FP+Careers - Part 12

Weekend Reading For Financial Planners (Sept 10-11)

September 9, 2022 02:00 pm 1 Comment CATEGORY: Weekend Reading

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that as Millennials grow their wealth, they could be increasingly turning to financial advisors for guidance. But amid competition from large asset managers and broker-dealers, advisors can consider how they can shape their service offerings and fee structures to attract Millennials and build client relationships that could last for decades to come.

Also in industry news this week:

As broker-dealers increasingly offer fee-based planning services, RIAs are responding by enhancing their own service offerings, and offering alternative fee structures to differentiate themselves from the competition
More states are adopting continuing education requirements for investment advisers, with three states establishing rules that must be followed by the end of 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
What advisors are doing to maximize the efficiency of their firms without bringing on additional staff

We also have a number of articles on retirement planning:

How the introduction of new ‘modern’ tontine products could provide retirees with a new way to mitigate longevity risk
The options available to clients who want to reverse their decision to start claiming Social Security benefits
How sequence of return risk can affect accumulators as well as retirees

We wrap up with three final articles, all about time management:

Why scaling your time can be more effective than trying to stretch or save it
How exercise can not only extend your lifespan, but also increase the quality of those years
How the ‘money value of time’ can help explain why certain periods of time are more valuable than others

Enjoy the ‘light’ reading!

#FA Success Ep 293: Jumpstarting Growth By Showing Up Differently Where Prospects Are (Digitally) Concentrated, With Anna N’Jie-Konte

August 9, 2022 07:04 am 1 Comment CATEGORY: Financial Advisor Success Podcast

Anna NJie Konte Podcast Featured Image FAS

Welcome back to the 293rd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Anna N’Jie-Konte. Anna is the founder of Dare to Dream Financial Planning, an independent RIA based in New York City that has grown to more than $400,000 of annual revenue in barely 3 years by building a focused base of 32 ongoing clients coupled with more than a dozen project-based planning clients who go through a one-day financial planning intensive.

What's really unique about Anna, though, is how she accelerated her early growth to $400,000 of revenue by not just trying to build her own podcast audience, but leveraging her reach by appearing on other existing podcasts that already had a sizable audience, coupled with developing her own virtual conference that worked with financial influencers to again leverage her reach through their audiences, all to get in front of as many of her ideal clientele as she could, as quickly as she could, in her early years.

In this episode, we talk in-depth about how Anna built a network of 19 financial influencers to launch a free 5-day virtual conference in order to get her name in front of more than 1,000 engaged prospects, the way Anna determined the ideal podcasts to target to get the word out about her advisory business by intentionally choosing over 70 podcasts that discuss economic or business issues but have not directly featured financial experts before, and how Anna has managed to buck the industry naysayers who believe marginalized communities can’t be served profitably and has instead been able to succeed by continuously evolving her niche to increasingly stand out as a financial advisor of color successfully working with people of color.

We also talk about why Anna decided to leave her former position at a broker-dealer and launch her own independent RIA so that she could have the freedom to work with clients who, like her, are entrepreneurs and women of color in their 30s and 40s, how Anna came to the realization that despite the traditional industry approach of seeking out a large firm with a stable salary and benefits as the key to work/life balance as a parent that the better path to motherhood for her, and being able to be more present with her family, was to leave the large-firm job and become an entrepreneur instead, and why, in addition to her ongoing retainer clients, Anna has chosen to offer a one-month and now even a one-day financial planning engagement to expand the reach of the types of clients she can serve.

And be certain to listen to the end, where Anna shares how she continues to teach herself to be comfortable with choosing a career path of entrepreneurship that is pervaded with doubt and uncertainty (after growing up in a household that valued stability and consistency), how, during the early stages of launching her firm, Anna realized she needed to put aside her pride of being a one-woman band and hire the help she needed to not only grow the firm, but to also save her from serious burnout, and why Anna believes authenticity, taking risks, and being outspoken regardless of what others think are the keys to creating a successful career path as a financial advisor and business owner.

So, whether you’re interested in learning about how Anna launched her own virtual conference with financial influencers and leverages podcast appearances as a means of cross-promotion to get more prospects, why Anna decided to launch her own firm to gain the freedom to work with more of her ideal client and to have more time with her family, or how Anna realized it’s important to not only take risks to have a successful career, but to also know when to ask for help, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Anna N’Jie-Konte.

