WealthPlan Group

12/25/2023

From our families to yours, happy holidays!

12/22/2023

Client retention is the lifeblood of the financial advisor industry.

The industry is evolving faster than ever, and the data shows that retention is hanging in the balance.

Advisors, it's crucial to bridge the gap between client expectations and your practices.

Here's some tips on how to do it:

Client retention is the lifeblood of the financial advisor industry, but dangerously, it’s also something many advisors take for granted.

12/20/2023

Without a referral strategy, you’re relying on your clients and friends to do all the work.

With a referral strategy, you help remove the friction and create a referral-rich environment for your client community.

The best referrals come from satisfied clients.

12/17/2023

Alternatives, when thoughtfully integrated, can provide stronger diversification for your clients than just stocks and bonds.

The best part?

Through our outsourced investment management platform, you can offer your clients streamlined access to alternative models that complement their investment strategies.

12/15/2023

Fundamentally, financial independence has a simpler, literal definition. You might have heard it called “work optional”.

Whether or not your clients want to “retire” quite yet, they want to be free to make decisions without income being the deciding factor.

As younger generations look for more creativity and flexibility in their financial plan, we’re seeing the fundamentals of investing adapted in real-time to serve an evolving set of needs.

12/14/2023

Risk tolerance generally focuses on how much volatility a client is willing to endure, but we prefer to focus on the amount of “downside” risk a client is comfortable with.

Why is this?

In our experience, when you ask a client about their tolerance for volatility, the answers are fairly subjective.

Our industry has long leaned on terms like “aggressive” or “conservative”, but these are dependent on both the client and the advisor and can create a definition gap.

It’s far more helpful to identify the amount of money a client is comfortable with risking correlated with the growth targets.

Shared, non-jargon language is the best foundation to build upon.

12/13/2023

When should you ask clients for a review?

Testimonials are one of the most powerful forms of advisor marketing, but asking for them can feel stiff.

Our friends at WealthTender shared their recommendations for the best times to ask your clients for a review in a natural way.

12/10/2023

Ready for the best holiday marketing we’ve seen this year?

We wanted to highlight the amazing charitable work done by one of our advisors Wayne Wagner and his team at Vizionary Wealth.

Their team highly emphasizes generosity with their clients, but for the second year, they took it to another level.

They asked their clients to nominate charities they care about – and they received 77 nominations!

On Giving Tuesday, they livestreamed the selection of 15 of those charities, donating $1,000 to each in the names of their clients.

Kudos to Wayne and his team for involving their clients in their core values!

As we welcome the holiday season, Vizionary is excited to share this spirit of philanthropy with our clients. In lieu of Christmas gifts this year, we’ve decided to donate a total of $15,000 to charities near and dear to our clients' hearts.

12/07/2023

How do you help your clients have peace during market volatility?

CIO Erik Ogard recently sat down with Wayne Wagner of Vizionary Wealth to discuss this question.

The more your clients understand the purpose of the markets – long-term growth – the less pressure advisors face to explain every run and dip.

The key is to be a proactive communicator.

12/06/2023

Do your clients need help understanding Roth conversions?

Even if they understand how they work, it can be challenging to grasp the exact financial impact of their situation.

With Holistiplan’s Scenario Tool, you can show your clients how different amounts of Roth conversions impact their finances.

When it comes to complexity, show is easier than tell!

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At WealthPlan, we have partnered with Holistiplan to provide access for our advisors.

We'd welcome the conversation if you’d like to learn more about how Holistiplan can improve your tax planning conversations.

12/04/2023

Many people are under the impression that financial well-being is about the performance of their investments.

But investment performance is only half the equation.

What you save and spend are critical too.

This is why seeking the counsel of a financial planner to help you set savings and spending goals in addition to establishing your investment portfolio is so important.

https://www.wealthplan.group/financial-fitness/

12/03/2023

Do you know the 3 C’s of SEC-compliant testimonials?

We were recently joined by our friends at Wealthtender to explore how advisors can safely gather and leverage their clients’ testimonials.

They explained the “Three C’s” criteria the SEC looks for in compliant reviews:

1️⃣ Are they currently a CLIENT?
2️⃣ Were they COMPENSATED for their review?
3️⃣ Any CONFLICTS of interest?

Those three disclosures need to be visible anywhere a review is displayed.

WealthTender makes it easy to document and display the required disclosures.

Thank you for sharing your insights with our advisors!