Join this session for an in-depth look at how 529 college savings plans can help meet the different needs of clients of every generation. Learn about specific strategies to engage grandparents, Gen-Xers, Millennials, and employers that will deepen relationships and spur successful relationships across channels.
Educators acknowledge the unique qualities of adult learners, including: internal motivation and goal orientation, preference for self-directed learning, a richness of life experience, ability to critically reflect and connect to prior experiences and a desire for active, real-life learning activities. In this workshop, participants will be introduced to the theory, hear how these principles flow into application within an MBA in Financial Planning Program and learn how the concepts translate directly into practice. The presenters will share specific client-planner situations in which adult learning concepts would lead to elevated communication and counseling outcomes. The session is designed to be highly interactive session.
In this highly experiential and practical presentation using interactive case studies, you will learn how to position yourself as a behaviorally smart adviser for being the leader of your clients. Independent research shows that behavioral management of the client is 93.6% of the financial planning process.
Specifically, this presentation will address how through validated behavioral finance insights you can:
1. Techniques to improve client relationships
2. Improve planning process by being able to better manage client decision-making biases
3. Enhance compliance by better managing client risk tolerance
The key to achieving your next level of success can be as simple as asking the right questions. To do that, you must become a better listener. Combine the two activities properly and watch your successes multiplyâ€¦.in part because better questions and more active listening not only deepen the relationships you have with existing clients, but also are a proven path to developing a multi-generational client base that is a core component of a secure, thriving and ever expanding business. You will learn proven alignment and expectations conversations that when applied will lead to both increased retention of your existing A clients and new engagements with A clients.
Upon completion, participants will be able to help clients/prospects imagine and describe what they want for both themselves and their families both now and in the future (the big picture; including but far beyond the services and products you provide).
Cybersecurity is one of the hottest issues of our day and the financial services industry is a definite target for cyber criminals. This session will provide information on the obligation to safeguard clients’ data, as well as strategies on ways to protect yourself and your business.
Describe cyber security risk in the financial services industry.
Upon completion, participants will be able to understand what laws and regulations require of them to protect against cyber security risks in the financial services industry.
Apply strategies to minimize and/or limit both regulatory risks and cyber security risks in their financial services business.
This presentation focuses on how advisers can delight clients and achieve high-margin growth through lean discovery, engagement, and leverage. We’ll examine the sales and service cycle, and how to capitalize on opportunities for increasing referrals, close rates, assets under management, retention, and consolidation rates. You’ll learn about proven protocols for stimulating client disclosure of the real agenda; and for addressing this agenda and guiding clients to good decisions. You’ll learn how to combine these high-touch techniques with technology and task-shifting, so that you maintain high margins while delighting the client. Using these strategies, you can leverage all of your resources for efficient delivery of client-centered care. The presenter, Jeff Belkora, PhD, is the author of DEAL! Discovery, Engagement, and Leverage for Professionals, which presents his evidence-based strategies and illustrates them with examples from health care, financial services, and education. Dr. Belkora developed his approach to client-centered care while running a support program for patients facing life and death decisions at the UCSF Medical Center. Dozens of studies in health care found that his program is associated with increased decision quality; and reduced patient anxiety, decisional conflict, distress, and regret. Based on this track record, Dr. Belkora subsequently translated his work to financial services. Early results, published in the Journal of Wealth Management, show that his approach is associated with increased adviser inquiry, client disclosure, client satisfaction, and close rates. Among other outcomes, you will leave this session primed to apply Dr. Belkora's SCOPED process to a personal decision.
Good planners have an intuitive understanding of the different personalities of their clients. Some use formal models like the Myers Briggs -- but those are completely disconnected from current research. In this session well explore what actual researchers at major universities use and how that ties into personality and economic outcomes. Get up to speed with what the real scientists are saying. And, more importantly, you'll walk away with tools and templates you can use immediately with your clients.
Describe the structure of the Big 5 personality traits and motivating values.Identify connections between personality traits and economic behaviors.Apply personality based tools with clients in the financial planning process.
