Weekend Reading for Financial Planners (Feb 13-14)

Weekend Reading for Financial Planners (Feb 13-14)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement that the Investments & Wealth Institute (IWI) is launching a new online advisor networking/community platform called “The Hive”, to be available to both IWI members and those beyond, as the organization seeks to expand its footprint beyond its roots of CIMA and CPWA certificants into a more FPA-style “open tent” association for financial advisors.

Also in the news this week are a number of other notable industry headlines, including:

  • The latest Cerulli Associates data showing the largest broker-dealers are getting even bigger, with the top-25 broker-dealers now accounting for nearly 72% of brokers and a whopping 90% of all IBD assets (up from just 58% and 83%, respectively, a decade ago)
  • A new study of TAMPs showing that investment outsourcing continues to rise, though while TAMPs started in the independent broker-dealer channel, it’s now RIAs leading their growth

From there, we have several articles on investment management:

  • The ongoing rise of direct indexing is now gaining enough traction that index providers are scrambling to figure out how to license their indices to the emerging direct indexing platforms
  • The complexity and opacity of alternative investments isn’t doing much to slow their growth, but is spawning rapid growth in the CAIA designation for advisors who want to learn more about how to properly exercise due diligence regarding alternative investments
  • A Morningstar analysis on whether Bitcoin is really a good idea to hold (or “HODL”!) in a client’s portfolio given its dramatic volatility

We’ve also included a number of marketing-related articles, including:

  • How using the word “if” turns prospect pitches into awkward leading questions and why using open-ended questions is better
  • Why it may be better to make your advisor marketing less rational and more emotionally driven
  • Rethinking the business development process to better highlight how the advisor brings expertise to the table to identify less-than-obvious problems and provide less-than-obvious solutions

We wrap up with three final articles, all around the theme of being more flexible to a changing world and making mistakes:

  • The difficulties of planning for your long-term future amidst a world with such uncertainty, and how a “micro-planning” approach can help
  • Given that every successful person has a lot of mistakes to share, perhaps it’s time for us to get less fearful of making mistakes and more focused on simply learning from them?
  • Why it’s a good idea to deliberately put yourself in situations where something may go wrong… because in the end, it’s far easier to “practice failure” in a controlled environment than to risk it in the moments that matter most

Enjoy the ‘light’ reading!

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