Posts by Rebecca Lake
Advisor Resources
How to Use Financial Aggregation Software for Your Clients
Clients may come to you with financial assets that are scattered across different bank accounts or investment accounts. Financial aggregation software brings all of your client’s money into view, enabling you to make more informed decisions when offering advice. Utilizing aggregation software can offer some advantages for both you and your clients, though there are… read more…
Advisor Resources
How to Keep Clients Motivated on Their Financial Journey
Lack of motivation can be a serious threat to client retention. You may have worked with your clients to identify their goals and the action steps they need to complete to achieve them, but if their heads—or hearts—aren’t in it, they may be less likely to remain your client for the long term. Understanding the… read more…
Advisor Resources
Independent RIA Conferences and Conventions for 2024 and 2025
Attending an RIA conference or convention is an opportunity to grow your professional network and expand your knowledge base. Working as an independent RIA can present some unique challenges and coming together with other advisors can prove valuable if you’re hoping to scale an existing firm or launch a new one. Keeping track of the… read more…
Advisor Resources
Client Referral Gift Ideas for Financial Advisors
Referrals are a sign of client trust and loyalty and can be integral to your business’s long-term growth. Encouraging client referrals begins with delivering top-notch service that exceeds expectations, but it doesn’t stop there. Offering gifts is a powerful way to incentivize clients to continue referring their friends, family members and coworkers to your firm.… read more…
Advisor Resources
Risk Tolerance Questionnaire Template to Give to Your Clients
Risk tolerance questionnaires can help advisors better understand what their clients need when developing a financial plan. Clients may complete this questionnaire during the onboarding process and the answers they provide can inform your decision-making when offering financial advice. Putting together a template that organizes risk tolerance questions by topic can make it easier to… read more…
Advisor Resources
Client Experience Survey Questions for Financial Advisors
Meeting client needs is central to your success as an advisor, as satisfied clients are more likely to stay loyal to you in the long term. Asking the right questions is an effective way to learn more about what they need or expect. A survey can help you gather valuable insight from clients on their… read more…
Advisor Resources
Sample Questions From the CFP Exam
Taking the CFP exam is just one of several requirements you’ll need to complete to become a certified financial planner. Taking a practice test can help you better prepare for the real thing. The best prep materials include CFP sample questions from past tests, along with questions that cover more recent updates to the exam… read more…
Advisor Resources
Course and Certification Options for Financial Planners
Professional certifications can give you a competitive edge as you grow your advisory business. There are a variety of credentials you might obtain, each of which has specific education and exam requirements. Deciding which financial planner course to take can depend largely on your career path and specialty. SmartAsset’s Advisor Marketing Platform can help you… read more…
Advisor Resources
Understanding IRC Section 212 and Advisor Expense Deductions
As an advisor, you might give clients tax advice but it’s also important to know how to handle your business’s tax filing. The Internal Revenue Code includes provisions that allow you to deduct certain expenses related to operating your business. Claiming deductions can help you reduce your taxable income for the year, though it’s important… read more…
Advisor Resources
7 Books That Can Help Prepare You to Take the CFP® Exam
To work as a certified financial planner, you’ll first need to complete the CFP® exam. Taking a CFP® exam prep can help you ready yourself, but you may also benefit from reading books about financial planning. If you’re looking for some CFP® books to add to your reading list, here are a few to consider.… read more…
Advisor Resources
When Can You Take the Series 65 Exam?
The Series 65 exam or Uniform Investment Adviser Examination is required if you plan to register with state securities agencies as an investment advisor representation. Series 65 exam dates are offered by appointment; this is also how exams for other FINRA licenses work. If you’re planning to obtain a Series 65 license, you’ll need to… read more…
Advisor Resources
What Is a Financial Solutions Advisor?
A financial solutions advisor helps clients, often affluent or high-net-worth investors, build their investment portfolios. These advisors work in a bank or wealth management setting as part of a larger financial services team, though some financial solutions advisors work independently. If you’re interested in this career path, knowing more about how this type of role… read more…
Advisor Resources
What Is Regulation Best Interest (Reg BI)?
