4 Tips to Take Back Business From Robo-Advisors

 4 Tips for Financial Advisors to Lure Investors Away from Using Robo-Advisors

Financial Advisors over Robo AdvisorsAs discussed in the previously published Summit blog entitled “Humans vs. Robots: The Value of Using a Financial Advisor Over a Robo-Advisor,” the use of robo-advisors is becoming increasingly popular. Just to recap: a robo-advisor is an online wealth management/investment portfolio management service that provides users with algorithm-based, automated investment advice and recommendations without the use of human financial advisors. Robo-advisors offer negligible if any human interaction and instead offers portfolio management using computer models based on its user’s responses to its basic online goal and risk assessment tools and questionnaires. Continue reading 4 Tips to Take Back Business From Robo-Advisors

Client’s Nervous About Brexit?

Financial Planning Post-Brexit: How to Quell Clients’ Fears

Financial Planning Post-BrexitWhat is Brexit?

The term “Brexit”—a merging of the words “Britain” and exit”—is a shorthand way of referring to the United Kingdom (UK) leaving the European Union (EU). On June 23, 2016, a referendum was held and UK citizens headed to the polls to vote on just one question: “Should the United Kingdom remain a member of the European Union or leave the European Union?”[1] More than 30 million people voted and “Leave” won by 52% to 48%.[2] Prime Minister David Cameron, who had urged the country to vote Remain, announced his resignation following the vote’s results and will step down from his position in October. Continue reading Client’s Nervous About Brexit?

Humans vs. Robots: The Value of Using a Financial Advisor Over a Robo-Advisor

Why There is Much More Value in Using a Financial Advisor 

The Value of Using a Financial Advisor Over a Robo-AdvisorThe fear that robots will take over our human jobs is not a new and novel fear. At present day in the financial planning and investment industry, the use of robo-advisors is skyrocketing. A robo-advisor (sometimes called “robos” for short) is an online wealth management/investment portfolio management service that provides users with algorithm-based, automated investment advice and recommendations without the use of a human financial advisor. Robo-advisors offer negligible if any human interaction and instead offers portfolio management using computer models based on the user’s responses to its basic online goal and risk assessment tools and questionnaires. Continue reading Humans vs. Robots: The Value of Using a Financial Advisor Over a Robo-Advisor

How and Why Independent Financial Advisors Use Data Aggregation Technology

Financial Planning 2.0: Why Independent Financial Advisors Should Leverage Data Aggregation Technology

Independent Financial Advisors and Data Aggregation TechnologyIn a hypercompetitive industry where independent financial advisors and their client services offerings are becoming increasingly similar to each other, offering the status quo is no longer enough to establish and grow a thriving financial advisory practice. It no longer cuts it to be an independent financial advisor with years of experience, credentials, and glowing recommendations who develops customized financial plans for each of their clients. The present reality is that while all these things are great, they are no longer differentiators but rather just the mere baseline to get your foot in the very crowded door. Continue reading How and Why Independent Financial Advisors Use Data Aggregation Technology

Financial Planning Tips for College Students: Part II

Personal Finance 101: More Tips from a Financial Advisor for College Students

Tips from a Financial Advisor for College StudentsThe importance of college students learning and applying personal financial planning skills cannot be overstated. Today’s college students are attending school in turbulent financial times: we are just coming off the heels of the Great Recession of the late 2000s, and the cost of attending college is soaring while well-paying jobs for recent college graduates are scarce and extremely competitive to obtain. As any prudent financial advisor will tell you, college students need to develop their financial education and capabilities now and cannot just put it off for when they are released into the “real world.” A college student’s personal financial education should focus on improving their financial knowledge, developing money management skills, and increasing confidence about financial decision-making and fiscal responsibilities. Continue reading Financial Planning Tips for College Students: Part II

Financial Planning Tips for College Students

Get Smart! Financial Planning Tips for College Students

Financial Planning Tips for College StudentsHere on the Summit Brokerage Blog, we previously published a blog entitled “Financial Planning Tips for High School Students Considering College.” Now it’s time to discuss financial planning tips for students who are about to begin college or who already are college students. A student’s college years are ripe for real-time learning experiences about financial planning; but real-life experience can be the toughest of teachers. Given the importance of this topic as well as the profusion of financial planning tips relevant and helpful for college student, we’ve split this topic into a two-part blog series. The instant blog will discuss creating a budget, smart credit card usage, and graduating early to save money. The upcoming second blog is entitled, “More Tips from a Financial Advisor for College Students and Smart Money Management” and will cover financial planning tips concerning college meal plans, college housing, and saving money on textbooks. Continue reading Financial Planning Tips for College Students

Financial Planning Tips for High School Students Considering College

Financial Planning Advice for the High School Student Entering College

Financial Planning Tips for High School Students Considering CollegeThe previously published Summit blog entitled “Kids and Money: Tips for Teaching Your Children about Financial Planning” emphasized that successful financial planning should be a family affair. It’s no longer bad manners to talk about money with your kids; but rather, financially responsible families regularly discuss money and implore a strong sense of financial literacy within their children. If you have a financial planner or independent financial advisor, make sure that they share in your belief that financial planning is a family affair. Your financial advisor should create a solid financial plan rooted in your family’s shared financial priorities and expectations in order to help your family achieve its financial goals. Continue reading Financial Planning Tips for High School Students Considering College

Kids and Money: Tips for Teaching Your Children about Financial Planning

Teaching Financial Planning to Your Children

Teaching Your Children about Financial PlanningSuccessful financial planning should be a family affair; as such, you should work with your financial investment advisor and financial planner to create a sound financial plan that is rooted in your family’s shared financial priorities and expectations and builds a sold foundation for a family to achieve their financial goals together. To come out on top when it comes to the often precarious mix of finances and family, it is essential to communicate openly about issues and educate your children (in an age-appropriate manner) about financial issues. Continue reading Kids and Money: Tips for Teaching Your Children about Financial Planning

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 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 Financial Planning Tips for the Sandwich Generation

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