Financial Planning Tips: The Importance of Having Good Credit

Why Having Good Credit is So Important: Financial Planning Tips from the Experts

Financial Planning Tips The Importance of Having Good CreditThere’s a little three-digit number that is of absolute crucial importance and can have long-reaching effects for the rest of your life. And nope, we’re not talking about your weight, your IQ, your total cholesterol level, your SAT Verbal score, or even your number of Facebook friends. But rather, we are referring to your credit score: a three-digit number that can impact many facets of your life. As discussed in the previously published Summit blog entitled “Financial Planning Tips: What is a Credit Score and How is It Calculated?”, a credit score is a three-digit number derived from detailed information from your credit history that summarizes your credit risk—in other words, it helps lenders analyze how likely you are to pay back your credit obligations as agreed upon. When it comes to financial planning and your financial well being, the importance of having good credit cannot be understated. Here are just four of the reasons why having good credit is so important: Continue reading Financial Planning Tips: The Importance of Having Good Credit

Financial Planning Tips: Credit Score Explained

Financial Planning Tips: What is a Credit Score and How is It Calculated?

credit score financial planning tipsYour credit score is a three-digit number derived from detailed information from your credit history that summarizes your credit risk—in other words, it helps lenders analyze how likely you are to pay back your credit obligations as agreed upon. For financial planning purposes, understanding what your credit score is, how it is calculated, and how you can improve it are essential. After all, your credit score can have a massive impact on financial planning, your financial options, and current and future financial livelihood. Continue reading Financial Planning Tips: Credit Score Explained

2016 Conference Saw Record Attendence

Summit LogoSummit Brokerage Services Announces Record Attendance for 2016 Conference

Boca Raton, FL – Summit Brokerage Services, Inc. the Highest Rated Independent Broker-Dealer in the Country**, successfully completed the 2016 National Conference at the Boca Raton Resort & Club, September 7-10, 2016, with another record attendance. Continue reading 2016 Conference Saw Record Attendence

Protecting Yourself from Popular Financial Advisor Scams

Popular Financial Advisor Scams and How to Protect Yourself from Them

Financial Advisor ScamsAs discussed in the previously published Summit blog entitled “3 Warning Signs It’s Time to Fire Your Financial Advisor (Part 1 of 2)”, while most financial advisors are trustworthy and committed to the best interests of their clients there are unfortunately also some bad apples in the financial planning industry. University of Chicago finance professor and past American Financial Association (“AFA”) president, Luigi Zingales, bluntly stated in his 2015 AFA presidential address: “I fear that in the financial sector fraud has become a feature and not a bug.”[1] Continue reading Protecting Yourself from Popular Financial Advisor Scams

Seeking Millennial Clientele

How Financial Advisors Can Attract Younger Clients from the Millennial Generation

Financial AdvisorsMillennials are being recruited by almost every type of business. As a financial advisor, you should follow suit and actively seek out younger clients in order to grow your practice by taking advantage of a demographic group who is largely not seeking out professional financial advice but could most definitely benefit from it. Continue reading Seeking Millennial Clientele

Is It Time For a New Financial Advisor? Additional Warning Signs

Additional Signs It’s Time to Fire Your Financial Advisor (Part 2 of 2)

Additional Signs It’s Time to Fire Your Financial AdvisorIn the previously published Summit blog entitled “3 Signs It’s Time to Fire Your Financial Advisor (Part 1 of 2)”, we discussed three red flags which likely indicate that you need to break up with your current financial advisor and find a new one. These three red flags were: Continue reading Is It Time For a New Financial Advisor? Additional Warning Signs

3 Signs That It’s Time for a new Financial Advisor

3 Warning Signs That It’s Time to Fire Your Financial Advisor (Part 1 of 2)

But ooh, this time I’m telling you, I’m telling you

We are never ever ever getting back together,

We are never ever ever getting back together. —Taylor Swift[1]

Financial AdvisorBreaking up is hard to do: it doesn’t matter whether it’s your first break up or your twentieth; if you’re the breaker-upper or the break-up-ee; or if you delivered the proverbial axe via a formal, certified letter, a middle-of-the-night “please don’t pick up! please don’t pick up!” voicemail, or an emoji-filled text message. Most of us have been privy to the rite-of-passage that is a romantic break up, but have you ever had to break up with your financial advisor? After all, your financial advisor is the trained professional you both trusted with your money and confided highly personal and intimate details about your personal, family, and financial life. For many, talking openly about money is a very private and emotionally charged topic that requires letting your guard down. Once you let someone in, it can be stressful to have to start the sensitive financial planning process all over again with a new person—but you absolutely can’t use that as an excuse for staying with the wrong financial advisor. Just because you’ve been working with a particular financial advisor for a significant amount of time or because he or she comes highly recommended or is part of your social circle or professional network, doesn’t mean that you have to continue the client-advisor relationship with your financial advisor. There are many times when staying in the client-advisor relationship is potentially harmful and counterproductive to your financial goals; and accordingly, it’s in your best interests to end the relationship and find a new financial advisor. Here are some “red flags” that it’s time to break up with your current financial advisor: Continue reading 3 Signs That It’s Time for a new Financial Advisor

2016 National Conference Agenda Announced

Summit Brokerage Services, Announces Agenda and Theme for its 2016 Conference

Summit Brokerage ServiceBoca Raton, FL, August 16, 2016 – Summit Brokerage Services, Inc. one of the Highest Rated Independent Broker-Dealer in the Country*, announced today the agenda and theme for its 2016 National Conference at the Boca Raton Resort & Club, September 8-10, 2016. Continue reading 2016 National Conference Agenda Announced

Remote Financial Advisor Pros and Cons

What are the Advantages and Disadvantages of Being a Remote Financial Advisor?

Remote Financial Advisor Pros and ConsIn a hypercompetitive financial planning industry, one way to differentiate yourself from other similarly credentialed independent financial advisors is to embrace and offer new technologies to boost the level and size of your practice and provide increased value and services to your clients. Right now, there’s a rapidly growing trend toward financial advisors offering remote/virtual services to their clients. A financial advisor who offers remote/virtual services to his or her clients is known as a remote financial advisor (sometimes also referred to a a virtual financial advisor). Continue reading Remote Financial Advisor Pros and Cons

The Remote Financial Advisor Explained

Financial Planning 2.0: What is a Remote Financial Advisor?

Financial Planning 2.0 What is a Remote Financial AdvisorUp until the very recent past, the vast majority of financial advisors used essentially the same service model, which consisted of working with a client base sourced from their immediate geographic area. These financial advisors would then meet with their clients in person, usually at the financial advisor’s office, to discuss the client’s financial planning needs and goals. Notwithstanding the occasional email or phone call, the majority of communications between a financial advisor and his or her clients took place during meetings—meetings that consisted of actually sitting down with clients in a “real” face-to-face (not to be confused with FaceTime!) conference. Continue reading The Remote Financial Advisor Explained

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