Posts by Rebecca Lake, CEPF®
Advisor Resources
When Financial Advisors Might Use AI for Financial Analysis
Artificial intelligence is redefining the way advisors run their businesses. AI tools are making it easier to create social media content, automate back-end operations and allow advisors to digest large amounts of data. There are different ways to use AI for financial analysis, as well as to analyze your business operations and identify opportunities for… read more…
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How Much E&O Insurance Costs for Financial Advisors
Errors and omissions (E&O) insurance is designed to protect you from liability claims related to the advice you offer your clients. While the Securities and Exchange Commission (SEC) does not require registered investment advisors to have E&O insurance, some states do. If you’re required to have coverage, or you simply want to protect your business,… read more…
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SEC Email Compliance Rules for Financial Advisors and RIAs
Email marketing is a great opportunity to connect with clients and nurture stronger relationships. You can blast out the latest news and updates about your firm, share helpful investment tips or offer your opinions on recent market happenings. SEC email compliance rules govern what you can and can’t do when sending email newsletters to clients.… read more…
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Website Compliance Rules for Financial Advisors
A professional website is an instrumental part of a successful financial advisor’s marketing plan. As investors increasingly turn to the internet to search for financial advisors, having an established online presence can be invaluable. As you build out your digital footprint, it’s important to ensure that you’re observing financial advisor website compliance rules. Ready to… read more…
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Qualifications That Every Financial Advisor May Need
Becoming a financial advisor is a chance to positively impact the lives of the clients you work with. In addition to being emotionally rewarding, it can be a lucrative career path as well, particularly if you opt for an independent business model. But what financial advisor qualifications are required to start or build a practice?… read more…
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Newsletters Every Financial Advisor Should Consider Following
Financial services is a constantly evolving industry thanks to regulatory changes, technological innovations and changing market conditions. Successful advisors understand the importance of keeping up with the latest news and trends to serve their clients better. Subscribing to newsletters for financial advisors can help you stay up to date on what’s happening. Ready to grow… read more…
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IBD vs. RIA: What Are the Differences?
Going independent has its perks, namely freedom, flexibility and control over decision-making in running your business. The question is, which path should you choose: Independent Broker-Dealer or Registered Investment Advisor? Comparing the advantages and disadvantages of an IBD vs. RIA model can help you decide which one makes the most sense for you. Ready to… read more…
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How to Volunteer as a Pro Bono Financial Advisor
Volunteering as a pro bono financial advisor is an opportunity to make a positive impact in the lives of individuals and families who can benefit from your expertise. Numerous organizations exist that help match financial advisors with people who need guidance with managing their money. Doing pro bono work can also be an opportunity for… read more…
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Guide to RIA Startup Costs
Starting a registered investment advisor firm can mark the beginning of a new phase in your career if you’re ready to go independent. Assessing RIA startup costs is a key step in the planning process. Understanding some of the most important expenses you’ll need to pay can help you shape your startup budget. Ready to… read more…
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How Much Independent Financial Advisors Make
Going independent and starting an RIA has certain advantages for advisors who want greater flexibility in creating a client experience. If you’re transitioning from a larger firm into your own business, it’s important to consider how that might impact your earning potential. Comparing independent financial advisor salary numbers can offer some perspective on what you… read more…
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9 Sales Tips for Financial Advisors
Selling financial services to prospective clients can be challenging on many levels. Once you’ve connected with a lead, you need to spend time nurturing that relationship and building trust. You also have to demonstrate your value to the client and why they should rely on you to help them manage their money. Some of the… read more…
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What Is SEC Form PF?
