FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
8 ways financial advisors can make a great first impression (InvestmentNews)
One of the most important parts of a financial adviser’s job is getting new clients. And when trying to get new clients, it behooves advisors to make a great first impression.
As such, InvestmentNews asked successful planners what other advisors can do to stand out in a first meeting. Among the responses given were keeping a comfortable office, treating potential clients as people rather than prospects, and making eye contact.
A recent study from Boston-based DALBAR found that the average equity mutual fund investor earned annual returns of 3.66% in the 30-year period ending on December 31, 2015. Meanwhile, the S&P 500 index produced annual returns of 10.35% in the same period.
“DALBAR argues that voluntary investor behaviour is the leading cause of diminished returns, not poor investment recommendations, contributing 150 basis points of underperformance annually over the past 20 years and costing investors $122 billion,” writes Christopher Robbins. “Voluntary investor behaviour underperformance includes panic selling, excessively exuberant buying and attempts at market timing.”
Some couples don’t share a financial advisor. And that’s completely fine, but it could create some conflicts down the road via duplicated fees, overlapping holds, and mixed up strategies, reports Chris Taylor.
As such, in order to manage their financial futures in this situation, couples should consider holding team meetings, not feel pressured into quick decisions, capitalise on the opportunity to see which advisor offers the best option, and maybe even consider a new shared planner.
Stocks are still stuck (Charles Schwab)
“The running-to-stand-still pattern in US equities may continue, with bouts of volatility expected,” argued Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop.
“But US economic growth appears to be improving and stocks could start to sniff out a potentially better second half for both the economy and earnings. Investors should remain patient, and use volatility as opportunities to rebalance around normal strategic allocations in both U.S. and international equities,” they added.
A $350 million RBC team jumped ship to join Steward Partners (Financial Planning)
Chris Detmer and Aaron Brachman, two veteran advisors who oversaw $350 million in client assets at RBC, left to join Steward Partners, reports Andrew Welsch.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.