Financial Planning Terms: What is a Center of Influence (“COI”)?

What exactly is a Center of Influence (COI)? Summit Explains this Important Financial Planning Term:

Financial Planning TermsAs an independent financial advisor in the hyper-competitive financial planning industry, you reap what you sow. It’s a dog-eat-dog world out there, and if you’re not intensely focused on growing your practice and expanding your client base then you’re already lagging behind. As discussed in a previously published Summit Brokerage blog, independent financial advisors—at least the successful ones of the massive pack—must be entrepreneurs. Continue reading

Posted in Financial Advisors, Financial Planning | Tagged , | Comments Off on Financial Planning Terms: What is a Center of Influence (“COI”)?

Financial Planning Tips for the Sandwich Generation

The “Sandwich Generation” Can Focus More on Financial Planning With These Tips

Financial Planning Tips for the Sandwich GenerationHave you ever heard the term “Sandwich Generation” or its short-form “SandGen”? Here’s a hint: it has nothing to do with hoagies, submarines, or even artisanal paninis made with gluten-free tapioca bread. In a financial planning context, the sandwich generation refers to adults who are not only responsible for their own financial needs but also the financial care and support of both their elderly parents and dependent children (dependent children can mean either children under the age of 18 or grown children who rely on their parents’ financial support). Typically, adults who belong to the sandwich generation span in age from mid-30s to 60s. Continue reading

Posted in Financial Planning | Tagged , | Comments Off on Financial Planning Tips for the Sandwich Generation

National Retirement Planning Week: Common Retirement Planning Mistakes

Common Retirement Planning Mistakes to Avoid

Common Retirement Planning MistakesNational Retirement Planning Week® 2016 recently took place from April 11 to 15 as part of a national effort to help people focus on their financial needs in retirement. Even though National Retirement Planning Week® 2016 as well as the month of April (which the U.S. has officially declared as “National Financial Literacy Month”) has come and gone, that’s no excuse to put the brakes on thinking about (and acting on!) your retirement planning and financial planning needs. Continue reading

Posted in Financial Planning, Financial Retirement Planning | Tagged , | Comments Off on National Retirement Planning Week: Common Retirement Planning Mistakes

What is a Hybrid RIA?

What exactly is a hybrid RIA and why should an advisor want to become one?

Hybrid RIAHybrids seem to be all the rage these days. And I’m not talking about the fleet of hybrid Toyota Priuses[1] outside your local Whole Foods or the pluots (plum crossed with apricot) or rabbage (cabbage crossed with radish) inside the trendy produce section. One of the most buzzed about hybrids actually comes from the advisory sector of the financial industry: the hybrid RIA (registered investment advisor). Continue reading

Posted in Financial Advisors, Hybrid RIA | Tagged , | Comments Off on What is a Hybrid RIA?

Be Your Own Boss: Independent Financial Advisors are Entrepreneurs

Why Independent Financial Advisors are Making the Entrepreneurial Transition

Independent Financial Advisors are EntrepreneursAs discussed in the previously published Summit Brokerage blog, “Wirehouse vs. Independent Broker Dealer Firms: What’s the Difference?”, many financial planners and advisors have been turned off from the big-name wirehouse firms; and as such, have been consistently making the entrepreneurial transition to working as independent financial advisors. Continue reading

Posted in Financial Advisors | Tagged , | Comments Off on Be Your Own Boss: Independent Financial Advisors are Entrepreneurs

The Importance of Giving Back to Your Community

Philanthropy and Financial Advisors: The Importance of Giving Back to Your Community

Philanthropy and Financial AdvisorsWhile it’s a myth that financial advisors are only for the wealthy[1], it is true that hiring a financial advisor to assist with one’s financial planning needs is a luxury that many people cannot afford. That’s why all financial advisors should strongly consider giving back to their community. Keep in mind that not only is volunteering your time a noble endeavor but also it could ultimately lead to referrals and community recognition that may help you expand your practice. Continue reading

Posted in Client Relationship Management, Financial Advisors | Tagged , | Comments Off on The Importance of Giving Back to Your Community

New Fiduciary Rule Most Significant Change to Retirement Planning in Decades

New Fiduciary Rule Just Announced: How the Fiduciary Rule Works and How It Will Affect Independent Financial Advisors

Fiduciary RuleExtra! Extra! Hot off the press: six years in the making, after seemingly endless criticisms, concessions, and then ultimately a series of compromises, on Wednesday, April 6, 2016, the U.S. Department of Labor announced a new rule that will change the way the financial industry can give out retirement advice. This long-awaited rule is known as the “fiduciary rule”, or as it called in some circles: “the conflict of interest rule”[1]. This new fiduciary rule is monumental, with many calling it the most significant change to retirement planning in decades; after all, the Obama Administration is trying to set up the strongest consumer protections in American history, not only with the introduction of this new fiduciary rule but also with stronger, more pro-consumer rules regarding credit cards, student loans, and mortgages. Continue reading

Posted in Financial Retirement Planning, Independent Financial Advisor News | Tagged , , | Comments Off on New Fiduciary Rule Most Significant Change to Retirement Planning in Decades

How to Create Your Firm’s Introductory Packet – Tips for Financial Advisors

Tips for Independent Financial Advisors: Creating Your Firm’s Introductory Packet

Tips for Financial AdvisorsIn the hyper-competitive, often supersaturated world of financial advisors, complacency is unacceptable. If your goal as an independent financial advisor affiliated with an independent broker dealer firm is to establish and grow your financial advisory business, you must be committed to both maintaining your current client base as well as always trying to recruit new clients. To grow your client base, you should always be networking (there’s even an acronym for the concept—“ABN”). And when it comes to networking and meeting with potential clients and centers of influence (COIs), first impressions are everything. What do you think will make you stand out from other financial advisors and appear more professional in the minds of a potential new client or COI: a basic business card or your firm’s introductory packet for prospective clients? Continue reading

Posted in Financial Advisors | Tagged , | Comments Off on How to Create Your Firm’s Introductory Packet – Tips for Financial Advisors

Wirehouse vs. Independent Broker Dealer Firms: What’s the Difference?

Is there that big of a difference between wirehouse and independent broker dealer firms?

Independent Broker Dealer FirmsAs discussed in a previously published Summit Brokerage blog, “In the consumer services sector of the financial planning industry, consumers are presented with not only a confusing array of specialized terminology and options but also a broad spectrum of different types of financial professionals.” This previously published Summit blog discusses the difference between financial advisors and financial planners. The instant blog covers another common point of confusion within the industry: the difference between wirehouse firms and independent broker dealer firms. Continue reading

Posted in Independent Broker-Dealer News | Tagged , | Comments Off on Wirehouse vs. Independent Broker Dealer Firms: What’s the Difference?

Summit Brokerage Services Voted as the Highest Advisor-Rated Independent Broker Dealer

Advisors Vote Summit as the Top Rated Independent Broker-Dealer in its Category for the Second Time.

Independent Broker DealerBoca Raton, Florida, March 9, 2016 –  Summit Brokerage Services Inc., a top ranked broker-dealer, is proud to announce that it has been voted as the overall highest-rated independent broker dealer among firms with less than 1,000 financial advisors by WealthManagement.com’s 2016 Independent Broker-Dealer Report Card. Continue reading

Posted in Independent Broker-Dealer News, Summit Brokerage News | Tagged | Comments Off on Summit Brokerage Services Voted as the Highest Advisor-Rated Independent Broker Dealer
Summit Brokerage
Page 1 of 4012345...102030...Last »