One of the most important aspects of running an advisory business is ensuring that your firm complies with state and federal regulations. That includes knowing which documents you’re required to submit to the Securities and Exchange Commission. SEC Form PF is a requirement for investment advisors who manage private funds. It’s important to understand when… read more…
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How to Create a Financial Advisor Newsletter
Nurturing a sense of trust with clients can help increase retention rates and help you potentially gain new clients through referrals. Communication is central to that effort, and if you’re not leveraging the benefits of email marketing, you may be missing out on valuable opportunities to build deeper connections. Sending a weekly or monthly newsletter… read more…
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Betterment for Advisors Review
Choosing a custodian is a major step when starting a registered investment advisor firm. It’s your custodian’s job to manage and maintain client assets on behalf of your firm. Betterment for Advisors is one option you might consider. This technology-driven platform is designed to help advisors deliver superior service to clients as efficiently as possible.… read more…
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Options to Outsource Your RIA Operations
Managing operations is one of the most time-consuming aspects of running an independent advisory firm. Developing workflows and automating systems can help you streamline important tasks, but as you continue to grow, you might decide that the time has come to seek outside help. Third-party providers can assist with RIA operations outsourcing, allowing you to… read more…
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A Guide to Operations for an RIA
Growing a successful practice can test your ability to manage all the demands competing for your time and attention. You’re meeting with clients, marketing your firm and managing a seemingly endless list of back-office tasks. Developing strategies and systems for managing RIA operations can help you scale more efficiently while maximizing your resources. Ready to… read more…
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7 Financial Advisor Business Growth Strategies
Planning your firm’s growth is central to ensuring its long-term survival in a competitive landscape. Researching and studying financial advisor business development can help you discern which methods are most likely to produce results. There are different paths you can follow to scale your business, and your goals may determine which ones make the most… read more…
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How Financial Advisors Can Use Sales Navigator
Social media offers a wide variety of opportunities for financial advisors to connect with prospective clients. While LinkedIn might seem like a less obvious choice than Facebook or Instagram for advisor marketing, the platform’s Sales Navigator feature offers some unique possibilities. This premium service can be used to facilitate lead generation so you can grow… read more…
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Comprehensive Guide to Financial Advisor Sales Funnels
Generating leads and attracting new clients often prove challenging for financial advisors. After all, there’s plenty of competition, and investors may feel overwhelmed by the sheer number of choices they have. Developing a financial advisor sales funnel that targets your ideal client base can help you capture their attention and grow your business more effectively.… read more…
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Working for Wirehouse Firms vs. Independent RIAs
Pursuing a career in financial services affords opportunities to explore different paths. Some advisors choose to join wirehouse firms, while others prefer an independent RIA model. Comparing the advantages and disadvantages can be helpful if you’re planning out your next professional move. Ready to grow your client base? SmartAsset AMP helps you connect with qualified… read more…
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Important Resources Every RIA Should Consider
Managing an independent RIA firm can be challenging on many levels. If you’re making the transition to your own practice or are looking for ways to streamline operations and increase efficiency for an existing firm, having the right tools can help. Tapping into RIA resources can make managing your advisory firm easier while enabling you… read more…
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CFP® Accelerated Path: Everything Advisors Should Know
Certified Financial Planner™ must meet education, experience, ethics and exam requirements to obtain certification. Financial professionals with a degree and at least three years of experience may choose the CFP® accelerated path to expedite the process. Following the accelerated plan allows you to bypass much of the coursework required to earn a CFP® mark, though… read more…
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Back Office Services for Financial Advisor Firms
Managing advisor back office operations can be a time-consuming test of your ability to juggle multiple tasks when running your own firm. In simple terms, the back end is anything you do for your business that isn’t client-facing. Implementing systems and utilizing third-party solutions can make it easier to direct your focus back to your… read more…
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How to Start an RIA Without Any Assets Under Management (AUM)
Becoming an independent Registered Investment Advisor is an opportunity to strike out on your own and take control of your career. Ideally, you could do so with an established client base, but if you’re unable to transfer your book of business from your previous firm, you might be starting from scratch. Starting an RIA with… read more…
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Corporate Transparency Act Reporting Requirements for Financial Advisors
The Corporate Transparency Act requires companies to report beneficial ownership information to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). FinCEN opened an online portal to begin accepting reports in January 2024. Financial advisors who fail to meet Corporate Transparency Act reporting requirements may face penalties. Ready to grow your client base? SmartAsset’s Advisor… read more…