Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that while banks have been able to attract a younger and more diverse set of financial advisors compared to the rest of the industry, thanks in part to their built-in referral stream, a relative lack of independence and dated technology could lead some of their advisors to explore options with independent RIAs.
Also in industry news this week:
How consumer concerns about the stability of the banking industry could present independent advisors with an opportunity to add value by managing client cash
Why an advisor’s fiduciary duty can sometimes come into conflict with the best insurance options for their clients
From there, we have several articles on marketing:
While many firms have grown in the past several years thanks to market performance and M&A, a recent study shows that the average RIA had negative organic growth during the past 5 years
How firm owners can develop a “business development culture” throughout their firms
The differences between client referrals and word-of-mouth marketing and how advisors can use each to attract prospective clients
We also have a number of articles on retirement:
How retirees (and their advisors) can use “mastermind” groups to learn from and build a community with their peers
A survey of what people tend to care about less as they age, from trying to impress others to prioritizing their career over other interests
How the choice of where to live in retirement can impact a retiree’s longevity
We wrap up with 3 final articles, all about creativity:
How the most effective companies encourage innovative ideas among their employees
Why better sleep might be the ultimate ‘hack’ for achieving better productivity and creativity
Why persistence can be the key to turning a good idea into a great one
Enjoy the ‘light’ reading!
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