Clients Are Afraid to Spend in Retirement. How to Stop the Madness.
What would happen if word got out that you’re an advisor who helps clients put their fears of running out of money to rest, so they can enjoy retirement on their terms? Business would be booming! The trouble with our industry is that most of…
Is Your Marketing on Life Support? Turn the Tables on Client Acquisition.
At InsurMark, we survey thousands of advisors each year to get feedback on various topics. Many comments are clustered around concerns like, “My marketing is on life support” and “I’m struggling to close the client acquisition gap.” The problem for most of these advisors is…
Advisors Need a Champion Mindset to Go from Good to Great
When you think of highly successful individuals, elite athletes often come to mind. For one, famed boxer Muhammad Ali will always be known as “the Greatest.” In recent years, several athletes have been labeled as GOATs (Greatest Of All Time), including quarterback Tom Brady, gymnast…
5 Things High Growth Firms Do to Achieve Exponential Growth
If you read our recent blog, “Struggling with organic growth? Here’s what’s holding you back,” you know that organic growth for advisors has tanked since 2017, with growth rates hovering around 3-4%. At the same time, some advisory firms are growing exponentially, at rates of 20%, 30%,…
Struggling with organic growth? Here’s what’s holding you back.
One of the biggest challenges nagging advisors today is how to accelerate organic growth. It’s no secret that organic growth for advisory firms has tanked in recent years, going from a rate of 9% in 2017 to 3-4% in recent years. It’s also no secret that the world has changed drastically since 2020, especially when it comes to consumer behavior and expectations. Yet, many advisors haven’t changed how they do business, and that’s a problem.
The Death of the 60/40 Portfolio Has Been Greatly Exaggerated. Here’s Why.
Mark Twain famously said, “The reports of my death are greatly exaggerated.” The same may be said for the 60/40 portfolio, the 60/40 mix of stocks and bonds rooted in diversification and pioneered by economist Harry Markowitz decades ago. In recent years, numerous financial pundits…
Four Boxes Advisors Should Check Off Their To-Do Lists in 2024
It’s a new year, and 2024 is chock full of opportunities for ambitious advisors who are willing to act strategically to capitalize on them. That’s right, this is not your generic New Year’s resolutions for advisors type of blog post. We’re talking about what’s going…
Involving Family in Financial Planning Is Good for Clients and for Business
“Retirement Is a family affair.” Those words of wisdom were shared by Steve Gresham, senior education advisor for the Alliance for Lifetime Income (ALI), on a recent episode of The Breakthrough Advisor Podcast. Retirement affects everyone in the family (primarily spouses and children), yet most…
Widows drop advisors like flies. How to avoid becoming a statistic.
The first conversation an advisor has with a surviving spouse shouldn’t be after a client has died. There are many reasons to include both spouses in financial planning conversations, yet many advisors fail to do so. Spouses often look at investing and retirement in different…
How FinTech Helps Advisors Boost Revenue Via Personalized Experiences
FinTech—the technology available to help financial advisors enhance, streamline and grow their practices—is growing by leaps and bounds. Just take a look at the Kitces Financial Advisor Technology Map! One of the many ways FinTech can help advisors both serve clients better and boost revenue…