Exchange-traded funds (ETFs) have proven to be a valuable component for investors’ portfolios, ranging from the most sophisticated institutional money manager to the most novice of investors. As with any investment vehicle, to optimize the benefit from ETFs, planners, investment professionals, investors and traders must understand and use them effectively within their respective portfolios. This program has been carefully designed to balance the principles of portfolio management with applicable quantitative selection techniques for ETFs.
Be introduced to positive psychology and how it can be applied to improve clients’ quality of life and sense of well-being through the financial planning process. Look at well-being framework and discuss the tools and resources from positive psychology that are applicable to financial planning.
Understand what positive psychology is and how positive psychology supports the financial planning process.
Identify theory and scientifically grounded tools, resources, and exercises from positive psychology that contribute to client well-being.
Understand how to integrate positive psychology into financial planning practice.
Millions of Americans in their 50s, 60s, 70sand beyondare using their accumulated time, talent, and experience to help solve some of the most urgent and pressing problems facing society in what presenter and social innovator, Marc Freedman, calls encore careers. Encore careers are second acts for the greater good, combining the spirit of idealism with the seriousness of work. These individuals in encore careers are at the vanguard of a growing movement with the potential to make the most of the longevity revolution, now and for generations to come. In this presentation well explore how you can support and prepare your clients to transition to this period of their lives while ultimately contributing to a richer, more productive society for all.
Understand and anticipate the needs of a new generation of clients seeking to contribute during what was once the retirement years.
Appreciate the kinds of retooling opportunities available to individuals transitioning to a new chapter of work after 50.
Help clients plan to underwrite the costs of launching an encore career or second act after the age of 50.
Please note that CE credit is only for the live version of the course, and not the recording.
Join April's Journal contributor Susan Kornegay, CFP, and eldercare consultant Annalee Kruger, president of Careright Inc., as they share their many years of experience and knowledge, offering tested strategies for planners when addressing what Kornegay identifies as the six major areas of needs and concerns that affect seniors and their families. Their discussion is followed by a live Q and A, moderated by Betty Meredith, one of FPA's Knowledge Circle hosts.
Please note that CE Credit is only available for the live presentation on the date and time of this event
Join May's Journal of Financial Planning contributors Brad Klontz and Kol Birke as they look at the powerful research and science being done on financial psychology, zeroing in on the practice-oriented techniques for planners to better understand, assess, and intervene in helping to shape the client financial beliefs and behaviors that can improve their financial and overall well-being. Their discussion is followed by a live Q and A, moderated by FPA Knowledge Circle host Barbara Kay.
Same-sex marriage is now legal nationwide in the United States, but the recognition is not universal. LGBT individuals still have difficulties around the world. Join us as we discuss how to successfully navigate political obstacles, immigration issues, and estate planning in a way that recognizes your freedom and love.
The art and science of financial planning is practiced within a space of possibility shaped by many forces - including history, tradition, culture, technology, markets and regulation. In turn, these forces develop within the confines of economic constraints. Economics is therefore responsible for shaping much of our professional environment. Yet like fish in water, we are often unaware of our immediate surroundings accepting without question the world are accustomed to as the way things are.
Join Pavlina Tcherneva as she breaks new ground at FPA Retreat - lifting the veil on money, debt, unemployment and inequality to reveal a new world of economic possibility for the 21st Century.
Helping clients cope with an unknowable future is a fundamental skill for professional financial planners.
Participants will be exposed to alternative interpretations of economic forces grounded in the realities of money and banking.
50% of communication is listening: but if youre not prepared to listen, what kind of communication partner are you going to be? Enhancing your listening habits will positively impact your decisions, relationships and success. During this session, youll learn what you and others filter as a listener, identify your personal listening strengths and challenges, and explore various listening habits that youve developed over you lifetime.
Identify their primary listening habit
Realize their strengths and weaknesses and what to do about it
The purpose of this presentation is to share results from clinical tests designed to evaluate the relationships between and among financial anxiety, physiological arousal, and the intention to engage in financial planning. The presentation will include examples of physiological arousal, as well as dialogue among attendees about arousal perceptions and practical ways to manage a clients arousal and financial anxiety levels. A model will be presented that helps answer why some clients are more likely to pursue long-term financial planning compared to others.