In 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI), redefining standards of professional conduct for broker-dealers and associated persons. The standard, which falls under the Securities Exchange Act of 1934, requires broker-dealers to follow the best interests of their clients when recommending securities or investment strategies that involve securities. Adhering to this… read more…
Advisor Resources
How to Manage High-Net-Worth Clients to Keep Them
Working with high-net-worth clients can present some unique opportunities if you’re able to establish long-term relationships, garner more referrals and increase business revenue. Managing these types of clients requires specialized knowledge and understanding of the needs and concerns that wealthy investors often have. Knowing what to expect can help you to balance serving your high-net-worth… read more…
Advisor Resources
45 Questions Financial Advisors Ask
When you’re embarking on a new client relationship it’s important to set the right tone. That includes getting to know their needs and expectations better by asking the right questions and absorbing what they have to say. There are certain questions financial advisors ask that may be helpful to include as you sit down for… read more…
Advisor Resources
Guide to Strategic Portfolio Management for Your Advisory Firm
Building a successful—and sustainable—business often begins with developing systems that allow you to operate as efficiently as possible. Strategic portfolio management (SPM) encompasses various processes that financial advisors and other organizations can use to ensure that their actions align with their goals. Pursuing this type of approach can facilitate growth and allow you to better… read more…
Advisor Resources
What Are Reportable Securities for Financial Advisors?
The Securities and Exchange Commission (SEC) imposes certain rules on registered investment advisors governing ethical behavior. Rule 204A-1 of the Advisers Act outlines minimum standards for establishing an advisor code of ethics, including the treatment of reportable securities. Ensuring these standards are met is critical for remaining compliant with federal regulations. SmartAsset’s Advisor Marketing Platform… read more…
Advisor Resources
7 Personal Finance Influencers to Follow If You’re an Advisor
Personal finance influencers are becoming increasingly popular on social media as people seek out straightforward, practical financial advice. While many influencers cater to a consumer-facing audience, some offer tips and strategies that are directed toward financial services professionals. Getting to know some of the most impactful personal finance influencers can be a terrific way to… read more…
Advisor Resources
How to Analyze Market Sentiment Indicators to Grow Client Portfolios
Market sentiment can be integral in determining how stock prices move at any given time. Being able to gauge the mood of the market is a valuable skill, as it can allow you to make the most informed decisions possible when guiding client portfolios. A market sentiment indicator can help you conduct your analysis. SmartAsset’s… read more…
Advisor Resources
Where to Find Financial Planner Courses Online
Certified financial planners must meet continuing education (CE) requirements to maintain their certification. If you’re interested in completing financial planner courses online there are plenty of options to choose from. When comparing financial planning classes, it’s helpful to consider the format, the time commitment required, and what you’ll pay. SmartAsset’s Advisor Marketing Platform can help… read more…
Advisor Resources
How Advisors Can Run an Effective Discovery Meeting
Scheduling a discovery meeting with a prospective or new client is an opportunity to get to know them a little and establish the ground rules for your interactions going forward. Setting an agenda for the meeting can ensure that you’re covering the most important topics. You should also be prepared to ask the client some… read more…
Advisor Resources
Guide to Code of Ethics for Financial Advisors
Financial advisors are expected to uphold certain ethical standards when managing client finances and offering advice. Establishing and adhering to a code of ethics can allow you to build a more sustainable business if you’re able to foster trust and client loyalty. SmartAsset’s Advisor Marketing Platform can help you add new clients at your desired… read more…
Advisor Resources
How to Find a Remote Job as a CFP Financial Advisor
Becoming a certified financial planner (CFP) can open new career opportunities, including the possibility of remote work. While some firms that hire financial advisors prefer them to work in-house, others are comfortable allowing them to work virtually on a part-time or full-time basis. If you’re interested in CFP remote jobs, it helps to know where… read more…
Advisor Resources
Understanding Common Financial Advisor Regulations
Financial professionals are subject to regulation to ensure that they’re following industry standards at all times. Several organizations are responsible for establishing and enforcing financial advisor regulations in the U.S. If you’re interested in a career as an advisor, it’s important to understand the guidelines that you’re expected to adhere to. SmartAsset’s Advisor Marketing Platform can… read more…
Advisor Resources
Using a Risk Curve to Simplify Retirement Planning for Clients
Risk is an important consideration when helping clients shape their retirement plans to achieve the outcomes they desire. One tool you may rely on to help clients visualize potential outcomes is the risk curve. In simple terms, a risk curve illustrates the tradeoff between risk and reward. When used in a financial planning context, risk… read more…