CFO News Room

JANUARY 6, 2023

We also have a number of articles on practice management: Why the most successful firms in the coming years might be those who dominate individual market segments rather than those that are ‘overdiversified’. Why ‘failure’ scenarios in Monte Carlo simulations are very different than plane crashes.

Practice Management 130

Practice Management Auditing Planning Investments 130

CFO News Room

JANUARY 20, 2023

Also in industry news this week: While the number of RIA M&A deals increased in 2022, the size of these deals declined, perhaps reflecting challenging market and economic headwinds A recent survey suggests that nearly half of financial advisory clients have changed advisors or have considered doing so since the start of the pandemic and that portfolio (..)

Practice Management 130

Practice Management Cash Management Leadership Numbers 130

Nerd's Eye View

FEBRUARY 17, 2023

Also in industry news this week: A court ruling this week vacated Department of Labor guidance that a one-time rollover recommendation from a company plan to an IRA would trigger fiduciary duty requirements under ERISA Vanguard’s CEO this week indicated the firm plans to invest heavily in direct indexing amid the growing use cases for the strategy (..)

Practice Management 98

Practice Management Compliance Planning Securities 98

Nerd's Eye View

OCTOBER 17, 2022

Which, in turn, is spawning even more hunger for specialized practice management conferences in 2023. Leading to an expansion in various ‘niche’ conferences that specialize in particular challenges that advisors face as they follow the growth journey.

Practice Management 98

Practice Management Education Budgeting Manufacturing 98

Nerd's Eye View

FEBRUARY 20, 2023

Ultimately, the key point is that just as no single planning strategy is applicable for every client, no single practice management technique is appropriate for every financial planning firm. The firm has also implemented a limited client service calendar, supporting clients on key issues when they occur during the year (e.g.,

Practice Management 98

Practice Management Concentration Planning Numbers 98

Nerd's Eye View

DECEMBER 25, 2023

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Practice Management 98

Practice Management Tax Planning Planning Securities 98

Nerd's Eye View

JUNE 23, 2023

Also in industry news this week: A recent study found that financial advisors get significantly more social media engagement from posts on LinkedIn and Facebook compared to Twitter and highlighted the importance of posting original content for engagement Why RIAs have struggled to find a solid footing in the IPO market From there, we have several articles (..)

Practice Management 98

Practice Management Compliance Investments Finance 98

Nerd's Eye View

OCTOBER 30, 2023

Accordingly, back in 2012, I started to craft my own annual list of 'best-in-class' top conferences for financial advisors, allocated across a range of different categories (as what's best for solo advisors isn't the same as what's best for larger advisor enterprises, what's best for fee-for-service advisors isn't the same as what's best for AUM firms, (..)

Practice Management 98

Practice Management Numbers Budgeting Economics 98

Nerd's Eye View

DECEMBER 9, 2024

For many financial advisory firms, ownership has traditionally been tied to equity, where advisors take on financial risk in exchange for legal ownership and a share of the firm's success.

Investments 94

Investments Leadership Accounting Practice Management 94

PYMNTS

DECEMBER 6, 2020

Practice management software provider ImagineTime , which works with accounting firms, has partnered with Mango Billing for a "next-generation practice management solution," according to a press release.

Accounting 67

Accounting Practice Management Invoicing Accounting Firms 67

Nerd's Eye View

OCTOBER 14, 2022

We also have a number of articles on practice management: Why small financial advisory firms continue to thrive amid competition from the largest players in the industry. How the Common Data Set can help advisors and families compare the actual cost of attendance across a range of colleges.

Tax Planning 98

Tax Planning Practice Management Accounting Firms Securities 98

Nerd's Eye View

JANUARY 27, 2023

Also in industry news this week: Why cash management strategies could become increasingly important parts of an advisor’s value proposition in a higher-interest-rate environment Why improved returns on cash products could be a double-edged sword for some advisory clients following last year’s market volatility From there, we have several (..)

Nonprofit 98

Nonprofit Practice Management Advertising Cash Management 98

Nerd's Eye View

FEBRUARY 10, 2023

Also in industry news this week: The SEC this week released its 2023 examination priorities, which include its new marketing rule, Reg BI, and complicated investments The House of Representatives is considering legislation that would broaden the definition of who qualifies as an accredited investor and is potentially eyeing a role for financial advisors (..)

