There are three tactical strategies that advisors should keep in mind when working with high-net-worth clients, writes Matthew Sommer of Janus Henderson Investors. Research shows wealthy retirees are not spending as much as they should be, are frequently the target of financial exploitation and may be missing out on global dividend opportunities, he writes.
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The Financial Industry Regulatory Authority has issued a budget that for the sixth consecutive year doesn't raise fees for members, raising concerns the regulator is increasing reliance on fines to generate revenue.
The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America's Surface Transportation Act of 2015.
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Prospects sometimes lie, but that may be because they are trying to be nice or don't know how to appropriately answer a question, writes John Pojeta of The PT Services Group. To get to the truth, he suggests financial advisors push for specifics and frame conversations in ways that make it difficult to avoid the truth.
Advisors need to be proactive to attract and retain female clients, says Nalika Nanayakkara of EY, who notes widows often change financial advisors after their spouse passes away. Goals-based planning is more valued by women, Nanayakkara suggests, adding that this type of planning helps advisors develop relationships and boost retention.
A social media experiment showed sales coach Dan Solin how important it is to diversify his social media efforts. He found that his video blogs and short comments received much more attention than written blog posts, but notes that high-quality articles give an advisor credibility.
Strategists say the Federal Reserve's switch to accommodation is the main reason the US stock market continues to climb, despite concerns about an economic slowdown and a decline in corporate earnings. JPMorgan Chase strategist Marko Kolanovic calls the switch "an enormous shift in monetary policy" and says "it is clear that the dovish turn is here to stay, and this should be a sustained tail wind for risky assets."
FSI has partnered with Bill Bachrach to bring our members a robust online virtual training platform packed with interactive training courses, videos, scripts, demonstrations and high-value resources to help you master the communication skills and repeatable processes that are crucial to acquiring and serving ideal clients. FSI members receive a $350 discount off the annual retail price offered to nonmembers. Learn more about this offer.
I had a running compiler and nobody would touch it because, they carefully told me, computers could only do arithmetic; they could not do programs.
Rear Adm. Grace Murray Hopper, developer of the first compiler for a computer programming language
March is Women's History Month
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