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The Great Rebundling of Financial Services

The Great Rebundling of Financial Services | Advisor Trust | Scoop.it
Banks are being unbundled by challengers in numerous business lines, but they can recapture the relationship with the help of technology and the right mindset.
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(5 minutes Worth reading)
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Before the Advice, Check Out the Adviser

Before the Advice, Check Out the Adviser | Advisor Trust | Scoop.it
When must investment advice be in a consumer’s best interest? It depends on whether an adviser is required to follow what’s known as the “fiduciary standard.”
Grant Barger's insight:

Exuding Tangible Alpha ® goes beyond antiquated Wall Street Industry "Standards" This business has an array of shady characters... and an assortment of good guys too. You can promise your behavior... you can't guarantee returns... especially in an annuity.  

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Why Joe Duran is dead wrong on 2015 marking the end of the Golden Era of the RIA | RIABiz

Why Joe Duran is dead wrong on 2015 marking the end of the Golden Era of the RIA | RIABiz | Advisor Trust | Scoop.it
Why Joe Duran is dead wrong on imminent RIA decline - The serial entrepeneur's column in InvestmentNews forgets that RIAs are also advancing and that the 'new competitors' carry baggage and have fatal shortcomings
Grant Barger's insight:

I am anxiously awaiting the solutions that will be provided by Brooke and company this Wednesday. I love the topic. 

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‘Brutalized’ Breakaway Brokers Speak Out: 7 Stories From the Road to Independence

‘Brutalized’ Breakaway Brokers Speak Out: 7 Stories From the Road to Independence | Advisor Trust | Scoop.it
From “pain and humiliation” to a “quite positive” experience, seven brokers tell ThinkAdvisor their stories of breaking away from wirehouses or big regionals.
Grant Barger's insight:
This new era of technology and digital media is allowing the truth to travel quickly... this is indeed the best time in the history of the world to be a serious steward of wealth
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6 Steps to More Effective Content Curation

6 Steps to More Effective Content Curation | Advisor Trust | Scoop.it
Buffer Really good post that breaks down six steps of curation. Great graphic representation as well… Whether you’re a corporate brand or a personal brand, it’s important to effectively curate (and share) good content. Effective curation builds influence and authority: share information that enables your audience to learn (and do their job better) and they’ll come back for more. Heres my six step plan for more effective content curation. Understand your audience. Understand yourself. Assess title AND content. Acknowledge the author(s). Add a splash of commentary. Re-share and re-distribute. See full story on .allvirtual.me Image courtesy of .allvirtual.me
Grant Barger's insight:

By Curation Traffic 

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Brightscope Blows It Out

Brightscope Blows It Out | Advisor Trust | Scoop.it
The team at Brightscope has announced today that they'e taking AdvisorPages to the next level, making it the de facto standard for every financial advisor's web
Grant Barger's insight:
More transparency from BrightScope. I don't understand why any advisor would pay someone $1000 a year for posting information that should be made readily available (advisor's Tangible Alpha) on their own website. This is information that can be verified and validated for free on the World Wide Web. This is a head scratcher.
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How Mutual Fund Closings Hurt Investors (and Why Advisors Should Care)

How Mutual Fund Closings Hurt Investors (and Why Advisors Should Care) | Advisor Trust | Scoop.it
To simplify identification of potential fund closings, Dan Kern and Tim McCarthy offer a somewhat surprising solution that advisors can use to benefit their clients.
Grant Barger's insight:

Great information...

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Brightscope lets advisors get basic entry to its Advisor Pages for free, talks Morningstar deal and pencils in an IPO for about 2017 | RIABiz

Brightscope lets advisors get basic entry to its Advisor Pages for free, talks Morningstar deal and pencils in an IPO for about 2017 | RIABiz | Advisor Trust | Scoop.it
Brightscope eliminates fees on Advisor Pages, talks Morningstar deal and pencils in an IPO for about 2017 - After two years, less than 1,000 advisors paid for the website and BrightScope hopes free is a better price-point for some...
Grant Barger's insight:

For 80 percent of the Financial Advisory Industry this platform is needed to police the actions of the nefarious advisor... For the 20% who understand that they can demonstrate their authenticity without being extorted there is Tangible Alpha. www.BeyondFiduciary.com 

 

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This is actually quite laughable but I understand how salespeople get sold…

 

 (This is a quote taken from the end of the article...)

“We’ve grown a lot and people still misunderstand us. People still doubt us. If everyone understood what we’re doing, we’d have more competition. Our customers aren’t confused. It’s not important to me that our competitors understand what we do. In a perfect world, we’d like our competitors to be baffled and our customers to love us”

 ~Mike Alfred  BrightScope, Inc.