#FA Success Ep 289: Coming Together As A Partnership To Serve Your Collective Community, With Kamila Elliott

July 12, 2022 07:04 am 1 Comment CATEGORY: Financial Advisor Success Podcast

Kamila Elliott Podcast Featured Image FAS

Welcome back to the 289th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Kamila Elliott. Kamila is the CEO and Founder of Collective Wealth Partners, an independent RIA based in Atlanta, Georgia, that oversees nearly $25 million in assets under management for almost 175 client households.

What's unique about Kamila, though, is how she and her partners built an independent advisory firm, comprised entirely of Black CFP professionals, dedicated to supporting the creation of wealth for BIPOC and other underserved communities with a model that simply charges them for advice… even if they don’t have assets (or at least, not yet).

In this episode, we talk in-depth about how, after years of working in an environment where she saw first-hand how ultra-high-net-worth clients keep and grow their wealth (and the lack of diversity among those clients), Kamila decided to build a practice that focused on providing holistic financial planning to communities of color with emerging wealth, how Kamila and her partners serve their clients collectively with a team approach where each team member focuses on different areas of specialized expertise such as employee benefits, tax planning, and equity compensation, and why Kamila and her partners feel they can better serve their clients as advisors of color because they have a deeper understanding of both the cultural competencies necessary to serve different communities and the values those communities want to see represented in their investments and financial planning recommendations.

We also talk about why Kamila intentionally shifted her career focus to build an independent practice after years of working with clients and realizing how few looked like her, how despite working hard, Kamila was frustrated she was not receiving the recognition and compensation she felt she deserved and ultimately decided to follow the advice she gives her clients by advocating for herself and leaving her prior firm, and how Kamila explains the value of hiring a financial advisor to her clients (as many in communities of color have never had an advisor before) by likening it to hiring a personal trainer as financial advisors help clients stay focused, motivated, and accountable.

And be certain to listen to the end, where Kamila shares how she was surprised by how much time it takes to manage aspects of her business, like compliance, technology, and having time to learn new industry information in order to build a successful practice, how Kamila now recognizes risk and fear are part of growth and wishes she could have taken more risks early in her career, and why she believes in the importance of taking multiple career steps across different domains of the financial services industry that build upon one’s expertise (especially leadership skills) over time, even if that means having a more circuitous career… as not everything in life is linear.

So, whether you’re interested in learning about how working with ultra-high-net-worth clients at her former firm gave Kamila the insight to help others grow and retain wealth, why Kamila and her partners chose to create a firm with an equal partnership, even dividing responsibilities to ensure they are serving their clients to the best of their expertise, or how being comprised of entirely Black CFP professionals gives Kamila's firm the leverage to better serve and connect with clients of color with emerging wealth, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Kamila Elliott.

#FA Success Ep 285: Fast-Tracking Growth As A Career Changer With A High-Touch Service To Your Prior Profession, With Ryan Townsley

June 14, 2022 07:01 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Ryan Townsley Podcast Featured Image FAS

Welcome back to the 285th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Ryan Townsley. Ryan is the founder of Town Capital, an independent RIA based in Bel Air, Maryland, that oversees nearly $50 million in AUM for 65 client households.

What's unique about Ryan, though, is how he spent the first 15 years of his career as a nuclear power plant supervisor, and then subsequently transitioned to become a financial advisor that quickly grew to nearly $50M of assets under management in under 4 years by developing a high-touch service back to those who he knew so well in the nuclear power industry.

In this episode, we talk in-depth about how, after years of giving informal financial advice to his nuclear power colleagues, Ryan was inspired to build the only financial planning firm in the country dedicated to nuclear power professionals, how Ryan worked tirelessly to develop his financial planning process to reflect nuclear power plant procedures and engineering workflows (going so far as to run redundant financial projections in different software platforms because nuclear engineers always check their numbers twice), and why Ryan chooses to meet with potential clients over a several month period before onboarding to allow their relationship to progress naturally rather than make them feel like they are in a sales process.

We also talk about how Ryan realized his passion for personal finance while leveraging the GI bill to receive his MBA for business purposes, how joining a large financial services firm as his first step into the industry helped Ryan quickly understand that he enjoyed financial planning more than the sales and investments sides of the industry, and how Ryan ultimately decided the best way to build his client base was to launch his own firm so that he could serve clients exactly the way that he wanted to see them served.

