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Maintain vs Retain: Keep Clients by Borrowing a Page from E-Commerce

Advisors may be turning their thoughts towards maintaining their clients. While advisors and others in service industries focus on client maintenance, those in eCommerce focus on client retention. The difference between the two may provide some interesting insight into your client maintenance plans and point to where you might be able to improve.

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Beat Your Client’s Zoom Fatigue

Clients are, shall we say, tired of Zoom. How can you or other advisors on your team still produce effective client seminars? There’s no quick answer, but a few solid tips from professionals discussed below may help.

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What Else is New? Why Learning a New Skill Should Be At the Top of Your Marketing Plan

They say you can’t teach an old dog new tricks, but that might be because learning new tricks keeps your dog young. Here’s why you need to stretch your gray matter to stay on top of your client acquisition game.

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Ready, Set, GO GO GO! Talking to Clients about Post-Covid Spending and Travel

It’s worth revisiting the basics with clients now, as the urge to splurge on travel, or any other “normal” activity. But the thought of stepping out is hard to step away from. With the behavioral finance of planned splurges and the following information, you can have a productive conversation with your clients, even if they are cabin-feverish.

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Putting the “Ad” in “Advisor”

Advisors rejoice, because now testimonials can finally be used in their advertising. Here’s a summary of what changed, why you should do it, and how you can make the most of this new opportunity.

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The 411 on FINRA’s Rule 4111?

With the SEC and DOL potentially making new rules, don’t lose sight of new regulations from FINRA that could impact you. FINRA’s newer rules warrant caution and consultation with counsel.

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Community Service and Brand Growth: Three Ways Advisors Can Get Involved

Financial advising is all about cultivating trusting relationships. By giving back to their local community, advisors can demonstrate their investment in their neighborhoods and can even drive business.

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Mega Wedding Mega Bust: The Small Wedding Trend is Great for Investors

In 2020, the average cost of a wedding dropped by 33%, but couples still may have to choose between a traditional wedding and a traditional starter house. Advisors may want to read up on the small wedding trend to help with this large purchase.

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State and Local Legislation to Watch

When it comes to income, investing and saving for retirement, it isn’t only federal laws to keep an eye on. States may be creating new challenges and opportunities for investors as well. Here are a few we’ve noticed in the last year.

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Plop Plop Fizz Fizz: How to Help Clients During Market Bubbles

The current hot real estate market may not be a bubble, but it may feel like one to your clients. Advice for advisors on how to keep your clients on steady footing.

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Why You Need a Content Plan

Content plans (aka content calendars) will help your client communications stay organized, consistent, and on-brand. Here’s what they are and why you need one.

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When it Comes to Hiring, Focus on People Not Skills

Hiring outside the box can make your organization stronger and more appealing to a wider variety of clients. After all, advising isn’t just about asset management, it’s about trust and connecting with people first and foremost.

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How to Make Sure Advisor Achievements Stay Visible to the Boss and Client

For advisors working from home, how can they make sure poor communication isn't holding back their career advancement and client relationships by making their achievements invisible?

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Diversify Your Assets…and Advisors

Why do diversity and inclusion matter, and how do advisory firms go about creating and maintaining diverse, inclusive workspaces? It turns out that diversity policies aren’t the answer, but mentorship may be.

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Looking Ahead: What Could be On the Menu for Regulatory Agencies in the Biden Administration

It may be tough to pinpoint what the Biden administration’s regulatory aims are as to employment and retirement policy because of the current COVID crisis. A look at who the White House has named for leadership posts could help employers get an idea of what regulatory changes could be coming.

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How to Talk to Clients about Market Complexity

What do investors need right now, and how can advisors continue to build relationships and communicate effectively in a way that helps clients navigate the current economic whirlpool?

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What Clients Want to Know about the Vaccine’s Effect on the Market

It’s easy to believe that the coronavirus vaccines are going to quickly stabilize the economy, but that’s not quite true.

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Is That the Light at the End of the Tunnel or an Oncoming Train?

Like an M. Night Shyamalan movie, the last year has been filled with unexpected twists. Here’s how advisors can help explain to clients why we haven’t bounced back yet, and what signs of recovery to look for.

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Annuities and GenX – Why New Annuity Rules May Help the Hopeless Generation

Missed the major changes to Annuities Rules? Catch up Quick on how these rules could be beneficial the “hopeless generation”.

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Millennials, Gen Z, and Early Retirement

Young people want to retire early but tend to underestimate cost of living expenses that make this unlikely. What factors aren't they considering (that they should be), and how do FAs help them realistically save for early retirement?

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Is the doomsday clock still ticking on Social Security?

Social Security is primarily funded through payroll taxes; however, due to the significant layoffs caused by COVID-19, 10.7 million fewer workers are paying into social security, plus many others have had their hours cut. Taken together, this means that Social Security contributions have slowed down significantly.

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About that Roth IRA: Time to Talk About Tax-Advantaged Funds

How can advisors help walk their clients through a thicket of potentially globally changing financial circumstances? When it comes to circumstances that may hit client’s static budget items – like housing, transportation and taxes, advisors may be able to help clients position themselves now for potential problems later by discussing advantages, especially tax advantaged funds.

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Niching Outside of Your Area Code

Now that they’re unhindered by the constraints of physical proximity that may have formerly informed at least part of their decision making, advisors can market to a wider pool of investors and therefore be more discerning in their chosen clientele.

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Getting Gen Z: Updating Business Models to Get Young People Invested in Investing

TikTok, Snapchat, Instagram, oh my! Some advisors are turning to social media platforms that specialize in fast-paced content. However, these can pose compliance complications and advisors’ time may be better spent figuring out how to motivate their young clients to invest at all.

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Red Flag Relationships

They say there’s someone out there for everyone, but that doesn’t mean that you’re everyone’s someone. Here are a few signs that it might be time to move on from a client relationship.

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Authors

Beau Adams
Executive Vice President, BCG
John Correll
Client Relations Team Leader
Kevin Bonner
Regional Retirement Sales Director
Nina Wilkinson
Client Relations Manager
Robert Terry
Retirement Plan Sales Manager

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