Wealth Think

It is often said that when men plan, the gods laugh. Nowhere is this perhaps more true than when it comes to planning for retirement. While we all acknowledge the risk that finances can play on our retirement plans, the reality is that threats to our retirement plans can come from all areas of our lives.

Some people say social media for advisors is a waste of time. Not so for Cathy Curtis, of Curtis Financial Planning, now a division of ClearRock Capital, LLC. Curtis has social media use to thank for the merger.

Financial advisors have a bad reputation with women. Most feel slighted by the industry and see it as catering only to male wealth creators. They resent the assumption that women are disinterested in financial matters, are not good with money, and "should not worry their pretty heads about it." They are dissatisfied customers, who have real economic power. And they are unhappy that the financial services industry does not provide products and services to meet their needs

Are you the financial advisor who has been with the same broker-dealer for your entire career? You keep your head down, take great care of your clients and get along with everyone. Chances are, if you are this person, change doesn't come easy for you. You have habits that have been with you for years. There isn't anything wrong with having loyalty toward the people you love, family and friends. The issue often arises when you have that same loyalty toward an employer or firm you work with.

From New York and Chicago to London and Hong Kong, there are plenty of locations to launch a new financial firm. But where should aspiring entrepreneurs begin?

Most advisors are accustomed to the idea that, for the sake of growth and development, it's important to think of their practice as a business. But, many forget that this makes them the CEO and requires a particular mindset.

In light of looming changes in industry regulations and advances in current technology, advisors need to act now when it comes to making data and document management electronic, Timothy Welsh of Nexus Strategy, said at FPA Experience in San Antonio on Sunday.

With the financial crisis as the backdrop and the fiscal cliff and regulatory changes on the horizon, "you know that how you manage your practice is not going to get easier," said Bill Winterberg, of FPPad.com.

Ed Slott, Your IRA Expert, examines how often your clients can perform Roth conversions, how to hand Roth deferrals, and what happens to IRAs when a spouse dies.

Advisors need to help clients focus on their long-term plans by demonstrating the risks of short-term emotional decisions.