Follow us on
       

Most Popular Articles

Most Popular Commentaries

Most Popular Articles

Most Popular Commentaries

More on Related Themes

2013-05-21 Does Your Firm Need a COO? by Beverly Flaxington (Article)

I run a 15-person firm. A consultant come and prepared a growth plan for our future. The number-one recommendation was that I create a role for a chief operating officer and hire this person. But I don’t see how a COO helps a firm that is as small as mine. This seems the solution for a firm of 50 or above, and I can’t afford a high-paid individual repeating what I already do.

2013-05-14 Framing the Referral Discussion by Beverly Flaxington (Article)

Last week, I was training a group of very successful Florida-based advisors who brought up what is a common issue with regard to client referrals. Even the best advisors, with the most satisfied clients, offering the highest levels of service often struggle with obtaining referrals.

2013-05-14 Housing Finally Breaks Free by Chris Maxey, Ryan Davis of Fortigent

Housing, which for so many years represented everything bad about the credit crisis, is finally beginning to have its day back in the sun. Trends in housing markets around the country are improving, to the benefit of the overall economy. It appears that trend is set to continue.

2013-05-07 Breakaway Brokers: What the Data Really Say by Bob Veres (Article)

For the past 15 years, and especially since 2008, few assumptions have been accepted as widely or confidently in the financial services world as the idea that brokers are leaving the wirehouse environment in increasing numbers – and taking their clients with them. Underlying that assumption is another: that the trend is accelerating, and will continue to do so until the brokerage industry’s retail footprint has been severely diminished. The more extreme projections see the entire brokerage asset gatherer/sales model following Lehman, E. F. Hutton and Bear Stearns into extinction.

2013-05-07 Establishing the Matriarch of the Family Legacy by Kristan Wojnar (Article)

Advisors see data about the opportunity of female clients and the wealth women control, but they don’t know how to differentiate themselves when working with affluent women. Here’s one tested way to achieve that goal.

2013-05-07 Eight Ways to Improve Your Relationship with Your Boss The Art of Managing Up by Beverly Flaxington (Article)

Many advisors with whom I work want their employees to work with them more effectively – what I call “managing up.” Advisors are often at a loss as to how to motivate staff and get them to jump on board with new initiatives – and those problems can be addressed by helping your charges improve their working relationship with you.

2013-05-07 Central Banks Steal the Spotlight Once Again by Chris Maxey, Brian Payne of Fortigent

Central banks around the world continue to provide increased stimulus to their respective economies. Increased conviction over pro-stimulus policies comes in light of recent flaws found in the Reinhart, Rogoff January 2010 paper, which suggested that government debt of more than 90% of GDP is detrimental to economic growth. The latest week brought another round of news in the world of central banking, although it seems the number of options left on the table is running short. What central bankers hope for now is that economies will finally enter recovery mode.

2013-04-30 The Most Underappreciated Threat to the Advisory Business by Bob Veres (Article)

Financial advisors have often heard the warning that their investment management services are going to become commoditized – so often, in fact, that you can forgive them for ceasing to pay attention. But if you don’t believe that an online algorithm can replace the sophisticated advice offered by a flesh-and-blood advisor, then check out the Wealthfront USA website.

2013-04-30 Best Practices for Following Up After a Prospecting Event by Beverly Flaxington (Article)

Based on your experience, what are the best practices for following up with prospects after an event that my firm sponsors?

2013-04-30 Is May Really the Time to Go Away? by Chris Maxey, Ryan Davis of Fortigent

As investors near the witching hour of May, the oft-asked question once again comes to the foreground is it best to sell in May and walk away? This year could prove the exception to recent history, but a number of trends are beginning to take shape inside the market’s inner workings.

2013-04-23 Venerated Voices™ Q1 2013 by Advisor Perspectives (Article)

Advisor Perspectives, a leading publisher serving financial advisors and the financial advisory community, has published its Venerated Voices awards for articles published in Q1 2013.

2013-04-23 Enforcing an Office Dress Code by Beverly Flaxington (Article)

Is it too much to ask of my staff members to be dressed well when clients come into our office? I may be old school but the disregard for professionalism is annoying to me.

2013-04-23 Q1 Earnings Leave Much To Be Desired by Chris Maxey, Ryan Davis of Fortigent

Following the strongest first quarter in 15 years, it is not surprising to see equity markets faltering in April. Last week’s decline of 2.1%, however, may reflect deeper concerns about corporate fundamentals amid a mixed earnings season.

2013-04-16 Dealing with an Obnoxious Wholesaler by Beverly Flaxington (Article)

We have a wholesaler who calls on our office. He is completely and utterly obnoxious. I understand they are supposed to sell but he is over the top. I don’t like to be pushed into things. Is there a right way to tell a salesperson like this to back off?

2013-04-16 Tax Day as Polarizing as Ever by Chris Maxey, Ryan Davis of Fortigent

Tax season is once again upon the American population, and this year, just as in years past, people are less than enthusiastic. It is estimated that the average taxpayer contributed slightly more than $11,000 dollars to federal taxes in 2012 and those figures are on the rise. As might be expected in the current backdrop, however, not everyone shares the same opinion on taxes.

2013-04-09 Four Bold Innovations that will Revolutionize Financial Planning by Bob Veres (Article)

What it would be like for an advisor in the 1980s to be magically transported to our 21st century? The changes would be dazzling: the Internet and social media, exchange-traded funds and Morningstar data, Skype conferences and the virtual cloud, plus a few million mobile device apps that do everything but vacuum your house.

2013-04-09 The “Big Lie” of COI Referrals by Beverly Flaxington (Article)

Several weeks ago I responded to an advisor’s question about increasing center-of-influence (COI) referrals. The advisor was frustrated that seemingly good relationships with COIs were not translating into more referrals. I received a response to that column from Scott Johnson, director of sales and marketing for My Perfect Client, a provider of training programs for financial advisors. Scott shared some interesting insights about his approach to COI referrals and I thought readers could benefit from these ideas.

2013-04-09 Labor Markets Stumble in March by Ryan Davis, Chris Maxey of Fortigent

In an unexpected development, labor markets fell flat during March. Following several months of healthy job growth, the economy was only able to muster 88,000 new jobs in March, well below economists’ expectations for nearly 200,000 jobs.

2013-04-02 The Most Important Practice Management Challenge by Bob Veres (Article)

The future of the advisory business is all about people, according to Philip Palaveev. No matter what happens with consolidation and pricing, he says, no matter what role technology plays, the most successful firms of the future will be those which excel at retaining, motivating and organizing their people.

2013-04-02 The Online Advantage: Findings from the Advisor Perspectives Mutual Fund-Site Survey by Nina Eisenman and Jeff Briskin (Article)

New research from Advisor Perspectives shows that offering outstanding online research and due-diligence capabilities is key for fund companies that wish to win the competitive battle for the time and attention of financial advisors.

2013-04-02 When the Boss is the Bottleneck by Beverly Flaxington (Article)

I have a thriving practice and am very proud of the way it has grown. I have reached a point where everything has to come through me. Every decision, new idea and project needs my attention or response. I have a competent staff, but I don’t have someone to whom I can delegate.

2013-04-02 Is the Vix Still an Adequate Measure of Risk? by Chris Maxey, Ryan Davis of Fortigent

The 30-day implied volatility index for the S&P 500 calculated by the Chicago Board of Options Exchange (CBOE), known as VIX, has long been used as an indicator of market sentiment. Commonly referred to as the “fear index,” the VIX often portends periods of stress in equity markets, as options traders price in higher volatility in the future. The shape of the VIX futures curve, in particular, has historically been used as an indicator of future volatility levels.

2013-03-26 When Employees Get Too Friendly with Clients by Beverly Flaxington (Article)

One of my employees has become overly friendly with one of our larger clients. This concerns me because I know when people are friendly they can share too much information, or if the relationship turns sour we might lose the client – or the employee. I value this employee but if I let her go, the client could pull their $5 million account. What advice do you have?

2013-03-19 Cutting Through Financial Jargon by Beverly Flaxington (Article)

One of our portfolio managers is embarrassing in meetings with clients. He insists on using complicated terms, doesn’t listen to what the client is saying and barges through with frightening concepts even though the client isn’t interested.

2013-03-12 Client Communication beyond the Newsletter by Beverly Flaxington (Article)

You have written about the importance of communicating with clients in a variety of ways. What are some examples of things that work best, other than the standard newsletter?

2013-03-12 Finally, a Jobs Report Worth Reading by Chris Maxey, Ryan Davis of Fortigent

Surprisingly, the February employment report showed a labor market growing at a reasonably healthy rate. Concerns that the sequester would spill into the broader economy have yet to materialize and if recent trends hold, the economy may finally be approaching a point of robust and sustainable job growth.

2013-03-05 Increasing Center-of-Influence Referrals by Beverly Flaxington (Article)

I'm frustrated by the lack of success my advisors are having with centers-of-influence (COIs). I know all of the supposed tips but nothing works in practice. I was led to believe that if we follow the right process we will get referrals from them. It doesn't work this way. Do you have any ideas for increasing COI referrals?

2013-02-27 Potential Threats to Equity Rally by Chris Maxey, Ryan Davis of Fortigent

Equity markets started a third consecutive year in rather impressive fashion, gaining more than 6% to date. With so much optimism in the investment community, it is always worth keeping an eye open for risks possibly overlooked. By now, it is apparent that investors are increasing their exposure towards equities with arms wide open. Data from the Investment Company Institute (ICI) estimates $39 billion flowed into equity mutual funds this year through February 13. Following outflows of $153 billion in 2012, the sudden reversal has been impressive.

2013-02-26 Are There Too Many Financial Advisors? by Beverly Flaxington (Article)

Is our industry struggling under the weight of too many advisors?

2013-02-20 Event Driven Investors Receive Their Wish by Chris Maxey, Ryan Davis of Fortigent

For several years, investors have wondered why M&A activity has been so benign.Corporate management teams cited uncertainty about the economic outlook as a primary reason for the depressed activity.With the latest round of tax increases and revenue cuts determined, companies finally appear willing to free their animal spirits and embark on the path of acquisition.

2013-02-19 How to Improve Your Presentation Skills by Beverly Flaxington (Article)

My financial advisors have the worst presentation skills. Any advice?

2013-02-12 The Best Tool You’ve Never Heard Of by Bob Veres (Article)

What's the most useful tool for your advisory practice that you've probably never heard about? I nominate an online service that fills in the blanks in your client asset management system.

2013-02-12 Can a Salesperson Help – or Hurt? by Beverly Flaxington (Article)

I just hired a successful sales guy. He has been in the industry for 15 years and knows what to do. Our advisors will not allow him access to their clients; they prevent him from attending meetings and are generally usurping his role. How do I get him integrated into our practice?

2013-02-12 Consumers Less Enthused to Bail Out the Economy by Chris Maxey, Ryan Davis of Fortigent

Following recent recessions, it was commonplace to rely on American consumers to bail out the economy. The reliance on the American consumer was widely understood as the best remedy for an ailing economy. We are not as fortunate this time around and our dependence on consumers is one reason for the sluggish rate of recovery since 2008.

2013-02-05 Comparing Advisors to Jim Cramer: Measuring your Professional Alpha by Bob Veres (Article)

Jim Cramer, Suze Orman and other so-called investment pundits and gurus are constantly telling consumers that they can do a great job of managing their portfolios on their own. Let's look at what the research has to say about the various investment performance benefits that advisors should be able to give their clients during the accumulation phase of their lives – excess returns above what do-it-yourself investors could obtain on their own. I call those excess returns 'professional alpha.'

2013-02-05 Why Don’t Satisfied, Happy Clients Refer? by Beverly Flaxington (Article)

Many factors underlie this issue, and here are the four most important of them.

2013-02-05 In Uncertain Environment, Jobs Grow Tepidly by Chris Maxey, Ryan Davis of Fortigent

For the 35th consecutive month, private payrolls registered positive growth. It was hardly the robust report economists would prefer, but the labor market continues to mend. However, there are still plenty of reasons to be concerned, especially with sequestration on the horizon.

2013-01-29 How to Hire the Best People by Beverly Flaxington (Article)

Numbers rule. Investments, financial plans and future goals can be assessed quantitatively. But the fundamental component of an advisor's practice is the people. Having the right people on your team to work with your clients and support your efforts is crucial to your long-term success, which is why I created a structured process for hiring the best employees.

2013-01-29 In Japan We Trust by Chris Maxey, Ryan Davis of Fortigent

In fewer than 60 days, one country has made a splash larger than all the others. No, we are not referring to the US, where Barack Obama was re-elected to a second term. Nor are we referring to China's recent transition of power. Instead, the country we reference is Japan. After decades of malaise, Japanese officials moved to embrace policies previously only accepted by Western officials.

2013-01-23 Is the European Crisis Over? by Chris Maxey, Ryan Davis of Fortigent

The European sovereign debt crisis that first erupted in 2010 and stoked almost three years of intense market volatility has all but faded from the front pages. Overshadowed by domestic policy issues and European Central Bank (ECB) President Mario Draghi's pledge to do "whatever it takes" to save the Eurozone, fears that the monetary union would crumble and unleash a maelstrom of financial distress appear to have dissipated.

2013-01-22 Venerated Voices by Ranks Economic and Market Commentaries Most Read by Financial Advisors (Article)

Here are the winners of our 2012 Venerated Voices awards: the top commentaries, authors and firms for the past year, based on readership.

2013-01-22 Overcoming a Lazy Coworker by Beverly Flaxington (Article)

One of my co-workers is lazy. He doesn't come in on time, he never does the work he is asked to do and he won't answer the phone. The rest of us take care of everything. It frustrates me that the owners do not see how hard we work and how he never helps out. Is there some way I can let them know about the inequities without coming across as a tattler?

2013-01-15 Dealing with an Unreasonable Compliance Department by Beverly Flaxington (Article)

I am in a very successful practice within a B/D. The firm brought in 'new guns' to oversee our compliance. I got along fine with our old team. Now everything we do is scrutinized and most of the time we are told 'no.' How should I deal with an unreasonable compliance officer?

2013-01-15 Are Investors Buying into the Equity Story? by Chris Maxey, Ryan Davis of Fortigent

Last week we discussed the debate over active versus passive management. We believe active managers can add tremendous value in particular segments of the market, despite recent challenges. Outside of the active management discussion, many investors are deciding whether equities are a prudent place to allocate capital at this point in the market cycle. The first week of the year answered investors' opinions on that question loud and clear.

2013-01-08 A New Year’s Message from the Publisher by Robert Huebscher (Article)

Advisor Perspectives just wrapped up a momentous year, and I'd like to share with you some of our accomplishments from 2012 as well as our plans for next year.

