#NowMe: Advising Women Over 50
Find out why demographic trends and shared personality characteristics make women over 50 the ideal clients for financial advisors.
Knowledge is the blueprint for success, whether it’s retirement planning, income generation, or staying current on topics that impact your clients’ lives. Building Your Business offers timely and practical concepts and observations to connect useful perspectives from the financial marketplace to your practice and those you serve.
Find out why demographic trends and shared personality characteristics make women over 50 the ideal clients for financial advisors.
Why most winners of the Nobel Prize in economics couldn’t do an advisor's job.
In this first segment of the All in the Family: Managing Legacy Wealth program, we will delve into how to address your practice gaps.
In this second segment of the All in the Family: Managing Legacy Wealth program, we will delve into the power of a vision.
In this third segment of the All in the Family: Managing Legacy Wealth program, we will delve into a new standard for you and your team.
An “Ethical Will” (or “Family Legacy Letter”) is the product of an ancient tradition in which individuals share their life story, personal values, beliefs, blessings, and advice with future generations. According to Dr. Barry K. Baines, the author of Ethical Wills, “legal wills bequeath valuables, ethical wills bequeath values.”
This program consists of four presentations with multiple worksheets, checklists, and brochures. It is designed to help advisors transform their businesses into legacy wealth practices and create organic growth by capturing more assets with existing clients, cultivating relationships with family members (thereby increasing retention upon wealth transfer), and generating new business.
A checklist to help with the family meeting.
In order to “close the gaps” that are preventing you from operating a true Legacy Wealth Management practice, you need a plan. The plan will be based on the goals you identified in your “Vision Worksheet” and will include tactics that are based on the gaps you identified in your “Gap Analysis.” It is important to prioritize the goals you want to achieve and the gaps you want to close. If you take on too much at once, it will seem overwhelming and may cause you to abandon the process.
Life transitions can often derail clients’ plans and frequently result in clients choosing a new advisor. Be sure you know how to respond.
A growing body of research shows that financial advisors help investors make better decisions, which increases their investment returns.
A meeting that encourages families to work together to create a vision of how they will collectively govern and manage their wealth to benefit current and future generations.
The challenge for investors, who rely on their investment portfolios to supplement their other sources of income, is how to prevent selling their assets at the wrong time.
Although dividends have accounted for approximately 40% of the total return of the S&P 500 Index over the past 87 years, for some reason, their importance has been overlooked. But, as more investors think about longevity and look for high and growing investments that generate high and growing income, dividends will certainly gain favor.
As an advisor who works with multiple generations of your clients’ families, you are in the position to help your clients start a tradition that guarantees future generations of their family will know about them, the life decisions they made, and the values that guided their lives. That tradition is called an ethical will.
This case study tells the story of one high net worth family foundation, its journey from an organization that began with a traditional funding approach to one that embraced strategic philanthropy and the resulting rewards.
The changing face of the financial services industry keeps advisors engaged with the challenge of navigating clients through volatile markets, and the ability to anticipate and adapt to change. Today's best business-building...
One of the most valuable doesn’t trade on
an exchange, can’t be sold at a Christie’s auction, it's called wisdom.
For the best longevity planning outcomes, assume a long life, broaden the discussion, and
increase the number of chairs at the table.
Today, increases in longevity and the decisions associated with longer life are demanding that you help your clients prepare for the future. This may mean developing a plan that integrates health care, financial management and life goals into a strategy that supports and enhances their second half of life.
Retiring the traditional retirement conversation and refocusing on the longevity journey doesn’t simplify life. It challenges us to broaden our perspective and increases the importance of the decisions we make relative to our health, our wealth, and how each of us uses our life’s wisdom to prepare for an abundant second half.
Every so often, a book linking spirituality to investing hits the market. While some of us consider any instance where we part with a sizeable chunk of change a spiritual experience, that isn’t the essence of spiritual investing. According to...
The old adage, “From shirtsleeves to shirtsleeves in three generations”, describes the challenge of sustaining family wealth. While it makes sense to take adages with a grain of salt...
Robo advisers offer some advantages, but the most comprehensive financial guidance still requires human touch.
Making your retirement savings last multiple decades may be financially daunting, but living to a ripe, old age can be well worth it for individuals, families and the economy.