Study: Advisers aren't following their own planning advice | 3 ways to increase adviser independence, satisfaction | Common digital marketing mistakes advisers should avoid
May 1, 2018
FPA SmartBrief
A digest of news and industry updates for the financial planning community
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Study: Advisers aren't following their own planning advice
Only about one-quarter of financial advisers have a formal succession plan, even though advisers as a whole regularly remind clients of the importance of this type of planning. A recent survey by FPA and Janus Henderson identified four challenges to succession planning -- strategic, personal, structural and mechanical -- and offered ways to overcome the obstacles.
Journal of Financial Planning online (4/26) 
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Is a market downturn overdue?
Markets can shift in an instant, but you can still prepare for a downturn. See what you can learn from the history of market cycles. Use our Downturn Defense guide to see how to help protect your clients.
Practice Management
3 ways to increase adviser independence, satisfaction
Advisers who produce more than $1 million annually are the least satisfied in their jobs, finds a survey by J.D. Power. Donna Bristow of Broadridge Financial Solutions writes that this dissatisfaction is tied to trends that are decreasing advisers' sense of independence, and she offers three suggestions to improve adviser satisfaction.
InvestmentNews (tiered subscription model) (4/26) 
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Common digital marketing mistakes advisers should avoid
Many advisers waste time and money on digital marketing efforts that do not lead to results, writes James Barnash of SmartAsset. He looks at common mistakes advisers make, including publishing inferior content, neglecting to measure return on investment and ignoring their digital reputation.
Financial Planning online (4/26) 
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Policy Watch
SEC's Clayton: RIAs don't have to be free of conflicts of interest
SEC's Clayton: RIAs don't have to be free of conflicts of interest
Clayton (Justin Sullivan/Getty Images)
Securities and Exchange Commission Chairman Jay Clayton told a House subcommittee that he wants to end "confusion in the marketplace" over the duties of registered investment advisers. "[I]t misstates the law and could mislead investors to suggest that investors currently have a legal right to conflict-free advice from an investment adviser," he said.
Financial Advisor online/Bloomberg (4/26) 
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Senate bill advances GAO's retirement recommendations
Sens. Todd Young, R-Ind., and Cory Booker, D-N.J., have introduced legislation to establish a national advisory commission on improving private retirement programs. The bill would implement recommendations made in a 2017 report from the Government Accountability Office.
InvestmentNews (tiered subscription model) (4/27) 
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Industry Report
Report: Every robo adviser taxable portfolio saw losses in Q1
All 28 robo adviser taxable portfolios tracked by The Robo Report lost money in the first quarter, with losses ranging from 0.14% to 1.55%. Robo retirement accounts did slightly better, with results ranging from a gain of 0.77% to a loss of 1.43% for the quarter, according to the report.
WealthManagement (4/25) 
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401(k) plans at risk of data breaches
Assets in 401(k) plans are increasingly at risk of being a target for hackers, but many companies and plan participants are unprepared, writes Amanda Eisenberg. Experts say companies should address their vulnerability by educating employees about the signs of a phishing attack and communicating with plan sponsors about security measures.
Employee Benefit Adviser (free registration) (4/26) 
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Millennials want more than tech from their advisers
Better communication and a hands-on approach from advisers are more important to millennials than technology, a J.D. Power survey indicates. Advisers should focus on making millennials feel as though they are part of a team working toward meeting their financial goals, experts say.
InsuranceNewsNet online (4/27) 
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FPA News
The FPA Spring Membership Drive is here!
Our primary objective is to elevate the profession that transforms lives through the power of financial planning, and to help us take on that challenge, we need members like you. During the month of May, we're offering $200 off your membership dues, plus a FREE gift! Join your professional home today by visiting and using promo code MAY18. Hurry -- this offer only lasts through May 31! Join here.
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Let your voice be heard at the 5th Annual FPA Advocacy Day in Washington, D.C.!
Are you passionate about financial planning? Do you want to help educate federal policymakers about the profession and the important role financial planners play in the lives of their clients? If so, register now to take part in the 5th Annual FPA Advocacy Day in Washington, D.C. on June 6-7. This is your time to meet with those who have influence over your profession. Let YOUR voice be heard! Register today and also take part in a special half-day symposium on succeeding under a fiduciary standard.
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The Financial Planning Association® (FPA®) is the largest membership organization for CFP® professionals in the U.S. and also includes members who support the financial planning process. Working in alliance with academic leaders, legislative and regulatory bodies, financial services firms and consumer interest organizations, FPA helps connect all in our membership through a variety of unique and compelling ways. Learn more at
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