Category: Practice Management

A Hybrid Approach to Long-Term Care Insurance

Emerging from the implosion of the LTC insurance marketplace and amid a pressing need to protect against this significant potential financial risk, financial advisors have increasingly looked to LTC riders on life insurance or annuity policies to help their clients address this critical financial challenge

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Roth IRA for Children: Asset Retention Strategy

Asset leakage is a serious long-term danger to many advisory practices since the inheritors often do not stay with the financial advisor. By working with clients today to open a Roth IRA for their minor children, you lay the groundwork to establish relationships with the future heirs of your clients’ wealth during their most formative years.

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Getting Virtual Meetings Right

Virtual meetings are here to stay, so whether you are holding them with your staff, clients, outside money managers, service vendors or presenting a webinar to prospects, it’s important that you find a way to connect with your audience and convey the professionalism and trustworthiness critical to clients and other business relationships.

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Five-Steps to Continue Generational Wealth

When it comes to managing generational wealth, your advisory practice is probably the last place your clients’ children would consider for managing the money they inherit from their parents.  It may be tough to hear, but it’s true. A newer generation of investors is gravitating toward platforms like Robinhood or one of the many available robo-advisor services.

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Second-Opinion Financial Advice

Product line extension is a tried-and-true approach for leveraging an existing infrastructure, brand and capability set into new revenue generation. As financial advisors prepare for a future of tightening margins amid greater competition, offering individuals a second opinion on their current financial plan and investment strategy may be one attractive new business development opportunity to consider.

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