Running a business means spending money. And, starting a business means spending money before you begin earning money. That’s where the saying, “You have to spend money to make money,” comes from, after all. The idea of spending money to earn money comes into play with sunk costs. So, what is a sunk cost? Sunk […]
Archives for October 2021
#FA Success Ep 251: Accelerating Inbound Referrals By Planting Better Seeds With More (Radical) Relevance, With Bill Cates
Welcome back to the 251st episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Bill Cates. Bill is the founder of Referral Coach International, which helps financial advisors attract more of their ideal clients through referrals. What’s unique about Bill, though, is that he teaches his financial advisors clients how to […]
Three-quarters advisers changed processes post-Woodford
Three-quarters of advisers have changed their investment process behaviors as a result of the collapse of Woodford Investment Management. Almost 6 in 10 of advisers surveyed had at some point recommended clients invest in the Woodford Equity Income fund. Of these, 84% had clients who were impacted by the fund’s suspension in June 2019. The […]
Three-quarters advisers changed processes post-Woodford
Three-quarters of advisers have changed their investment process behaviors as a result of the collapse of Woodford Investment Management. Almost 6 in 10 of advisers surveyed had at some point recommended clients invest in the Woodford Equity Income fund. Of these, 84% had clients who were impacted by the fund’s suspension in June 2019. The […]
FSCS declares 12 firms in default
The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers. The move opens the door to investors to claim compensation from the FSCS. The firms were declared in default in August and September. Among the firms declared in default in the latest batch of defaults […]
FSCS declares 12 firms in default
The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers. The move opens the door to investors to claim compensation from the FSCS. The firms were declared in default in August and September. Among the firms declared in default in the latest batch of defaults […]
The One-Page Financial Plan: Focusing Advice On What Matters Most
In the delivery of “the financial plan,” advisors have traditionally presented the thick, leather-bound, firm logo-embossed, three-inch binder to clients. On top of being a tool to present “the plan” to clients, this also was an outward demonstration of the sheer depth of analysis the advisor completed to compile this plan; a physical manifestation of […]
Wells Fargo hit with another case and more exits by international advisors
Weekend Reading for Financial Planners (Oct 16-17)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement from Schwab Advisor Services that it will be requiring the 13,000 RIAs on its platform (including those migrating from TD Ameritrade) to hold at least $1 million of Errors & Omissions (E&O) insurance coverage, in the […]
