Inside Information Newsletter

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December 2019 In this issue...

  • Back to Why: Implement ‘the bet’ with your own clients and change the value proposition from investment returns to the changes in their lives as a result of your service.
  • Conferences: Notes from Schwab IMPACT, with an explanation of taking commissions to zero.
  • Practice Management: Is 55ip software or a tamp?
  • Client Services: The easy way to become an expert in Medicare advice.
  • Parting Thoughts: Why I think Michael Kitces is wrong about Skip Schweiss.

November 2019 In this issue…

  • Entrepreneur Leadership: You’ve heard laments about the decline of the Financial Planning Association. But private ventures are succeeding in the space where the leading membership organization would normally rule.
  • Practice Management: Here's the best advice you're likely to see on how to build an effective ops team.
  • Client Services: With the introduction of Holistiplan, tax planning for clients has suddenly become far easier and more convenient.
  • Parting Thoughts: A really cool initiative by Carl Richards will celebrate and encourage "real" financial planners.

October 2019  In this issue…

  • The Dimensions of Leadership: What is leadership? How do you cultivate it in yourself and your staff?
  • The Profession: Introducing an entirely new way to promote financial literacy.
  • Practice Management: A different way to train your employees, and a practice structure that may be much more efficient and profitable than the norm.
  • Parting Thoughts: How to overcome the stagnation that has seized up the profession.

September 2019 In this issue…

  • Time = Money: Here are some of the benefits of having everybody in your office track the time they spend on client and administrative work.
  • Time Tracking Tips: Here’s how a number of advisory firms are using time-tracking software, the categories they are assigning to their time, and the insights the data has given them to better manage their firms.
  • Things I Worry About

August 2019 In this issue...

  • Trendy Technical topics: Here are some of the highlights from the AICPA’s ENGAGE conference in Las Vegas, which will help you provide more value to your planning clients.
  • Conferences: Takeaways from the ENGAGE conference keynote presentations.
  • Client Service: Here's a process where you can survey your clients and get instant data analysis on the responses.
  • Parting Thoughts: A much better tax proposal than the SECURE Act.

July 2019 In this issue…

  • High-Tech Investing: From index replication to automated tax-loss harvesting, from subscribing to portfolio management to customized SRI investing, there’s a lot of technological change in the investing space.
  • Planning: Congress has created a lot of complication for high-end estate planners. Here's how to fix the problems.
  • The Profession: How "cloud native" software could transform your desktop and the way you do business.
  • Parting Thoughts: A close look at the actual disclosure requirements in the text of the SEC's Reg BI regulation.

June 2019 In this issue…

  • Improving Your Mind, Raising Focus, Hiring Practices and Compliance Synopsis: Here are the highlights of the NAPFA Spring conference in Austin, TX.
  • Client Services: You've probably heard about one client assessment tool. But here are three much better ones.
  • Practice Management: What are the most interesting discussions taking place in the HIFON network these days?
  • Parting Thoughts: How Wall Street captures the SEC, one staffer at a time.

May 2019 In this issue...

  • Storm Cloud Gathering: A bond manager’s front-row view of increasing debt, another round of credulous bond ratings, looser debt security and indiscriminate buying. Didn’t we see these same warning signs eleven years ago?
  • Practice Management: What if you could replace PortfolioCenter with a less expensive system--and get additional software capabilities as well?
  • Practice Management: What software saves you the most time and delivers most value to clients?
  • The Profession: Make way for the CFAs.
  • Parting Thoughts: My return to consulting.

April 2019 In this issue...

  • Marketing to Perfect Strangers Synopsis: Social media may not be as complicated as people a certain age had assumed.
  • Client Services: A new resource uses best practices from the best advisory firms to help you improve your client service.
  • Client Services: Tools and tutorials that help you provide college planning advice.
  • Practice Management: Chalice Financial Network offers some attractive discounts.
  • Parting Thoughts: Maybe state regulation of financial planners isn't so bad after all.

March 2019  In this issue...

  • More Dangers of Suitability: When brokers line their pockets at the expense of their customers, fiduciary advisors often have to clean up the mess they left behind.
  • The Profession: Winners and losers at the recent T3 advisor conference— and some of the trends that the software world is driving in the profession.
  • Practice Management:  to use the data that you already have in your system to drive growth and profitability.
  • Parting Thoughts: Here's a difficult conversation that I hope never happens.

February 2019  In this issue…

  • Succession Template: Start ten years before your succession begins, by building a strong staff and providing training in leadership. Create an open, collaborative process where the candidates are given feedback on their qualifications. Separate management from ownership, as a way to simplify the process.
  • The Profession: Takeaways from the PFP Summit, featuring Tracy Beckes, Angie Herbers, Ed Jacobson and two experts on office design.
  • Client Services: An AI-driven bookkeeper can help you provide cash flow management to your complicated clients.
  • Parting Thoughts: The next lobbying frontier for a fiduciary standard appears to be at the state level.

January 2019  In this issue…

  • Objective Compensation: Here’s a rare guide to how you can transform subjective performance bonuses into incentives to achieve specific, measurable metrics.
  • Client Service: Read this before you give clients advice on their student loans.
  • Practice Management: How to get instant workflows into your CRM system.
  • The Profession: Is it really such a great idea to have instant ACATS transfers?
  • Parting Thoughts: Next year's debate about the SEC's Reg BI proposal is going to be good for the profession.