In serving high net worth clients, financial advisors and financial planners need to assess their attitudes towards charitable giving. For clients with an interest in philanthropy, helping them to systematize their approach to giving, as well as to increase the impact of what they give, can be a vital service that increases their satisfaction and …
Clients and households are increasingly more likely to divide their financial assets among multiple financial advisors as their wealth increases. This is an old, long established phenomenon that is common knowledge within the financial services industry. However, recent studies conducted by Cerulli Associates (a consulting firm specializing in market research related to financial services) indicate …
A squawk box is a speaker commonly found on the desks of financial advisors (brokers) and traders, providing virtually nonstop reports about important news, trends, transactions and sales initiatives. The trading desks, securities analysts and retail sales management are the prime contributors to the commentary on a firm’s squawk box. Most frequently, the squawk box …
A key consideration for financial advisors is time management, especially as their books of business grow. Here are some key considerations in juggling the competing imperatives of client satisfaction and compensation maximization. Client Penetration: Managing time effectively depends on knowing your clients, especially the total picture of their finances. In particular, a client who has …
Stewart grew her catering business and built a reputation as an expert in entertaining. Her first book, Entertaining, was a huge success and soon led to television appearances, more books, and a gig as Kmart spokesperson in 1987. In 1990, Martha Stewart Living magazine launched and Martha Stewart Weddings was published. The same year, Martha …
Social network analysis is built upon database analysis techniques such as collapsing and matching, which seek common denominators (such as names, addresses, birth dates, phone numbers, bank accounts, prior insurance claims, cars, etc.) and closely bound behavior (patterns of activity that seem related) that link what appear to be, on the surface, unrelated individuals, companies, …
Merrill Lynch High Net Worth Specialists: In the late 1990s, Merrill Lynch formed a group of five high net worth client and product specialists to assist financial advisors in serving this client segment. At the time, according to long-established Merrill Lynch tradition, financial advisors got to keep any clients whom they prospected. As a result, …
Working Mother Magazine publishes its survey of the best companies for working moms each September; note that there is some overlap with the Fortune Magazine Best Companies list. Finance and insurance companies regularly constitute half the top 10 and nearly a third of the top 100. Here are the 2020 results. Evaluation Criteria: Companies are …
Sales Assistant Career Overview: A sales assistant helps financial advisors (or brokers) better manage their time by handling routine client inquiries. Education: A bachelor’s degree normally is expected. Coursework in finance, accounting and/or economics is helpful, though not required. Certification: Certification is required to become a registered sales assistant who can accept and process unsolicited …
Definition: An exchange specialist is a market maker who facilitates trading on a securities exchange, such as the NYSE. This sort of specialist is granted a monopoly in trading one or more securities on that exchange, in return for pledging to: Maintaining an orderly market in the securities that he or she trades Putting his …