digital marketing for RIAs

The Death of Referrals and the Birth of Digital Marketing for RIAs

As always, the early adopters will reap the benefits. This too applies to the birth of digital marketing for RIAs.

What’s Next on the Marketing Horizon?

Bob Veres is one of our favorite thought leaders and he recently weighed in on the future of marketing for RIAs:

”This was before my time, but they tell me that cold calling was once a very effective marketing strategy — until, of course, it wasn’t. I remember when advisory firms routinely attracted dozens and sometimes hundreds of prospects to cheesy prepackaged seminars, until attendance gradually began to slip away.

Now I’m hearing that the most recent marketing innovation, client appreciation events where clients are invited to bring along their friends, is starting to lose its effectiveness, either because clients are no longer bringing their friends, or because their guests are too far outside the advisory firm’s target market.

Marketing trends come in and go out with the inevitability of sunrise and sunset. The question is: What’s next on the marketing horizon? How will advisory firms reach beyond referrals to attract the next wave of clients?”1

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The Wealth Manager’s Perfect Storm of Risk (Part 2)

If you missed Part 1 of The Wealth Manager’s Perfect Storm of Risk, click here.

One of our biggest jobs as wealth managers is to protect our clients from unnecessary risk. The tools we use to diversify, allocate, rebalance and tax harvest have radically evolved in recent years.

In Part 1 of this blog series about risk, we talked about the “Perfect Storm” created by 3 intensifying risks that will impact your aging clientele’s retirement outcome:

  1. The 8-Year-Old Bull Market
  2. The End of the Bond Bull Market
  3. The Hidden Risks of Longevity

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The Wealth Manager’s Perfect Storm of Risk (Part 1)

This month the bull market marked its 8th anniversary. But as the Wall Street Journal reported March 8th, “Stocks Have Tripled Since Crisis, but Low Rates Are Still Squeezing Savers.”

Retirees have reacted to low interest rates by opting for higher-risk investment strategies, exposing themselves to volatility and sequence risk in an effort to make sure they don’t outlive their assets.

This week the Fed began to ratchet up rates. This might mark the end of the bull market in bonds. The Fed’s actions expose those retirees’ remaining fixed allocations to risks associated with rising rates.

And on top of sequence and interest rate risks, longevity risk may be the most difficult to communicate and manage.

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Michael Kitces Post-DOL Financial Planning Environment

Webinar Replay: Post-DOL Fireside Chat with Michael Kitces

Our March 15th Fireside Chat with Michael Kitces promised to deliver practice-shaping insights and calls to action on the post-DOL environment. It did not disappoint with over 90% of attendees rating it Useful to Very Useful.

Watch the webinar now.

In one of the most poignant moments, Michael noted that:

“If you look at the benchmarks, after stripping out markets and looking just at the growth of RIAs on a dollars-in, dollars-out basis; advisory businesses have had negative growth for the last 2 years.”

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Turn 4% Systematic Withdrawal Challenges Into New Clients

Last week we hosted an extremely well received webinar featuring Warren Wall, CFP® and Dave Vick, advisor and noted author. Most of the webinar dealt with the challenges with using a 4% systematic withdrawal plan with your retiring clients (click here to watch a replay). Warren and Dave did an excellent job of explaining how they address key risks like sequence of returns and longevity. Dave’s ABC Planning Model is an excellent starting point for advisors who are transitioning into the RIA space. Many seasoned advisors on the webinar were impressed by how Retirement Alpha can help them achieve better outcomes for their clients.

 The question several attendees asked was: How do I turn this knowledge into new business?

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Webinar Replay: Myth Busting the 4% Withdrawal Rule in a Post-DOL World

Warren Wall and David Vick joined us to myth bust the 4% Withdrawal Rule. More advisors and researchers are discovering that a 4% systematic withdrawal plan (SWP) might not be in the client’s best interest.

Check out this fast-paced interactive dive into managing the sequence of returns and longevity risks. This session offers a practicing investment advisor’s approach to helping clients achieve better retirement outcomes by managing these risks that can undermine a 4% SWP.

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