, roughly 80% of typical small business owners net worth is tied up in their company. Yet, according to experts, most entrepreneurs have not taken the time to formally value their businesses.

CPAs have long been sought after as centers of influence by members of the financial services profession. But, the role they play and how they are perceived and accessed by financial advisors is undergoing a dramatic shift.

Social media is great for marketing. For customer authentication, not so much.

What makes you different from other advisors? Why should your ideal clients choose you over all the other advisors they have access to? And is that uniqueness something you developed as part of your marketing plan, or is it who you are?

Financial advisors know there’s a lot of competition in the marketplace today. And they know they need a unique value proposition to help market their services and attract new clients. But creating the right unique value proposition can be a challenge.

As many as two-thirds of organizations are said to be ineffective or inefficient in some capacity. Sometimes the inefficiencies are brought on by laziness -- other times they are the result of a massive corporate scandal.

Few advisors could imagine running their business without email, but many probably wish they could run it with a little less email.

The most vulnerable groups were singles, households with no pensions, African-Americans and Hispanics.

Men and women 35 – 64 with income of $150,000 - $249,000 may represent the ripest sales opportunities for advisors, according to poll by Nationwide Financial.

The good news: ultra-wealthy individuals tend to put their trust in wealth managers. The bad news: most, still cautious after the Financial Crisis, tend to prefer using multiple advisors.

In her first extensive interview since becoming the lead Democrat on the House banking panel, Rep. Maxine Waters says she has learned a lot from watching former Rep. Barney Frank's leadership and will strive to emulate his example.

Advisors expect revenue growth this year, according to an SEI poll, and 53% expect increases of more than 15%. However, only 15% said they have a growth plan that they follow and monitor.

Advising clients financially can be emotional business. A female-friendly advisor knows how to validate clients’ feelings while assisting them in making sound financial decisions. This is not an easy task, however, and a simple technique called the Wise Mind can help.

The financial advisory industry could reach $850 billion in investable assets annually for the next decade, according to Pershing, but to be part of that growth, advisors need to follow four critical guidelines.

FINRA has fined and censured a company owned by Cetera Financial Group, one of the country’s largest networks of independent broker-dealers, $40,000 for late and improper filings in more than half of its sales branch offices, among other filing problems.

The new program streamlines reporting for clients and provides them with more concrete action plans to help them achieve their financial goals.

Increased automation will provide advisors with more time to spend on client relationships, planning, and prospecting.

More than half of Gen X and Gen Y consumers in the U.S. admit having little or no knowledge about investments and financial products, according to a LIMRA study.

Client events are essential for maintaining a strong book of business. Financial planners offered several pieces of specific advice for advisors interested in holding great events.

Fewer investors across all age groups are using traditional advisors as their primary advice provider, with the decline most pronounced among investors under 50.