Commentary: Build business rapport by asking the right questions

Advisors should avoid invasive, overly forward questions when networking by opening a general business dialogue, suggest Stephen Boswell and Kevin Nichols of The Oechsli Institute. Asking questions about a prospect’s opinion on current events and their own industry experience, as well as sharing personal stories, can prevent an advisor coming…

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3 ways to reinvigorate referrals

Doubts about referral marketing have risen in recent years, but advisors can boost success by improving client experiences, writes David Lyon, founder of Oranj. Advisors should recall even the smallest interactions with clients, emphasize their expertise and not be afraid of politely asking clients to spread the word, he writes….

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Advisors need to prepare for market downturn, experts say

Financial advisors must prepare client portfolios for an inevitable market downturn well before it happens, experts say. Ways to do that include structuring the portfolio based on goals and needs and stress-testing it against various market situations before they happen. Advisor News

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Advisors should be proactive with clients on tax planning, experts say

Financial advisors need to be proactive with their clients when it comes to tax planning, experts say, especially with the new tax law now in effect. Advisors should conduct an analysis of their clients' tax situations and consider working with an accountant, the experts say. Financial Planning online

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Strategies for prompting affluent prospects into making a decision

Stephen Boswell and Kevin Nichols of The Oechsli Institute point out that affluent prospects tend to operate under a joint decision-maker dynamic, which is why it's important to have all decision-makers involved in the sales process. They also suggest that once a proposal has been made, the advisor should step…

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Commentary: Bull market shouldn’t stop prospecting

It is a misconception that prospecting for affluent clients is more difficult in a bull market because their investments tend to be performing well, writes columnist Matt Oechsli. He argues their loyalty to advisors is based on the service they receive, not on market conditions. WealthManagement

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New approach needed for attracting millennial clients

Millennials represent advisers' future largest customer base, with much of an estimated $30 trillion in generational wealth set to be transferred to them, writes Michelle Jackson. Attracting them as clients involves embracing a combination of technology and human contact, and focusing on a personalized experience. WealthManagement

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How to protect senior clients from financial abuse

About 10% of Americans older than 60 are victims of financial abuse, according to the National Center on Elder Abuse. Clearly defining mental capacity and creating revocable trusts are among seven tips from attorney David Lenok for advisers to protect clients. WealthManagement

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Survey: Few middle-income baby boomers think they’re ready to retire

Before the financial crisis, 41% of middle-income baby boomers thought they were prepared for retirement, but that figure has since fallen to 31%, a survey from Bankers Life found. Scott Goldberg, president of Bankers Life, said this lack of confidence about retirement is an opportunity for advisers. ThinkAdvisor (2/27) 

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More Americans ready to seek financial advice, survey finds

A survey by Allianz Life Insurance Company of North America found that 29% of Americans are more likely than in the past to seek advice from a financial professional in 2017. That's the highest percentage in the survey's history. ThinkAdvisor (12/21) 

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