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In The News

Hidden Value: How to Put the Brakes on Out-of-Control Spenders

Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he discusses clients who overspend. Clients who overspend are among the most difficult clients to work with, however they arguably need your advice the most. In this week's column, Joe takes a closer look at the early warning signs and the best ways to combat overspending. 
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In The News

Hidden Value: Roth IRA Conversions, How Much Is Too Much?

Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he highlights the importance of evaluating Medicare surcharges and beneficiaries' future tax brackets when considering a Roth IRA conversion. 
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Marketing

Kitces Nerd's Eye View: How To Better Attract Your Ideal Clients

In a recent guest post for Michael Kitces' blog, Nerd's Eye View, Covisum's Director of Sales and Marketing, Katie Godbout, offered an in-depth look at crafting and using a client persona to generate leads.  Finding prospective clients can be difficult for many financial advisors. The marketing process can seem overwhelming, and unfortunately the solution is often to cast a wide net to try to attract anyone. However, when you try to market to everyone, it becomes incredibly difficult to differentiate yourself. You can overcome these issues by focusing in a specific and narrow target market. A client persona is a detailed description of your ideal client.  "The key to marketing financial services is resonance. If the messages you’re putting out aren’t relevant and don’t resonate with the prospective clients you’re trying to reach, they won’t work. And if you try to create a message that resonates with everybody, it won’t work because nothing is going to resonate with everyone at the same time." "This means the first step to effectively marketing your practice for growth is to narrow your focus and pick which specific prospective clients you want to target. Then you can create marketing that resonates with those particular people."
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