Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that President-elect Trump plans to appoint former Securities and Trade Fee (SEC) Commissioner Paul Atkins as the following SEC chair, changing Gary Gensler. Atkins’ earlier time on the fee and newer statements counsel that he’ll take a extra circumspect method to monetary regulation in comparison with Gensler and will look to restrict disclosure necessities (together with these associated to advisor compensation for the sale of sure monetary merchandise) in addition to the quantity and dimension of penalties issued towards SEC-regulated corporations. Although in the end, whereas a slower tempo of regulation may be a aid for monetary advisors who confronted a wave of proposed guidelines throughout Gensler’s tenure, a extra hands-off regulatory method may open the door for abuses that might in the end decrease the fame of the monetary recommendation trade as a complete within the minds of shoppers (although a lighter burden of regulatory enforcement on RIAs themselves may encourage extra advisors to maneuver to the RIA channel, maybe accelerating the shift in the direction of fiduciary recommendation?).
Additionally in trade information this week:
- A latest survey discovered that monetary advisors who’ve lately switched corporations are overwhelmingly glad with their transfer, with agency expertise enjoying a key position each within the choice to go away and their satisfaction with their new agency
- A Federal courtroom has issued an injunction towards the Company Transparency Act, placing a (presumably non permanent) maintain on the earlier January 1 deadline for companies topic to the regulation to file Useful Possession Info studies
From there, we’ve got a number of articles on Well being Financial savings Accounts (HSAs):
- A survey signifies that whereas HSAs have gotten more and more widespread, shoppers won’t be tapping into their full advantages, significantly in relation to investing to pay for future medical bills
- How monetary advisors can add worth for purchasers by serving to them keep away from doubtlessly pricey pitfalls associated to HSA contributions and distributions
- HSA methods for married {couples} who’ve medical health insurance protection by way of their very own Excessive-Deductible Well being Plans
We even have quite a few articles on advisor advertising and marketing:
- How advisory corporations can turn into “lighthouse manufacturers” that appeal to purchasers by way of a transparent promise, robust product, nice individuals, and fervour for what they do
- Why showcasing the personalities of agency workers, reasonably than simply specializing in the {dollars} and cents of the worth of economic planning, might be the important thing to constructing belief with prospects early on within the advertising and marketing course of
- How professionals can refresh their private manufacturers, from setting a private imaginative and prescient to getting suggestions from trusted purchasers and colleagues to raised perceive how others presently see them
We wrap up with 3 ultimate articles, all about overcoming procrastination:
- The organic roots of procrastination and why this tendency may be laborious to beat
- 3 methods for overcoming a procrastination behavior, from breaking down a problem into bite-sized items to tethering a tough process to a extra pleasing exercise
- How advisors can keep away from getting caught on every day ‘to-do lists’ and transfer ahead on longer-term objectives
Benefit from the ‘mild’ studying!