2013-01-08 Should Bonuses be Tied to Performance? by Beverly Flaxington (Article)

We do performance reviews for our staff every year. I do not believe performance should be directly linked to bonuses – they are different topics. But my COO says that we should divvy up the profit pool based on everyone's performance. Who is right?

2013-01-08 Another Lost Year for Active Management by Chris Maxey, Ryan Davis of Fortigent

There is no doubt that 2012 will be remembered by many investors, for reasons both good and otherwise. One group less likely to remember the good of 2012 is active managers. Across the universe of hedge funds and mutual funds, relatively few were able to outperform their comparative benchmarks. This continues a long running trend of active managers lagging their less active counterparts and raises many questions about the efficacy of active management.

2013-01-02 Getting the Most from Your Investment Committee by Bob Veres (Article)

Investment committees are a little bit like fingerprints: they come in all shapes and sizes, and no two are exactly alike in form or function. So advisory firms that have investment committees – or are considering creating one – can learn a lot from one another. My research has identified some best practices for this flexible management tool, by comparing notes among advisors on how they are managing their IC teams.

2013-01-02 How to Boost Your Team’s Morale by Beverly Flaxington (Article)

With the new year rapidly approaching, I want to instill enthusiasm and excitement for my team. We are concerned about the events in Washington and the price we will pay for inaction by our politicians. In the face of this, I want to remind my team of the value we provide for our clients. How can I instill the boost I'm seeking without seeming fake or forced?

2012-12-26 The Ten Key Benefits of Investment Committees by Bob Veres (Article)

In this first part of a two-part report, I'll identify ten core purposes that investment committees serve in different types of firms, ranking them in order of the number of responses I received. If your investment committee is serving all ten purposes, based on the survey, you're among a select minority - which means that many advisors may find new ways to use this versatile new tool in their RIA practices.

2012-12-26 Managing Client Interpersonal Dynamics by Beverly Flaxington (Article)

I run a high-end family office firm. A couple of families are dealing with significant interpersonal dynamics. In one case, I fear a client's son is emotionally unstable and could be harmful to someone. In another case, I have seen unnecessary confrontation among siblings.

2012-12-18 Should Your Firm Write its Own Marketing Copy? by Beverly Flaxington (Article)

My new marketing person has ideas for client outreach and communication. He says we would have more impact if we wrote our own articles and emails instead of using the vendor we have utilized for many years. Will we get more out of our communication if we write our own copy?

2012-12-18 What's Going Right? by Chris Maxey, Ryan Davis of Fortigent

Discussions of the fiscal cliff are capturing investor's attention, largely at the expense of trends pointing in the right direction. Year-end is synonymous with future prognostications, but current indicators suggest there is reason to be optimistic about the turn of the calendar this holiday season.

2012-12-11 Dealing with Lazy Employees by Beverly Flaxington (Article)

We are doing everything by the book in terms of hiring and team development in our firm. We use a recruiter, have an on-boarding process, team-up new hires with existing staff members, and conduct regular performance reviews. So why are my employees still lackadaisical?

2012-12-11 The Death of Managed Futures? by Chris Maxey, Ryan Davis of Fortigent

Managed futures strategies, or systematic trend followers, have long been an important component of diversified high net worth portfolios. Because of their ability to go both long and short in more than 100 global futures markets spanning equities, currencies, commodities, rates, and bonds managed futures have historically generated very uncorrelated performance to traditional investments.

2012-12-05 Argentinas Trials & Trubulations by Chris Maxey and Ryan Davis of Fortigent

Equity markets climbed higher for a second straight week, extending a rally that began November 16. For the week, the S&P 500 rose 0.6% and the Dow Jones Industrial Average gained 0.2%. In the post-mortem on Q3 earnings season, much has been made of the first quarter of negative earnings growth in three years. However, analysis by Morgan Stanley reveals an even more disturbing picture of corporate America: just 10 companies in the S&P 500 delivered 88% of the indexs earnings growth. Of those 10, four accounted for more than half and Apple alone made up nearly one-fifth of the indexs growth.

2012-12-04 What to Give Clients for the Holidays by Beverly Flaxington (Article)

During the holidays we have always sent tasteful gifts to our clients. This year the other partners are encouraging me to abandon the tradition in favor of a donation to a favorite charity. It would be our choice of a charity and not the client's choice. I am uneasy about this.

2012-11-27 Are Equities Still Cheap? by Chris Maxey, Ryan Davis of Fortigent

Since reaching a near-term top in mid-September, the S&P 500 Index fell more than 7%. After a 4% rally in the last five trading days, there are reasons to believe equity markets are poised to extend recent performance despite headline concerns.

2012-11-27 Dealing with a Ruthless Competitor by Beverly Flaxington (Article)

An advisor in the same town as I am is winning business that should be going to my firm. Prospects tell me that he makes claims that I know are patently untrue. Is it appropriate in sales meetings to tell prospects that this guy lies?

2012-11-20 Getting in Front of Your Top Clients this Holiday Season by Dan Richards (Article)

The single best use of your time is regular reviews with your top clients. But periodic informal conversations with clients over coffee or lunch are an equally powerful way to build deep bonds. With the holidays approaching, this is a great time to arrange those meetings.

2012-11-20 Working with Clients when Markets are Tough by Beverly Flaxington (Article)

It's hard for me to get clients excited and upbeat these days. The markets have been disastrous and unpredictable for too long. How can I get myself back on track?

2012-11-20 The Fallacies in Today’s Retirement Plan Assumptions: Putting the Hedonic Pleasure Index to Work by Bob Veres (Article)

Are you dramatically underestimating your clients' retirement lifestyle expenditures when you use Monte Carlo software? If you stop and look at a number of important assumptions hidden in the current models, you'll suddenly have a lot less confidence in the retirement plans you’re mapping out for your clients.

2012-11-20 Companies Grapple With Pressure from All Sides by Chris Maxey, Ryan Davis of Fortigent

As we move closer to closing the books on another earnings cycle, it is time to look back at the hits and misses for the quarter. Unfortunately, this quarter brought more misses than investors have seen in quite some time, despite a greatly reduced bar. The outlook also leaves something to be desired, with companies cutting forward guidance and analysts ratcheting down estimates for the next two quarters.

2012-11-13 The New Dynamics of Referral Generation by Beverly Flaxington (Article)

Discussion of financial advice among acquaintances has gone totally off the grid. It has become an almost universally taboo subject. People are loath to broach any conversation about personal finances. What are your thoughts?

2012-11-13 China's Transition Occurring at a Critical Time by Chris Maxey, Ryan Davis of Fortigent

While the presidential election in the U.S. was on the forefront of most investors' minds, current events in China could be equally important to the global economy. China is going through a political transition at the same time as it seeks to re-balance its economy. Whether those efforts will be successful remains a great unknown.

2012-11-06 Overcoming Meeting Mania by Beverly Flaxington (Article)

My company is going to win the award for “Meeting Mania.” When clients want to meet, I can’t accommodate them because of all the meetings we are required to attend: update meetings, investment meetings, focus groups, team breakouts, etc. It’s crazy, and I am not productive in this environment. How can I stop the insanity of these meetings?

2012-11-05 Election's Impact on Investors by Chris Maxey, Ryan Davis of Fortigent

Next Tuesday's election will bring some clarity to the types of policies that will shape the fiscal and economic future of America. President Obama and Mitt Romney certainly share different visions on how the US should tackle middling growth, while addressing the longer-term issues of the US fiscal deficit and seemingly unsustainable entitlement programs.

2012-10-30 Building Portfolios that Beat their Benchmark: Measuring Nanometers with a Yardstick by Bob Veres (Article)

Using tools he co-developed with the Nobel-prize winning economist Bill Sharpe, one advisor has found that he can reliably outperform an appropriate benchmark. His work proves it is possible to build a portfolio knowledgably. You just need the right tools to get the job done.

2012-10-30 Overcoming Employee Finger-Pointing by Beverly Flaxington (Article)

We have a team-selling approach. We have portfolio advisors, salespeople and client-servicing people who all go on calls together. I own the firm and I'm tired of hearing each of them complain to me about one another. It's always someone else's fault. What advice can you give me so that I don't say something that I will regret?

2012-10-29 Waiting for Treasuries to Reverse Course by Chris Maxey, Ryan Davis of Fortigent

In the years since the global financial crisis, investors have funneled money into fixed income securities. This year alone, more than $260 billion found its way into fixed income mutual funds. In an environment desperate for yield-oriented solutions, such demand is not surprising. What might be considered surprising, however, is investors' willingness to embrace such yield with extraordinary risk attached.

2012-10-25 Venerated Voices 2012 Q3 by Advisor Perspectives (Article)

We published our quarterly update for the Venerated Voices awards. Rankings were issued in three categories: The Top 25 Venerated Voices by Firm, The Top 25 Venerated Voices by Advisor and The Top 10 Venerated Voices by Commentary.

2012-10-23 How to Change the Regulatory Debate - Before it's Too Late by Bob Veres (Article)

After almost a decade of lobbying, arguing, and posturing, the long fight on Capitol Hill over who will regulate RIAs and how to define 'fiduciary' is approaching a close. Within the next six months, there will no longer be any real excuse to put off a decision, and new players, both in Congress and at the SEC, will be eager to start fresh.

2012-10-23 When Portfolio Managers are Asked to be Marketers by Beverly Flaxington (Article)

I work for a large firm as a portfolio manager. We are increasingly asked to make sales presentations and find new business. Is managing money no longer important in this business?

2012-10-16 How an Advisor Lost a $3 Million Referral by Dan Richards (Article)

Do you have a clear process for how your assistant responds to a call from a potential client? If not, then it will cost you business.

2012-10-16 When Strong Client Relationships Aren’t Enough by Beverly Flaxington (Article)

Building strong personal relationships with your clients and consistently exceeding their expectations for direct, personal service – these traditionally were the best ways to generate referrals. But what if that's no longer enough?

2012-10-15 Commodity Inflation Complicating Pro-Growth Policies by Ryan Davis of Fortigent

The return of commodity inflation raises several questions, primary among them being the impact it will have on emerging markets. While rising commodity prices are generally bullish for equity prices in emerging markets, it may also inhibit central bank flexibility at a time when many developing countries are experiencing decelerating economic growth. This issue was paramount in 2010, leading to underperformance in many EM stock markets. Since then, however, commodity prices have generally moved sideways, allowing those fears to subside.

2012-10-09 How to Manage an Overextended Team by Beverly Flaxington (Article)

I work for a large financial firm. I am continually frustrated by the fact that we generate lots of good ideas and talk about what we need to do, but rarely get things done. Many things stay open-ended, or up for discussion. I am part of the problem because I am so busy, as is my team. How can I be more of a doer and less of a talker?

2012-10-09 A Small Business Complex by Chris Maxey, Ryan Davis of Fortigent

Despite the release of the September labor report on Friday, small business owners seemed to take the biggest proportion of the spotlight last week. According to the Huffington Post, Romney and Obama mentioned the phrase "small business" a total of 29 times throughout the Presidential debate. The issues and importance placed on small business are unlikely to be as cut and dry as both candidates made them seem.

2012-10-02 When Centers-of-Influence Don’t Refer Clients by Beverly Flaxington (Article)

Everyone tells me I can sell more through relationships with attorneys and accountants. I have some that I know well. I refer to them, but they don't reciprocate. What am I doing wrong?

2012-09-25 A Woman's View of Choosing a Financial Advisor by Beverly Flaxington (Article)

Here are five things I've learned about what women seek in the marketplace.

2012-09-24 Who Deserves Blame (Or Credit) For Current Tax Policy? by Ryan Davis of Fortigent

U.S. Presidential candidate Mitt Romney received sharp criticism this week for his comments regarding the "47% of people who pay no taxes." Regardless of one's political stance, Romney's comments were instructive in highlighting a very real problem. The notion that Republicans or Democrats deserve blame for the current challenges is shortsighted, however, because both parties were contributing members to the current legacy.

2012-09-18 Selling Your Practice – After Negotiations Fall Apart by Beverly Flaxington (Article)

I was hoping to sell my firm to another financial advisor. When the time came to close the deal, he turned into a different person, trying to negotiate for all kinds of things and generally being very nasty. The deal fell apart. How do I find a suitable buyer who will treat me with respect and negotiate fairly?

2012-09-17 A Fed Fueled Rally by Chris Maxey of Fortigent

The week was overshadowed by policy actions from the Federal Reserve, which led to a 2.2% gain in the Dow Jones Industrial Average and a 1.9% increase in the S&P 500 Index.

2012-09-11 Dealing with Facebook-Addicted Employees by Beverly Flaxington (Article)

Is it reasonable to expect my younger staff to stay off Facebook and their phones, and concentrate on what they need to do to be successful? Is there anything I can do to get them to unplug and concentrate on our work during work hours?

2012-09-10 Are Labor Markets the Key to Fed Easing? by Chris Maxey of Fortigent

Widely reported last week was anemic labor market growth in August. Some talking heads took this news in stride, assuming this would guarantee further market intervention by the Fed, but there is a danger in assuming any form of quantitative easing will alleviate the intermediate-term concerns of the market.

2012-09-04 Three Essential Steps to Reach the Next Generation of Investors by Kim Dellarocca (Article)

Every day for the next 19 years, some 10,000 Baby Boomers will reach retirement age. Their huge pool of wealth will shift from accumulation to distribution. Financial professionals are losing those assets, so how do they go about replacing them?

2012-09-04 Overcoming Client Inertia by Beverly Flaxington (Article)

I have clients with whom I have worked for some time, and they just don't make the decisions they need to. They will say they have a referral for me, for example, but never give me a name or contact info. They will say they are going to come to a client event, but then not bother to show up. What can I do to make them more active and responsive?

2012-09-04 All QE, All the Time by Chris Maxey of Fortigent

In a week of relatively light trading to wrap up the summer, equity markets trickled lower, as the Dow Jones Industrial Average lost 0.5% and the S&P 500 Index fell 0.3%. It was a mixed week of economic data in the U.S., but markets were clearly locked in on Ben Bernanke's speech in Jackson Hole, Wyoming. News on housing seems to confirm that a bottom is in place, while manufacturing data continues to move in all different directions.

2012-08-28 The Key Obstacles to Succession Planning by Bob Veres (Article)

At every financial services conference, you hear complaints about all those clients who never managed to get around to implementing the fancy, creative, tax-saving estate plans that their advisor created for them. But are financial planners any better?

2012-08-28 The Wrong Way to Ask for Referrals by Dan Richards (Article)

There's no shortage of ideas about how advisors should operate - which means you have to be discerning about whose guidance you take. Recently, though, I disagreed with some advice from a top practice-management expert on the topic of referrals.

