Considering using Brand Advocates to market professional financial services

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This excerpt comes from Zuberance: “Brand Advocates are people who frequently recommend brands and products without being paid. Brand Advocates are a company’s most engaged, loyal, and valuable customers. Size: About one in four adults in the U.S. – about 60 million people – are Brand Advocates. Influence: Advocates are about 3X more trusted and influential than […]

Only 1% of financial advisers completely embrace fee-only service

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PriceMetrix research consultants report that only 1% of financial advisers have completely converted to fee-based services. 99% cling to the older commission-based approach despite overwhelming evidence that clients are surging to fee-based approach. I am quite surprised by this study; other indicators led me to believe that as much as 5% of financial advisers, especially […]

Comments on “Know Who to Trust” editorial about financial advisers

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Today I had an email exchange with a CPA who commented on the editorial I recently posted in CBSPhilly on the issue of establishing a basis of trust with a financial adviser. Sometimes these little bits of encouragement make all the difference so I compiled and re-posted the email conversation here as an ego reward […]

Know who to trust for financial advice

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Reproduced from CBSPhilly at Knowing whom to trust for financial advice is not a simple subject. It requires an understanding of four separate intellectual concepts that must be reduced to simple and clear personal resolutions. Those concepts are: 1. Avoid potential conflicts of interest 2, Use an adviser who has fiduciary responsibility 3. Keep […]

The value of financial planning

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New study reveals significant differences between “planners” and “non-planners” This except that I’ve annotated below comes from “Accounting Today” July 23, 2012 article titled “Families with Financial Plans Manage Money Better” includes some powerful data in support of the value of financial planning across all income levels: Families who have prepared a personal financial plan report more […]

“Trust in the Age of Transparency” – Harvard Business Review

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This article ties in to the editorial I’m writing now on “Who to trust” for retail financial services. Yale economist Robert J. Shiller strikes a very different note. In Finance and the Good Society, he agrees that trust in business has been shaken (and cites, as they all do, the Edelman Trust Barometer as evidence), […]