DJ

The Efficiency Problem

I want to know what parts of a financial advisor’s day are the most painful, the most mindless, the least efficient. I want to know this because I’d like to confirm my suspicions of an industry-wide problem: that the business of financial advice is largely inefficient, and that inefficiency lies in technology.

Two Problems, One Solution

I often wonder what the average day of a financial advisor looks like.…

Integration With MoneyGuidePro!

Integration With MoneyGuidePro!

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We made a new friend!

We’re very excited to announce our new integration with leading financial planning software, MoneyGuidePro! Combining our secure, hassle-free, single-source data connection with MGP’s powerful planning tools, the life of a financial planner in the digital age has never been better.

With all of your client data in one place, including offline and held-away assets, data management is a one-and-done deal.…

#FinSci: How We Talk When We Talk About Finance

#FinSci: How We Talk When We Talk About Finance

“Even I went down a path of reckless spending before finally waking up.”

Fiscal Cliff

The Economy’s Trajectory in 2013

Metaphors are…

How do we talk when we talk about finance? In metaphors. Metaphors are so ingrained in our language that it’s hard to recognize when we’re using them or even do something about it when we do.…

Searching For Fads In Financial Advice

Searching For Fads In Financial Advice

Why seek out fads?

Fads are temporary–they fade away or get pushed out by the next one. If I asked you to name 5 fads right now you’d rattle them off in 30 seconds, but the fads you’d tell me have come and gone–they’re in the past. The real challenge is in identifying current fads–the fads that we don’t know are fads yet.…

#Advisorhack: Never Forget A Name

#Advisorhack: Never Forget A Name

Forgetting someone’s name is bad. Remembering someone’s name who doesn’t remember yours, on the other hand, is impressive. In the advisory business, your contacts–whether clients, colleagues, friends, acquaintances–are your livelihood. Forgetting (or remembering) a name could be the difference between a new client and a disappointment. What can we do to make sure that we never forget a name?…

3 Essential Communications Skills Every Advisor Should Master

3 Essential Communications Skills Every Advisor Should Master

1. Brevity

We’re all busy.

The same questions are always being asked. Every business person, financial advisors included, has a specific canon of questions they’re (incessantly) asked, and it’s likely that your questioner is aware of this fact. Have your answers ready. Craft them thoughtfully and honestly, but have them (loosely) memorized.

Be brief.

When somebody asks you for your “story,” or “why you’re an advisor” don’t um and ah over which details are relevant, just have a response prepared (these responses should take less than 2 minutes to recount, by the way).…

#Advisorhack: Leave Your Assets At The Office

#Advisorhack: Leave Your Assets At The Office

It’s hard out here for an advisor…

Perhaps the biggest contradiction inherent to financial advisors is that the job itself requires two very different skill sets:

People skills (for earning, engaging, learning about, and managing clients) and

Analytical skills (to make sound suggestions regarding a clients assets)

These skills are often siloed in other businesses (think sales versus IT), but in order to be a great advisor you must possess both faculties and be able to leverage each of them appropriately.…

Telling Stories Part II: Know Your Story

Telling Stories Part II: Know Your Story

Everyone wants your story…

Facebook was probably the first social network to figure out that humans crave a good story. And thus Timeline was born, giving us context (in the form of cover photo and timeline) over which to lay all of our little plot-points (statuses, pictures, notes, new friends, etc.) so that our digital stories are easier to comprehend.…

The Plight of the Advisor

The Plight of the Advisor

The Tech Landscape

Financial advisors have a strange relationship with technology–the whole industry does.

Traders work with some of the most impressive technology in the world, but it’s a double-edged sword: Global trading has become so high-tech and fast-paced that the technology is outgrowing our our own faculties, as evidenced just this week by the single computer program of mysterious origins that managed to make up 4 percent of all quote traffic in the U.S.

The Good A̶d̶v̶i̶s̶o̶r̶ Doctor

The Good A̶d̶v̶i̶s̶o̶r̶ Doctor

There are lots of useful analogies for financial advisors: co-pilot and quarterback, personal trainer and even mechanic, but I think I’ve found another to add to the list: doctor.

Inspired by #FTACon12

This week, I noticed that my Twitter feed was peppered with tweets tagged #FTACon12. On the particular day I made this observation, it appeared that Carl Richards, aka Mr.…