2012-08-28 Managing an Unmotivated Employee by Beverly Flaxington (Article)

What do I do when I have staff members who don't seem interested in self improvement? They aren't bad workers per se; just not motivated to improve. It frustrates me no end that I can't light a fire under them.

2012-08-21 The Profession's Faulty Assumptions: A Top Ten List by Bob Veres (Article)

In the financial planning profession, we make a lot of assumptions about the world in order to run spreadsheet models, retirement projections and sufficiency analyses, and generally determine how much a client should save and invest for the future. But many of the industry-standard inputs into our models are (how can I say this delicately?) garbage. Here are my top ten garbage inputs, with an explanation of how we might possibly improve on them.

2012-08-21 Dealing with Gossip in a Small Firm by Beverly Flaxington (Article)

Is gossip bad in a small firm, or can it be useful? I like to have employees tell me what's going on in our eight-person advisory firm. For me, it's where I get my best information about what's really going on. Is there a better way for me to manage? I don't want to be destructive but I don't want to cut off my best sources of information.

2012-08-21 Inflation Subdued, But Will It Last? by Chris Maxey of Fortigent

As the economy continues to grind along at a sub-optimal rate of growth, many pundits are calling for additional quantitative easing measures from the Federal Reserve. Recent inflation data keeps the door open for further easing, but pockets of higher prices exist, keeping the Fed at bay.

2012-08-14 Dealing with a Lazy Partner by Beverly Flaxington (Article)

What do you do in a partnership where one advisor (me) is aggressive, works late every night, brings in a lot of new business and the other (my partner) is lazy? It's beginning to annoy me that while I work hard, he just reaps the benefits without an equal contribution.

2012-08-07 When Clients are on the Verge of Divorce by Beverly Flaxington (Article)

What do you do when you are pretty sure your clients are on the verge of divorce?

2012-08-07 Letter to the Editor by Various (Article)

A reader responds to Bob Veres' article, The Alternative to AUM-Based Fees: The Total Profitability Retainer Formula , which was published last week.

2012-07-31 The Alternative to AUM-Based Fees: The Total Profitability Retainer Formula by Bob Veres (Article)

Many - perhaps most - advisors are overcharging a few of their clients and undercharging the rest. In other words, a small number of investment advisor clients are subsidizing the services that the others are receiving. Here's a way to address that.

2012-07-31 Dealing with Elderly Clients by Beverly Flaxington (Article)

What do you do when your client base is largely made up of elderly people and they are starting to fail - especially mentally? I have a number of clients who seem to be suffering from early dementia and memory loss. I don't want to be offensive to them, but I don't trust they even understand what I am saying sometimes about their financial situation.

2012-07-31 Venerated Voices by Venerated Voices (Article)

We published our quarterly update for the Venerated Voices awards. Rankings were issued in three categories: The Top 25 Venerated Voices by Firm, The Top 25 Venerated Voices by Advisor and The Top 10 Venerated Voices by Commentary.

2012-07-24 Integrating a Salesperson into Your Practice by Beverly Flaxington (Article)

I'm about to hire a salesperson for the first time. We need a go-getter who will find us new business. How do I avoid conflict between this new person and my advisors? I want everyone to work together. Do I wait for tensions to dissipate or are there things I can do to set up for success?

2012-07-17 Happy Clients - But No Referrals? by Beverly Flaxington (Article)

We have very satisfied clients. Our last client satisfaction survey showed a 98% 'high satisfaction' rate. However, we don't get many referrals. It's frustrating because we do everything to serve our clients well - and we ask for referrals. Why don't happy clients refer to us?

2012-07-10 Why Are Advisory Fees Lower Than They Have To Be? by Bob Veres (Article)

How much should you charge for your services? Is there any way to objectively calculate a fair price? Doctors, lawyers and accountants all charge relatively similar prices for their services. Why does the financial planning profession have fees that are all over the map?

2012-07-10 The Disruptive Rainmaker by Beverly Flaxington (Article)

We brought a new advisor into our firm two years ago - a rainmaker. In the beginning he added a lot of value and we were excited to have him. Lately he has been disruptive - boldly and publicly questioning some of the decisions my partners and I have made. Should I put up with the behavior?

2012-07-03 The Value of Planning by Bob Veres (Article)

How much do you charge for your services? When you look hard at the value you provide, the answer may be: 'not enough.'

2012-07-03 Regaining Confidence Amid Layoffs by Beverly Flaxington (Article)

We had to lay off a couple of people in our investment firm. As the founder and leader of the firm, the turmoil that resulted upsets me but I don't know what to do to give everyone confidence that I don't feel myself. Can you give me some tips about how to minimize the fear without being dishonest?

2012-07-02 Has Housing Stabilized? by Ryan Davis of Fortigent

In the past two weeks, several important indicators have illustrated a market that, while not quite in a state of recovery, appears to be stabilizing. This sentiment was echoed in the latest Beige Book released by the Federal Reserve, which reported, several Districts noted consistent indications of recovery in the single-family housing market, although the recovery was characterized as fragile.

2012-06-26 Ask Bev: Lessons from the Human Side by Beverly Flaxington (Article)

Here is the initial installment in what we hope will become a regular column from Beverly Flaxington, a practice management consultant. She answers questions from advisors facing human resource issues.

2012-06-11 China Toes a Delicate Balance by Chris Maxey and Ryan Davis of Fortigent

Markets posted their best returns of 2012 last week as investors anticipated additional policy action from global central banks. A series of events during the week heightened optimism that central banks would once again step in to support financial markets. In a Wednesday release, the European Central Bank did not cut its policy rate, but ECB President Mario Draghi said the bank was ready to act in response to the deteriorating state of the Eurozone.

2012-06-05 What Mark Zuckerberg Can (Still) Teach You by Dan Richards (Article)

As CEO, Mark Zuckerberg did many things right. But one particular aspect of his approach was critical to Facebook's success - and advisors can learn from it.

2012-06-05 Our Five-Year Anniversary by Robert Huebscher (Article)

Last month marked the five-year anniversary of our publication. I would like to share some of our accomplishments from the past year and our goals for the next.

2012-06-04 Alternative Mutual Funds See Continued Growth by Chris Maxey and Ryan Davis of Fortigent

During an especially difficult week, global equity markets were deep in the red, as the S&P 500 Index lost 3.2% and the Dow Jones Industrial Average fell 3.3%. There was no shortage of disappointing data during the course of the past week, ranging from weakness in the ISM manufacturing survey to an underwhelming May labor market report. It was such a bad week, in fact, that Bespoke Investment Group found that 18 of the 21 economic indicators released in the U.S. fell short of expectations.

2012-05-22 A 30-minute Investment that Landed Three New Clients by Dan Richards (Article)

On a recent flight to Chicago, I sat beside an advisor. We chatted about industry developments and the prospecting initiatives that advisors have been trying. Then he shared a story of a remarkable return from 30 minutes of his time.

2012-05-21 Markets Fall on Negative Europe Sentiment by Chris Maxey and Ryan Davis of Fortigent

Worries over the European sovereign debt crisis worsened this week as Greeces political instability increased concern that the country could depart the Eurozone. Greece saw a virtual run on its banks during the week, as depositors withdrew 1.2 billion in two days on fears of massive devaluation from a return to the drachma. While this represented just 0.75% of Greek deposits, it foreshadows a potentially larger crisis if a Greek Eurozone departure becomes imminent.

2012-05-15 Letter to the Editor by Various (Article)

A reader responds to Justin Locke's article, Why the Best Conductors Sent Us Home Early, which appeared last week.

2012-05-15 Earnings Seasons Recap: Is Corporate Strength Fading? by Chris Maxey and Ryan Davis of Fortigent

Strength in the corporate sector since the recession ended has been well documented. In the face of general economic malaise, record profits have been achieved through aggressive cost-cutting and low financing costs. This phenomenon has been one of the major pillars propping up the markets (with the other being central bank policy). Now with Q1 earnings season all but over, it is not unreasonable to question whether that corporate strength is fading. Initial impressions of first quarter earnings season were very favorable after the first big wave of earnings releases.

2012-05-08 Sentiment Readies for a Tumultuous Fall by Chris Maxey and Ryan Davis of Fortigent

Market sentiment has oscillated quite rapidly in recent months on the heels of dramatic market intervention by the ECB and shifting views of global economic stability. Sentiment is likely to remain unstable in the months ahead as investors grapple with any number of events, from elections in Europe and the US to the end of recent monetary easing efforts domestically. While markets have rallied substantially over the past six months, retail investors are maintaining a somewhat neutral view on their allocations.

2012-05-01 Is Now The Time To Brace For Another Volatile Summer? by Chris Maxey of Fortigent

In the latest week, the Federal Open Market Committee reiterated its stance that economic conditions are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014. While rates will remain low for now, the Fed will need to fend off other challenges in the months ahead, ones that could send investors racing for the beach sooner than normal. The biggest challenge for the Fed and the economy in the coming months is in the form of Operation Twist. The hope was that such actions would drive down interest rates and encourage borrowing of all forms.

2012-04-24 Is 2012 the Year for Hedge Funds? by Chris Maxey of Fortigent

Prior to the financial crisis, hedge funds were largely viewed as alpha generating, high return seeking, portfolio diversifiers. In 2008, that model came under attack from multiple angles fraud, illiquidity, and poor returns being the primary culprit. Ever since that time, the value proposition of hedge funds and alternative investments remains in question, causing some to wonder if this is a make or break year for the space. There is reason to think the environment for hedge funds and active managers is improving.

2012-04-20 Venerated Voices Q1 2012 Awards by Advisor Perspectives (Article)

We published our quarterly update for the Venerated Voices awards. Rankings were issued in three categories: The Top 25 Venerated Voices by Firm, The Top 25 Venerated Voices by Author and The Top 10 Venerated Voices by Commentary.

2012-04-17 Earnings on a Hot Plate by Chris Maxey of Fortigent

While the economy has displayed fits and starts of entering a sustained recovery over the past several years, there has been no doubt about the ability of companies to reshape their balance sheets and refocus their businesses. In the midst of first quarter earnings season, there are some concerns that the corporate hot streak will come to an abrupt end, but the reduction in earnings expectations since late last year appears to be favoring another positive earnings season.

2012-04-10 Three Lessons from an Unlikely Superstar by Dan Richards (Article)

Jeremy Lin's story is not about the failure by NBA teams to recognize his potential; rather it's about three key traits that enabled Lin to elevate his play far beyond what anyone in the basketball world expected. And those traits apply to advisors just as much as they do to NBA stars.

2012-04-10 China Experiencing Growing Pains by Chris Maxey and Ryan Davis of Fortigent

For most of the past two years, investors have been pre-occupied with the fiscal catastrophe in Europe and with good reason. However, the relative health of the worlds second largest economy arguably deserves more headline space. A year ago, Chinas stock market led the broader emerging markets down due to pervasive inflation concerns. Official figures reached as high as 6.5%, and some reports of pork and other food price inflation reached double-digit levels. Chinese authorities were forced to slow down the pace of their economy by raising bank reserve ratios and key lending rates.

2012-04-03 Have Investors Moved Past Europe? by Chris Maxey of Fortigent

At the end of 2011, the Long-Term Refinancing Operation brought a modicum of stability to financial markets in Europe.When coupled with the orderly default of Greece, the situation in Europe is seemingly on a road to more pleasant ground. Just as soon as investors place Europe in their periphery, however, problems once again begin bubbling to the surface.In recent weeks, the spotlight has turned to Spain, where unemployment is near 24% and the government is expected to run a 5.9% budget deficit for 2012.

2012-03-20 Are You Spending Too Much Time in the Brine? by Justin Locke (Article)

All my life, I have encountered people who claim that their insight into my clientele exceeds my own. But I've found a cheaper and much more reliable way to get that truly invaluable data.

2012-03-20 An Actively Passive Debate by Chris Maxey of Fortigent

The debate surrounding active versus passive investment management continues to attract a growing share of investor interest. After several years of underperformance, active managers are finally outperforming their benchmarks YTD, but it may be too late. Investors, frustrated with the underperformance and higher fees, are piling en masse into exchange-traded funds (ETFs) and other low cost solutions. The time for an all-passive solution may not be right now, but active managers are undoubtedly concerned about what the future may hold.

2012-03-06 Continued Struggle Between Borrowing and Lending by Chris Maxey of Fortigent

Nonfarm payrolls and the unemployment rate headline the weeks economic data. Consensus expects another 200K+ gain in payrolls and no change in the unemployment rate. Other major economic data of note includes the ISM Non-Manufacturing index and the US trade balance. Abroad, there are important releases on tap including Q4 EU GDP and EU retail sales. Both the ECB and Bank of England meet this week, but neither is expected to adjust their key interest rates. Other central banks meeting include Russia, Australia, Brazil, Poland, New Zealand, Indonesia, South Korea, Canada, Peru, and Malaysia.

2012-02-28 Oil Prices, Mixed Data Slow Market Gains by Chris Maxey and Ryan Davis of Fortigent

The continued march higher in oil prices is filtering its way down to consumers in a less-than-favorable way. By the end of the week, the average price for a regular gallon of gas was $3.65, 30 cents higher than the price one year ago. Consumers are all too familiar with the taxing effect of higher gas prices, particularly given the extreme run up early last year. Interestingly, the number of Google searches for gas prices recently overtook those for Greece, suggesting that the domestic economic situation is trumping consumers concern about an overseas shock.

2012-02-14 A Dejected Asset Class Finds Its Way in 2012 by Chris Maxey of Fortigent

Investor interest is acutely focused on the developed world, specifically Europe and the US. All the while, developing countries continue to be better positioned fiscally, with lower debt and better long-term growth prospects. Despite the outlook, stock markets in emerging markets are largely at the mercy of their counterparts in Europe and the US, suffering in lockstep as opposed to embracing the decoupling phase that was supposed to have begun in 2007. According to the IMF, emerging and developing economies grew 6.2% in 2011, compared to a 1.6% growth rate in advanced economies.

2012-02-07 What Advisors Can Learn from Eli Manning: How to Conquer the Real Threat to Your Success by Jack Singer, Ph.D. (Article)

I don't know Eli Manning personally. But I know a thing or two about what it takes to become a champion, as he did by winning the Super Bowl on Sunday night.

2012-02-07 Corporate Earnings Hit a Rough Patch by Chris Maxey of Fortigent

The week started slow, however, with a mixed personal income and outlays report from the Bureau of Economic Analysis. While consumer spending was flat in December, incomes grew 0.5% above expectations and the biggest gain since March. The lack of spending growth is concerning, but somewhat expected given stagnating wage growth. Spending to this point has largely been financed through savings, making Decembers income boost a much welcome improvement for consumers.

2012-01-24 A Five-Minute Strategy to Achieve Key Goals by Dan Richards (Article)

New research yields important insights on achieving change - whether it be losing weight or advancing your business. One surprise: A five-minute exercise dramatically raises the chances of hitting your goals.

