Practice management

Reaching multi-million dollar success as a female financial advisor is all about carving your own path. That is what four multi-million dollar female financial advisors said at the Women Advisors Forum in Newport Beach, Calif., on Thursday.

When it comes to talking about retirement, eldercare, and inheritance, parents may be from Mars while their grown children might as well be living on Neptune.

Each generation has distinct characteristics that inform the way its members like to communicate and connect with other people. Naturally, most people approach others the way they’d like to be treated, but that doesn’t cut it for advisors working with clients from a different generation, said Cam Marston, a generational characteristics expert and consultant with his firm, Generational Insight.

The program, announced Wednesday, will provide financing for junior partners seeking equity in a firm. It's currently in a pilot phase for registered investment advisory firms with more than $400 million in assets under management and at least three existing senior principals.

What is different about you? Why should prospective clients choose you over any other advisor with whom they may speak? To successfully attract clients, there needs to be some reason for those particular people to choose your offering from among all of their options. So, what is it about you?

Virtually every independent financial advisor practice has a web page, and while an increasing number of advisors are seeking to make better use of other digital platforms such as Facebook, Twitter and LinkedIn, far too many still do not have a coherent digital marketing plan in place to complement their overall marketing strategy.

When you serve a client well during one of the most difficult times of their lives, it’s not just helpful for the client, but it’s also good for your business says Amy Florian, an educator, Schwab Impact speaker and the founder of the Chicago-based loss and grief consulting firm, Corgenius.

The Securities and Exchange Commission has filed 734 enforcement actions in the past year, one shy of last year’s record of 735, with a focus on investment advisors.

Is your business ready to offer mobile services to clients? Already, a quarter of U.S. online adults have an interest in using their mobile devices as a main channel for their personal financial life, said Neesha Hathi, senior vice president of Charles Schwab's Advisor Technology Solutions, at a technology trends panel Wednesday at Schwab's Impact conference.

Merrill Lynch has added industry veteran Daniel Sandlin from Morgan Stanley.

The firm has added a team with over $500 million in production to its southern California offices.

Some planners join boards. Others volunteer for local causes. Sun Group Wealth Partners in Irvine, Calif., decided to build bridges with its community by funding memberships for about 1,000 families of kids with special needs like autism to a unique educational museum called Pretend City.

In fact, a couple age 65 might need $387,000 saved in order to be confident of covering their health care costs in retirement, not including outlays for long-term care.

An advisory committee organized under the Treasury Department on Tuesday voted unanimously to move forward with a set of proposed rules intended to stabilize money-market funds and prevent a run on assets similar to the jolt the market experienced during the financial collapse of 2008 and 2009.

Financial services companies that cater to advisors have a lot of room for improvement—especially insurance companies.

Since the implementation of a new set of registration requirements under the Dodd-Frank financial reform bill, the regulatory landscape for investment advisors has shifted dramatically, according to data compiled by the SEC's Division of Investment Management.

The world’s biggest investors say the rout that erased $1 trillion from the value of global equities after President Barack Obama was re-elected overlooks the fact that the world economy is improving while U.S. leaders start discussions that may avoid the so-called fiscal cliff.

In the wake of a settlement of a patent infringement lawsuit involving two major financial planning software products, both sides are proclaiming victory.

Many people use LinkedIn to search for a new job. As a financial professional, you want to use LinkedIn to search for new prospects, and strengthen your relationship with current clients. So in a way, your LinkedIn profile is like a mini-resume. Your profile is successful if it helps prospects and clients have confidence in your abilities and want to engage your services.

Bruce R. Bent II, president of the failed $62.5 billion Reserve Primary money-market fund, was found liable for one claim that he negligently violated a securities law while his father was absolved of any liability in a lawsuit brought by the Securities and Exchange Commission.