 

Okay… so you’re saying that you want to maintain a unique model so your pool of peers remains shallow… because if you had a bunch of competitors, your business model would become commoditized and you would eventually have to acquiesce to being lumped together and compared with a bunch of people who don’t really do what you do… Then someone could create an online program that captures information about your business that doesn’t really describe your value, but could ruin your reputation. And if you don’t pay an annual fee to make sure the writing on the bathroom wall is spelled correctly you don’t get the stamp of approval that lumps you in aimlessly with the rest of your competition… commoditizing your unique value and forcing you into price wars with the guys across the street… You eventually go out of business because you can’t figure out a way to convey your absolute unique value to an ideal audience because you have wasted your time and money on other people’s ideals instead of focusing on your own purpose.

 

…That is cause for concern.

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Answer Prospects’ Tough Questions Before They Ask

Answer Prospects’ Tough Questions Before They Ask | Advisor Trust | Scoop.it
Candor is the best policy during those crucial early meetings.
Grant Barger's insight:

Bypass all of the angst mentioned here... and discover your Tangible Alpha... Then Deliver your Absolute Value to ideal prospects and clients. Finally... remind your clients of your Tangible Alpha... often. The difference between being inclusionary and exclusionary is very similar to the difference between sales and service. Get past the sales and get on with the service. The solutions offered in this article and in most trade mag columns are top down sales driven tactics. Get past trying someone else's ideas and own your business. Build the foundation at www.beyondfiduciary.com 

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Re-Evaluating The CFP Board's "3 Buckets" Approach For Determining Fee-Only Compensation

Re-Evaluating The CFP Board's "3 Buckets" Approach For Determining Fee-Only Compensation | Advisor Trust | Scoop.it
In recent months, the CFP Board has been buffeted by criticism of its current compensation disclosure rules - built upon a series of definitions that the CFP Board insists have not been changed since the Practice Standards were approved after a public...
Grant Barger's insight:
Kitces is on it. But we need to look beyond fiduciary resolve and onward to tangible accountability and integrity. Don't let the agencies set your standards. Go beyond fiduciary. Great article.
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The Trouble With Target Date Mutual Funds

The Trouble With Target Date Mutual Funds | Advisor Trust | Scoop.it
When saving for college or building a retirement nest egg, many Americans gravitate towards target date mutual funds. A financial advisor pokes holes in this "autopilot approach" and recommends alternatives.
Grant Barger's insight:

Comment in article... The Real Issue w/ TDF...

 

It perpetuates the myth of MPT, misrepresents the degree to which true risk (of not meeting financial needs) can be managed, and totally abdicates any responsibility for earning real returns while in retirement, which is when most people's investment portfolios are largest, and therefore have the most impact on their total dollar returns.  

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How Do I Know I Can Trust My Financial Advisor?

How Do I Know I Can Trust My Financial Advisor? | Advisor Trust | Scoop.it
Savvy investors know to ask an advisor questions on these five essential subjects: . . . . . .
Grant Barger's insight:
Nice list.
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Is the CFP Fiduciary Promise for Real?

Is the CFP Fiduciary Promise for Real? | Advisor Trust | Scoop.it
The CFP Board s highly publicized $36 million Let s Make a Plan campaign may have misled consumers.
Grant Barger's insight:
Excellent insight. #advisordna
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Robots Will Strike Asset Management Firms First

Robots Will Strike Asset Management Firms First | Advisor Trust | Scoop.it
The rise of financial technology threatens all of Wall Street, a new survey shows.
Grant Barger's insight:
Two main takeaways from this article... number one, how is there a Milken Institute of anything? And number two, seriously... How is there a Milken Institute? Much less a Global Conference that has a namesake of the most notorious criminal Wall Street has ever produced. That guy destroyed way more lives than Bernie Madoff.
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Advisers Must Embrace Tech To Battle Robo Advisers

Advisers Must Embrace Tech To Battle Robo Advisers | Advisor Trust | Scoop.it
Algorithm-driven robo advisers are vying with human financial advisers to serve clients. Embracing technology is the best way to meet the new challenge.
Grant Barger's insight:

More Robo-Advisor content... Interesting times indeed. 

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Incredibly, the SEC Sets Forth Its View: Suitability Standard is the Same as Fiduciary Standard | Scholarly Financial Planner

Grant Barger's insight:

Include the alphabet soup and add to TA

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Former Napfa Chair Spangler Gets 16 Years For 'Complete Betrayal'

Former Napfa Chair Spangler Gets 16 Years For 'Complete Betrayal' | Advisor Trust | Scoop.it
Former Napfa Chairman Mark Spangler has been sentenced to 16 years in prison for what the court described as  a complete betrayal  that cost his clients millions in life savings.

Spangler, once a nationally prominent advisor quoted by the likes of The Wall Street Journal and The New York Times, was sentenced in U.S. District Court in Seattle on Thursday.

