Success as a Financial Advisor For Dummies
1. Edition January 2019
384 Pages, Softcover
Wiley & Sons Ltd
A must-have reference for financial advisors
In step-by-step detail, Success as a Financial Advisor For Dummies covers how a current or would-be financial advisor can maximize their professional success through a series of behaviors, activities, and specific client-centric value propositions. In a time when federal regulators are changing the landscape on the standard of care that financial services clients should expect from their advisors, this book affords professionals insight on how they can be evolving their practices to align with the regulatory and technological trends currently underway.
Inside, you'll find out how a financial advisor can be a true fiduciary, how to compete against the growing field of robo-advisors, and how the passive investing trend is actually all about being an active investor. Additionally, you'll discover time-tested advice on building and focusing on client relationships, having a top advisor mindset, and much more.
* Master the seven core competencies
* Attract and win new business
* Pick the right clients
* Benchmark your performance
* Start your own firm
Brimming with practical expert advice, Success as a Financial Advisor For Dummies is a priceless success tool for any wannabe or experienced financial advisor.
Part 1: Getting Started as a Financial Advisor 5
Chapter 1: Looking at the Big Picture 7
Chapter 2: Deciding Whether You're Geared to Be a Financial Advisor 27
Chapter 3: Performing a Self Background Check 37
Chapter 4: Deciding to Work for a Firm or Build Your Own Practice 47
Chapter 5: Surveying the Regulatory Landscape: The Fiduciary Standard 63
Part 2: Mastering Core Competencies 77
Chapter 6: Pursuing Professional Development 79
Chapter 7: Getting Budgeting under Your Belt 91
Chapter 8: Brushing Up on Asset Management 99
Chapter 9: Delving into Liability Management 117
Chapter 10: Excelling in Estate Planning 133
Chapter 11: Tackling Taxation 147
Chapter 12: Getting Up to Speed on Behavioral Finance 161
Part 3: Providing Superior, Personalized Service 169
Chapter 13: Formalizing Your Client Due Diligence Process 171
Chapter 14: Developing a Personalized Financial Plan 183
Chapter 15: Offering Collaborative Value-Added Advice 197
Chapter 16: Adjusting Your Service Level to Different Clients 209
Chapter 17: Benchmarking Performance 221
Part 4: Building Your Clientele 233
Chapter 18: Earning Clients and Making a Career for a Lifetime 235
Chapter 19: Raising Your Profile with Networking and Marketing 245
Chapter 20: Teaming Up to Build Synergies 261
Part 5: Running Your Practice as a Business 273
Chapter 21: Transitioning from Solo Practitioner to Business Owner 275
Chapter 22: Structuring Your Firm as a Well-Oiled Machine 287
Chapter 23: Divvying Up Your Business: Equity Participation 299
Chapter 24: Ensuring Business Continuity and Planning for Succession 309
Part 6: The Part of Tens 319
Chapter 25: Ten Tips for Being a Successful Financial Advisor 321
Chapter 26: Ten Business-Building Activities 327
Appendix: Financial Advisor Resources 333
Index 343