2012-01-24 Risk Off, Risk On...? by Chris Maxey of Fortigent

Since the start of 2012, global risk markets have all but ignored the overhang of pessimism that frustrated the markets in 2011. For the most part, equity indices already surpassed their gains for all of last year. While such gains may ultimately prove sustainable, there remains a modicum of uncertainty that could rear its head quite suddenly, and quite viciously. In the meantime, an assessment of the investment landscape shows investors may have a legitimate reason for bullishness in the short term.

2012-01-17 A Society Moving Toward The Brink? by Chris Maxey of Fortigent

With economic growth stagnating, global indebtedness remaining stubbornly high, and unemployment refusing to budge, pressure on governments and ordinary citizens is mounting. Financial crises are notoriously difficult to recover from, but the longer-term sociological problems created by such severe declines in output pose a major headwind to the economy in 2012 and beyond.

2012-01-09 Corporate Profits Hit a Wall, But Stocks a Buy? by Chris Maxey of Fortigent

Equity markets finished their first week of the New Year with positive gains, with the S&P 500 and Dow Jones Industrial Average rising 1.6% and 1.2%, respectively. Those gains, and more, occurred in the first 30 minutes of trading on Tuesday, the first trading day of 2012. From there, markets traded choppily through the remainder of the week, as lingering problems in Europe dampened risk appetites. Investors returning from holiday break received more positive news regarding the US economy, particularly within manufacturing and employment.

2011-12-20 Economy Happy to Close Out a Forgettable 2011 by Chris Maxey of Fortigent

There are several economic indicators on tap for next week, highlighted by the third and final estimate for Q3 real GDP.No change is expected from Novembers estimate of 2.0%. Other items of note include housing starts, existing home sales, new home sales, personal spending, and the durable goods report. As mentioned previously, Wednesdays existing home sales report from the NAR will provide clarity on the size of the agencys five-year revision to home sales. This is a potentially significant event, depending on the size of the adjustment.

2011-12-13 What Happens If A Rising Tide Sinks Some Ships? by Chris Maxey of Fortigent

A multi-day summit in Brussels by European policymakers yielded an expected fiscal union between euro member countries. However, a key refusal by Britain undermined the credibility of the pact. Without unanimous agreement, the original European Union treaty cannot be altered, so a new intergovernmental agreement was created. Some question whether such an arrangement has the teeth to enforce budgetary discipline.

2011-12-06 What Are Investors Up To? by Chris Maxey of Fortigent

With markets ebbing and flowing and making it virtually impossible to differentiate up from down, it has become all the more difficult to determine what qualifies as an attractive investment. While equity markets rallied into the end of November, volatility remains well above its long-term average, causing most investors to question their equity allocations. It should come as no surprise, then, that individual investors are anything but confident in the latest rally. Macroeconomic headlines and excessive volatility are dampening even the most hardened investors faith in financial markets.

2011-11-30 Flex 5, a Tactical, Practical Portfolio for Todays Volatile Markets. by Charles Gelineau of PGA Financial

Volatility has increased dramatically and is expected to continue. It is an extraordinary drag on returns due to the disproportionate impact of losses versus gains. Traditional asset allocations are flawed 5 ways. Style-pure funds are inflexible with extreme exposure to systematic risk and no escape hatch.Flexible funds, by design, can go defensive or opportunistic resulting in better odds for attractive capture ratios. Flexible funds is a practical, tactical replacement for traditional allocations. With flexible fund portfolios, advisors can potentially Improve investment returns.

2011-11-29 The Best Way to End Client Meetings by Dan Richards (Article)

When it comes to leaving clients with a positive recollection of meetings, two things matter the most: 'peak events' - the highs and lows they experienced, and 'the end' - what happened at the conclusion of the meeting.

2011-11-29 Is 2012 Destined to be a Repeat OF 2008 for Banks? by Chris Maxey of Fortigent

Mounting concerns in Europe and the failure of Congress supercommittee weighed on investor sentiment during the holiday-shortened week. As expected, the congressional supercommittee failed to negotiate a $1.2 trillion deficit reduction by Wednesdays deadline. The move triggers automatic cuts to the federal budget starting as early as this year. Near-term effects are mostly in the form of program non-renewals for example, the expiration of 99-week unemployment benefits, the payroll tax cut, and other Recovery Act stimulus.

2011-11-22 Three Steps for Effective Client Meetings by Dan Richards (Article)

Unless you achieve a few key objectives, your client meetings will be unproductive. You need to calm your clients' nerves, reassure them about their portfolio and instill confidence that they're working with the right advisor. Here's a three-step process to make that happen.

2011-11-22 Transforming (not Overcoming) Objections by J. Jeffrey Spahn (Article)

Your first reaction to an unpleasant situation often makes things worse. By recognizing your emotions and learning to ask the right kind of questions, you can overcome even the most troubling objections from prospects and clients.

2011-11-22 The Domestic Economy Keeps Fighting for Growth by Chris Maxey of Fortigent

It is a shortened week due to the Thanksgiving holiday in the US, but that does not mean investors should tune out. The market will turn its sights on the governments super committee, which is looking less than super. The committee looks like it will not meet its target deadline of November 23, which will likely have negative implications for financial markets. The committee was supposed to find spending cuts that would reduce the deficit by $1.2 trillion over the next decade.

2011-11-15 Turning Threats into Opportunities by Justin Locke (Article)

Have you ever noticed how major opportunities look like threats when they first appear?

2011-11-15 In a World Dependent on Crude, is Natural Gas the Savior? by Chris Maxey of Fortigent

It will be a busy week in the US with reports on inflation, retail sales, industrial production and housing starts. Inflationary pressure is likely to show further signs of easing in October, particularly as food costs continue to stabilize. Retail sales were quite strong in September, but gains for October are expected to be more muted. Earnings season is winding down, with quarterly reports expected from UniCredit, Dell, Home Depot, Walmart, Target, Vivendi, Dollar Tree and Gap. The only major central bank to meet this week is the Bank of Japan, which is unlikely to change rates.

2011-11-01 Regulatory Armageddon by Bob Veres (Article)

Suppose you were somehow able to convince 40 advisors, who are all well-known thought leaders in the profession, to gather in the same room for a six-hour brainstorming session. The goal: to identify the single most important thing that the financial planning profession should be thinking about now. What do you think they'd come up with? Fasten your seat belts, because this may be the most important report you'll read all year.

2011-11-01 Just When You Thought Europe was Rescued, New Skeletons Emerge by Chris Maxey of Fortigent

Economic data in the US will receive plenty of attention this week. On Tuesday, the ISM Manufacturing Survey is released, with economists anticipating continued expansion in the manufacturing sector. Wednesdays ADP private payroll employment report will offer a taste of what is to come in Fridays nonfarm payroll employment report for October. Consensus expectations are for job growth of slightly less than 100,000 and an unemployment rate of 9.1%.

2011-10-25 Economy Continues to Surprise, But Inflation Offers a Scare by Chris Maxey of Fortigent

Equity markets continued fighting higher, with the Dow Jones Industrial Average gaining 1.4% and the S&P 500 Index increasing by 1.1% last week. Optimism from both Europe nearing an agreement on its debt problems, as well as positive earnings reports, pushed equity markets higher throughout the week. Since the start of earnings season, slightly more than 300 companies reported quarterly earnings figures. Out of those that reported, 63.7% beat consensus earnings estimates. That is a moderate improvement from the past two quarters, but somewhat below the 65% average since March 2009.

2011-10-18 Economic Data Receives Another Dose of Positive News by Chris Maxey of Fortigent

Not only was key economic data, such as retail sales, better than expected, but also the start of earnings season brought about a number of positive corporate earnings surprises.An important caveat is that analysts earnings estimates were routinely cut over the past several weeks, leading to a lowered bar and higher likelihood of upside surprise.Regardless, markets appear pleased by the news, at least for the time being. Over the latest week, each of the major indicators, excluding consumer sentiment, came in above consensus.

2011-10-11 The Economy Takes a Sudden Turn by Chris Maxey of Fortigent

A busy economic week brought much-needed relief for investors. With 75% of domestic economic reports beating expectations over the past two weeks, equity markets were able to find stable ground. Additionally, outside the US, new QE measures by the Bank of England and progress on the European sovereign debt situation bolstered investor confidence. Re-anchoring domestically, the news was largely positive across a range of data series, from manufacturing and services to labor. Similar to last year, economic data severely disappointed in the summer but is now showing improvement.

2011-10-04 Markets Warned of Impending Recession by Chris Maxey of Fortigent

In the latest week, economic data was mixed, but news on consumer income and spending raised concerns over the health of the all-important consumer sector. Even worse, a growing number of economists are highlighting the possibility of recession. One organization, the ECRI, went as far as declaring that recession was unavoidable and warned, theres nothing policy makers can do to head it off. Such dire forecasts do nothing to bolster economic or market confidence. The ECRI has accurately predicted prior recessions, including the most recent one in 2008.

2011-09-27 Markets Struggle to Reconcile Macro and Micro by Chris Maxey of Fortigent

It was a difficult week from a number of standpoints, not the least of which was the growing number of downside risks that rose to the surface. A broad number of financial markets broke down this week, including copper, the Hang Seng and precious metals. Struggles in those markets came from any multitude of reasons, including the acknowledgement of slower growth ahead from the International Monetary Fund and the US Federal Reserve.

2011-09-20 With the Economy Weak, the Fed Steps Up to the Plate by Chris Maxey of Fortigent

With the Fed potentially considering new easing measures this week, economists paid particular attention to last weeks inflation reports, looking for any clue that the Feds current programs are feeding higher inflation. Thus far, the Fed is in the clear, but there is budding inflationary pressure under the surface that is raising cause for concern. In August, the Consumer Price Index rose 0.4%, led by higher food and energy prices. That follows an equally strong increase of 0.5% in July. Consumer prices received a slight reprieve earlier in the summer, but that softness is dissipating.

2011-09-12 While the Economy Moderates, the Fed Mulls its Options by Chris Maxey of Fortigent

It will be a somewhat more active week as a number of economic releases are due, including the producer price index, the consumer price index, retail sales and industrial production. Additionally, the Treasury Department is set to auction $32 billion in 3-year notes (Monday), $21 billion in 10-year notes (Tuesday), and $13 billion in 30-year bonds (Wednesday). Earnings reports to follow this week include Best Buy, Diamond Foods, and Research In Motion.

2011-09-06 Time to Embrace a new round of Quantitative Easing by Chris Maxey of Fortigent

As we head into the fall, investors should prepare for a continuation of this summers volatility.While August is viewed as a challenging month for the markets, September reigns supreme as the worst month for market performance historically. Dominating the headlines this week will be an announcement by President Barack Obama on Tuesday regarding plans for boosting job growth and increasing budget savings. Across the globe, services PMIs will be released this week, and akin to the global manufacturing PMIs, declines are expected.

2011-08-30 The Economy is Stagnant, Are Banks to Blame? by Chris Maxey of Fortigent

On Tuesday, the S&P/Case-Shiller home price index will be released. That afternoon brings the release of minutes from the August 9 FOMC meeting, during which three individuals dissented. ISM manufacturing comes out Thursday. Economists believe it will fall into contractionary territory below 50, based on recent disappointing regional manufacturing data. By Friday, the much anticipated nonfarm payroll figures for August will be released. Expectations are low, especially considering the difficult economic headwinds faced in the past month.

2011-08-23 Germany's Stumble Threatens Appetite for Peripheral Support by Ryan Davis of Fortigent

Equity markets faced mostly negative economic data last week for both the US and abroad, putting a quick end to the market rebound that began the previous week. In Europe, Germanys GDP slowed markedly. The regions most powerful economy expanded by just 0.1% in Q2, the slowest since early 2009 and down considerably from 1.3% in the first quarter. It was also far lower than an expected 0.5%. This in turn weighed on Eurozone growth, which expanded just 0.2%. Slower growth than the tepid levels already anticipated puts further pressure on the deficit-plagued region.

2011-08-16 As the Economy bumps along, is a Recession on the way? by Chris Maxey of Fortigent

Last week, we learned the economy is continuing to struggle, but there was some slight improvement in jobless claims and retail sales. One area not improving is small business optimism. The National Federation of Independent Business reported that its Index of Small Business Optimism fell 0.9 points to 89.9 in July, representing the fifth consecutive monthly decline. Small businesses list poor sales, taxes and government regulation as their three most important problems. Consumers were also quick to echo that sentiment last week.

2011-08-10 S&P Drops a Bomb on an otherwise OK week for the Economy by Chris Maxey of Fortigent

Volatility will be the word of the week as the US is now entering unprecedented territory after being downgraded for the first time. Postulating what happens next is complete conjecture at this point. Investors should prepare for heightened volatility for the near future. Several central banks will meet this week, including those in Indonesia, Norway and South Korea. In addition, the Federal Reserve meets on Tuesday with no expected change to its 0-0.25% fed funds rate stance. Markets will closely watch for any language about the pace of the recovery or clues about its balance sheet.

2011-08-09 America's Tarnished Credit Rating by Bob Veres (Article)

In this letter designed to be sent to clients, Bob Veres explains the impact of S&P's downgrade of the US sovereign debt rating.

2011-08-03 A Deal Nears, but the Economy Remains Unstable by Chris Maxey of Fortigent

With fears of an impasse over the debt ceiling, equity markets faced a difficult week. Fortunately, leaders announced on Sunday evening that they reached a deal in principal to raise the debt ceiling. Many pundits have reiterated in recent weeks that a deal would be reached prior to the August 2 deadline, but markets and investors grew nervous over the past week. However, politicians stayed true to form. They assured the American people that, despite headlines from the past several months, Republicans and Democrats came together in the interest of their constituents to strike the best deal.

2011-07-26 Is the 'Consumer-Less' Era the new Normal by Chris Maxey of Fortigent

In a relatively light week of economic releases, market participants were pleased to see positive news beginning to build. Housing data in particular, excluding the existing home sales report, trended in the right direction. Housing starts unexpectedly jumped 14.6% to 629,000 in June. Strength was apparent across single- and multi-family housing units. Residential investment, an important component of GDP, will offer little support to second quarter GDP figures, but the upward momentum should put the economy on a better trajectory for the third quarter.

2011-07-19 Trust as a Management Tool by Justin Locke (Article)

Orchestral conductors are often compared to CEOs for their ability to inspire teamwork in organizations. But only a certain type of conductor - and CEO - provides the leadership that produces the best results.