U.S.
Grant Barger's insight:

How will the current and next generation of advisors demonstrate their trustworthiness to clients and prospects? 

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We Saw 'Wolf Of Wall Street' With A Bunch Of Wall Street Dudes And It Was Disturbing

We Saw 'Wolf Of Wall Street' With A Bunch Of Wall Street Dudes And It Was Disturbing | Advisor Trust | Scoop.it
The finance crowd cheered at the most grotesque moments.
Grant Barger's insight:
It's incumbent upon today's investment professionals to let their clients and prospects know that they are not a wolf in sheep's clothing. www.StewardofWallStreet.com
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Brightscope Business Transparency Model

Brightscope Business Transparency Model | Advisor Trust | Scoop.it
DO as we say... Not as we DO! In a recent article in RIABiz.com the leaders of BrightScope are tryng to justify why their service is important to maintain the integrity of the industry. But the int...
Grant Barger's insight:

Is this model simply too hypocritical?

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Website Alpha Audit

Website Alpha Audit | Advisor Trust | Scoop.it
Crafting a Useful Website If you are like most advisors, you have a very clean information-driven website that allows your clients access to accounts and conveys some information about you and your...
Grant Barger's insight:

In the history of the UNIVERSE there has never been a better time for Wealth Advisors to demonstrate their authenticity. #DigitalFootprint 

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Goodbye to the Old Guard? | Wells Fargo content from WealthManagement.com

Goodbye to the Old Guard? | Wells Fargo content from WealthManagement.com | Advisor Trust | Scoop.it
Danny Ludeman’s retirement from Wells Fargo has sparked some concern among the rank-and-file. Does the new boss need the same boots-on-the-ground experience?
Grant Barger's insight:
Hmmmmm...?
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First Down? Suddenly, Some Progress on the Long Journey Towards a Uniform Fiduciary Standard for Brokers and Advisors | TD Ameritrade Institutional | TDA4advisors Blog

First Down? Suddenly, Some Progress on the Long Journey Towards a Uniform Fiduciary Standard for Brokers and Advisors | TD Ameritrade Institutional | TDA4advisors Blog | Advisor Trust | Scoop.it
Suddenly, Some Progress on the Long Journey Towards a Uniform Fiduciary Standard - http://t.co/JtU2cuqGyG via @TDA4Advisors @TDASchweiss
Grant Barger's insight:
I would think RIAs would want to embrace the differences between the wire house and the independent advisor the way it now stands. There's a clear differentiation...a defining line...that if made tangible to the prospect, should be a huge advantage to the independent advisor. The Wire house will always want to sell the investment banking products that are being pushed down the funnel to the syndicate rubes who think they are getting a special deal. This entire cycle is dependent on sales and commissions. The RIA should embrace the current differences and move forward making their value more apparent than ever with Tangible Advisor Alpha.
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Want To Be Authentic? Be Congruent. - Business Communication

Want To Be Authentic? Be Congruent.  - Business Communication | Advisor Trust | Scoop.it
There is a comprehensive agreement that ‘authenticity’ is essential to establish and then nurture any relationship, be it business, social or personal. Would you ever interact with anyone whose ‘inauthenticity’ was apparent?
Grant Barger's insight:
Interesting perspective from a PhD. For advisers who want to display their authenticity there's a thing called tangible alpha. And it creates an alignment between your behavior and your purpose. It is also important to note that being authentic does not mean that you are going to be the right choice for all people but by demonstrating your tangible alpha your authenticity comes through in a more rapid fashion than the usual discovery process of getting to know someone over the course of a normal relationship. The growth of any advisors practice relies heavily upon this process. If you want to find and demonstrate your true authenticity you must know your tangible alpha.
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New York Stock Exchange’s new owner: small-time investors are getting ripped off

New York Stock Exchange’s new owner: small-time investors are getting ripped off | Advisor Trust | Scoop.it
It's true, says Jeff Sprecher, CEO of the company that is about to buy the New York Stock Exchange: Small-time investors really are getting ripped off.
Grant Barger's insight:
We'll... Whom can they trust? Is it you?
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US House passes bill to delay fiduciary rules at SEC, Labor Dept - Reuters

US House passes bill to delay fiduciary rules at SEC, Labor Dept - Reuters | Advisor Trust | Scoop.it
KUTV 2News US House passes bill to delay fiduciary rules at SEC, Labor Dept Reuters The fiduciary bill, sponsored by freshman Republican Representative Ann Wagner of Missouri, targets rulemaking efforts at both the U.S.
Grant Barger's insight:
The bill calls for the SEC to undertake additional study before writing any new rules to harmonize standards between investment advisers and stock brokers to determine whether regulatory changes would help or hurt retail investors.
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