Understand how people's behavior is impacted by cognition, arousal, and stress.
Learn how often a planner's perception of a client's mood is inaccurate.
Develop an understanding of ways to both explain and predict future client behavior related to plan implementation.
Obtain a basic understanding of Neuroeconomics and practical applications for incorporating financial planning techniques into your financial planning process thus enabling client's ability to make financial decisions at the right time. These decisions impact all aspects of financial planning including investment advice, estate planning, security, cash flow, etc.
Using Vanguard's Advisor's Alpha research, this presentation focuses on helping financial planners quantify the ways to add value for clients through relationship-oriented services that can go beyond market out performance. While this has proven elusive for most investors, the study demonstrates how relationship-oriented value can add about 3% in net returns, depending on a client's circumstances, while also improving client retention.
1) Review the more reliable benefits of your client relationships beyond outperformance, which has proved elusive for most investors.
2) Quantify the relationship-oriented wealth management services outlined in Vanguard's Advisor's Alpha concept.
3) Summarize the benefits to planners, including better alignment with client needs and improved client retention.
Your aging clients and their families need your services beyond investing and asset allocation. You can offer superior service to clients aged 40 – 90! Become the “Go To” professional for access to resources that can make aging easier. Your clients will turn to you first, and you’ll become invaluable to the next generation.
Target versus Niche: Sorting Out How to Create a Compelling Value Proposition
The OnDemand session for this course will be available by January 31st.
Many financial advisors struggle with how to define their target client and create a compelling offer, but both are necessary to effectively attract clients and referrals. In additon, at the base of it's confusion is the difference between a target market and niche. Understanding the difference will enable you to revolutionize your marketing. You will be able to describe your value to clients and centers of influence. You will also be able to create a service offering that attracts the clients you want most without becoming too narrowly focused and limiting your market potential.
How Do We Get Our Clients to Implement Our Best Advice?
Persuasion is defined as communication intended to induce belief or action and is perhaps the competency most essential to effective business development. Behavioral science has arrived at a widely agreed upon canon of principles of effective persuasive appeals. By artfully applying these scientific principles, financial professionals can drive home their messages with greater impact, thereby increasing the chances that their recommendations and plans will be implemented. Please join Dr. Crosby for this interactive seminar, which will provide participants with a chance to experience effective persuasion firsthand, and the toolbox necessary to implement these ideas for immediate benefit.
Understand the ways in which persuasion and influence underlie a financial professional's ability to have her/his plans implemented
Discuss the six key ways behavioral economics has identified for advisers to positively influence their clients' behavior
Develop a toolbox for inducing optimal financial decision making in clients by applying the principles learned
What do you do when you discover that one of your clients has a diminished mental capacity? According to the Alzheimers Association, Alzheimers disease will strike more than 8 million Americans by 2030 ( a rise of 60% from 2010). If you don't know what steps to take to protect your client and your practice, both may be at risk. In this workshop you will learn the best practices to follow when one of your clients has a loss of memory. You will develop a protocol to use with every client you suspect may have diminished mental capacity. You will learn the skills to develop a relationship with the clients entire family and become their trusted adviser for future generations. Remember it is not a question of if you will have to work with a client who has diminished mental capacity but when. Prepare yourself now to protect your client, yourself and your practice.
Describe the best practices to deal with a client who may have diminished mental capacity.
Develop a standardized protocol for your firm to address situations where clients have exhibited diminished mental capacity.
Create a relationship with the clients entire family using a very powerful tool, the family meeting.
This workshop will first focus on the Divorce Adjustment Process and the predictable stages that clients going through divorce will typically experience. Where clients are in the Divorce Adjustment Process determines how we should best respond to and work with them. We will also talk about the concept of regression to help us understand what clients are experiencing and why people going through divorce are often difficult to work with. We will also look at how the litigation process differs from mediation and how this difference informs our work.
Describe the role of regression in the Divorce Process.Identify where your client is in the Divorce Adjustment Process
Understand how to tailor make their approach and presentation in order to be most effective with their clients.