And be certain to listen to the end, where Ryan shares how he was surprised at how few referrals he received when first launching his firm despite having years of nuclear power expertise and a specialized niche, how the combination of competitiveness, an inability to quit on himself, and concentrating on the number of accomplishments in the first year of his career transition gave Ryan the motivation to keep pushing forward until the new client momentum began to build, and why Ryan still follows the words of his mentor that the key to being successful is being pleased and proud, but never satisfied.

So whether you’re interested in learning about how Ryan made the transition from nuclear power plant supervisor to niched financial advisor, how a short stint at a large advisory firm helped Ryan realize he would have a better impact in clients’ lives by launching his own firm, or how Ryan still leverages his experience in nuclear power to structure detailed financial plans that truly connect with his unique clientele, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Ryan Townsley.

#FA Success Ep 284: Sharing Centralized Resources To Create More Capacity And Scale For Advisors To Grow, With Andy Schwartz

June 7, 2022 07:04 am 1 Comment CATEGORY: Financial Advisor Success Podcast

Andy Schwartz Podcast Featured Image FAS

Welcome back to the 284th episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Andy Schwartz. Andy is a partner of Bleakley Financial Group, a hybrid advisory firm based in Fairfield, New Jersey that broke away from a major insurance company and in just a few years nearly tripled its size to over $9 billion in assets across more than 50 advisors.

What's unique about Andy, though, is how he and his partners have built their firm into a platform that gives advisors the opportunity to leverage centralized large firm support services such as marketing, technology, compliance, and human resources, while still maintaining the freedom to run their own investment book of business how they see fit for their clients.

In this episode, we talk in-depth about how Andy and his partners run their firm as a form of cooperative with advisors sharing resources and additional services, to provide space and capacity to grow and scale their own practices, even including an in-house life coach (for both their advisors and their clients), how Andy and his partners purposefully do not receive any compensation as equity owners (making a living purely from their own practices’ P&L) and instead reinvest money generated by the firm back into the business to provide even more services their advisors can leverage, and how Andy attracts new top talent by not only trying to offer capacity and scale that is aligned to their advisors, but doing so while supporting a wide breadth of RIA custodians to give their advisors flexibility.

We also talk about how Andy accidentally started his financial services career in college by selling life insurance to college seniors after looking for a way to pay for his education, how after working at a large insurance broker dealer for over 30 years and becoming frustrated with corporate constraints, Andy made the difficult decision to walk away with his $3 billion practice and start his own firm, and how Andy approaches his leadership of the firm by viewing himself as a player and a coach (rather than simply an executive) as he maintains his own practice within Bleakley to show solidarity and create alignment with the other advisors in the firm.

And be certain to listen to the end, where Andy shares how, despite working hard for more than 3 decades on building an advisory firm and reaching $9 billion in AUM, he is still surprised at just how far it has grown over the years, how Andy has taken the approach that the moments when things go wrong can be viewed as learning and growth opportunities to better himself and to lessen the regrets he has in his own life, and why Andy believes it's the combination of building credibility, and our own financial resources, that is the key to position oneself to truly make an impact as an advisor.

So whether you’re interested in learning about how Andy runs his firm as a cooperative and is able to offer advisors freedom and shared resources to leverage for their own practices, why Andy intentionally forgoes equity compensation and instead reinvests in tools and resources for the firm, or how Andy applies his unique leadership role to not only help his own practice reach their goals, but to also guide the firm as a whole to reach $9 billion in AUM, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Andy Schwartz.

#FA Success Ep 282: From Executive Assistant To COO Scaling A $4B Advisory Firm, With Allison Felix

May 24, 2022 07:02 am 0 Comments CATEGORY: Financial Advisor Success Podcast

Allison Felix Podcast Featured Image FAS

Welcome back to the 282nd episode of the Financial Advisor Success Podcast!

My guest on today's podcast is Allison Felix. Allison is a managing partner and COO for Cassaday & Company, a hybrid advisory firm based in McLean, Virginia, that oversees more than $4 billion in assets for nearly 2,500 client households.

What's unique about Allison, though, is how she built and then leveraged her extensive knowledge of her firm and its operations to make the journey from an executive assistant all the way to COO, helping the firm scale to 3X its size over the past decade alone, from 25 employees to 75 and on its path to over $4 billion in AUM.

In this episode, we talk in-depth about how losing a key player in the firm’s succession plan led to a restructuring and Allison being chosen as the firm’s first COO, how Cassaday & Company developed its unique compensation structure that combines a low base salary with a percentage of the firm's top-line revenue for every employee to motivate all of them to reinvest in the success of the firm, and how Allison’s firm has propelled its growth with almost weekly seminars that were honed by hiring coaches to give constructive criticism and even recording the seminars to have all team members give critical feedback for improvement.

