Sentences with phrase «advisors say some clients»

Financial advisors say some clients simply struggle to say no, and others face pressure from the organization itself.

Not exact matches

Ian Russell says advisors and brokers will stratify, with a small base of clients paying premium fees for premium service — and robo - advisors for the rest

«Clients don't think about it at all or they think about the risk being so small,» said Michael McGrath, vice president with EP Wealth Advisors in Valencia, California.

«At first, we thought AMT repeal would be great for our clients,» said Leon LaBrecque, JD, CFP, managing partner and CEO of LJPR Financial Advisors.

As I have repeatedly said over the years, I do not believe that the overwhelming majority of advisors - be they wirehouse, hybrid, independent or RIA - have gotten into this business because they want to work against their clients.

Financial advisor Tom Balcom, founder of 1650 Wealth Management in Fort Lauderdale, Florida, said he has seen clients who take on their adult child's bills when the children lose their job.

«Being in the insurance and financial services industry, I'm always looking for ways to set myself apart, build my business and add value for my clients,» says Randy Rosler, a financial advisor with MetLife's Strategic Planning Group.

Going to march on D.C.,» said Altfest, principal advisor and executive vice president of client relations at Altfest Personal Wealth Management.

«It's a blueprint, a guideline with the responsibilities of the client, the advisor and the custodian,» Mittra said.

«These [fall] benefit meetings with clients are a time to look at last year's tax return and see what they can do differently with benefits to help next year's taxes,» said John Gugle, CFP and principal at Alpha Financial Advisors.

«I had some clients whose retirements were saved because of [variable annuity] contracts they purchased before the financial crisis,» said Marc Ruiz, a financial advisor with Oak Partners and a registered rep with SII Investments.

Furthermore, said Kobak, it's important for clients to understand what's in an advisor's «toolbox» and how those tools are used.

Financial advisor Sophia Bera says there are 3 mistakes Gen Y clients must avoid in order to ensure a secure financial future.

Financial advisor Carolyn McClanahan, director of financial planning at Life Planning Partners in Jacksonville, Florida, said the clients who say they don't want to retire often don't want to rein in their spending.

«I am not here to take clients away from their advisors,» he said.

Advisors at the 2015 TD Ameritrade conference remain upbeat about the U.S. market despite recent volatility and say clients should be, too.

«The No. 1 reason that advisors need to have a plan in place is this: If you have a fiduciary responsibility to your clients, you need to ensure that their financial affairs are attended to the moment you are not able to,» Tibergien said.

«Many of those clients are probably the same age as the advisor, and if they are looking for their teeth and glasses, they don't want to be looking for another advisor,» said Tibergien at Pershing Advisor Solutions.

«It's easier for an algorithm to determine someone's financial ability to take risk, but it's a whole lot more difficult to determine a client's emotional ability to take risks, and that's probably where a financial advisor has an advantage over a computer,» said Stammers.

Those clients will have regular access to an E * Trade account team: «If they want someone to validate what they're doing and look at their risk profiles, those advisors can do that,» says Rich Messina, SVP of Investment Product Management.

Drinkwater said the new investing rule announced in early April by the Labor Department may spur advisors and clients to work more closely on keeping inflation's effects at bay.

«A client in her early 60s may have not yet begun to receive Social Security and is living off a portfolio which is providing her income which generates very little in taxes,» said certified financial planner Chad Hamilton with Mariner Wealth Advisors in Denver.

The ban prevents the financial giant's roughly 17,000 advisors from pitching investments related to bitcoin and executing client requests to trade Grayscale's bitcoin investment trust (GBTC), the newspaper said, citing a person familiar with the matter.

Mallouk, president and CIO of Creative Planning, and Carson, CEO and founder of the Carson Group, both said they would tell Trump not to roll back regulations on the Department of Labor's fiduciary rule, which says if an advisor is working with a client on a retirement plan, they need to act in the client's best interest.

The ban prevents the financial giant's roughly 17,000 advisors from pitching investments related to bitcoin and executing client requests to trade Grayscale's bitcoin investment trust (GBTC), The Wall Street Journal said, citing a person familiar with the matter.