Do you ever wish you could bring together the outgoing nature of the extrovert with the listening superpowers of the introvert? Recent studies have shown that people who have integrated their extroverted and introverted sides have better success in sales. These middle-of-the-road folks are called Ambiverts, and such people are both born and made! In this interactive session, well look at what it means to be an introvert or extrovert and the communication and work styles of each. Then well explore how the natural strengths of one type can become the cultivated skills of another. The result: increased awareness of how you can develop a balanced, ambiverted energy that advances your client and colleague relationships.
Describe the differences between introverts, extroverts and ambiverts in terms of energy, communication styles, and information processing.
Assess their own energetic style and that of those around them.Apply their knowledge of introversion and extroversion to improve their communication and relationships with colleagues and clients.
This session will delve into how a person’s world view affects their investment strategy. By redefining home biases, practices can create truly disciplined global investors who look at the big picture. Dr. Sarah Newcomb, our social psychologist, will take a closer look at how cultural differences and national identities create friction in global investing. Matt Hall will present practical steps planners can take to grow open-minded disciplined investors and make informed decisions. Robert Van Beek will share a micro-level view of global investments from a Belgium/The Netherlands perspective. What benchmarks are used in these countries? Are their investment strategies the same as the U.S.?
Examine how cultural differences and national identities create friction in global investing.
Discover practical steps planners can take to grow open-minded disciplined investors and make informed decisions.
Discuss a micro-level view of global investments from a Belgium/The Netherlands perspective: what benchmarks are used in these countries and how are their investment strategies the same as the U.S.?
Today’s prospects are well informed, more educated and highly skeptical. Relationships matter now more than ever! In this session, Laura Virilli provides a hands on demonstration of how to identify high quality prospects, deepen client relationships, and shorten sales cycles through the use of social media best practices. Advisers will come away from this presentation with easy to implement social media action plan that drive results, fast!
Identify ideal prospects, deepen client relationships and build a bridge to the next generation through social media best practices.
Create an online brand to influence and attract clients and prospects.
What is the current environment in Washington D.C on elder justice? Get the most recent information on new and pending legislation, as well as insights into the efforts of federal agencies (from the Consumer Financial Protection Bureau and FBI, to the Department of Health and Human Services) to prevent elder abuse.
Learn to implement new habits and behaviors into their work day and actually stick to them.
Millennials are set to inherit trillions of dollars from the baby boomers over the next few decades. This generation has grown up with radically different beliefs and values about money and they are looking for innovative solutions now. New career paths, family dynamics, and communication methods demand that we make adjustments to our businesses to attract this new wave of clients.
Learn how to implement a financial planning process that appeals to the Millennial generation.
Identify technologies that will facilitate client collaboration within a virtual planning environment.
Understand how to effectively market to and communicate with the next generation of clients.
Successfully attracting and serving middle-income clients is often very different from the marketing and service models employed for high-net-worth clientele. While the middle market makes up over 80% of the American population, much of the financial planning profession focuses on the mass-affluent and beyond. The middle market is virtually an untapped opportunity for competent, objective financial planners. It may provide an excellent opportunity to launch or grow your practice, or expand your service offering, but not in the same ways we serve our high-net-worth clients. This session will identify service models and marketing messages and strategies that resonate with middle income clientele of all ages and stages.
Upon completion, participants will be able to describe specific ways to effectively attract and service middle income clientele.
Identify specific strategies to grow your practice.List common myths or challenges with serving the middle-income client
Identify what challenges are valid and define some best practices to minimize these challenges.
According to the latest research, African American households earning more than $75,000 are the fastest growing income group in the country. As the demographics in the United States continue to change, so will the profile of the wealthy. Award-winning financial journalist and author, Stacey Tisdale will provide tools and resources to address the often complicated needs of an increasingly diverse population of clients consisting of blacks and other minorities being in the bottom of the wealth gap.
Join longtime FPA Member Advantage Program partner Rusty Shelton, Advantage Media president, as he discusses how positioning yourself and your business as the undisputed expert, influential authority, and in-demand celebrity, makes you the financial planner that everyone wants to work with.
*Participants will receive a complimentary Authority Marketing audit.
Want prospective clients to contact YOU for a change? The key is providing something of value up front. With their contact information, they receive an automated series of emails that gradually increase their trust and win them over. Join us for a description of this innovative service and what it can do to increase the new clients you meet.