We also talk about how Allison applies the knowledge she gained through her years as an executive assistant (where she was not only responsible for bringing the CEO coffee but more importantly learned to wear multiple hats from HR and operations to billing) to better herself as a COO, why Allison’s firm has been expanding its service offerings to include estate planning, tax planning, and a life coach, to create a higher-touch service for the firm’s clients, and why and how last year Cassaday & Company ultimately decided to partner with Focus Financial to facilitate their firm’s succession plan (after the firm became too big for internal successors to buy it out) while still allowing all the key team members to continue in their current roles serving clients.

And be certain to listen to the end, where Allison shares how even though she has worked hard to scale and grow her firm, she is still surprised at its rapid growth despite challenges in recent years due to COVID, why Allison believes it’s important for future generations (especially young women) to understand the wealth of opportunities in financial planning as there is more to the industry than just talking numbers with clients, and why Allison feels stepping into the role of COO was pivotal, not only to help reinforce the confidence she had in herself, but to create representation for women at her firm and in the financial industry.

So whether you’re interested in learning about how Allison leveraged her years of operations experience in her transition into her firm’s COO, how Allison developed and outlined Cassaday & Company’s unique compensation structure, or why Allison felt it was important to partner with Focus Financial to ensure the future of her firm is secure, then we hope you enjoy this episode of the Financial Advisor Success podcast, with Allison Felix.

How Working With The Most Affluent Clients Can Actually Make Advisors Less Happy

May 16, 2022 07:06 am 2 Comments CATEGORY: Financial Psychology

Self-worth can be an important component of an individual’s well-being, but people often base their own sense of self-worth on how they compare with others around them. And because finances are often a part of that comparison, the financial situation of the people we interact with on a regular basis can have a significant effect on how we perceive our own self-worth. For financial advisors, this could mean that comparing themselves to their own clients (who tend to have high incomes and net worth) can have negative effects on how they view their self-worth, especially when they believe that their level of success or income does not measure up to that of their clients.

According to Kitces Research on Advisor Wellbeing, advisors on average do tend to have a high sense of self-worth. But despite being high overall, there is a small but clear pattern in which advisors’ self-worth declines as the net worth of their clients grow, with a steep drop-off coming as clients surpass $2.5M in net worth. Which suggests that being around high-net-worth clients can cause financial advisors to be constantly reminded of those clients’ affluence, and how their own financial status compares.

The effects of social comparison on advisors’ self-worth can also be felt when advisors move ‘upmarket’, serving more affluent clients as they gain experience in their careers. Doing so can cause the advisor to move out of their financial comfort zone, because if they originally served clients who were closer to the advisor’s own peer group and upbringing, moving to serve clients of a different socioeconomic status can cause tension between the advisor’s own values and attitudes toward money and that of the clients they serve. Which can in turn cause the advisor to feel as if they are inadequate to serve their (more affluent) clients’ needs, or unable to relate to those clients’ goals and desires – either of which might cause the advisor to feel dissatisfied with their place in life and consequently lower their sense of self-worth.

It is important, therefore, for advisors to avoid the traps that could cause their self-worth to suffer from over-comparison to their high-net-worth clients (since serving these types of clients is, for many advisors, the hallmark of a successful career). One method is for advisors to mark their own progress over time, not only in terms of income and net worth but also in terms of skills and overall life satisfaction. Comparing our progress and improvement over time by benchmarking against our own past performance can help us feel (just as we often help our clients feel) the satisfaction of making progress toward our goals.

Another way to improve self-worth is for advisors to use their knowledge to help those who are less affluent, such as providing pro-bono financial planning to those who cannot otherwise afford professional advice. Aside from the intrinsic benefits of helping those who are less well-off, this can also serve to balance out the feeling of having only highly affluent clients and can help the advisor feel more confident and useful in their ability to provide valuable, impactful advice.

Ultimately, maintaining a healthy sense of self-worth is key for financial advisors to stay focused on themselves and the positive impact they are providing through their advice. While social comparisons are inevitable – being hard-wired into most of our brains – it is possible to reshape and augment those perceptions by deciding who to compare ourselves to, which gives us the power to determine (and improve) our own self-worth!

A Career Changer’s Guide To Becoming A Financial Advisor: Career Paths, Preparation, Education, Costs, And More!