Practice Management 98

Practice Management Investments Numbers Planning 98

Nerd's Eye View

MAY 5, 2023

Also in industry news this week: Legislation working its way through Congress would allow for electronic delivery of documents to clients of advisors and other financial services firms by default, though it has been met with some opposition While RIAs have outpaced wirehouses in terms of client asset growth and headcount, industry consolidation has (..)

Practice Management 98

Practice Management Compliance Numbers Investments 98

Nerd's Eye View

SEPTEMBER 9, 2022

From there, we have several articles on practice management: A new company aims to train the next generation of planners and provide a valuable outsourced service to advisory firms. Why creating internal career paths and considering fully remote workers could help firms thrive in the current tight labor market for advisor talent.

Practice Management 98

Practice Management Education Planning Securities 98

Nerd's Eye View

JUNE 14, 2024

Also in industry news this week: While an infusion of Private Equity (PE) capital has shaken up the RIA M&A market, the ultimate implications for advisors, their clients, and the PE firms themselves remain unclear A recent study has found that a significant portion of 'DIY' investors are open to working with a human advisor (and paying for the (..)

Practice Management 98

Practice Management Planning Numbers Marketing 98

Nerd's Eye View

DECEMBER 16, 2024

When a financial planning firm is hiring a new employee, it naturally wants to find the best candidate to fill the role.

Advertising 98

Advertising Planning Investments Practice Management 98

Nerd's Eye View

NOVEMBER 25, 2024

Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.

Sales 94

Sales Planning Investments Numbers 94

Nerd's Eye View

MARCH 3, 2023

Senators is considering potential ways to shore up Social Security, from raising the retirement age to 70 to creating a sovereign wealth fund From there, we have several articles on practice management: How advisory firms can leverage their CRM software to run a more efficient practice Best practices for firms to consider when choosing training programs (..)

Practice Management 96

Practice Management Leverage Economics Securities 96

Nerd's Eye View

DECEMBER 2, 2022

From there, we have several articles on practice management: The three essential skills firm owners need to build the right team, including why it is important to always be on the lookout for potential employees. Why wrap fee programs appear to be in the crosshairs as the SEC begins to enforce Reg BI.

Practice Management 96

Practice Management Planning Securities Numbers 96

Nerd's Eye View

JULY 28, 2023

Also in industry news this week: The SEC released a proposal that would require firms to take steps to eliminate or neutralize conflicts of interest when using predictive data analytics tools with clients A recent study found that financial advisors remain the top source of financial advice for consumers, with social media coming in well behind From (..)

Benchmarking 98

Benchmarking Practice Management Securities Numbers 98

Nerd's Eye View

JANUARY 12, 2024

Also in industry news this week: The Department of Labor (DoL) this week published a final rule delineating what makes an individual an independent contractor versus a company employee, though it did not provide specific guidance for registered representatives of broker-dealers and other financial professionals who have expressed concern that their (..)

Practice Management 98

Practice Management Budgeting Communication Securities 98

Nerd's Eye View

SEPTEMBER 1, 2023

Also in industry news this week: A legal challenge to FINRA's operations as a self-regulatory organization has the potential to upend the current regulatory system for broker-dealers and their registered representatives A recent study indicates that while many consumers appear confident handling their finances on a 'DIY' basis during their careers, (..)

Strategic Planning 98

Strategic Planning Construction Practice Management Communication 98

Nerd's Eye View

JANUARY 6, 2023

We also have a number of articles on practice management: Why the most successful firms in the coming years might be those who dominate individual market segments rather than those that are ‘overdiversified’ Four ways firms can attract next-generation advisor talent.

Practice Management 98

Practice Management Auditing Planning Investments 98

Nerd's Eye View

OCTOBER 28, 2022

From there, we have several articles on practice management: A new report shows that RIA profitability and AUM soared in 2021, buoyed by a strong stock market and new client growth. Fidelity has introduced a direct indexing platform for advisors, joining an increasingly competitive space.

Practice Management 98

Practice Management Valuation Economics Numbers 98

Nerd's Eye View

NOVEMBER 11, 2024

To sustain firm growth, financial advisors often face a dilemma: to focus on what originally drew them to the profession – like financial planning – they often must first do an extensive amount of business development.

