A recent article from CNBC says Social Security checks will likely increase next year. A 2.8 percent cost-of-living adjustment has been estimated by The Senior Citizens League. If the estimate is correct, the increase will be the highest bump retirees have seen in recent years.
Technology and the future of your practice
Technology is advancing faster than ever before. Who knew that dial-up internet would morph into voice assistants like Siri and Alexa? For financial advisors, this breakneck pace makes you wonder: is a nameless robo-advisor after my clients, or are clients just going to start asking Siri for financial advice?
Hidden Value is a new column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week Joe tackles how to compare two financial plans.
In a recent article for Forbes, Covisum President, Joe Elsasser, CFP®, touts the many benefits of choosing a niched financial practice.
Niched financial practices have defined specifically which clients they will work with and what services they can provide to make them the best option for those clients. Choosing an advisor who focuses on your particular niche is crucial when it comes to understanding your specific needs and answering any questions you may have comprehensively.
In a recent article for ThinkAdvisor, Covisum President, Joe Elsasser, CFP®, suggested that full integration will overtake open architecture as the theme of the next decade.
When financial tech begins to provide full integration, it will enable greater efficiency and the ability to provide mass-customization processes in financial firms. Highly customized, quality advice will be more affordable to the mass affluent, while still adding value for the consumer.
According to CNBC, one key calculation to keep in mind, when deciding when to claim Social Security benefits, is the "breakeven point," or the point at which the amount you receive if you claim later equals the amount you would have received if you had started early. However, a few blind spots can create misleading results and lead you astray.
By Katie Godbout, Director of Sales and Marketing
Is your business thriving? The 2018 FA Insight Study recently published by TD Ameritrade Institutional states that firms with a specific target market are achieving greater rates of growth and profitability than their peers — the median operating profit margin was 18% greater and the median annual client growth was 35% greater. Are you attracting the right prospects and enchanting them by meeting their every expectation?
We sat down with Covisum President Joe Elsasser, CFP®, the author of, “The Tailored Fit: How Advisors Can Use Technology to Mass-Customize Financial Planning,” to ask a few questions about his newly released white paper.
In his recent white paper, “The Tailored Fit: How Advisors Can Use Technology to Mass-Customize Financial Planning,” Covisum President, Joe Elsasser CFP®, examines the shift from open architecture to full integration.
Covisum’s new white paper, “The Tailored Fit: How Advisors can use Technology to Mass-Customize Financial Planning,” takes a closer look at how new technological tools will change the current landscape for financial advisors.