«There is some... herd mentality in hedge fund land,» says Jonathan Liggett, a financial advisor who helps clients pick hedge funds.

John Ndege, CEO of the risk tolerance software provider Pocket Risk, said the time is ripe for advisors to be having this talk with clients.

«Worse, this client left the initial meeting with the other advisor feeling as if they were definitely getting $ 22,000 per year if they pulled the trigger,» he said.

Among automated financial advisory services known as robo - advisors, Capuzzi said Apex has 2.6 million accounts and counts one major firm, Betterment, as a client.

«This is a bipolar market,» said Karen Altfest, principal advisor and executive vice president of client relations at Altfest Personal Wealth Management.

«Academic research has clearly established that conflicts of interest affect financial advisors» behavior and that advisors often act opportunistically to the detriment of their clients,» the memo says.

Tax experts say money managers can expect more tax planning than usual this season, as advisors and clients get familiar with tax reform.

Robert Rose, CMI's chief strategy advisor and head of consulting engagements, said these findings «seem to reflect something I'm seeing among clients, which is a focus on «personalization» and «targeting» and «real - time» usage of data to optimize experiences.

Three out of five financial advisors say more than half of clients are more concerned about retirement security than last year.

Advisors often make a mistake by limiting their financial advice to younger clients to pay off debt and save money in their early years, she said.

BDs are «having to increase their back - office IT to properly catalog, archive and encrypt the information they're requiring advisors to provide, like the «process of placing a client into a solution product or investment portfolio,» Lyon says.

«In light of market demand, it's important that advisors and clients have a trusted brand to turn to and a simpler more flexible option to consider,» she said.

Winterberg says advisors have to offer an equivalent robo - advisor service but also make clear that they do much more than just «turnkey asset management and stock selection... This week of all weeks they should be saying that to clients, how they create financial plans and go beyond just investments but talk about cash flow, taxes, estate plans and college planning.

«Financial advisors drive millennial clients away because they treat them like children, when they really need to feel they're on a team,» said Misty Lynch, a certified financial planner with John Hancock in Boston.

Attorney Jason Roberts, CEO of the Pension Resource Institute, a compliance consulting firm, says his large broker - dealer clients tend to manage retirement plans by teaming advisors who are not specialists in retirement plans with those who are.

A U.S. Chamber of Commerce report found that 71 percent of advisors surveyed will stop providing advice to some of their clients with small account balances, the legislators said.

«Robo - advisors can help clients with the on - boarding process of joining a retirement plan, manage their investments and rebalance their portfolios,» he said.

No such thing as one size fits all,» says Kirzner, also an advisor to Canadian robo - advisor firm Wealthsimple, which invests clients» money in a range of ETFs using the same investment philosophy.

As I have repeatedly said over the years, I do not believe that the overwhelming majority of advisors — be they wirehouse, hybrid, independent or RIA — have gotten into this business because they want to work against their clients.

Said Perez on Friday: «Lawyers and doctors have an obligation to look out for the best interest of their patients and clients, and all's we're saying is, in the financial context, that advisor ought to do the same — and they can do it.

While the new DOL rules are principles based and do not provide discreet instructions as to what advisors should do to fulfill fiduciary duties, industry executive David Trainer said advisors can not lose with clients or regulators by incorporating research into their practice that is «inarguably in the best interest of clients.»

Advisors and their clients «weathered the storm from 2000 to 2002 and then another [bear market] from 2008 to 2009, but there comes a point where clients start to capitulate,» Kitces says.

«To ensure that advisors can continue to serve a wide range of clients, the department does not plan to prohibit common compensation practices, such as commissions and revenue sharing, and intends to give firms the flexibility to figure out how to meet their clients» best interest,» the Labor Department says on an FAQ section of its website.

Kitces says he worries that advisors are in danger of experiencing what he calls the «three strikes and you're out» risk, which is the real possibility that «if clients have to go through a third bear market in just over a decade, advisors are going to start losing clients.»

Recently, FINRA issued a letter which says advisors and firms must act in the best interests of clients.