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Successful financial advisors realize that building a thriving practice today requires more than just offering financial and investment guidance to clients. You may want clients to view you as their personal CFO: someone at the center of their wealth management team who is overseeing their entire financial situation.

This comprehensive service includes both sides of the client’s balance sheet—income and expenses, assets and liabilities. Is it time to expand your thinking beyond your current support, and include additional services that enable you to help clients manage more of their financial big picture?

Helping clients with debt management

For most clients, their big financial picture includes debt management. Many clients need guidance when it comes to using debt in the most practical and cost-efficient ways.

While excessive and irresponsible debt can lead to serious financial problems for clients, there are situations where...

Discussing advisory fees with your clients

While financial advisors may believe they are well-covered when it comes to discussing fees with their clients, research suggests that there is a disconnect between this perception and reality.

According to a report by State Street Global Advisors and Knowledge@Wharton,1 most...

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Should you develop a new marketing niche?

When job hunting, sending resumes in a scattershot fashion is considered an ineffective strategy because it lacks focus. “Spray and pray” isn’t any more desirable for financial advisors. Taking a targeted, niche approach can be much more useful for landing high-value clients....

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Should You Include a Digital Investment Solution in Your Practice?

Now, more than ever, advisors have an increasingly sophisticated array of digital solutions at their disposal, which can help streamline investment management, improve risk profiling, and expedite client onboarding—especially for smaller accounts. With model-based portfolio management...

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How to Make Your Small Accounts More Profitable

It’s a dilemma faced by virtually all independent financial advisors today: squeezing profitability out of small accounts. Advisors often have to spend just as much time and energy working with small clients as they do large ones.

However, given the lower volume of assets under...

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