2011-07-19 Since when did Debts and Deficits become One and the Same? by Chris Maxey of Fortigent

By early August, the US Treasury will run out of room under the debt ceiling and risks defaulting on its debt. There is growing concern, as evidenced by recent reports from Moody’s and Standard & Poor’s, that a deal will either not get done in time or will not suffice in fixing what is turning into a runaway fiscal freight train. Politicians are determined to play a quick and easy game of Russian roulette with the debt, not realizing that their attempts to undermine each other’s credibility in advance of next year’s elections are extremely dangerous.

2011-07-06 Economic Doldrums Overshadowed By Financial Markets by Chris Maxey of Fortigent

Economic data will rule the airwaves this week, especially the nonfarm payroll report on Friday. Economists are not overly confident that June was the month where employment growth finally kicked into high gear – a sentiment which is supported by relatively weak initial claims reports over the last four weeks. Central bank meetings will garner considerable attention this week as well. The European Central Bank alluded to the possibility of another 25 basis point rate hike last week and there is a strong likelihood that emerging market economies will also tighten policy rates.

2011-06-28 Extending the Extended Period of Volatility by Chris Maxey of Fortigent

Personal income and consumer confidence will start the week with expectations of slightly higher numbers. On Tuesday, Case-Schiller data is expected to show moderate declines in home prices for April relative to March. The Treasury will follow its regular auction schedule this week with auctions of $35 billion worth of 2-yr notes, $35 billion of 5-yr notes and $29 billion of 7-yr notes. All eyes will be on Greece on Wednesday and Thursday, when Parliament will vote on the latest austerity plan. Greece noted that they will default if a new loan tranche is not available by mid month.

2011-06-21 Women Want to Leave a Legacy by Kristan Wojnar and Susan Turnbull (Article)

Want to broaden the conversation with your wealthy female clients? Introduce them to an idea that will strike them as beautiful, sensible and meaningful - creating a personal legacy document.

2011-06-21 Markets, and Inflation, Take a Break by Chris Maxey of Fortigent

Equity markets endured six consecutive weeks of negative performance before eking out gains last week. The reprieve was welcomed but ultimately minor. Markets turned slightly more optimistic late last week on news regarding a new bailout package for Greece. Regardless of one’s opinion about the success potential of bailout packages, the uncertainty created by indecision has helped force markets lower in recent weeks. Economic data was decidedly mixed last week with some releases beating economists’ expectations and others continuing to disappoint.

2011-06-13 Money is Flowing, But Not to Where it is Most Needed by Chris Maxey of Fortigent

Bernanke gave a speech indicating that we might be facing a period of temporary weakness. He said, “growth seems likely to pick up somewhat in the second half of the year.” Whether Bernanke ultimately turns out to be right is uncertain, but some indicators this week supported that notion. One depiction of that phenomenon is the Citigroup Economic Surprise Index, that measures the number of economic releases surprising to the upside or downside. After reaching a peak in March, the ESI plummeted, reaching a low on June 3rd. Since that point, the index gradually began to rebound.

2011-06-10 Advisor Perspectives Acquires dshort.com by Advisor Perspectives (Article)

Advisor Perspectives today announced that it has acquired the web site dshort.com. Featuring daily commentaries on market trends and key announcements of economic indicators, the dshort site has grown to be a leading source of analysis since its creation by Douglas Short in 2005.

2011-06-07 Nasty Week Leaves Economy With More Than A Few Bruises by Chris Maxey of Fortigent

At the start of the week, regional and national manufacturing reports showed a deceleration in the manufacturing growth rate. It was widely expected that manufacturing activity would slow after reaching a peak of 61.4 in February, but few economists realized the severity of the slowdown in May. The ISM PMI dropped from 60.4 in April to 53.5 in May. In the past decade, no other month-to-month decline was as large as the one in May. The second largest fall occurred just after September 11, 2001 (-5.4) However, at that time, the economy was already in the midst of a recession, not a recovery.

2011-06-01 Recovery Shows Signs of Cracking by Chris Maxey of Fortigent

There was a limited amount of economic data released last week, and most of it turned out to be disappointing. The second revision to GDP showed the economy growing at an annual rate of 1.8% in the first quarter. Though the headline figure was unchanged, several important changes occurred in the data. Specifically, the Bureau of Economic Analysis stated that consumer demand actually rose at a 2.2% annual pace in the quarter, down from the 2.7% annual rate reported. Overall, GDP was weaker than feared in the first quarter as higher inventories and not consumer spending drove expansion.

2011-05-31 Doubling the Turnout to Client Events by Dan Richards (Article)

Many advisors are puzzled and frustrated by just how hard it is to get clients to show up when they organize events for them. Achieving great turnout isn’t easy, but it can be done - I recently spoke to an advisor who made a couple of simple changes to his annual event and doubled attendance as a result.

2011-05-24 Economy Enters A Soft Patch by Chris Maxey of Fortigent

Another volatile week resulted in the S&P 500 Index losing 0.3% and the Dow Jones Industrial Average falling 0.7%. Economic data last week continued to confirm that housing markets are sluggish and that manufacturing is entering a weak patch. Existing home sales unexpectedly fell in April. Economists expected sales of existing homes to reach 5.2 million in the month, but the actual tally for April was 5.05 million, down 0.8% from the previous month.

2011-05-17 Is Inflation in the Process of Peaking? by Chris Maxey of Fortigent

Investors turned away from the equity markets last week, as the S&P 500 Index fell 0.2% and the Dow Jones Industrial Average shed 0.3%. Stocks started the week in positive fashion, but an uptick in risk aversion on Wednesday weighed on markets. Market participants were caught off guard by unfavorable inflation statistics from China, a tightening of monetary policy in China and recent strength in the US dollar. At the beginning of May, the US dollar was nearing oversold territory and traders would likely capture profits in the weeks ahead. That is exactly what occurred.

2011-05-10 The Financial Impact of an Aging Demographic by Chris Maxey of Fortigent

A volatile week of trading resulted in the S&P 500 Index losing 1.7% and the Dow Jones Industrial Average falling 1.3%. However, those losses were tame relative to the rout experienced in commodity markets. According to the Wall Street Journal, crude oil dropped 14.7% last week, while the Dow Jones-UBS Commodity Index lost 9.1%. There was no single cause for the sudden risk aversion, but it appears that recognition of a slowing US economy, along with tighter monetary policy in developing economies, contributed to the renewed caution.

2011-05-03 Financial Markets Offer Conflicting Opinions by Chris Maxey of Fortigent

Another week of encouraging corporate earnings reports allowed the equity market to continue its recent strong run. On the housing front, the disappointing streak continued. New home sales increased from a seasonally adjusted annual rate of 270,000 in February to 300,000 in March, according to the Department of Commerce. Although the gain was sizeable at 11.1%, new home sales are mired at abjectly low levels. Homebuyers are finding favorable opportunities in the form of distressed properties, reducing the chance of a significant rebound in new home sales in the months ahead.

2011-04-28 Venerated Voices™ Update for the First Quarter of 2011 by Advisor Perspectives (Article)

Advisor Perspectives, a leading publisher serving financial advisors and the financial advisory community, has published a quarterly update to its 2011 Venerated Voices awards. Final results will be tallied at the end of the year. Rankings were issued in three categories: The Top 25 Venerated Voices™ by Firm, The Top 25 Venerated Voices™ by Author and The Top 10 Venerated Voices™ by Commentary.

2011-04-26 No Child Left Behind... Until They Are Teenagers, At Least by Chris Maxey of Fortigent

News of a potential downgrade to the US credit rating caused a sudden sell off in the equity markets, but positive earnings reports led to a rebound. By the end of the week, the S&P 500 index and the Dow Jones Industrial Average both closed higher by 1.3%. S&P took the unusual step of placing the US on credit watch negative, indicating that there is now a 1-in-3 chance of an outright downgrade to the US credit rating in the next two years. The announcement by S&P resulted in a severe equity market sell off on Monday morning before investors remembered S&P’s previous track record.

2011-04-12 Sentiment Creeps Back into Overly Bullish Territory by Chris Maxey of Fortigent

Over the past six months, actions by the Federal Reserve to purchase assets through its quantitative easing program played a major role in driving market prices. As the markets prepare to transition away from quantitative easing, investors are facing the prospects of a tougher market environment. The upcoming earnings season will go a long way in determining whether this recovery is ready to stand on its own.

2011-04-12 The Keys to Successful Client Appreciation Events by Jennifer Geoghegan (Article)

Even a couple of years ago, many firms would do a single client appreciation event in a year, writing it off as little more than a fun opportunity for clients and employees to get together, with no expectation of a return on their investment. Today, however, many advisors have told me that referrals through traditional pipelines are slowing. Instead, they have turned to events and found that they go a long way towards building trust with clients and prospects and driving new business.

2011-04-05 Employment Manufactures Another Month of Positive Growth by Chris Maxey of Fortigent

Equity markets surged into quarter end, with the S&P 500 index rising 1.4% and the Dow Jones increasing 1.3%. For the first time since Feb the S&P 500 increased in two weeks. After hitting a trough on Tuesday morning, several positive employment reports encouraged the equity markets to move higher. As expected, manufacturing activity had a deceleration, as the ISM Purchasing Managers Index fell from 61.4% in February to 61.2% in March. Readings above 50% are representative of expansion in the manufacturing sector. Although the index fell, it is still the third highest reading since 1990.

2011-03-28 A Central Bank Match by Chris Maxey of Fortigent

Equity markets donned the rally cap last week as the S&P 500 index finished higher by 2.7% and the Dow Jones Industrial Average experienced a 3.1% gain. Stability in the price of crude oil and improvement in Japan lent a helping hand to the markets, as did the announcement that AT&T would buy T-Mobile. On the domestic front, investors turned a blind eye to the slew of negative economic data. Housing, in particular, experienced the brunt of the disappointment. Existing home sales offered the first piece of bad news after falling 9.6% to 4.88mln on a seasonally-adjusted annual rate in February.

2011-03-22 Japan Update by Bob Veres (Article)

This letter, suitable for sending to clients, explains the consequences of the tragedy in Japan and how investors should gauge its economic impact.

2011-03-21 Inflation Ready To Make Its Grand Entrance by Chris Maxey of Fortigent

Stock markets struggled in recent weeks due to a host of macroeconomic concerns, from earthquakes in Japan to uprising in the Middle East. This is causing a move in the markets that is similar, but different to what is typical during the third year of a Presidential cycle. Generally, markets rally in the first portion of the year before trading essentially flat in the second half. In the first two months, markets were adhering to this same pattern, but the aforementioned macro concerns derailed that rally. This does not mean markets will be unable to stage a recovery.

2011-03-15 Consumers Right the Ship by Chris Maxey of Fortigent

A confluence of macroeconomic events created selling pressure during the week, sending the S&P 500 Index lower by 1.3% and the Dow Jones Industrial Average down 1%. Releases on the domestic economic situation continued to show positive momentum, ranging from improvement in retail sales to a pickup in consumer credit. There was some concern about weaker consumer confidence figures and deterioration in weekly jobless claims, but it was clear last week that consumer balance sheet deleveraging continues. Retail sales for Feb increased 1% from Jan for a total increase of 8.9% in 12 months.

2011-03-08 Will the Global Recovery be Brought to its Knees by Commodity Prices? by Chris Maxey of Fortigent

There is a dangerous trend developing in food and energy costs, one that threatens to derail the global recovery. Thus far, consumers are able and willing to accept higher commodity prices. With consumers still feeling the effects of the worst recession in nearly a century, though, there is only so much that people will be willing to tolerate and the second half of the year may be too far away, at least when it comes to crude prices.

2011-03-01 Women’s Views of Wealth and the Planning Process by Kristan Wojnar and Chuck Meek (Article)

Women don’t think like men, especially when it comes to money. As women control a growing share of wealth in the years ahead, advisors will need a new paradigm in their practice, one that reflects an emphasis on values over goals.

2011-02-28 When Inflation Fuels Deflation by Chris Maxey of Fortigent

Global macroecon concerns led to the sharpest weekly sell off in the S&P500 Index in three months. For the week, the S&P 500 Index was down 1.7% and the Dow Jones Industrial Average fell 2.1%. A multitude of catalysts were behind the selloff, including concerns about the situation in Africa and the Middle East, surging commodity prices, in particular crude oil, and finally, a feeling that equity valuations were moving into overbought territory. There were only a handful of important domestic economic releases last week, including several data points on housing and the state of the consumer.

2011-02-23 A Laughable Attempt at Cutting the Budget by Chris Maxey of Fortigent

In a sadly fitting tribute to the fiscal mismanagement occurring in Washington, D.C. these days, the National Christmas Tree, which stood in the same spot since 1978, was felled by high winds Saturday morning. Not to fear, park authorities had a contingency plan in place and a new tree is on the way. Unfortunately, politicians are not known for the same degree of contingency planning and last week’s budget proposals proved that we are in for a torrent of trouble.

2011-02-22 Winning New Business, Growing Your Firm by Michael Slemmer, CFA (Article)

How are advisors reaching prospects and winning new business today? What's working well for advisors as they seek to grow their businesses, and where are they finding challenges? To answer these questions, we conducted a survey in late November, 2010, aiming to learn the most common and successful business-building tactics for wealth managers, investment advisors and related professionals.

2011-02-14 Recovery Here to Stay with Equities Flashing Caution by Chris Maxey of Fortigent

Equity markets continue to melt higher, despite several unfavorable technical developments. The market began its recent rally in September of last year, with only a brief respite in November. Since that time, each pull back is used as an opportunity to pile more money into equities and with the Federal Reserve offering massive liquidity to all corners of the market, this phenomenon could potentially last longer than any are willing to admit.

2011-02-07 The Economic Recovery Pushes Ahead Despite The Strange Labor Report by Chris Maxey of Fortigent

Encouraging. Confusing. Disappointing. Mixed Bag. These were all terms used to describe the labor report for January. Ultimately, it may turn out that none of those terms are relevant and investors would be better served in pretending this report was a figment of our imaginations.

2011-01-31 Is Japan's Downgrade An Ominous Warning For The US? by Chris Maxey of Fortigent

Last week, Standard & Poor’s made the decision to cut Japan’s credit rating from AA to AA-. The timing of the decision was unusual as there was no sudden event in Japan that triggered the downgrade, but S&P cited mounting debt concerns and the lack of coherent strategy by the Democratic Party of Japan as major reasons for the concern. Japan was initially downgraded from AAA status in 2001, when debt to GDP stood at 135%. With the US well on its way to that same figure, is now the time to ring the alarm bell?

2011-01-25 Advisor Perspectives Announces First Venerated Voices Awards by Advisor Perspectives (Article)

Advisor Perspectives, a leading publisher serving financial advisors and the financial advisory community, today announced its first Venerated Voices™ awards, recognizing the market commentators who were most frequently read by advisors during 2010. Awards were issued in three categories: The Top 25 Venerated Voices™ by Firm, The Top 25 Venerated Voices™ by Author and The Top 10 Venerated Voices™ by Commentary.

