relish the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that FINRA has issued a proposal to allow broker-dealers to advertise hypothetical performance data to institutional and high-net-worth investors, which would bring the rules for broker-dealers largely in line with those for investment advisers, but also raises questions about the comparative roles and regulations for the two groups.
Also in industry news this week:
- A recent survey indicates that about 98% of clients are at least somewhat satisfied with their financial advisor and that an advisor’s ability to furnish peace of mind when it comes to finances is a key driver of this satisfaction
- A investigate indicates that advisors can potentially boost client referrals by using client portals and by implementing financial psychology practices
From there, we have several articles on insurance planning:
- While many clients might be tempted to enroll in a Medicare Advantage scheme, doing so can create potentially costly financial risks
- How seniors in several of the largest states will encounter greater-than-average increases to their Medicare Part D premiums in 2024
- How advisors can help clients minimize IRMAA surcharges and appeal to have them reduced under certain circumstances
We also have a number of articles on client communication:
- The 7 communication practices that clients dislike the most and how advisors can avoid them
- Why avoiding technical jargon can facilitate better prospect and client communication and tactics to help advisors transmit more clearly
- Why empathy often beats sympathy for advisors when it comes to working with clients dealing with stressful situations
We wrap up with three final articles, all about the history of common financial products:
- How the current system of employer-provided health insurance benefits can be traced back to wage controls imposed during World War II
- How the private long-term care insurance marketplace has evolved over time, and why some states are considering stepping in to furnish coverage to their residents
- How the 30-year fixed mortgage became dominant in the United States and how it is impacting housing affordability today
relish the ‘light’ reading!
