Top Ways Financial Advisors Can Differentiate Themselves

Top Ways Financial Advisors Can Differentiate Themselves As the financial planning sector continues to evolve, consumers increasingly have more and more access to qualified advisors. Unfortunately, the evolution in financial planners is leading to a troubling counter-trend: as more people become financial planners, just being a financial planner will not differentiate you from other advisors. As a result, financial advisors are increasingly competing with each other. Continue reading “Top Ways Financial Advisors Can Differentiate Themselves” »

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Weekly Economic Update

Weekly Economic UpdateINFLATION TOOK A HOLIDAY IN AUGUST

Consumer prices fell 0.2% last month while producer prices stayed flat. Wall Street didn’t mind the dip in the Consumer Price Index – it saw less impetus for the Federal Reserve to alter its stance on interest rates. In its latest policy statement, the Fed reiterated its intent to keep the federal funds rate at a historically low level “for a considerable time after” it stops easing. The central bank is still on track to wrap up QE3 after its October policy meeting. Economists surveyed by MarketWatch expected no change in either the Consumer Price Index or the Producer Price Index for August.1,2 Continue reading “Weekly Economic Update” »

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Should Financial Advisors Embrace Yelp and Other Third-Party Review Websites?

Should Financial Advisors Embrace Yelp and Other Third-Party Review WebsitesIt is a common practice in the age of social media to consult with web-based review sites when choosing which restaurant to dine at or which hotel to book for a vacation. Reading what other customers had to say about their experiences with a particular establishment, both positive and negative, helps us make our own decisions. This method is right for almost every service sector – from electricians to dentists. Shouldn’t this same web-based review system be used to help people choose a financial advisor? Continue reading “Should Financial Advisors Embrace Yelp and Other Third-Party Review Websites?” »

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Weekly Economic Update

Summit Brokerage Services Weekly Economic UpdateSUMMER SPENDING SPREE LIFTS RETAIL SALES

They increased 0.6% in August, easing some anxieties about a possible slowdown in personal spending. Core retail sales (which exclude auto, gas, food, and home improvement purchases and more closely match the consumer spending aspect of GDP) improved 0.4% last month, and were up 4.1% year-over-year. The Commerce Department also revised July’s headline retail sales gain up to 0.3%.1 Continue reading “Weekly Economic Update” »

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Best Seminar Idea Ever for Financial Advisors: A Facebook Workshop

Best Seminar Idea Ever for Financial Advisors: A Facebook Workshop If you think social media is just for the young, think again. Senior citizens are now the fastest-growing users of social media. These days, they don’t just have an email account. They are searching on Google, browsing Facebook newsfeeds and watching YouTube — sometimes from their tablets. In fact, according to AARP, “the top four online activities for people over 60 are Google, Facebook, Yahoo and YouTube.” Continue reading “Best Seminar Idea Ever for Financial Advisors: A Facebook Workshop” »

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Financial Advisors – Creating the Perfect Website for your Practice

Creating the Perfect Website for your PracticeAlthough there is no exact formula to creating the perfect website for your financial practice, there are some common rules of thumb to increase your chances of designing a winning one.

As web design, user experience, SEO, conversion rate optimization, and many other disciplines become more unified, incorporating these elements to your site will contribute to its success. Continue reading “Financial Advisors – Creating the Perfect Website for your Practice” »

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What Should Financial Advisors Be Telling Their Clients About Medicare?

What Should Financial Advisors Be Telling Their Clients About MedicareMost likely, you are seeing your role as a financial advisor become more involved when it comes to healthcare planning. In terms of potential expenditures and the overall impact on the client’s financial well-being, the stakes are huge. According to Genworth’s 2013 Cost of Care Survey, the median annual cost of private nursing home care has jumped 24 percent, from $67,527 to $83,950. Major medical expenses like surgery can put a significant dent in any portfolio. Through it all, the financial risks for your clients continue to increase as the population lives longer and needs progressively more comprehensive levels of care. Continue reading “What Should Financial Advisors Be Telling Their Clients About Medicare?” »

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Weekly Economic Update

Summit Brokerage ServicesWALL STREET TAKES JOBS DATA IN STRIDE

In August, a notable hiring streak ended: for the first time since January, the economy failed to create 200,000 new jobs during a month. Investors were disappointed by the news from the Labor Department, but it came with a silver lining: the moderation in job gains may give the Federal Reserve a bit less incentive to adjust interest rates down the road. The jobless rate ticked down to 6.1% last month; the U-6 rate (underemployed & unemployed) declined from 12.2% to 12.0%. August also saw 0.2% wage growth.1 Continue reading “Weekly Economic Update” »

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What Makes a Winning Team for Financial Advisors?

What Makes a Winning Team for Financial AdvisorsBeing a successful financial advisor is not a solo sport. It requires a great team who can work together to achieve a common goal. With football season kicking off this month, now is as good a time as any to start thinking about teamwork. The question is: what makes a great team? A great team is about more than just the individual members on the field. Continue reading “What Makes a Winning Team for Financial Advisors?” »

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Net Promoter Score – The Most Important Client Feedback for Financial Advisors

The Most Important Client Feedback for Financial Advisors The inventors of the Net Promoter Score (NPS) – Fred Reichheld, Bain & Co. and Satmetrix – simplified defining business excellence by asking customers one simple question: How likely would they recommend your company to a friend or colleague based on a scale of 1-10?   Continue reading “Net Promoter Score – The Most Important Client Feedback for Financial Advisors” »

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