Six Steps to Make Your Advisory Firm Human Again

Research shows that when choosing a professional to do business with people first evaluate that person’s trustworthiness and how approachable they are.

Why did your top clients choose to work with you, instead of a competitor down the road? Is it because of your one-of-a-kind investment model, client service technology, or the prestige of your firm’s brand? What is more likely is that they found you to be trustworthy and approachable. Research from Photofeeler, an online photo evaluation tool, shows that when choosing a professional to do business with people first evaluate …

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New Data Shows Growing Financial Advisor Shortage

New information shows that several factors are expected to cause a serious financial advisor shortage in the next decade if nothing changes.

A new report by CareerCast.com on the 10 toughest jobs to fill in 2017 reveals that financial advisor positions are the second hardest role to hire for, just behind data scientists. The report is based on Bureau of Labor Statistics (BLS) data as well as hiring trends over the last decade and job listings waiting to be filled. The report forecasts growth of the financial planning industry of 30% by …

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How Will Estate Planning Change if the Death Tax is Eliminated?

Although 99.8% of Americans will never pay the estate tax and it accounts for less than 1% of total federal tax revenue, many have strong opinions about its existence.

There are few taxes that incite such heated debates as the ‘death tax’ or the estate tax imposed on the assets of a deceased person before the estate is transferred to heirs. Although 99.8% of Americans will never pay the estate tax and it accounts for less than 1% of total federal tax revenue, many have strong opinions about it’s existence. And the future of the estate tax is a …

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Marketing Strategies to Calm Client Anxieties

During last year’s market volatility, did you get nervous calls from clients wondering what they should do? If you’re like most advisors, you know that market declines are a normal part of investing. But for clients, especially those close to retirement, market downturns can be uncomfortable or even scary. We do know that market corrections are a predictable part of life. In fact, a 10% correction has happened on average …

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Embracing The PESO Model for Marketing Success (Part 5)

Advisors can build share of mind and generate leads with a good website and content marketing plan.

If you have been reading my ongoing series about the PESO Model on GuideVine over the past year, you already know the “O” in the PESO marketing model stands for “owned.” But given how much of our existence today is mobile/digital and web-enabled, it could also stand for “online.” While other elements that fall into the “owned category” (primarily, your printed and digital brand identity/collateral items and the original content …

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Should You Adopt a Robo-Advisor Platform in Your Advisory Firm?

As the services of robo and human advisors converge, many human advisors are partnering with robos to serve smaller accounts.

We’ve all been hearing about the competitive threat from robo-advisors for years. Many experts warned that human advisors would soon be put out of business by robo-advisors with lower fees and automated investing. While a typical financial advisor may charge 1 percent or more to manage an account, a robo-advisor may charge between 0.25 and 0.5 percent. The first robo-advisors came to the market in 2008, but didn’t enjoy widespread attention …

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How Much Should Advisors Spend on Marketing?

By setting a deliberate marketing budget, you can better track expenses, evaluate results, and grow your firm. Here's how to get started.

How much do you plan to spend on your firm’s marketing in 2017? What percentage of total revenue does that number represent? If you’re like many advisors, you don’t have a planned marketing budget and aren’t sure if you’re spending too much or too little. By setting a deliberate budget toward your marketing plan, you can better track expenses, evaluate results, and grow your firm. How Much Do Financial Advisors …

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Embracing The PESO Model for Marketing Success (Part 4)

Financial advisors who share highly relevant content with their social media networks enhance their brand, boost credibility, and attract new clients.

The PESO Model (paid, earned, shared and owned) is a great way to “bucket” out any marketing plan. In my last installment, we discussed “earned” media, such as being quoted in an article, having a piece you wrote published in a newspaper, appearing on a television or radio show, or being featured in the press in some other way. We’ve also already discussed the “paid” category, also known as advertising. Paid …

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How to Create an Outstanding Online Presence

Want to learn how to create an incredible online presence as an advisor? GuideVine CEO Raghav Sharma discusses what is necessary to succeed.

Raghav Sharma on Creating an Outstanding Online Presence. This originally appeared on the Becoming Referable podcast by Stephen Wershing and Julie Littlechild, and can be found here.   Steve Wershing: Welcome to Becoming Referable, the podcast that shows you how to become the kind of advisor your clients want to tell other people about. I’m Steve Wershing. On this episode, we will be talking with Raghav Sharma, who is President of GuideVine, …

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Do You Have Referral Partners You Can Count On?

Most financial advisors understand the importance of strong referral partners. In fact, in a 2014 study, the Financial Planning Association identified center of influence referrals as the top tactic successful advisors use to grow their business. But how can advisors know whether they are making the most of their referral partners? How many referral partners should financial advisors seek? And how often should they expect referrals from their top center …

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