2011-01-24 Was That The Correction? by Chris Maxey of Fortigent

Important economic data recently released concerns housing, which has provided both signs of encouragement and weakness in the past month. Existing home sales jumped 12.3% in December, to a seasonally-adjusted annual rate of 5.28mln. An uptick in mortgage rates, from a recent low of 4.17% in November, to 4.86% more recently appears to be encouraging buyers to enter the market before it is too late. Due to the strong showing in December, overall housing inventory fell quite considerably in the month, reaching its lowest point since March.

2011-01-18 Working Smart v. Working Hard: Your Most Important Resolution for 2011 by Dan Richards (Article)

Of the countless resolutions advisors can make in 2011, there's one that could have the highest payoff - to work smarter, by building regular 'thinking time' into your business.

2011-01-18 Rumble in the (Concrete) Jungle by Mariko Gordon (Article)

Investing, like boxing, has been responsible for more than a few black eyes and knockouts. Mariko Gordon applies lessons from the ring to your 2011 financial practices.

2011-01-18 Pundits Call For A Correction, But Where Is It? by Chris Maxey of Fortigent

Equity markets trended higher for the seventh consecutive week, raising concerns about the potential for a long overdue correction. The S&P 500 Index was up 1.7% and the Dow Jones Industrial Average rose 1.0%. Economic data proved to be somewhat mixed, but largely supportive of the move higher in equity prices. Retail sales, for instance, which reached an all-time high in December, increased 0.6% in the month, slightly below economists’ expectations for a 0.8% gain.

2011-01-10 Is a Sovereign Default on the Agenda for 2011? by Chris Maxey of Fortigent

Last year will unequivocally be remembered as the year the sovereign credit crisis unfolded in earnest. We were fortunate that no major sovereign defaults occurred during that period, but can we hope to be so lucky in 2011?

2011-01-03 New Year Fraught with New Risks? by Chris Maxey of Fortigent

With 2010 officially behind us, it is time to consider what risks and opportunities lay ahead for investors for 2011. Just as 2010 proved to be the year of the sovereign credit crisis, 2011 will not be forgotten as a year without its own potholes. From the economic side of the ledger, the biggest concern remains employment. Despite improving economic growth and a Federal Reserve that has shown a penchant for doing everything in its power to stimulate the economy, employment growth is virtually nonexistent since the recovery began.

2010-12-20 The Economic Recovery Heads For Greener Pastures Entering 2011 by Chris Maxey of Fortigent

For as much attention as inflation garners, it still appears to be a far off concern, for consumers at the least. Consumers should also understand that when the time for price increases does materialize, producers will be sure to make up for lost time and lost profits by funneling those increases through in rapid fashion.

2010-12-13 Bullish Sentiment Nears Extreme Levels As Investors Pile Into Equities by Chris Maxey of Fortigent

According to EPFR Global, a research provider that aggregates mutual fund flows, the week ending December 8th saw investors allocate $13.7bln of new capital to stocks funds while only investing $146mln in fixed income funds. Domestic bond funds experienced withdrawals of more than $1bln. Interestingly, money market funds picked up more than $32bln in new funds, the highest total in 22 weeks. Whether this is a wise time to jump back into equity securities remains a hotly debated issue but based on several metrics, this may not be the most opportune time to increase equity exposure.

2010-12-07 Markets Rebound Despite Poor Jobs Report by Chris Maxey of Fortigent

Earlier in the fall, pessimists were pointing towards a slowing ISM index as a surefire harbinger that a “double-dip” recession was on the way. That did not happen, fortunately, and manufacturing activity has since rebounded. Several subcomponents also provided encouraging data. In particular, the employment index finished the month at 57.5, a clear-cut sign that manufacturers are continuing to hire in order to keep up with growing demand. Somewhat less positive was the prices paid index, which remained elevated at 69.5 in November.

2010-11-29 Holiday Shopping Off to Enouraging Start by Chris Maxey of Fortigent

Early indications from the weekend shopping spree suggest that it was an overall success for retailers. Perhaps even more encouraging was the news that consumers would be less reliant on credit cards for purchases this holiday season.

2010-11-22 Europe's Latest Victim Enters the Spotlight by Chris Maxey of Fortigent

Now that Ireland’s domino is falling, what next? It turns out that the vultures are circling back to get another piece of Greece. Officials restated Greece’s budget deficit for 2009 to a whopping 15.9% of GDP. Couple that with recent rumors that Greece was hoping for a payment extension on its $150bln bailout and you have a recipe for further disaster. Not to be forgotten is Portugal, a country with a budget deficit of 9.3% of GDP in 2009. It may be a period of months before Portugal is forced to pay the piper, but make no mistake, eventually Portugal will face its day of reckoning.

2010-11-16 Is The Psychological Impact of QE2 Already Being Felt? by Chris Maxey of Fortigent

Economic data provided a degree of cautiously optimistic news, although it was a subdued week compared to the exhaustive news faced in prior weeks. There will be plenty of important economic data to key in on this week. October retail sales will be released on Monday and economists are expecting a relatively healthy gain for the month. Inflation will return to the forefront with the release of the Producer Price Index on Tuesday and the Consumer Price Index on Wednesday.

2010-11-08 Crossing the Threshold into a New World ... Or Not by Chris Maxey of Fortigent

There is no doubt that the events which transpired last week are without precedent. The long-term implications of quantitative easing by the Federal Reserve are entirely unknown. Should the Fed’s program conclude on schedule, private investors would need to step to the plate and replace the incremental demand lost from the Fed. It is unlikely private investors could replace that demand, which would lead to enormous upward pressure on interest rates.

2010-11-02 Why Client Events Aren't Appreciated by Dan Richards (Article)

Selective, by-invitation events targeted to top clients pay the biggest dividends in goodwill and additional business, but it's often hard to get bigger clients out to 'mass' events, says Dan Richards. The challenge is breaking through - when it comes to events for top clients, you need to pick one of two strategies.

2010-11-01 Investors Ready for a Ghoulishly Busy Week by Chris Maxey of Fortigent

Investors are wondering whether the recent market rally is built on a solid foundation or merely another in a long line of illusionary rallies should heed a bit of caution. Investors are largely bidding risk assets higher on the belief that the Federal Reserve will inject significant amounts of liquidity into the economy through a second round of asset purchases. This is an extremely dangerous and poor investment thesis.

2010-10-26 Investing $15 to Create an Unshakeable Client Bond by Dan Richards (Article)

Recently, Dan Richards hosted a roundtable lunch with a group of affluent investors. One attendee was a senior partner in a leading law firm and made a comment that revealed how his advisor turned a $15 investment into a lifelong client relationship.

2010-10-25 Is Austerity the Road to Prosperity? by Chris Maxey of Fortigent

Some prominent European leaders have touted the view that fiscal austerity actually supports short-term economic growth. The root of this thinking is a study by Harvard economists Alberto Alesina and Silvia Ardagna. A recent IMF report, however, questions the credibility of that study. The IMF concluded that austerity 'clearly' inhibits growth in the short term, while a fiscal consolidation equivalent to 1 percent of GDP leads on average to a 0.5 percent decline in GDP after two years, and to an increase of 0.3 percent in the unemployment rate.

2010-10-19 The Key Decision that Drives Million Dollar Books by Dan Richards (Article)

Dan Richards is often asked, "What does it take to succeed at the highest level?" by both new and not-so-new entrants to the financial industry. Some important insights into that question were provided to him by PriceMetrix, an industry leader in advisor productivity.

2010-10-18 Is Inflation Gone Today and Here Tomorrow? by Chris Maxey of Fortigent

Inflation is arguably not an issue for the time being, but with the Fed prepared to unleash trillions in additional liquidity, the outlook for inflation is more uncertain than ever. While yields on government bonds with a maturity between 2- and 10-years are flattening, the long end of the yield curve is widening dramatically. Long-term bonds exhibit the most sensitivity to interest rates and inflation, so this may be the first indication that inflation will pose a serious threat down the road. Investors and consumers alike should tread very, very carefully.

2010-10-11 Will the Holiday Shopping Season Boost Employment? by Chris Maxey of Fortigent

The National Retail Federation announced last week that it expects holiday sales to increase by 2.3 percent from last year. That is good news following a decline of 3.9 percent in 2008 and a meager 0.4 percent growth rate in 2009. In addition, consultant Challenger, Gray & Christmas estimates that the retail sector will add as many as 600,000 jobs over the next three months. That is better than the 501,000 jobs added during the holidays last year, but still well below the pre-crisis levels of more than 700,000.

2010-10-05 The Information Risk Premium: A New Danger to Client Portfolios by Bob Veres (Article)

Michael Aronstein, who manages the Marketfield Fund, connected two dots that most of us are aware of intuitively, but may not have consciously considered. As Bob Veres writes, Aronstein says that the primary challenge for investment advisors, financial planners and money managers today, which is different from the challenges you faced in the past, is the sheer amount of attention that investors are now able to pay to the ups and downs in their portfolios.

2010-10-04 Is it Feasible to Have Your Cake and Eat it Too? by Chris Maxey of Fortigent

Suggesting that the bond markets are in a bubble is dangerous at this point in the economic cycle. The intervention of the Federal Reserve into the government bond markets will inherently depress yields, while a lack of clarity around economic growth will encourage individuals and corporations to refrain from embracing excessive spending. This in turn could lead to stagnant growth and further desire to hold less risky assets. For now, bond investors can sleep well knowing that sometimes, just sometimes, you can have your cake and eat it too.

2010-09-27 The Chinese Conundrum That Will Not Go Away by Chris Maxey of Fortigent

The determination by the U.S. government to revalue China's renminbi is another smoke and mirrors tactic to divert our attention from the true crux of the problem, a faltering economy with little hope for regaining stable ground for at least the next several years. Even if China appreciates its currency, there is no guarantee that it will provide a boost to the American economy. Jobs that were long ago outsourced to China will simply move to the next-cheapest home; they will not return to the U.S.

2010-09-21 Consumer Spending Increases, But the Outlook is Cloudy by Chris Maxey of Fortigent

Is the global economic recovery about to grind to a halt? This column provides evidence on economic performance in the decades following macroeconomic crises. It finds much slower growth, as well as several episodes of 'double-dips,' as well as many instances of plain 'bad luck' that strike at a time when the economy remains highly vulnerable.

2010-09-13 All Aboard the European Debt Express by Chris Maxey of Fortigent

A recent paper from the Organization for Economic Cooperation and Development found that the European bank stress tests were less than stressful. This was because they only considered sovereign debt held on banks' trading books, not on banking books. The trading book of Greek banks, for example, only represents 6.7 percent of the overall Greek sovereign debt exposure on their books. The ignored banking book exposure represents the other 93.3 percent. On a cumulative basis, that translates into a sovereign exposure to Tier 1 capital ratio of more than 225 percent.

2010-09-07 The Battle Between Double-Dip and Slower Growth Rages On by Chris Maxey of Fortigent

Moderate optimism began to wash over the markets last week, as the S&P 500 Index rose 3.7 percent and the Dow Jones Industrial Average increased 2.9 percent. The rally was driven by several factors, including an improvement in the tone of various economic releases, primarily the much discussed labor report and a strong announcement on manufacturing. Based on releases from last week, it became more apparent that the economy is on track for a period of slower growth and that the possibility of a double-dip is still slim.

2010-08-30 The Structural Side of Cyclical Job Losses by Chris Maxey of Fortigent

The unemployment rate in the U.S. refuses to decline, despite a perceived recovery that began more than 12 months ago. While it is too early to declare whether structural problems are overtaking cyclical unemployment factors, it is obvious that labor markets in the U.S. are not as dynamic as in previous recoveries. Geographic immobility, economic uncertainty and a lack of skilled workers are elongating the headwinds faced by the economy, raising fears of a long and slow economic recovery.

2010-08-24 Bonds or Stocks - Who is Right? by Chris Maxey of Fortigent

Over the past several months, bond and equity markets have been on starkly divergent paths. Investors are growing increasingly concerned that perhaps the bond market knows something that the stock market is overlooking. One reason for this divergence is corporations. Emerging from one of the most severe recessions in the last century, companies are more than willing to hoard cash and favor a 'wait and see' approach before resuming expansion. Meanwhile, individual investors continue to sell equities in favor of fixed income securities.

2010-08-16 Is Hiring Set to Pick Up? by Chris Maxey of Fortigent

The decline in productivity during the first quarter has an interesting implication for both the corporate and consumer sectors. For corporations, it is an indication that profitability will remain strong as prices increased faster than costs. The gains were 2.4 percent and 0.2 percent, respectively. From the consumer standpoint, it appears that businesses have sucked every last ounce of productivity from current employees. If that turns out to be true, then corporations will hire additional workers, bolstering spending and encouraging further hiring.

2010-08-09 Is There Hope For the U.S. Consumer? by Chris Maxey of Fortigent

Consumers face a challenging environment in the second half of the year as stubbornly high unemployment and stagnant wages will limit their ability or desire to spend. The rapid improvement in corporate profitability should encourage hiring at the beginning of 2011, but the road will be long and bumpy. Meanwhile, a series of economic reports this week are likely to provide confirmation that economic growth is slowing.

2010-08-03 The Role of Taxes in Future Growth by Chris Maxey of Fortigent

Democrats who were previously in favor of allowing the Bush-era tax cuts to expire at the end of this year are suddenly swimming in the opposite direction, with several favoring extensions to the tax credit, given the poor economic backdrop. It is easy to find evidence to support both camps, but the simple reality is that economically restrictive policies will create a drag on growth at a time when the economy can ill afford them.

2010-07-26 Earnings Bolster Investor Confidence by Chris Maxey of Fortigent

Investors found reason to cheer last week after a round of impressive earnings reports buoyed confidence. The challenge for the broader economy, however, is that companies are becoming more profitable but are unwilling to pass on those gains to their respective employees. Instead, they are stockpiling cash at the expense of employee compensation. Moving into the second half of 2010, as executives begin solidifying budgets for the next fiscal year, we could see an uptick in hiring.

2010-07-19 The Inflation Debate Rages On by Chris Maxey of Fortigent

Last week's reports on the Consumer Price Index and the Producer Price Index only served to confirm what everyone already knows – any discussion of budding inflationary pressure is naïve at the moment. It is too early to write off a full-blown deflationary episode. In addition to weakness at the consumer and producer levels, the rate at which money changes hands (a common means of inflation) is near its slowest pace in years. Other problems facing the U.S. are a rising personal savings rate and ever-slower demand for commercial loans.

