BCG Blog - Advisors

What do investors need right now, and how can advisors continue to build relationships and communicate effectively in a way that helps clients navigate the current economic whirlpool?

It’s easy to believe that the coronavirus vaccines are going to quickly stabilize the economy, but that’s not quite true.

Like an M. Night Shyamalan movie, the last year has been filled with unexpected twists. Here’s how advisors can help explain to clients why we haven’t bounced back yet, and what signs of recovery to look for.

Missed the major changes to Annuities Rules? Catch up Quick on how these rules could be beneficial the “hopeless generation”.

Young people want to retire early but tend to underestimate cost of living expenses that make this unlikely. What factors aren't they considering (that they should be), and how do FAs help them realistically save for early retirement?

Social Security is primarily funded through payroll taxes; however, due to the significant layoffs caused by COVID-19, 10.7 million fewer workers are paying into social security, plus many others have had their hours cut. Taken together, this means that Social Security contributions have slowed down significantly.

How can advisors help walk their clients through a thicket of potentially globally changing financial circumstances? When it comes to circumstances that may hit client’s static budget items – like housing, transportation and taxes, advisors may be able to help clients position themselves now for potential problems later by discussing advantages, especially tax advantaged funds.

Now that they’re unhindered by the constraints of physical proximity that may have formerly informed at least part of their decision making, advisors can market to a wider pool of investors and therefore be more discerning in their chosen clientele.

TikTok, Snapchat, Instagram, oh my! Some advisors are turning to social media platforms that specialize in fast-paced content. However, these can pose compliance complications and advisors’ time may be better spent figuring out how to motivate their young clients to invest at all.

They say there’s someone out there for everyone, but that doesn’t mean that you’re everyone’s someone. Here are a few signs that it might be time to move on from a client relationship.

With the passing of Justice Ginsburg, there is a possibility of an even more uncertain election as there is now more volatility in the election and also less certainty that a court with only eight Justices will be able to arrive at a decision.

Every business is now using variations of the same coronavirus script about navigating “a new normal” in “these trying times”. How can advisors stand out from the crowd of inauthentic platitudes? It all starts with empathy.

It can be difficult for Millennials to envision a better future (financial or otherwise) because they have never really experienced it; after being told it’ll get better time and time again, Millennials have only been disappointed, so now some may not see a point in long-term savings. But can the sometimes-hopeful-hopelessness be the key to a more secure financial future?

Is this just a game to you? For some, the answer is yes. Sports bettors have turned to the stock market, while young people are using investment apps that have the kind of gambling-adjacent features often found in video games.

It may not be two tropical storms about to collide, but the news of Charles Schwabs’ earnings report out in mid-July questioning whether zero fee models can be sustained nipping at the heels of a case potentially pending before the Supreme Court on fees could have a major impact. Batten down the hatches because the winds of change could be coming.

To H-1B or not to H-1B, that is the question. Hundreds of thousands of workers will be unable to enter the country thanks to the recent visa restrictions. What does that mean for workers and the economy, and how should investors react?

Is financial advising the new Netflix? While subscription models exist in the investment world, they’re not exactly common…but that may be changing.

Small business owners don't have retirement plans, could that be because they don't have succession plans?

If your client’s work day is literally never ending now that they work from home, they may want to start a mad money account.

Not everyone wants to retire. Whatever the motivation, many older investors may have been planning on a working retirement. Those older investors probably didn’t plan on a contagious pandemic that makes them feel unsafe returning to work.

Financial advisors may be masters at managing risk for their clients, but they should also know to risk manage their own business by having appropriate business insurance. While the mix of what makes up appropriate for one advisor necessarily differs from another, there is one clear and common thing among all advisors when it comes to insurance: no one could have seen 2020 coming.

Financial advisors have a complex web of security issues to consider on a calm day. Has coronavirus made that more complicated? Maybe. Here are a few key issues to consider when reviewing your security plans while we continue to work from home at least part of the time.

The news comes fast and furious these days. Vaccines are launching. Jobs are coming or going. And in the middle of all of that, it can be hard to distill what is important or what’s worthy of your attention. There is good news in that mix.

Context is everything in Communications. The term “economy” is more confusing than ever. Here are a few ways to add clarity to your communications about it.

Surveys are showing that many of those seeking out financial advisors are new to working with an advisor or haven’t sought individual advice before. Given that most financial advisors are feeling a crush of work while trying to work from home, we thought it would be helpful to reiterate the top tips for working with new clients.