Managing Client Expectations: How to Answer 3 Common Questions

Posted by David Moon

January 28, 2020 at 10:00 AM

Being an auditor has given me the opportunity to speak with many of our advisors and see, firsthand, the best practices they’ve implemented for working with clients. But even with their own established procedures in place, they often wonder if what they’re doing is enough, and are curious about how other advisors are managing client expectations.

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Topics: Compliance

Valuing an Advisory Practice: Fundamentals to Consider

Posted by Maria Considine King

January 22, 2020 at 1:30 PM

If you’re in the market to buy or sell an advisory practice, valuation concerns are undoubtedly top of mind. Many well-established methods for valuing an advisory practice exist, but they all involve some degree of complexity and subjectivity. And, of course, a value calculation is not necessarily what a buyer will pay or what a seller will accept. Negotiation according to each side’s interest is what determines the price and the terms of the deal.

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Topics: Practice Management, Pricing Your Business

Finding the Right Acquisition Partner for Your Financial Services Firm

Posted by Christine Heuston

January 21, 2020 at 10:00 AM

The one constant in financial services, as in many other industries, is change. And with change comes opportunity. Right now, for example, we’re seeing a record number of advisors participating in some form of a business transition. Whether it’s acquiring a book of business or preparing for the eventual sale of their own practice, M&A activity is something that continues to be a hot topic across all channels of the industry. So, how do you go about finding the right acquisition partner for your financial services firm while continuing to grow your own book of business?

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Topics: Practice Management

6 Bankruptcy Basics Financial Advisors Should Know [SlideShare]

Posted by Justin C. Duft, JD, CFP, CLU, ChFC, CLTC

January 15, 2020 at 1:30 PM

People consider filing for bankruptcy for a number of reasons. But whatever the reason, this option is often seen as a last resort—a solution to be considered only after all other potential remedies have been exhausted. Unfortunately, the stigma associated with bankruptcy may make those drowning in debt hesitant to seek relief. Some have ethical objections, and others may view bankruptcy as an admission of personal defeat. As a result, a petition for bankruptcy relief is often made far later than objectively advisable.

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Topics: Behavioral Finance

What Your Clients Need to Know About Debt Management

Posted by David Haughton, JD

January 14, 2020 at 10:00 AM

Helping your clients use debt wisely goes hand in hand with budget planning. While many think the term debt carries a negative connotation, not all forms of debt should be viewed with disfavor. For some, debt is a necessary piece of their financial picture, and it can be used to help obtain an education, purchase a home, or establish a business.

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Topics: Financial Planning

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