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Key elements of the Reg BI Adopt a financial literacy focus Simple solutions sell Free trading, differences in generational marketing, and economic challenges are significantly changing the Financial Services Industry. Despite the original Fiduciary Rule being struck down last year, the Regulation Best Interest (Reg-BI) is making the roles and responsibilities of financial services professionals more dynamic and evolved than ever. In short, Reg-BI replaces the Suitability Standard and expands upon it similarly to the Fiduciary Rule. Now financial professionals can only make recommendations that serve the client first and must take action to maintain fiduciary due diligence. Key elements of the Reg BI Disclosure Requirement: brokers-dealers must disclose facts...

Colin Ward

24 Oct 2019

PCT Pro Using RetireRisk To Plan Cashflow In Retirement

PCT Pro was designed Portfolio Crash Test Pro was created because there was not a tool for Financial Advisors that allowed them to specifically examine the internal and external risk of a client’s portfolio. Each feature within the software enables a financial advisor to confidently sit with a client and explain the opportunities and vulnerabilities of their investment situation. RetireRisk, one tool, aims to contextualize the client’s portfolio around their retirement plans. PCT Pro’s tools are best used in harmony There are many features in PCT Pro that help financial advisors better understand their client’s financial situation. Indeed, RetireRisk is best when combined with an assessment of Risk Tolerance and...

Colin Ward

17 Oct 2019

Larkspur Executive Can Create Analytical Direct Mail Letters

Automate your direct mail packages Contact the Client Success team to build your own templates Here’s how to create direct mail in just a few clicks Rixtrema’s financial planning software platform streamlines marketing and analysis [vc_row][vc_column][vc_column_text]Save time when running a direct mail campaign. With just a few clicks, Larkspur Executive allows you to create consistently compelling marketing letters for direct mail prospects. This can streamline your marketing process and help you improve your marketing language through consistency. By using Larkspur Executive’s direct mail tool you can contact multiple key executives in a matter of minutes and this efficiency will increase your chances of success. Automate your direct mail packages Preparing...

Colin Ward

15 Oct 2019

Financial Advisors Can Still Be Advisors In The Free-Trade Platform

Robinhood pioneered free brokerage Charles Schwab investors didn’t take the news well Free brokerage services will pull Millennials into investing How will Financial Advisors adjust to free brokerage services? This week Fidelity joined Charles Schwab, TD Ameritrade, and E*Trade by providing commission-free trading to their investing customers. With so many established financial services companies adopting this practice, we must wonder what on earth we were paying for in the first place? It is just another example of how the financial services industry is moving to attend to the tastes and preferences of Millennials and Next-Gen clients. Robinhood pioneered free brokerage Backed by truckloads of venture capital, the Robinhood app...

Alexandr Starodubtsev

09 Oct 2019

How You As An Adviser Can Help Next Generation Clients?

How Advisors Can Help Next-Gen Clients Next-Gen will inherit Baby Boomers’ wealth Build relationships with low-AUM clients and your trust may pay off Financial advisors can help during transitional stages How Advisors Can Help Next-Gen Clients Currently, the majority of financial planners focus their business around serving the most affluent and rich segment of the US population, namely the Baby Boomers. As the bar shows below (Figure 1), the Baby Boomers accumulated a hefty 55% of the entire household wealth in the United States. It is quite logical to direct your efforts where the money is. However, it is strategically unwise to neglect the clients from the next generation –...