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Michael Kay: “Life After Career: What Successful Men Need to Know,” Rethinking65, Nov. 8. Kay says, “Assuming financial security (which means different things to different people), the choice to continue to work in your given career or to do something else is worthy of some long and hard consideration. The default is to continue to do what you’ve done for decades and, in some ways, it’s the easier path.”
Daniel Kopp, Silvia Manent: “Reach Your Niche: A Firm Owner’s Guide to Social Media,” XY Planning Network, Nov. 2. Webinar.
Marjorie Fox: “Author of Women Wise: The Essential Guide to Financial and Lifestyle Decision as We Age,” Positive Aging, Nov. 1. Video.
Cody Garrett, Blaine Thiederman, Daniel Yerger: “The FPA Community Weighs in on Developing Referral Networks,” Journal of Financial Planning, November. Garrett says, “I currently refer all prospective clients to other advice-only financial planners, and the referral list is available on my website’s contact page. It is much easier to develop a referral list and join others’ when you have an intentional service, process, and fee model, and find other advisers who serve similarly.” Thiederman says, “I aim to be infinitely valuable to my referral partners by referring them as much business as I possibly can. I don’t expect anything in return other than they give discounts to my clients and they’re reliable.” Yerger says, “Bring at least 51 percent of the value to all relationships. The best way to be referred to is to be referrable, and that starts by providing excess value to the business relationships you’re hoping to be referred by.”
Bill Bengen: “Does the 4% rule still make sense for retirement in the 2020s?” Financial Planning, Oct. 31. Bengen says, “Assuming a minimum requirement of 30 years of portfolio longevity, a first-year withdrawal of 4 percent, followed by inflation-adjusted withdrawals in subsequent years, should be safe.”
Cameo Roberson: “Digital Marketing Strategies for Financial Advisors,” US News & World Report, Oct. 31. Roberson says, “What I’ve observed from elite advisors and teams who want to grow is they have adopted a strong digital marketing strategy.”
Kimberly Foss: “Men and Retirement: A New Approach,” Rethinking65, Oct. 31, and “Voices: Is your investment philosophy mantra media-ready?” Financial Planning, Oct. 13. Foss says, “But men also have special, distinct needs in retirement. However, these tend to be less financial than emotional. Especially with boomers and older Gen-Xers, men approaching retirement have been immersed all of their working lives in a culture that tends to define them by what they do and accomplish. The result is that far too many of them reach retirement with a self-understanding poorly suited for the very different opportunities and challenges presented by the retirement lifestyle.”
Danika Waddell: “Why wealth management’s diversity issues go deeper than demographics,” Financial Planning, Oct. 26. Waddell says, “How do the people in power have insight and visibility into what other people are experiencing? That’s a whole other thing and a subject that I think is really hard to understand. Because the last thing I want is for people of different backgrounds to feel like they have this labor of sharing with everybody what it’s been like to experience racism. I don’t think that’s the answer … to always turn to people of color and say, ‘well, just tell us what we did wrong.’”
Karin Price Mueller: “Our Medicare costs are rising because of home sale. What can we do?” NJ.com, Oct. 25. Mueller says, “… the increased income for the year matters for Medicare.”
Anjali Jariwala: “Creating the Products You Want with Anjali Jariwala,” BT Financial, Oct. 25. Podcast.
Lazetta Rainey Braxton, Rianka Dorsainvil: “8 uncensored tips for financial advisors going independent,” Financial Planning, Oct. 12. Braxton and Dorsainvil say, “It takes a lot of stamina and savvy to wear all of the hats necessary to operate a successful business. Finding the right partner who shares your vision and aligns with your values accelerates the opportunity for immediate synergies and increased profitability.”