Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that President-elect Trump plans to appoint former Securities and Trade Fee (SEC) Commissioner Paul Atkins as the following SEC chair, changing Gary Gensler. Atkins’ earlier time on the fee and newer statements counsel that he’ll take a extra circumspect strategy to monetary regulation in comparison with Gensler and will look to restrict disclosure necessities (together with these associated to advisor compensation for the sale of sure monetary merchandise) in addition to the quantity and dimension of penalties issued in opposition to SEC-regulated companies. Although in the end, whereas a slower tempo of regulation could be a aid for monetary advisors who confronted a wave of proposed guidelines throughout Gensler’s tenure, a extra hands-off regulatory strategy might open the door for abuses that might in the end decrease the popularity of the monetary recommendation trade as an entire within the minds of shoppers (although a lighter burden of regulatory enforcement on RIAs themselves might encourage extra advisors to maneuver to the RIA channel, maybe accelerating the shift in the direction of fiduciary recommendation?).
Additionally in trade information this week:
- A current survey discovered that monetary advisors who’ve lately switched companies are overwhelmingly happy with their transfer, with agency expertise taking part in a key function each within the resolution to go away and their satisfaction with their new agency
- A Federal courtroom has issued an injunction in opposition to the Company Transparency Act, placing a (probably momentary) maintain on the earlier January 1 deadline for companies topic to the legislation to file Helpful Possession Info reviews
From there, we now have a number of articles on Well being Financial savings Accounts (HSAs):
- A survey signifies that whereas HSAs have gotten more and more standard, shoppers may not be tapping into their full advantages, significantly in terms of investing to pay for future medical bills
- How monetary advisors can add worth for shoppers by serving to them keep away from doubtlessly expensive pitfalls associated to HSA contributions and distributions
- HSA methods for married {couples} who’ve medical insurance protection via their very own Excessive-Deductible Well being Plans
We even have quite a few articles on advisor advertising and marketing:
- How advisory companies can turn out to be “lighthouse manufacturers” that entice shoppers via a transparent promise, robust product, nice folks, and fervour for what they do
- Why showcasing the personalities of agency workers, quite than simply specializing in the {dollars} and cents of the worth of monetary planning, might be the important thing to constructing belief with prospects early on within the advertising and marketing course of
- How professionals can refresh their private manufacturers, from setting a private imaginative and prescient to getting suggestions from trusted shoppers and colleagues to raised perceive how others at the moment see them
We wrap up with 3 remaining articles, all about overcoming procrastination:
- The organic roots of procrastination and why this tendency may be onerous to beat
- 3 methods for overcoming a procrastination behavior, from breaking down a problem into bite-sized items to tethering a troublesome process to a extra pleasant exercise
- How advisors can keep away from getting caught on day by day ‘to-do lists’ and transfer ahead on longer-term targets
Benefit from the ‘gentle’ studying!
