The Financial Planning Association has just released a new toolkit for Financial Advisors: the Statements of Advice Toolkit. The toolkit is a 14-video series that will teach members how to produce video SOAs. The series includes advice from FPA head of policy Ben Marshan and Fraser Jack, founder of Cyber Collective Australia. Those who are already using video SOAs may want to consider the toolkit as an alternative.
Tools and resources
The Financial Planning Association has released a new toolkit for the profession to help them grow their businesses. The toolkit includes tips on how to market your firm. According to Marie Swift, a marketing expert, it is important to think about the image of your business when marketing to clients. She shared winning marketing ideas that financial advisors can use. She spoke to a packed session at the FPA Business Solutions conference in Boston in October 2011.
A key component of the toolkit is a model fiduciary engagement agreement that outlines how advisors can ensure they are acting in a client’s best interest. Firms can use the toolkit to ensure that advisors are not putting clients at risk. It also provides a financial action plan and a model fiduciary engagement agreement to help members meet the CFP Board’s new standards.
The Financial Planning Association has released a new video toolkit for its members. The Statement of Advice Project (SOAP) Box Set consists of 14 videos that walk financial planners through the process of creating video SOAs. The videos feature real-life examples and discussions with FPA staff, including head of policy and strategy Fraser Jack. The SOAP Box Set is available online, and can be purchased at retail markets soon.
Access to original research
The FPA has just released a new toolkit for financial advisor: Access To Original Research. This series of videos was developed following an extensive consultation process, and aims to help improve efficiency and reduce compliance costs. The videos include interviews with FPA president Ben Marshan and Fraser Jack, founder of the Cyber Collective Australia. FPA chief executive Sarah Abood said that SOA and background work are major factors that increase the cost of financial advice.
The FPA’s latest toolkit features four original research articles and a quarterly supplement to The Journal of Financial Planning. The journal also includes a practice management section with information on trending topics and resources. This section is packed with a range of resources, including discounted resources and tools, four client articles, and more. As more consumers seek professional financial advice, the FPA has made it easier for advisors to stay on top of changes in the industry.
The FPA’s knowledge circle hosts monthly roundtables with thought leaders in financial planning. Its members can learn from each other and collaborate on projects at the national and chapter level. Members can also save on top-tier education providers, industry-leading consultants, and first-class insurance plans. FPA members also have access to exclusive discounts on first-rate insurance plans, best-breed software, and cutting-edge technology. These benefits more than cover the cost of the annual dues.
Discounts on tools and resources
As a financial advisor, building an online presence is an important part of your business. There are many tools available for screen sharing and virtual meetings, eliminating the need for in-person meetings or an office. When choosing the tools that you use, consider which ones are most user-friendly and can help you achieve your goals quickly. A cloud-based portfolio management platform like Advent Software’s Black Diamond Wealth Platform, for example, offers information aggregation, customizable reporting, and daily account reconciliation.
Cloud-based backup services provide greater security and accessibility for advisors. Dropbox is a popular and secure option for backing up files and documents. Moreover, advisors must stay on top of their reputation online. Google Alerts are the perfect tool to monitor online mentions of the company or individual. This tool is particularly useful in monitoring the social media marketing efforts of advisors. For a more comprehensive view, sign up for a free trial of Google Alerts.
Access to a peer-reviewed journal
The Journal of Financial Counseling and Planning is the official journal of the Association for Financial Counseling and Planning Education. It is a peer-reviewed journal focused on financial planning and is distributed to more than 87,000 CFP(r) professionals nationwide. It is an important resource for financial advisors and those who train them. By providing quality research, this journal is an invaluable tool for financial planners.
Articles published in this journal are fully copyrighted. Although the journal grants first publication rights, authors retain copyrights for their work and may reuse or archive the article as needed. The journal is not responsible for any subsequent use of the work. The journal also publishes accepted manuscripts in e-Version First, which allows readers to access these articles for free. The journal offers discounts on language editing services for authors.
The Journal’s editorial team has also incorporated more technology to keep readers informed. Google Scholar is an easy way to find peer-reviewed articles. Simply enter the terms sequence of return risk or “return risk” in the search box. The results will display a list of relevant articles. If you don’t want to spend a lot of time searching, an academic library will provide access to many professional journals.
Access to a virtual training program
When you’re preparing to become a financial advisor, you’ll need to be licensed by your state. The financial services industry is highly complex, and you’ll need to know the laws, regulations, and investments available to your clients. Access to a virtual training program can help you meet these demands while still focusing on the important things you need to know to succeed. Many advisors overlook these basics and end up not making much money.
Creating a virtual training program for financial planners gives you the chance to see the profession in action and model behavior after experienced practitioners. It can even inspire you to create innovative financial plans. As more virtual learning environments emerge, you can create a rich environment that fosters experiential learning. This way, you can learn alongside fellow financial planners and inspire the next generation of planners. By following these 11 steps, you’ll be on your way to building an exceptional virtual training program for financial advisors.
Taking advantage of a virtual training program for financial advisors can help you earn your degree faster. This program can help you gain experience in financial planning from more than 60 planners and firms, which can prove invaluable in your career. By spending twenty hours a week, you can finish the program and earn 180 credits before you’re even out of college. There are still a few spots left, so don’t delay.
Creating video statements of advice
The Financial Planning Association (FPA) has released a new video toolkit for its members to create video Statements of Advice (SOAs). The toolkit consists of 14 videos covering everything from the basics of creating an SOA to real-life examples of video SOAs. Marshan hopes the series will inspire financial advisors to incorporate video into their service delivery and to use it as a way to enhance client relationships.
The FPA’s head of policy, Marie Swift, collaborated with the Cyber Collective Australia to create the new toolkit, which is available for free to members. “We’ve seen the huge amount of background work, information investigation, and time spent by financial planners on SOAs, and now we can make the process easier for everyone,” she said. Using video to communicate SOAs is a great way to make the most of your clients’ time and attention.
To get started, consider creating your ideal client’s Bill of Rights and defining who you’re trying to attract. In other words, define your ideal client and build your messaging around that. Once you’ve done that, you’re ready to create your video statements of advice. This toolkit also includes tips for social media for financial advisors. For a free copy, visit FPA’s website.
