Financial Planning Articles

Financial Planning Articles (September 23, 2018)

“Financial Planning Articles” is a collection of articles and research that I’ve been reading regarding financial planning.

What I’m Reading:

Personal/Career Development

The Four Skill Domains For Financial Advisor Mastery (Michael Kitces,

“Given these dynamics, it appears that ultimately there are four domains in which financial advisors may seek to improve their skills to advance their careers: competency (technical), empathy (relationships), sales (business development), and management (business execution).”

How to Email Someone You Haven’t Talked to in Forever (Rebecca Zucker, Harvard Business Review)

“However, over the years, we often lose touch with people in our network as work, family, and other demands fill our limited time. As if reaching out to ask for help wasn’t hard enough, what do you do when the person whose help you need is someone you haven’t spoken to in over a decade?'”

Practice Management

Advisors Boost Efficiency at Their Firm By Hiring Paraplanners (Morey Stettner, Investors Business Daily)

“For a lot of veteran planners, hiring a junior planner is a big leap,” said Matt Fizell, a virtual paraplanner in Madison, Wis. Outsourcing administrative tasks to a paraplanner is less of a commitment.”

Planning Profession

Competition For Talent and The Rising Shortage of Next-Generation Financial Advisors (Michael Kitces,

“…the past two decades of a rising movement of independent advisors amongst both the independent broker-dealer and independent RIA channels has drastically reduced incentives for firms to develop their own talent. Creating a prospective next-generation talent shortage at the exact moment it’s needed most.”

Client Trust and Communication

Ex-FBI Agent: How to Decode Your Clients’ Body Language (Jane Wollman Rusoff, ThinkAdvisor)

“Body language gives outright cues and clues to how clients feel about their financial advisors and what they’re saying. At the same time, FAs can cast themselves in the most favorable light by deliberately employing certain nonverbal behaviors. Other body language may sabotage an advisor, however.”

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