Marketing 98

Marketing Communication Planning Practice Management 98

Nerd's Eye View

NOVEMBER 18, 2022

We also have a number of articles on practice management: Why looking inward at their leadership style can be one of the best ways for firm leaders to prevent employee turnover. How advisors can help their clients turn their HSAs into wealth-building machines.

Tax Planning 98

Tax Planning Practice Management Leadership Planning 98

Nerd's Eye View

MARCH 10, 2025

Financial advicers often market their comprehensive financial services as a way to differentiate themselves from other advisory firms and to stand out in the broader landscape of financial advice. These services may range from 'standard' offerings like retirement planning to less traditional areas like credit card consulting.

Education 98

Education Planning Practice Management Marketing 98

Nerd's Eye View

OCTOBER 7, 2022

We also have a number of articles on practice management: Five key metrics that underpin advisory firm sustainability. A new paper argues that an actual safe withdrawal rate for retirees is significantly less than 4% when taking into account return data from developed countries other than the United States.

Practice Management 98

Practice Management Marketing Numbers Accounting 98

CFO News Room

JANUARY 24, 2023

We also talk about how, in addition to her unique succession structure, Jennifer created an operating agreement for her firm (based on the teachings of Philip Palaveev and Mark Tibergien) when she added a partner, that outlines the financial management of their P&L as targeting 40% advisor compensation, 35% overhead expenses, and 25% in profit (..)

Practice Management 130

Practice Management Planning Communication Leverage 130

Nerd's Eye View

APRIL 14, 2023

Also in industry news this week: The Foundation For Financial Planning has gotten a boost toward its goal of connecting 10,000 CFP professionals with pro bono work thanks to increased funding from Orion Advisor Solutions FINRA has resubmitted a proposal, now with tighter rules, that would allow a broker working remotely to supervise other brokers, (..)

Practice Management 97

Practice Management Auditing Leadership Securities 97

Nerd's Eye View

OCTOBER 11, 2024

Also in industry news this week: Edward Jones, which added more new CFP professionals than any other firm last year, announced that it is planning to offer financial planning services nationwide, highlighting the value for RIAs and other firms of differentiating themselves amidst increased competition not only for clients, but also for advisor talent (..)

Practice Management 98

Practice Management Planning Financial Data Numbers 98

Nerd's Eye View

SEPTEMBER 13, 2024

Also in industry news this week: A CFP Board study indicates that financial planners with the certification earn 10% more than other advisors and show very high levels of career satisfaction A Morningstar study has identified 4 main areas where investors find value from their financial advisors, which might not match an advisor's own list of top ways (..)

Compliance 98

Compliance Communication Practice Management Advertising 98

Nerd's Eye View

SEPTEMBER 6, 2024

Also in industry news this week: A probe by the Government Accountability Office found that the conflict-of-interest disclosures offered by many firms offering financial advice are often inadequate or confusing, making it hard for consumers to understand whether and when a financial professional is operating in their best interest A recent study has (..)

Treasury 98

Treasury Tax Planning Practice Management Compliance 98

Nerd's Eye View

DECEMBER 16, 2022

From there, we have several articles on practice management: Why it is important for advisors charging on a fee-for-service basis to regularly reassess their pricing, and best practices for letting current clients know about a fee increase.

Practice Management 98

Practice Management Education Leverage Planning 98

Nerd's Eye View

SEPTEMBER 15, 2023

Also in industry news this week: The SEC agreed to a series of settlements with 9 RIAs resulting from charges of improper use of hypothetical returns in advertising under the regulator's marketing rule How several CEOs of large RIAs and AdvisorTech companies have found that receiving funding from private equity firms and taking the responsibility for (..)

Practice Management 98

Practice Management Advertising Leadership Numbers 98

Nerd's Eye View

OCTOBER 13, 2023

Also in industry news this week: A study from the FINRA Foundation has found that objectively knowledgeable investors tend to pay less in investment expenses, while those who perceive that they have expertise tend to pay more A new report shows how pro bono financial planning can benefit not only financial advisors and their pro bono clients, but also (..)

Practice Management 98

Practice Management Planning Numbers Investments 98