2010-07-12 The Crowd Zigs, Time to Zag? by Chris Maxey of Fortigent

When the crowd is zigging, it is best to trust one's contrarian instincts and zag. The ratio of bearish to bullish investors has steadily risen since early May, when concerns about sovereign stability began to unravel. In the week ending July 8th, 57 percent of individual investors reported being bearish in the intermediate term, against only 21 percent that hold a bullish stance. Investor sentiment is sitting at the lowest point since March 2009, and we all know what happened in the intervening months.

2010-07-06 Second Half Growth Will Slow, but is a Double-Dip Certain? by Chris Maxey of Fortigent

While it is easy to remain pessimistic on the state of the economy, especially following the events of 2008, the signs of a double-dip recession are simply not there yet. Slower growth is a given at this point, but this should not come as a surprise considering that it has been well-documented that previous stimuli would become a detractor to growth in the second half of 2010 and through 2011. Further stimulus packages are already being debated, even in the face of fiscal tightening by countries across Europe, as politicians face difficult battles at the polls.

2010-06-28 On The Merits of Hedged Equity by Chris Maxey of Fortigent

Despite positive predictions for the housing market, existing home sales fell in May. This may be due to a number of first time buyers who snapped up distressed properties, requiring a longer wait between contract acceptance and closing date. At the same time, new home sales plummeted and median home sale price fell. A glimmer of hope exists in this market as home prices are in the positive over a year-over-year basis.

2010-06-22 The New Roth Rules: Are Your Clients Converting? Survey Results – April/May 2010 by Michael Slemmer, CFA (Article)

Many fund companies are reporting high levels of Roth conversion activity, but to date there have been only anecdotal reports as to what investment advisors and wealth managers are experiencing with their clients and prospects. Here are the results from a survey we recently conducted that provides insights into trends in Roth conversions.

2010-06-22 Risk Assets Regain Favor But Risk Looms on the Horizon by Chris Maxey of Fortigent

The resurgence in risk appetite continued apace this past week, allowing the S&P 500 index and the Dow Jones Industrial Average to return to positive territory for the year. By the end of the week, the S&P was up 2.4 percent and the DJIA finished up 2.3 percent. The recession of 2008-2009 seems to have left a mark on many individuals, however, especially those in the baby boomer generation who are inching ever closer to retirement. This is fueling a reallocation away from equities in favor of bonds and income-producing securities.

2010-06-15 Strategy Advice from Apple and Google by Dan Richards (Article)

Last week Dan Richards conducted a webinar focused on the key decision that will drive advisors' long term success. Richards talks about what advisors can learn from the success of Apple, Google, Coke and Walmart.

2010-06-14 Equites Jump, But Uncertainties Persist by Chris Maxey of Fortigent

Equity indices logged solid gains this past week, with the S&P 500 index up 2.5 percent and the Dow Jones Industrial Average up 2.6 percent. The positive outcome was a result of light trading on Thursday and Friday, although it appears there is little conviction in the rally, with trading volume falling well short of the 50-day average over the course of both days. A measure of confidence from the Yale School of Management shows that individual investors are becoming disenchanted with the market, which makes them hesitant to buy equities during periods of correction.

2010-06-08 What’s Driving Investment Management Outsourcing? by Northern Trust Investments (Article)

Advisors who fully outsource their investment management want to free time for clients and grow their practice. But, as Northern Trust Investments' research explores, not all advisors are comfortable with full outsourcing. We thank Northern Trust for their sponsorship.

2010-06-07 China's Housing Bubble, To Be or Not To Be? by Chris Maxey of Fortigent

Market forecasters are worried about the state of the Chinese real estate market, with one publication after another declaring that an asset bubble is only moments away from popping. Clearly the recovery in the Chinese real estate market is impressive, perhaps curiously so, but the dynamics of the Chinese market indicate that an asset bubble is nowhere to be found…for now. From an affordability standpoint, the price-to-income index is on the rise, but well below the levels seen in the U.S., the UK and even India.

2010-06-01 Can the Consumer Continue to Drive Economic Growth? by Chris Maxey of Fortigent

Consumers shook off the cob webs and made an exceptional comeback over the past 12 months. They are still tenuously overextended, however, and are unlikely to provide a necessary boost to economic growth in the coming quarters without serious improvement in wage or credit growth. The household debt ratio remains above the long-term average, but is returning to a more appropriate level and indicates that the consumer balance sheet is slowly being realigned. Fortigent also comments on government responses to sliding stock prices, and the week ahead.

2010-05-24 Macro Woes Refuse to Abate by Chris Maxey of Fortigent

Despite the $1 trillion rescue package, Greece and other small European countries will probably still default on their debts. As it stands now, Greece faces two scenarios: default or endure years or even decades of deflationary growth. The root problem for the PIGS is lack of competitiveness within the euro area - an inevitable consequence of the one size fits all interest rate policy. Even if the PIGS governments could slash their fiscal deficits, the lack of competitiveness within the euro area calls for years of relative deflation.

2010-05-17 A Trillion Here, a Trillion There... by Chris Maxey of Fortigent

News was generally supportive of equity prices last week following the decision by European countries and the IMF to provide financial support to the euro area. Fears of a 'double-dip' recession are beginning to creep into popular lexicon, however, after the possibility was raised by the likes of economist Nouriel Roubini and Research Affiliates chairman Rob Arnott. Those fears appear unfounded in the near term based on the recent Philadelphia Fed survey and the current steepness of the Treasury yield curve.

2010-05-10 The Technicals Were Ripe For a Correction... by Chris Maxey of Fortigent

Last week's sell-off clearly resulted from a buildup of tension in technical factors coupled with overriding concern about the unfolding debacle in Europe. Numerous signs were flashing the caution light prior to last week. On the other hand, even though the technical factors were ready for a breakdown, a majority of the economic releases from last week suggest the recovery is still in its infancy. Investors should brace for another volatile week following the announcement that Europe will ready nearly $1trillion to bolster its capital markets.

2010-05-04 Four Words of Advice from a Top Advisor by Dan Richards (Article)

Last summer, Dan Richards talked to a thirty-year veteran of the business who's consistently ranked as a top advisor. The week before, he'd talked to a group of rookies just entering the business. In the question and answer period, he was been asked about the single most important thing he learned over the course of his career.

2010-05-03 Greece Enters the Rearview Mirror by Chris Maxey of Fortigent

Last week, Standard & Poors downgraded the credit ratings of both Greece and Portugal. Citing the blatantly obvious, S&P pointed to Greece’s 'political, economic and budgetary challenges' as the reason for the downgrade. More troubling for holders of Greek debt was the revelation that S&P only expects a recovery between 30 percent and 50 percent of capital should Greece be forced to restructure its debt. The recently finalized bailout from the IMF and European Union will stave off those concerns for the time being, but Greece will not be out of the clear for another several years.

2010-04-27 Investing Insights from Doctors by Dan Richards (Article)

Dan Richards works out in the early mornings with a psychiatrist, who recently forwarded an article in the New York Review of Books by Jerome Groopman, a physician and frequent writer on the challenges of modern day medicine. As Dan read it, he was struck by the parallels between the things that cause doctors and investors to go wrong.

2010-04-26 Markets Resume Upward Momentum by Chris Maxey of Fortigent

It is clear that more and more people are becoming cautiously optimistic about the recovery unfolding around the globe, but a number of risks remain unresolved and will likely stay that way for years to come. That should provide plenty of fodder for both economic pessimists and optimists. Investors should brace for a bevy of news from every angle this week. The Federal Open Market Committee will meet on Tuesday and Wednesday to discuss the latest state of the economy. Expectations are for the fed funds target rate to remain within a range of 0 percent to 0.25 percent.

2010-04-20 A Simple Step to Get More from Your Day by Dan Richards (Article)

Many advisors struggle to get everything done that needs doing. If you're in that category, consider following the example of one successful advisor Dan Richards talked to recently ... and put a dollar value on every hour of your time.

2010-04-19 Demographic Trends for the Long Term by Chris Maxey of Fortigent

The world is entering a period of rapid aging unlike any we have previously seen. According to a recent report by Neil Howe and Richard Jackson there are several key implications due to an aging population. As populations age, decreased mobility and adaptability will restrain economic growth and entrepreneurship, leading to higher public deficits as governments shoulder a greater percentage of health and retirement costs. Fortigent also examines the impact of the SEC investigation of Goldman Sachs on equity markets, and the week ahead.

2010-04-13 Today’s Number One Way to Demonstrate Your Value by Dan Richards (Article)

Advisors provide the greatest value by being an emotional anchor for clients- keeping the highs from being too high during times of untrammeled optimism, such as we saw in 2000, and the lows from being too low during periods of absolute pessimism, such as we saw a year ago and in many cases still see today. Playing that role takes more than just having an opinion - you need credible evidence to back you up, which Dan Richards offers.

2010-04-12 Is the Renmibi Merely A Distraction? by Chris Maxey of Fortigent

It may be convenient to assume that a revaluation of the Yuan would lead to a readjustment of the US trade balance, but it is more likely that production would merely shift to the country with the next lowest costs. Gains in Chinese imports in the early 90s came at the expense of imports from other countries. In addition, politicians fail to recognize that many manufacturers in the US import production inputs from China, and so a currency revaluation would directly affect their ability to remain competitive. Fortigent also comments on rising equity markets, and the week ahead.

2010-04-06 A Q1 Letter to Send Clients by Dan Richards (Article)

Dan Richards provides the latest in his very popular series of quarterly letters for advisors to send to their clients. This Q1 2010 article combines the attributes he considers essential: a balanced outlook, candor, short enough for clients to get through yet long enough to be substantial, fact-based, and customizable to your own voice.

2010-04-06 Emerging Markets: High Growth does not mean High Returns by Dan Richards (Article)

Recent research explores the return payoff of investing in emerging markets such as Brazil, Russia, India and China, writes Dan Richards. Contrary to popular beliefs, investing in high-growth emerging markets has produced inferior returns to those obtained from slower growth economies.

2010-04-05 Half Empty or Half Full? by Scott Welch of Fortigent

Global equity markets closed out the quarter well, with all major world indices except China posting positive quarterly performance. Earnings improvements, dramatic P/E expansion and a slowly recovering global economy all contributed to the run-up. Several potentially dark clouds, however, float across an otherwise sunny investment sky. One is simply a function of the extended market rally and corresponding expansion in market P/E ratios. By several indicators, the market seems to be veering into over-valued territory. Fortigent also comments on muted but real GDP growth, and the week ahead.

2010-03-31 March Madness Trickles Into Housing Markets by Chris Maxey of Fortigent

As much as we would like to assume that a 30 percent peak-to-trough decline in home prices returned housing prices to fair value, that may not be the case. Housing markets are proving that an endless supply of liquidity can only mask underlying weakness for so long. Without jobs, no amount of principal forgiveness or interest rate reduction will allow homeowners to suddenly begin paying their mortgages again. Fortigent also comments on the IMF's plan to back Greece's debt, the new Federal Reserve public relations tour and the week ahead.

2010-03-30 Surprising New Research on Diversification from Emerging Markets by Dan Richards (Article)

Historically there have been two reasons to invest in emerging markets: the promise of higher returns that come with faster growing economies, albeit with greater volatility, and the prospect that emerging markets will offer diversification from the performance of stocks in developed economies. Dan Richards reports that new research into the impact of global diversification, though, has produced some surprising results.

2010-03-23 Hard Lessons from a Lost Account by Dan Richards (Article)

A couple of weeks ago Dan Richards talked to an investor who had recently switched advisors - and who provided an example of the stress that investors experience when they're not sure whether their advisor is really on top of their financial affairs. "What I look for are people who are proactive and are always thinking about my situation so that I don't have to," an investor told Richards. "That's what I look for in my accountant, that's what I look for in my lawyer - and that's what I look for in my financial advisor."

2010-03-22 Inflation Benign For Now by Chris Maxey of Fortigent

Equity markets posted gains last week on news that inflation was muted and that the Federal Reserve would continue holding down interest rates at low levels for an extended period. The core consumer price and producer price indices rose just 0.1 percent in February, and the Fed's target federal funds rate remained between 0 and 0.25 percent. Leading economic indicators, however, have taken a weaker turn in recent weeks. Negative contributions from a shorter manufacturing workweek and falling stock prices were the biggest detractors.

2010-03-16 How a Small Change Made a Big Difference by Dan Richards (Article)

Dan Richards says that when advisors think about ways to drive their business forward, they often look for dramatic initiatives that hit the ball out of the park. Sometimes, though, it is a seemingly mundane change to your routine that delivers the biggest successes. We also have a link to a webcast of this article.

2010-03-15 Will Exports Set Us Free? by Chris Maxey of Fortigent

A number of reports released in the past several weeks confirmed that global trade is rebounding sharply from its 2008/09 lows. Relying on exports to drive economic growth is a perfectly plausible strategy, but final demand in many of the developed economies is unlikely to return to its previous highs in the near future. Maxey also examines the failure of small businesses to join the recovery, and the week ahead in economic news.

2010-03-09 Lesson\'s from an Investing Time Machine by Dan Richards (Article)

Time travel is every investor's fantasy - imagine if you could go back forty years and make investment decisions, knowing then what you know now. That's precisely the opportunity that Dan Richards gave a group of investors one recent evening.

2010-03-08 Economic Data Improves Gradually by Chris Maxey of Fortigent

The Federal Reserve Beige Book confirmed that the economy shows signs of expansion, but that labor markets show only tentative signs of improvement. The S&P 500 went up 3.1 percent and the Dow Jones Industrial average increased 2.3 percent after last Friday's employment figures were not as bad as expected. Real estate activity is picking up, but officials are still apprehensive about what will happen when the home-buyer tax credit expires at the end of April. Maxey also looks at this week's upcoming events and releases.

2010-03-02 Nine Essential Lessons from Olympians by Dan Richards (Article)

For the past two weeks, the world's eyes were on the Winter Olympics in Vancouver, focusing on those athletes who excelled, pulling away from the pack with multiple medals. Watching the Olympics, however, isn't just about athletes achieving their goals. As Dan Richards writes, financial advisors looking for guidance on hitting their own goals can take away nine important lessons.

2010-02-23 Rethinking the Fundamentals of Client Communication by Dan Richards (Article)

Dan Richards says advisors need to fundamentally rethink both the information they communicate and - just as importantly - how they communicate. Changing these two key dimensions of your communication strategy - what you send clients and how you send it - will be critical to future success.

2010-02-22 Markets Gain on Improving Sentiment by Chris Maxey of Fortigent

Equity markets settled down tremendously this past week after a week of volatile trading, posting a 3 percent gain for the S&P 500 index. Subsiding fears about the impact of Greece on global markets support market gains. The CBOE Volatility Index fell in February to 20 from a high of 27. Maxey also comments on mortgages, inflation, and upcoming data releases.

