InfluenceAdvisor Heading To Seattle For #FPABE

See Influence Advisor at #FPABE Largest Gathering of CFP ProfessionalsGranted, I don’t have far to go … but I’m making the trek across Puget Sound on a ferry to join more than 2000 financial planning professionals in Seattle for the Financial Planning Association Annual Conference. I’ll arrive Saturday morning, Sept. 21, and stay through Sunday, September 22.

[Read more…]

Morningstar ETF Conference Gathers Industry’s Brightest

Morningstar logoThe ETF industry is booming. Total U.S.-listed ETF assets rose to $1.903 trillion last week, according to  Wednesday. September 17, through Friday, September 19, the brightest minds in the ETF investment industry will gather in Chicago at the Morningstar ETF Conference.

If you’re at the Conference catch CMG Capital Management Group CEO Steve Blumenthal in a panel discussion. Steve joins Robert Smith, from Sage Advisory, and Morningstar moderator David Sekera on Friday, Sept. 19, 9:40 a.m. – 10:30 a.m. for Breakout Session 5, Managed Portfolios. Facing the Fed-induced Headwinds.Follow the Conference on Twitter: #MStarETFUS

Morningstar has a new coverage area called ETF Managed Portfolios (660 strategies from 151 firms). Morningstar coverage includes CMG Opportunistic All Asset ETF Strategy and CMG Tactical Rotation Strategy.

Advisor demand for ETF managed portfolios continues to grow at a steady rate. At 8%, growth in the first quarter of 2014 equaled the average quarterly growth rate seen in 2013. Through March, strategies in Morningstar’s database collectively held $103 billion, representing a 40% increase versus March 2013.

Related: InvestmentNews: Financial advisers don’t make the most of ETFs, survey finds. Lack of time to learn the complexities leads to lack of confidence.

More financial advisors are choosing to build investment portfolios with ETFs rather than mutual funds. Why? What are the advantages of an all-ETF portfolio? Ron DeLegge, Chief Portfolio Strategist @ ETFguide talks with one LPL financial advisor about how he uses ETFs. Investors take note! Video below.

[Read more…]

At Your (Client) Service: 4 Essentials to Build Loyalty

John Anderson Practically Speaking Practice Management Advice for financial advisorsAt InfluenceAdvisor we like to share blog posts from around the web that can help financial advisors build their practice. We like the Practically Speaking blog because it offers exactly what it says … “common sense ideas to grow your advisory business.”

The latest post from John Anderson at Practically Speaking is  At Your (Client) Service: 4 Essentials to Build Brand Loyalty . The essence of any service business – you’re in service to the client. You’re there to help. You’re there to understand their particular situation and it’s your job to offer a solution that works for them. If you operate from that basic, core belief then you can build loyalty, over time. It takes time, many ‘touchpoints’ to build loyalty.

John Anderson Practically Speaking blog for financial advisors

Download SEI’s Four Essentials of Loyalty-Building Client Service toolkit and you’ll have the information you need to help you:

1. Avoid faulty assumptions
2. Commit to workflow processes
3. Improve the frequency and intelligence of your client touches
4. Make client review meetings impactful

See the InfluenceAdvisor Resources page for research, surveys, tutorials, White Papers and web links about marketing, social media, practice management and other issues that impact financial advisors.  Suggest a resource: Sign up for the InfluenceAdvisor Weekly News Digest and sign up for updates to Practically Speaking. Support the financial advisor blogosphere.


3 Reasons Not To Start A LinkedIn Group

Columbo says: Start a LinkedIn Group? I dunno, sounds like a lotta work!

Columbo says: Start a LinkedIn Group? I dunno, sounds like a lotta work!

#ColumboSays: I was one click away from starting a LinkedIn Group when instinct pulled me back and I thought … wait a minute. Considering how fickle social media is, the time involved in managing a group, and the potential payoff, is this really worth it?  I pondered …

I belong to Linked University and I’m learning and applying a lot of what they propose for success on LinkedIn. Josh and the crew are entrepreneurs and teachers, and their guidance is enormously helpful.

Beside videos, and live calls ins and workbooks, etc, they offer a service to start, manage, and prospect with your own LinkedIn Group. They do it all. It sounds appealing but I’m stuck. If they write content for you, then content becomes purely a marketing ploy that is not rooted in belief, intelligence, or value. What’s the SEO quotient of content like that? How does that increase your stature? I had the same problem with HootSuite curating and posting content for you. Isn’t this about engagement and adding value to the conversation?

I pondered 3 reasons NOT to start a LinkedIn group …

1. You don’t own it.

LinkedIn constantly changes it offerings and practices. You can invest a lot on “Products and Services” pages and have them yank it away in favor of “Showcase” pages. It’s their rules, their playground. If groups is becoming a commodity marketing play, is its value decreasing correspondingly? Yes.

2. It’s a huge amount of time

A ridiculous amount of time. Do you have that time? No. That’s why you pay Linked University and others to do it for you.

3. Really, what can you say?

Most, if not all, groups seem to degenerate into forums for people who want to contribute for a perceived benefit on LinkedIn. How many groups actually give you insight you couldn’t find elsewhere, and how much self-promotional muddle does it take to get there?

What’s the alternative?

#ColumboSays How about a Word Press blog. Nothing beats it. Google loves it. You own it. Play by your rules. Create your own network of prospects. There’s really nothing to ponder. Otherwise, find a few good groups and contribute there. Become a presence by adding value. Otherwise, contact InfluenceAdvisor and they’ll do it for you.

How Do You Talk to Clients About a Portfolio That Doesn’t Perform vs. a Common Benchmark

The Wall Street JournalIt’s a thorny issue all advisors face. What to say to the client when the portfolio, and investment plan you agreed on, doesn’t surpass or match a broad benchmark like the Dow or S&P 500? Steve Blumenthal, CEO of CMG Capital Management Group, writes in the Wall Street Journal Wealth Adviser (subscription required) about this delicate topic, and how to use the opportunity to educate clients about long-term investment strategy. Writes Steve:

[Read more…]