Expert advice on building an unshakable foundation as a financial advisor to the elite The revised and updated edition of the definitive guide to growing and maintaining a financial advice firm, The New Advisor for Life explores the fallout of the market crash on up-and-coming advisors. With a particular focus on the generation X and Y concern with debt management and long-term investment, this new edition examines what young investors look for in an advisor. Today, more than ever, insight, analysis, and validation are valued, but to be truly successful, an advisor needs to walk the line between being well-informed but not appearing condescending.
- What today's investors want in a financial advisor is someone who can cut through the noise and clutter of the financial services industry and the mainstream media
- Covers the basics, from setting a client's investment goals, selecting complementary investments, and monitoring portfolio balance, to the advanced—developing a personal finance plan for your clients based on their specific needs
- Steve Gresham presents a 19-point checklist for financial advisors to offer their clients "life advice"
Keeping clients engaged is more important than ever, and The New Advisor for Life gives the aspiring financial advisor the secrets to success normally reserved for the country's top firms.
Table of Contents:
Acknowledgments ix
Part I The State of the Advice Industry and Your Opportunities 1
Introduction 3
Chapter 1 The Value of Advice 11
Part II Investment Counsel Advice for Life 29
Chapter 2 How to Develop a Compelling
Investment Philosophy 31
Chapter 3 Creating a Defined, Effective Investment Process 55
Chapter 4 Setting Goals: What Really Matters? 63
Chapter 5 Defining Risk 97
Chapter 6 Diversification 117
Chapter 7 Alternative Investments 131
Part III Wealth-Management Advice for Life 149
Chapter 8 Managing Dreams and Fears 151
Chapter 9 You Can Help Clients Grow 161
Chapter 10 All in the Family and Keeping It That Way 171
Chapter 11 Money for Life 189
Part IV Building Your Advisor for Life Practice 207
Chapter 12 What is Your Value? 209
Chapter 13 How to Price Your Unique Value 231
Chapter 14 The Advisor-Client Tango 241
Chapter 15 Driving Referrals 263
Chapter 16 Selling Yourself 277
Chapter 17 Valuing the Advisor for Life Practice 293
Chapter 18 Taking Care of Number One 303
Appendix A Practice Analysis 323
Appendix B Investment Policy Statement 345
Appendix C Top 20 Client Analysis 355
About the Author 357
About the Contributors 359
Index 363
About the Author :
STEVE GRESHAM has over thirty years' experience in the financial and investment world. He is a Visiting Instructor at the A. Alfred Taubman Center for Public Policy and American Institutions at Brown University, and is business chair of Brown's Retirement Readiness Project. Gresham has published more than a hundred articles and has been featured in BusinessWeek, Fortune, Investment News, and the New York Times, and is the author of four books, including Advisor for Life and The New Managed Account Solutions Handbook, both from Wiley. He was named Mutual Fund Marketer of the Year in March 2007 by Institutional Investor/Fund Action.
