Practice management

“If you want to make a client uncomfortable, you should ask them for a referral,” Thomas Fross, the CEO of Platinum Advisor Strategies, said at the Platinum Top Producers Boot Camp.

Financial advisors may have breathed a sigh of relief after lawmakers reached a deal to avoid the fiscal cliff, but the next several weeks will bring more debate, and potentially more turmoil, over big-ticket budget items that could dramatically alter the strategies you recommend to clients.

Hackers are creating new strategies to separate you, and your clients, from your money, but there are steps you can take to guard against these attacks, according to Bill Winterberg, a CFP and technology consultant, told a room of advisors at the TD National Conference in San Diego.

There are lots of ways to talk about what you do. Unfortunately, most of them aren’t terribly effective, and many actually turn people off. Ken Haman says there are some ways prospect effectively in social situations and make the biggest impact in a short period of time.

Don’t cry over spilled milk. Learn how to make the most of your mistakes.

Social media is starting to shake up the world of wealth management, but amid some big success stories, many advisors are unclear whether it’s worth their time.

Dan Dillard launched a video effort that’s on the verge of reaching thousands of clients beyond his book of business. Here’s the second part of his story.

Morgan Stanley Wealth Management has snapped up five financial advisors from UBS who previously managed $750 million in client assets.

Which part of your client-facing process is the weakest link? It’s time to fix it.

Advisors who want to optimize the value of their firm may be in luck.

The advisor population is “stagnant and aging;” older advisors may not relish the hassles of a moving to a new firm. Meanwhile, barriers to entry for new financial advisors remain high–less than 15% of trainees succeed in establishing a viable business.

Using its muscle to influence the debate as federal officials gear up to establish tighter regulations on the advisory world is the Financial Services Institute’s top priority this year, organization executives said Tuesday at the group’s annual conference.

Advisor Dan Dillard launched a video effort that’s on the verge of reaching thousands of clients beyond his book of business. Here’s part-1 of his story.

Facebook, which is used by 85% of advisors that are using social media, is far and away the most widely-used application, followed by LinkedIn (56%), Twitter (44%), Google (34%) and YouTube (31%).

If you want better new hires, improve interview process.

Share your thoughts on engaging women clients. Is it different?

WealthEngine has introduced a platform that helps advisory firms locate and profile high-net-worth individuals.

According to a recent “Investor Watch” report from UBS Wealth Management Americas, long-term care is respondents’ greatest personal financial concern.

Tales of professional athletes facing financial ruin are all too common. Whether it’s squandering millions or getting swindled by shady business and investment consultants, some athletes’ wealth falls as quickly as it rises.

A good old-fashioned team meeting can help prevent errors that stem from miscommunication.