“Weekend Content for New Financial Planners” is a collection of articles, podcasts, videos, etc. that I’ve been consuming regarding breaking into financial planning, industry trends, career development, and more. Thinking about financial planning similar to doctors practicing medicine: “Financial advisors obviously aren’t saving lives like doctors do. But financial problems are a leading cause of stress in our lives. And I have to wonder – if more financial advisors started thinking more like doctors would this actually reduce the financial stress that occurs for so many people? My guess is yes.” Should We Treat Financial Advisors More Like Doctors? (Cullen Roche, Pragmatic Capitalism) How sharing your story through social media content can…
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The Need For Financial Planning: Coronavirus Advice
“The Need for Financial Planning” covers financial planning topics and ties in data suggesting the opportunity for new and prospective advisors to improve America’s financial health. A tweet from Michael Kitces over the weekend about Northwestern Mutual’s latest survey caught my eye: 20% is a pretty significant chunk of these consumers looking for an advisor for the first time(!). The XY Planning Network‘s advisors seem poised to best service this new influx of prospective clients. They have built their fee-only compensation model (monthly retainer vs. AUM-only) to specifically serve these generations. And while experiencing huge growth since its launch in 2014 (30 members its first year), XYPN’s total advisor count…
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Traditional Financial Advisor Training Programs
Industry experts recommend getting with a firm committed to offering comprehensive financial planning and in positions where you don’t have to go out and immediately attract clients. However, expanding your search to include these traditional, broker-dealer firms will, of course, increase the odds of getting your start in the industry. These firms have historically been more transactions-based, rather than providing ongoing, comprehensive financial planning services. Links to a few of these programs with program details and FAQ pages: Merrill Lynch “Our Our Financial Advisor Development Program (FADP) is designed to develop the critical skills and knowledge necessary for building a successful wealth management business—acquiring clients, enhancing relationships, providing tailored strategies and more.…