May 9, 2022 07:01 am 8 Comments CATEGORY: Personal/Career Development

The COVID-19 pandemic has led many workers to consider changing careers, perhaps for greater pay or flexibility. For those with an interest in personal finance and helping others, a career change into the financial advice industry could be an attractive option, particularly given that financial advisors generally report having a strong sense of wellbeing and that they have the potential to earn significantly more than the national median income. And with all of the ways that aspiring advisors can enter the profession, career changers have many factors to consider, including the type of work and career path they would ultimately like to pursue. Because the various financial advice career tracks come with different education and certification requirements, this decision will influence the career changer’s path as they pursue their first job in the industry.

For aspiring planners who want to work directly with clients but who don’t yet have leads of their own or experience with business-development strategies, one option is to start at a firm that assigns clients to advisors (so that the advisor can focus on practicing their financial planning advice skills as they learn how to generate new clients for the firm). Career changers who already have business-development experience (or who have access to many potential clients) might instead prefer to find a firm where they will be responsible for pursuing their own clients. Still, other career changers might want to eventually start their own firm; while this may allow for the greatest autonomy, this option also comes with the greatest financial risk (as the advisor will be entirely responsible for making up income lost after leaving their previous job!). For career changers who want to work in the industry but do not want to work directly with clients, pursuing a career track that allows them to construct financial plans and develop recommendations (without presenting them to the client) could be the best option.

After deciding which career path best suits them, a career changer can pursue the education and credentials that will help them stand out to potential employers and clients. For many, the first step will be to complete a broad financial planning education program to gain the technical knowledge needed to be a successful advisor. There are also designations (e.g., the CFP certification) and specialized training programs that can serve as a signal to future employers and clients that they have the skills and dedication to be effective advisors. Next, constructing a plan that makes the transition as smooth as possible (e.g., scheduling out time for classes, training, and job hunting; and budgeting the financial costs of a transition into financial advising) can help the advisor manage a potential salary reduction (for those pursuing an employee position) or foregone income (for those starting their own firm) as they get up to speed in their new career.

Ultimately, the key point is that while a career change into financial planning can be a fulfilling decision, it is important to plan in advance to ensure a smooth transition, from considering what kind of role in the industry is of interest to the education and credentials needed for that career track. Because with proper preparation, the career changer can increase the chances that they will not only have a good first job in the industry, but also have a successful long-term career in financial advice!

Measuring The ‘Best’ Marketing Strategies And The Second Kitces Research Study On Advisor Marketing

April 18, 2022 07:07 am 3 Comments CATEGORY: Nerd's Eye View

One of the largest hurdles for many financial advisors is not in developing the technical skills to be able to give good advice to clients, but in learning how to engage effective marketing strategies that are essential to growing and sustaining a successful advisory firm. Unfortunately, this struggle to attract a critical mass of prospective clients to actually pay for an advisor’s services has resulted in a very high attrition rate in the advisory industry (as high as 70% in the first three years). Accordingly, there has been a great deal of attention on identifying the ‘best’ marketing strategies for financial advisors to help them grow their businesses.

However, there have been surprisingly few studies exploring effective marketing practices in the financial advisor industry over the past years. Which is why we launched the first Kitces Research Survey on Advisor Marketing in 2019, to identify the marketing strategies financial advisors are really using that work (or not), what tools, technology, and systems advisors use, best practices in the most popular advisor marketing techniques, and what advisory firms really spend on marketing (including hard-dollar marketing costs, tools and technology, and staff support). Our study revealed that, while some of the most popular marketing strategies actually being used by advisors were those that required a large investment of time (such as establishing relationships with COIs, social media, and other forms of networking), many of these popular time-based marketing strategies turned out to be among the least effective at using the firm’s resources (i.e., time and money) to generate new clients. Conversely, strategies with comparatively modest investments of time and dollars (like SEO strategies and paid web listings) were far less common among the advisors surveyed in the study, yet ended out having the lowest Client Acquisition Costs!

Accordingly, pursuing more resource-intensive marketing channels – that potentially involve both time and money – can be a worthwhile effort in helping advisors attract more clients (for instance, cultivating relationships with COIs with affluent client bases, which potentially requires many hours of an advisor’s time, could yield more high-net-worth prospects than less resource-intensive marketing strategies) by generating enough new revenue that makes the time invested worth the effort, even if they may seem less ‘efficient’ in terms of the acquisition cost per client than those requiring fewer resources. These considerations become increasingly important as an advisory firm grows in terms of clients and revenue, because the larger a firm grows, the more difficult it is to scale time-intensive marketing channels (like COIs and networking) with that growth, since the advisor’s time gets both more valuable and more scarce. Ultimately, investing into more efficient – and scalable – marketing strategies can be a key component of sustainably growing an advisory firm as it becomes easier to spend the resources on dollar-based strategies than on time-based strategies.

