Envestnet Practice Management Series
Behavioral Finance and Building Your Fiduciary Brand
Several hundred thousand individuals offer financial advice in the U.S. – as planners, registered reps, accountants, attorneys and insurance representatives. If prospects are overwhelmed by the number of choices, then it is up to you to simplify decision-making for them. Reduce the number of options they perceive. One way to do that is to create a sense of trust from the beginning, supported by your message of fiduciary responsibility and to establish your brand around it. »»
Strengthen Trust, Grow Your Business: Make Sure Clients Know the Scope of Your Responsibility to Them
A client or prospect might read every word of the New York Times and the Wall Street Journal. Or he might catch barely two minutes of news on the car radio. Either way, the onslaught of news about financial reform is creating a chance to strengthen client trust and the relationship in general. Take advantage of the heightened awareness, and communicate your responsibilities as an advisor. »»
Increased Scrutiny Leads to Greater Financial Oversight And the Opportunity to Strengthen Client Relationships
Voices demanding reform are coming from many sources, including many in the financial services industry itself. Americans are speaking up in other ways. Polls and primaries are telling the story that voters are fed up with their current legislators, opening the door for new candidates in the fall elections. The pressure is on. »»
Understanding and Managing the Sequence of Returns Can Help Meet Retirement Goals
Modern portfolio theory recognizes that, although over long periods of time stocks increase in price, shorter time periods are unpredictable and often negative. So, individuals who are looking at holding a stock portfolio during retirement... »»
Is Your Fiduciary Standard a Core Value? Do Clients and Prospects Understand Why It Matters?
Set yourself apart. You will gain a competitive advantage if the fiduciary standard is a core value and you take the initiative to make sure clients understand why it is important. This white paper suggests ways you can communicate your fiduciary commitment to prospects and clients. »»
The New Fiduciary Standard: Still Pending in Congress, But You Can Move Forward Now
Among many issues addressed in House and Senate versions, proposed regulations would end the banks "too big to fail" status and create a Consumer Financial Protection Agency. And ... there is a special section in each pending bill that is just for you, the financial advisor. »»
Incorporating Behavioral Finance Into Your Practice
Whether driven by "irrational exuberance" or deep disappointment, extreme markets create extreme reactions. Now, spurred by the economic crisis that began in late 2008 - financial advisors and their colleagues in allied fields are making a serious review of the emotions that drove clients to sell, or, with luck, to resist their emotional reactions and stay the course in the recent highly volatile market. »»
Investing (including mutual funds and ETFs) carries risk, including the loss of principal, and there can be no assurance that any investment strategy will provide positive performance over a period of time. The asset classes and /or investment strategies described above may not be suitable for all investors. Investors should first consult with an investment advisor before investing. Investment decisions should be made based on the investor’s specific financial needs and objectives, goals, time horizon, tax liability and risk tolerance. When investing in managed accounts and wrap accounts, there may be additional fees and expenses added onto the fees of the underlying investment products. For a complete description of all fees, costs and expenses, please refer to the sponsor’s ADV Part II or Schedule H as applicable. Past performance is no guarantee of future results. Neither Envestnet, PMC nor its representatives render tax, accounting or legal advice.
