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Here’s a stat for you: Baby Boomer parents are expected to transfer a staggering $30 trillion to their Gen X and Millennial children over the next 30 years.

While the Great Wealth Transfer represents a great opportunity, there's also a possibility that some of these assets will transition out of many advisory practices. Historically, beneficiaries haven’t remained with their parents' financial advisers after they receive an inheritance. Also, while a decade ago an inheritance primarily went to one beneficiary per estate, today they are more frequently split between multiple beneficiaries—sometimes as many as 10 people....

Broaden your role by providing clients a securities-based line of credit

Successful financial advisors realize that building a thriving practice today requires more than just offering financial and investment guidance to clients. You may want clients to view you as their personal CFO: someone at the center of their wealth management team who is overseeing their...

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Discussing advisory fees with your clients

While financial advisors may believe they are well-covered when it comes to discussing fees with their clients, research suggests that there is a disconnect between this perception and reality.

According to a report by State Street Global Advisors and Knowledge@Wharton,1 most...

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Should you develop a new marketing niche?

When job hunting, sending resumes in a scattershot fashion is considered an ineffective strategy because it lacks focus. “Spray and pray” isn’t any more desirable for financial advisors. Taking a targeted, niche approach can be much more useful for landing high-value clients....

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Should You Include a Digital Investment Solution in Your Practice?

Now, more than ever, advisors have an increasingly sophisticated array of digital solutions at their disposal, which can help streamline investment management, improve risk profiling, and expedite client onboarding—especially for smaller accounts. With model-based portfolio management...

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