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Friday, November 20, 2009
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The Practice Management CenterTools and insights to advance the business of advice.IN Practice Practical ways to improve your business - 30 days at a time
This is the time of year when many financial advisers have traditionally held yearend client dinners and parties. However, many advisers have shared that they need help in creating client gatherings...
Many of your retired clients are discovering their accumulated savings are insufficient to meet their current expenses, which translates into a need for more income.
In a survey by the Longevity Alliance Inc. of Washington, 42% of retirees said changes in their financial situation would cause them to think about going back to work and 29% said changes in health care coverage would be a key factor in that decision.
Over the past year, we have heard from advisers that the economy has not only hit clients hard; it has also affected their children who have recently graduated from college.
Mention 401(k) to financial advisers and most will say that they lack the knowledge, resources and time to compete with the relative handful of those who specialize in retirement plan sales.
Financial advisers lack the strategies and tools to service small accounts effectively, according to findings from a recent Russell Investments survey.
As a financial adviser, you likely can reflect back to late August 2008 and recall the angst that a falling stock market brought about every day.
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