Join Shachar Kariv, the leading game theorist in the world, for an exclusive look at the cutting-edge advances in client profiling using gamification and advanced computing power. In a suite of simple games, your client will reveal who they truly are. The power to predict behavior, customize portfolios, and tailor servicing has never been greater. The future of advice is now.
Brittney Castro, CFP, CRPC, AAMS and founder and CEO of Financially Wise Women, launched her own registered investment advisory firm at the age of 28. In just two short years, she's leveraged social media to build a six-figure business, become a well-known financial expert for women of all ages, and land national media recognition from CNBC, The Wall Street Journal, The New York Times, CBS, Glamour, Elle, Marie Claire and many more.
In this enlightening breakout session, Brittney will show you exactly how she achieved her success and provide you with the strategies you must know to use social media to grow your own financial planning business.
How to Grow Your Financial Planning Business Using Social Media
Are you ready to finally embrace social media and use it to gain new clients, increase your annual business revenue and land media appearances? Financial advisors may understand how important social media is to grow their businesses but most still lack the skill sets necessary to use it effectively and produce measurable results.
Attend this breakout session and learn how to:
Target your ideal clients on social media and provide a valuable¯ experience for them.
Leverage Facebook, Twitter, YouTube and Instagram to consistently gain new leads.
Nurture your social media leads to actually convert them into new, paying clients.
Streamline your social media marketing efforts so they don't control your schedule."
Target your ideal clients on social media and provide a valuable experience for them.
Leverage Facebook, Twitter, YouTube and Instagram to consistently gain new leads.
Nurture your social media leads to actually convert them into new, paying clients.
Streamline your social media marketing efforts so they don't control your schedule.
This presentation will begin with a discussion of FINRA arbitrations and similar litigation, as well as the current regulatory climate. We will then move on to concrete and specific recommendations of the worst things to do to clients, and also the best things you should be doing to minimize the risk of any client suing you.
List best things you can do to minimize your risk of being sued by a client
Identify worst things you can do to minimize your risk of being sued by a client
Discuss the securities and arbitration environment and culture.
The six-step, systematic planning process is at the heart of what we do as financial planning professionals. In applying this process in client engagement, we integrate art with science. In this workshop, the presenters will facilitate an interactive session designed to leverage content explored over the last three days. Specifically, participants will collaborate on several emerging themes from the conference, including: client leadership and counseling throughout the six-step planning process, the cognitive and emotional issues driving client behavior in financial decision-making and the challenges of intergenerational-communication planning. Attendees will benefit from the session by walking away with concrete steps that can be taken to improve the level that art and science is integrated in their practices.
After participation in this workshop, participants should be able to:
Recognize opportunities for improvement within their own planning process
Identify concrete steps that will improve their planning delivery and client satisfaction
Improve client communication throughout the planning process
Join November Journal contributors James Grubman, Ph.D., and Dennis T. Jaffe, Ph.D. as they discuss and unpack the research in their cover article "Becoming a Culturally Intelligent Financial Adviser: The Next Frontier for Trust and Communication Skills." The panelists will be joined by FPA Knowledge Circle host for a lively Q and A about how these next frontier communication skills are essential for understanding and helping the cross-cultural client. (1 hour CFP CE credit for live broadcast only).
As the leader in your industry, community, or marketplace, you can position yourself and your business as the undisputed expert, influential authority, and in-demand celebrity that everyone wants to work with. This authority position moves you to new heights and makes marketing, selling, and building trust with clients dramatically easier and quicker than ever before. Learn how to combine Owned, Rented, and Earned media to position yourself as the go-to financial advisor!
List the seven pillars of authority marketing
Understand why taking the active steps to position yourself as the authority is the best way to hyper grow your business, gain the trust of lifelong clients, and get great referrals.