To dive deeper into the costs and efficiency of various marketing strategies, we are excited to announce the 2022 Kitces Research Study on Advisor Marketing, which will examine how advisors’ marketing strategies have evolved over the course of the COVID-19 pandemic and explore further what the fastest-growing advisory firms are doing to market themselves at scale. All advisors are invited to participate and help the advisor community better understand “What Actually Works In Advisor Marketing”– and hopefully gain some insight into how they can improve their own marketing efforts as well!

Weekend Reading For Financial Planners (Apr 2-3)

April 1, 2022 02:04 pm 0 Comments CATEGORY: Weekend Reading

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the Securing a Strong Retirement Act (a.k.a. SECURE 2.0) has passed the House of Representatives with strong bipartisan support, meaning that after a long wait since the bill’s introduction, more tax and retirement planning opportunities may be on their way before the end of the year. Though with the legislation still pending review and passage in the Senate, it may take until the end of the year before it is actually signed into law?

Also in industry news this week:

A judge has ruled against the state of Massachusetts in its enforcement action against the brokerage firm Robinhood, and in doing so invalidated parts of the state’s fiduciary rule for broker-dealers (underlining the need for regulators to more clearly distinguish the line between sales and advice and to uniformly regulate firms on both sides of the divide)
RIA Mergers & Acquisitions activity continued at a strong pace in 2021, with the median firm valuation reaching 9x EBITDA – though the growing number of sellers may result in slowing valuation growth in the coming years (even while the total number of deals continues to increase)

From there, we have several articles on the regulation of RIAs and broker-dealers:

The SEC has published its 2022 list of examination priorities for broker-dealers and RIAs, including ESG factors (and concerns about “greenwashing”), crypto, private funds, and managing conflicted compensation models in compliance with Regulation Best Interest
In a new Staff Bulletin, the SEC has reiterated some of the standards of conduct that apply to both broker-dealers and RIAs when making account recommendations, namely the requirement to consider costs to the client (and justify and document the reason for recommending wrap accounts when lower-cost alternatives are available)
As private markets grow in size and influence, the SEC has proposed new rules increasing its oversight and enforcement over private equity and hedge funds and imposing new rules and reporting requirements on private fund managers

We also have a number of articles on retirement:

How clients with health insurance coverage through Medicare might get a mid-year reprieve on their Part B premiums due to price changes in one very-high-cost Alzheimer’s drug
Why some retirees choose to live on cruise ships, and the planning considerations for doing so
Six strategies advisors can use to reduce retirement income risk for clients, including asset-liability matching, dynamic spending, buckets, and more

We wrap up with three final articles, all about career planning:

A survey shows that while current and aspiring advisors agree on the importance of client communication in addition to technical skills, the biggest blocking point for many new advisors is simply the financial burden of jobs that require them to get their own clients from scratch (with little income until they manage to do so)
Why exploring a range of jobs and experiences early on (rather than becoming a specialist right away) can lead to a more fulfilling career
Why time and creating financial flexibility for oneself are two of the most important drivers of success when taking a career risk

Enjoy the ‘light’ reading!

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Weekend Reading For Financial Planners (Sept 10-11)

#FA Success Ep 293: Jumpstarting Growth By Showing Up Differently Where Prospects Are (Digitally) Concentrated, With Anna N’Jie-Konte

#FA Success Ep 289: Coming Together As A Partnership To Serve Your Collective Community, With Kamila Elliott

#FA Success Ep 285: Fast-Tracking Growth As A Career Changer With A High-Touch Service To Your Prior Profession, With Ryan Townsley

#FA Success Ep 284: Sharing Centralized Resources To Create More Capacity And Scale For Advisors To Grow, With Andy Schwartz

#FA Success Ep 282: From Executive Assistant To COO Scaling A $4B Advisory Firm, With Allison Felix

How Working With The Most Affluent Clients Can Actually Make Advisors Less Happy

A Career Changer’s Guide To Becoming A Financial Advisor: Career Paths, Preparation, Education, Costs, And More!

Measuring The ‘Best’ Marketing Strategies And The Second Kitces Research Study On Advisor Marketing

Weekend Reading For Financial Planners (Apr 2-3)

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