Enjoy the latest issue of “Weekend Reading for Financial Planners” – this week begins with the news that the T3/Inside Information Software Survey is available and explores the technology tools advisors are using and their satisfaction with them. provide insight. With the continued rise of financial planning software tools focused on topics such as tax and social security, advisors continue to look for tools to expand and deepen their planning capabilities.
Also, this week’s industry news:
- FINRA has announced increased investigation of broker-dealers for potential violations following initial enforcement action under the Reg BI rule (relative After a long period of leniency) in the rules)
- A recent survey by Ameriprise found that more and more millennials are ready to listen to a financial advisor, and those with a financial advisor are more confident in their finances.
From there, there are several articles on practice management.
- The growth of the advisory industry is a double-edged sword, increasing its size and ability to attract talent, while increasing complexity and reducing the ability of corporate leaders to manage their businesses.
- A four-step framework for advisors to audit the process and make changes if the process is not performing its intended function
- How transparent organizational goals (translated into clear goals and reinforced on a regular basis throughout the company) help create a shared sense of purpose that keeps everyone working towards the same goals
There are also many articles on communication with clients.
- Why different parts of the client journey give you the opportunity to ask different types of questions (and which ones to start with as you develop your questioning skills)
- Best practices for managing personality assessments to ensure clients respond honestly
- Why digging into a client’s past financial history, rather than discussing future goals, is key to understanding their true motivations
We conclude with three articles on finding balance.
- Why are people reluctant to change their beliefs, and why it is important to have the mental flexibility to renew or abandon them even in the face of evidence to the contrary.
- How the concept of “work ethic” can lead to material abundance and less well-being, and why paying more attention to “life ethics” can help us prioritize enjoying life
- Why the concept of “work-life balance” overlooks the fact that people meet different psychological needs from multiple areas of life and how to create a life structure that meets those needs.
Enjoy your “light” reading!
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