Implement owned, rented, and earned media to position yourself as the authority in your niche field or marketplace
The world has dramatically changed in only a short period of time and is now characterized by increasing levels of fluidity, speed, disruption, and uncertainty. A recent IBM Global CEO study revealed that a substantial majority of CEOs around the world believe the response to this new context must include a new set of leadership skills. These new skills include resourcefulness, agility, comfort with uncertainty, resilience, inventiveness. In fact, the study documents that the number one leadership need is CREATIVITY. This keynote session will outline the major forces of change causing these new conditions and explore the implications for financial planning and financial planners. Participants will walk away with a better appreciation of how global forces are impacting their clients, prospects and their practices. They will learn about a new set of creative skills needed to respond to these conditions.Better understanding of the global forces influencing consumer attitudes and implications for financial plannersUnderstanding of 7 core creative leadership skills needed to navigate this new global environment Identify 4 creative seeing skills that help discover and implement innovative practices
With marriage available now to LGBT couples in all 50 states, where do we stand now, what's changed and how can you guide these clients forward? Stuart Armstrong will provide you key updates related to the recent June 2015 US Supreme Court decision, how it built on the SCOTUS Windsor decision of 2013, and what should be on your To Do list to guide these clients as effectively as possibly. This session will also cover key planning points for those who are not yet married but may now be considering marriage and the financial planning implications.
Identify what has changed for currently married LGBT couples in the wake of the recent June 2015 US Supreme Court and what those clients could be doing next.
Identify the major issues unmarried LGBT couples face and prepare these clients with actionable planning steps to help them differentiate the financial and legal benefits of marriage from their current status.
Outline other challenges that may continue for LGBT couples and families and what these clients can do to better prepare themselves if they face these challenges.
Most planners are well-trained on the quantitative aspects of financial planning but not always on the very important qualitative information required to serve client needs. This session will cover the entire financial life planning process, including interviewing, uncovering client history, and discovering prioritizing and quantifying client goals.
Quantitative vs. Qualitative Planning
The Initial Interview Uncovering Your Clients' Histories Around Money Discovering Your Clients' Values
Discovering Goals That Really Matter to Your Clients
This roundtable of leading practitioners will discuss best strategies from their experiences on how to set up specific marketing and management campaigns designed to reach NexGens and Millenial type clients.
Robo-advisors: Tools to embrace or services to shun? Talk of robo-advisors floods the media these days, but what does it really mean for your practice. Learn about the various types of robo services and the impact they are already having on our industry. Then enjoy a spirited debate between two of our colleagues with radically differing perspectives - and make your own decision.
We have three primary drives, as human; to be in connection, to have a sense of purpose and to make a meaningful contribution in life. Presence is that elusive characteristic that underlies those primary drives. It is the essential ingredient beneath all of our actions but it is difficult to access and to define. We may have a felt sense of it or we may notice when someone else is being present. How can we reliably access it? It is the portal to our strength and commitment and related to every action that we take. This workshop will have two aspects: define the essential aspects of presence so we can see how to access it in our personal and professional lives; and create an experience of how to access presence in small groups so participants leave with an experience of how to generate it.
Participants will be able to identify the key aspects of presence
Will learn a model of how to access presence
Will have the opportunity to practice the model so that the participant can reliable create more of it in their lives
Discover how to build better habits and improve your mental and physical performance at work and at home. James Clear will break down the most important research in behavioral and social psychology in terms that are easy to understand and apply to your life. He will provide a user-friendly framework for overcoming procrastination, improving consistency, and building habits that actually stick.
Learn to implement new habits and behaviors into their work day and actually stick to them.
Design your environment to make it easier to stick with good habits and harder to slip into bad ones.
Realize the framework for building better habits to the situations and circumstances you face in everyday life.
The most effective marketing techniques can be incredibly time-consuming without an automated system to streamline the processes, increase effectiveness and boost results. Learn how advances in technology can help accelerate your marketing to generate a steady flow of qualified prospects. Automation not only helps to improve and protect your relationship, but can save time, maximize sales and boost referrals.
What FPA competencies does the webinar address?
Practice Management (growth: marketing, acquisitions, referrals, niche market development, thought leadership, social media)
What does it mean to be "digital" and how can you use todayā€™s technology to improve financial planning for your clients? Fidelity Investments and eMoney Advisors will discuss the findings from Fidelityā€™s recent white paper; "eAdvisors Take the Lead" and talk about the steps firms can take to integrate critical digital building blocks.