Daniel R. Solin's Blog, page 48
November 7, 2016
The Two Most Ignored Marketing Tactics
For some advisors, a key problem is generating inquiries. In my experience, marketing efforts tend to be a hodge-podge of activities. They often include social media, videos, print advertisements, referral programs, podcasts, events and radio programs.
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November 1, 2016
401(k) Hijinks
If there’s one thing almost all financial experts agree on, it’s that low costs favorably impact returns. In this article, Morningstar concludes: “firms with high fees are unlikely to offer above-average performance. Low-fee funds give investors the best chance of success over the long term.”
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October 31, 2016
Focus on the Reptilian Brain of Your Prospects
Originally published in Advisor Perspectives, October, 31st 2016 Our brains are basically lazy. When you evoke images, you engage others. The third (and, thankfully, final) debate between Hillary Clinton and Donald Trump was surprisingly substantive, due in large part to the questions posed by the moderator, Chris Wallace. One of those questions required the candidates […]
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October 25, 2016
An Investing Group You Don’t Want To Join
I get depressed whenever I read an article about advisors who lose a large amount of money belonging to athletes. This one is typical. An ex-financial adviser apologized for losing $43 million of his clients’ money. All of his clients were NFL players.
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October 24, 2016
The Future of the Advisory Business
There’s a quote attributed to Sean Lennon (the son of John Lennon) that reflects my current thinking about the future of the advisory business: “We live in a pretty bleak time. I feel that in the air. Everything is uncertain. Everything feels like it’s on the precipice of some major transformation, whether we like it or not.”
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October 20, 2016
A One Fund Investing Strategy
Complexity is the enemy of investors and the ally of brokers. If they can convince you investing is too confusing to deal with yourself, it’s easier to drive you into their waiting arms.
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October 18, 2016
Meditation Can Help Your Investing
If you’re a regular reader of my blog posts, you know I espouse “evidence-based” investing. This term refers to investing supported by peer-reviewed articles in respected financial journals.
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October 17, 2016
The Challenge of Describing your Unique Value
Here’s the uncomfortable reality missing from the discussion about differentiating based on value: There may be no way for advisors whose primary value is investing in index funds and coordinating with other service providers to justify their asset-based fees.
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October 11, 2016
Don’t Touch the Third Rail of Your 401(k) Plan
Giving participants the unrestricted ability to trade on their own is a recipe for disaster.
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October 10, 2016
The Benefits of Worrying
Being aware of your personality type and recognizing the personality of your prospect is very helpful if you want to maximize the possibility of converting that prospect into a client.
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