This was a good issue of Financial Advisor, as you’ll see, with a great opening article by (Insider’s Forum speaker) Philip Palaveev on the counterintuitive idea that it’s really unfair to treat all your employees equally. Deena Katz offers some tools for helping clients understand difficult investing and retirement distribution concepts, and Joel Bruckenstein profiles EverPlans, which may be the best estate/death planning resource on the market. Plus: I hope you won’t realize, as you read the Mark Hurley article, that you’re doing any of the dumb things he lists.
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I have to confess that I’ve never given Investment Advisor’s annual Separate Account Managers of the Year awards much credence, because I never saw Frontier Asset Management’s Gary Miller on the list. But this year they included him, and even gave him one of the highest awards, which suggests that maybe this is a credible exercise after all. Anyway, I highlighted it with a “high” relevance rating in case you’re interested in branching out into the separately managed space.
Otherwise, Mark Tibergien and Angie Herbers are the monthly highlights of the magazine, and they don’t disappoint here. Tibergien wonders whether you have the kind of relationship with custodians, software and other vendors which can compromise your independence—to recommend any solution the client may need regardless of other strings pulling you in other directions. And Herbers offers some steps to take before you start coming up with anything innovative at your advisory firm—that will make the innovations far more likely to improve your business life. [Read more »]
If you’re even mildly offended at the idea of ranking RIA firms based on their assets under management, then you might want to skip over the cover story in this month’s Financial Advisor issue, but you have to respect the fact that the magazine managed to get 562 firms to give very basic financial information. Alas, they did very little with that data except put everybody in order in some very long tables; the composite statistics would have been much more interesting if they could have been broken down by firm type, size or other metrics.
Meanwhile, check out the online firm that can give you a valuation for your advisory firm, or Joni Youngwirth’s framework for having a retirement discussion with your clients who are approaching that threshold. [Read more »]
Will the market lurch in the coming months? Here’s what to talk about with nervous clients and prospects. (Note: to see the charts and tables, download the July 2015 Inside Information PDF.) [Read more »]