2010-02-18 Just When We Thought They Were Out... by Chris Maxey of Fortigent

Equity markets were still oversold based on a number of momentum and sentiment measures last week as buyers pushed the both the S&P 500 and the Dow Jones Industrial Average indexes to volatile 0.9 percent gains. Headlines this week should center on Greece\'s bid for explicit financial support from other Eurozone members, as well as a slew of new economic data.

2010-02-16 Seven Steps to Making 2010 a Breakthrough Year for your Business by Dan Richards (Article)

Dan Richards says many advisors started the year full of enthusiasm and ambitious objectives, yet at the end of January felt bogged down and out of steam. Despite starting with good intentions, the difficulty is that we quickly get caught up in the day-to-day demands on our time, and Richards offers a seven-step plan to overcome this inertia.

2010-02-09 The China Conundrum by Dan Richards (Article)

Few issues divide investors today more than the investment merits of China, despite that country's tremendous potential. China's strong economic performance through the global financial crisis has reinforced this divide. Dan Richards looks at the cases for and against investment in China, and offers his own opinion.

2010-02-08 Are the Markets Oversold? by Chris Maxey of Fortigent

Fortigent senior analyst Chris Maxley says equity markets are quickly approaching oversold territory. The S&P 500 lost a mere 0.7 percent last week despite heightened market volatility. Sovereign credit issues continue to loom over markets, and improved earnings are still not inspiring traders.

2010-02-02 2010 Off to a Tepid Start by Chris Maxey of Fortigent

This is a review of last week’s market activity and economic data announcements, with a focus on the GDP announcements from the UK and the US.

2010-02-02 A Question that Motivates HNW Prospects by Dan Richards (Article)

Dan Richards was asked whether he has any insights as to some great questions or strategies to get HNW prospects' attention and ultimately recruit them as clients. He provides the answer.

2010-01-26 Punctuated Equilibrium by Dan Richards (Article)

Dan Richards says we're dealing with a more fundamental issue than the recent market turmoil. "We're going through one of those rare periods of ground-shaking change that have taken place throughout history, something that was in the works well before last fall's market excitement," he says, and explains how advisors should deal with more demanding customers, new technology and global competition.

2010-01-19 Ten Tips to be More Likeable by Dan Richards (Article)

When Dan Richards ask advisors about what it takes to attract and retain clients, they give him answers like above average returns, preserving capital in tough markets and strong communication. Those are all true - to these can be added delivering strong value and having clients trust your competence and integrity. One other factor is often overlooked, however - and that's likeability.

2010-01-12 Competing for Referrals by Dan Richards (Article)

In past articles, Dan Richards has discussed how to get prospects off-the-fence when they are thinking about leaving their advisor - by providing concrete proof as to why they would be better off with us than where they are now. Now, Dan provides a strategy to use when you are competing with other advisors for referral business.

2010-01-05 A Lesson from Lawrence of Arabia by Dan Richards (Article)

Everyone has a favorite movie scene, and Dan Richards' comes from his all-time favorite movie, Lawrence of Arabia. Dan explains how the lessons from that classic movie apply to the advisory profession.

2010-01-05 Another Sample End-of-Year Letter by Bob Veres (Article)

Bob Veres provides another of his sample end-of-year letters as part of the new client service he is introducing.

2009-12-29 End-of-Year Letter Templates by Bob Veres (Article)

Bob Veres is the editor and publisher of Inside Information, a publication focused on practice management and related issues for the financial planning profession. He just introduced a new monthly service, Client Articles, which will contain articles (and cartoons) that can be sent to clients, for example as part of your quarterly newsletters. He provides two sample letters.

2009-12-29 The Best Way to Thank Clients for Referrals by Dan Richards (Article)

What's the best way to say thank you when you get a new client as a result of a referral from someone with whom you already work? Dan Richards says sending the typical thank you gift is a mistake, and offers some advice for gifts that will make a lasting impact.

2009-12-22 Six Words that Open the Door to Accountant Referrals by Dan Richards (Article)

Put together a list of the things that frustrate advisors targeting high-end clients and roadblocks to referrals from accountants are sure to be close to the top. Successful advisors recognize the power of a recommendation from a HNW prospect's most trusted advisor, and Dan Richards reveals the six words that facilitate those referrals.

2009-12-15 A Template for a Year-end Letter by Dan Richards (Article)

Many advisors have told Dan Richards they receive a positive response from the quarterly review letters they've sent over the past year based on the templates he has provided. Here's a template that can be a starting point for a year-end review letter.

2009-12-08 Cleaning up Messes by Dan Richards (Article)

Whether it's a phone call to a difficult client, a meeting with a retiree whose portfolio has been hit hard, a tough conversation with an underperforming staff member or getting through a mountain of filing, most of us have at least one issue on which we have been procrastinating for weeks, months, maybe even years. Dan Richards gives some tips for dealing with tough issues.

2009-12-08 Attracting Clients through Event Marketing by Jason Lampa (Article)

When he meets with financial advisors, Jason Lampa always asks them whether they have integrated event marketing into their strategic marketing plan. In this guest contribution, he writes that rarely are such programs part of a firm's overall marketing strategy; moreover, most advisors have no process in place to execute an event marketing plan.

2009-12-01 Avoiding the Black Hole of Business Planning by Dan Richards (Article)

This month, many advisors are working on next year's business plans. For many, those plans will end up like a black hole in space - lots of energy will go in and little or nothing will come out. Dan Richards shows how to avoid getting sucked into this black hole.

2009-11-24 Tapping into Today’s Number One Client Concern by Dan Richards (Article)

Larry Porcelli, the head of the private client group for US fund giant BlackRock said that their research shows that 70% of Americans are willing to move their accounts if another firm or advisor offered expertise on constructing portfolios to avoid running out of money. Dan Richards identifies two things advisors need to do to capitalize on this opportunity.

2009-11-17 Client Gifts that Stand Out by Dan Richards (Article)

Having trouble with ideas for holiday gifts for your clients? Dan Richards offers four strategies for selecting a gift with a meaningful impact.

2009-11-10 Using Case Studies to Make Your Case by Dan Richards (Article)

Case studies rank as one of the most effective ways to tell your story to prospects. As Dan Richards writes, well-written case studies can be more persuasive and memorable than the typical marketing material which advisors use with prospects.

2009-11-03 Five Steps to an Effective Portfolio Review by Dan Richards (Article)

Even with the recovery in markets since March, given client losses in the last two years this can still be a tough time to conduct portfolio reviews. Dan Richards provides a five-step approach to effectively conducting those reviews.

2009-10-27 The Power of Proactive Client Calls by Dan Richards (Article)

Dan Richards often asks advisors how many proactive calls they make to clients in the average day. The most common response is one or two ... and often the answer is zero. Many advisors underestimate the impact of proactive calls on clients.

2009-10-20 Three Ways to Inspire Clients by Dan Richards (Article)

Given the beating their portfolios have taken and the general mood of skepticism, often your goal when meeting with clients is to have them leave feeling more optimistic and upbeat about their future prospects and in particular about your role as their advisor. Dan Richards offers three ways to uplift your clients' spirits, while confronting today's crucial issues and building your credibility.

2009-10-13 Work Smart by Building Thinking Time into Your Day by Dan Richards (Article)

Consistently committing the time to think critically can lead to a dramatic boost in overall productivity. So how do we go about ensuring we're "working smart"? Dan Richards offers five opportunities to build thinking time into your business - you can do this annually, quarterly, monthly, weekly ... or even daily.

2009-10-06 A Quarter-End Letter to Send Clients by Dan Richards (Article)

Last fall, Dan Richards began posting quarter-end letters that advisors could adapt for their own use. Many advisors have told him that they have received an outstanding response to the letters they sent as a result, and Dan provides a template for a third-quarter letter.

2009-09-29 Turning Intention into Action by Dan Richards (Article)

Dan Richards' recent article, A Wakeup Call for Advisors: Turmoil at the Top of the Market, drew by far the largest response of any his articles in the last year and a half. Focusing on a number of recent articles on affluent investors leaving existing advisors, the article laid out five strategies to respond to this trend. Of course, laying out the strategies is the easy part - it's acting on them that's tough - and Dan offers suggestions for advisors looking for a way to prioritize their action plan.

2009-09-22 Communicating in a Sound Bite World by Dan Richards (Article)

Advisors today operate in a very different world from twenty years ago. Dan Richards discusses one of the most significant changes - the shortening of attention spans - and the resulting shift in what it takes to communicate effectively.

2009-09-15 Practical Advice for Students Entering University by Dan Richards (Article)

If you have clients with children heading off to college or university this fall, consider emailing these tips which Dan Richards provides, both for them to read and perhaps to pass on to their children. Chances are those tips will be particularly appreciated where kids are leaving home and living on their own.

2009-09-08 Tapping into Your Prospect’s Hot Buttons by Dan Richards (Article)

Experienced advisors know the importance of identifying and responding to the emotions that drive client's and prospect's behavior - and tailoring the way they interact with each individual's hot buttons. Dan Richards discusses how you can simplify your clients' lives with respect to communication, and provide a valuable service at the same time.

2009-09-01 Listening for the ECHO in Client Calls by Dan Richards (Article)

In the course of a typical week, all advisors and their support teams have lots of routine telephone interactions with clients. At a recent roundtable for advisors, a top producing advisor told Dan Richards about a simple step he'd implemented that significantly increased the mileage from those calls.

2009-08-25 The Case for Optimism by Dan Richards (Article)

Only a few months ago, economist's doomsday scenarios caused widespread concerns that we were about to revisit the Great Depression. That consensus view on the economy has shifted remarkably quickly, with a much more positive outlook for the immediate period ahead. Dan Richards cites two recent articles making a persuasive case for optimism.

2009-08-18 An Alternative Way to Conduct Client Reviews by Dan Richards (Article)

Experienced advisors know there's no substitute for face-to-face meetings to review portfolios, especially in times such as these. In some cases, however, a client's location or schedule make it impossible to meet face-to-face - in those cases, Dan Richards offers an alternative method to conduct that review.

2009-08-11 Behavioral Finance Traps En Route to Investment Success by Dan Richards (Article)

To understand why investors fail to stick to their plans, economists and academics are studying the rapidly growing field of "behavioral finance," analyzing the patterns of behavior that cost investors serious money. Dan Richards looks at the current research and its implications for investors and advisors.

2009-08-04 A Wakeup Call for Advisors: Turmoil at the Top of the Market by Dan Richards (Article)

Recent articles in Business Week, the New York Times and the Wall Street Journal describe turmoil among high-net worth investors and have profound implications for financial advisors. Dan Richards offers a five-point response for advisors to counteract investor disillusionment with their current relationship.

2009-07-28 Three Powerful Words in Client Conversations by Dan Richards (Article)

Some words are particularly effective when talking to clients and prospects, says Dan Richards. For example, when it comes to advertising and direct mail, nothing beats the word "Free" in a headline. Among the words used by advisors, arguably the single most powerful phrase is "Tell me more."

2009-07-21 Three Easy Steps to Effective Networking by Dan Richards (Article)

For some, breaking the ice when meeting someone new is a daunting task. Many advisors have confessed to Dan Richards that they are not natural salespeople and aren't comfortable talking to people they don't know. Here are three keys to networking effectively when you're in a setting where you're meeting new people.

2009-07-14 Three Steps to a Referral Conversation that Works Today by Dan Richards (Article)

Recommendations initiated by someone looking for an introduction to an advisor doing a good job for a friend have always been an important driver of referrals, but this will be especially true this summer. In some instances, your clients will be asked outright how they feel about the job you've done and if they are comfortable recommending you. Dan Richards provides a three-step plan to make this happen.

2009-07-07 The True Cost of Volatility by Dan Richards (Article)

Most advisors and investors hate volatility - the up and down hits to clients' long term goals. (To be more accurate, we hate the downs - the ups we don't mind so much.) Dan Richards discusses the big price clients pay for that volatility - not just stress and lost sleep at night, but volatility in portfolios that induces behavior that costs many investors serious money.

2009-06-30 In Search of Unconventional Thinking by Dan Richards (Article)

Astute investors search out insights that aren't reflected in stock prices. For this to work, though, you have to be prepared to differ from the pack and defy conventional thinking - once an idea enters the mainstream, it no longer gives you an edge. Dan Richards discusses some important positive ideas that unconventional thinking elicits from the news and analysis presented in traditional media.

2009-06-30 Getting Prospecting into First Gear by Dan Richards (Article)

"A year ago, all kinds of new clients were coming on board - I was firing on all cylinders" a veteran advisor told Dan Richards recently. "Today, I'm having trouble getting prospecting into first gear. I feel like I'm stuck in a rut and I'm not sure how to get out." Dan sketched out a plan for two low cost prospecting lunches, with six simple steps taking ten to twelve hours per lunch.

2009-06-23 A Mid-Year Letter to Your Clients by Dan Richards (Article)

Even with the 40% market recovery since March, many investors are still very anxious and looking for guidance and direction from their advisors. One way to respond to this demand is by sending clients a mid-year letter with your thoughts on where we are today and an outlook for the period ahead. Dan Richards has prepared a template for you to use.

2009-06-16 Tackling Today’s Number One Client Challenge by Dan Richards (Article)

Talk to advisors about the challenges they face today and you'll get a lengthy list - often headed by unhappy clients, reduced income and a struggle to stay positive and productive. While these are all serious issues, says Dan Richards, for most advisors they are dwarfed by the number one obstacle to getting business back on track - rebuilding investor confidence in our trust and integrity.

2009-06-09 Thirty Seconds to Better Client Conversations by Dan Richards (Article)

We're all looking for ways to make the time we spend talking to clients on the phone and in meetings more productive. Recently, Dan Richards spoke to an advisor who made one small change to his routine that led to better results from client interactions. With an investment of just thirty seconds before each call and meeting, he has seen a meaningful change in outcomes.

2009-06-02 Building Personal Connections with Clients by Dan Richards (Article)

Over the past few months, we've all read about "the new frugality" that has become part of our culture. Consumers are rethinking their spending plans - yielding some surprising results about how people decide their priorities in tough times. Dan Richards looks at the implications of this trend for financial advisors.

2009-05-26 Developing an Optimistic Outlook by Dan Richards (Article)

An optimistic outlook is the most important trait advisors can bring to the job. Overcoming a negative mindset is the necessary first step that makes everything else we do possible. Dan Richards shows how to put explicit strategies in place to stay motivated - for most of us, motivation doesn't happen unless we make it happen.

2009-05-19 Turning Corporate Downsizing into Prospecting Success by Dan Richards (Article)

Optimists in the investment business claim "Crisis breeds opportunity." Dan Richards looks at the worst consequence of the current crisis - corporate downsizing - and shows how advisors used five different approaches to create opportunities while helping those faced with job losses.