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Three Technologies Financial Advisors Need

Three Technologies Financial Advisors Need | Technology | Scoop.it
Technology like smartphones, tablet PCs such as the iPad and similar Internet-enabled devices have become ubiquitous in everyday life. They're also fundamentally changing investors' attitudes about how to best manage their financial lives -- and who they should seek out for guidance and advice in the process.

These changing attitudes have major implications for financial advisors. To stay competitive and attract the next generation of affluent investors, RIAs will need to increasingly rely on the latest technology to meet their clients' expectations as they evolve.

The good news: RIAs can use the same technologies that are driving behavioral changes to deliver an enhanced level of service -- a highly personalized Know Me experience. What's more, those technologies are easier than ever for RIAs to access and integrate into their practices.
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Brian Blawas's comment, April 4, 2014 6:27 AM
2.3 Personal financial advisers mainly work for financial and insurance companies. In 2012, 20 percent of personal financial advisers were self-employed.Most personal financial advisors work full time, and about 3 out of 10 worked more than 40 hours per week in 2012. They often go to meetings on evenings and weekends to meet with existing clients or to try to bring in new ones.(http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm#tab-6)
Brian Blawas's comment, April 4, 2014 6:29 AM
Because of the current population dynamics,employment of personal financial advisors is projected to grow 27 percent from 2012 to 2022, much faster than the average for all occupations.<br><br>The primary driver of growth will be the aging population. As large numbers of baby boomers approach retirement, they will seek planning advice from personal financial advisors. In addition, longer life spans will lead to longer retirement periods, further increasing demand for financial planning services.(http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm#tab-6)
Brian Blawas's comment, April 4, 2014 6:33 AM
2.5Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require a specific field of study for personal financial advisors, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.Self employment usually harder because you have to promote not only yourself but also the business.(http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm#tab-4)<br>
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Technology’s Impact on the Value of Financial Advice

Technology’s Impact on the Value of Financial Advice | Technology | Scoop.it
Financial advisers are putting greater emphasis on technology, but it is unclear whether that is better for their clients.
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Brian Blawas's comment, April 4, 2014 6:41 AM
2.8 The lack of job security should not scare you though because at any other cooperate job you could get laid off and the earnings potential for self employment is larger.(http://www.openwork.uk.com/blog-post/why-become-a-self-employed-adviser/)
Brian Blawas's comment, April 4, 2014 6:43 AM
2.9 Even though you may become self-employed, it’s likely you’ll work within a larger firm, giving you all the benefits of working within a team.When i intervened a estate planner i noticed that even know he had his own company he actually just had a franchise of a larger well known company.( http://www.openwork.uk.com/blog-post/why-become-a-self-employed-adviser/)
Brian Blawas's comment, April 4, 2014 6:45 AM
2.10 The independence self-employment brings can be liberating too. When you’re self-employed, you’re in control of your working hours and financial targets. Most people feel better if they can control the business and run it their way. Also the potential to make more money then corporate employed financial advisers. (http://www.openwork.uk.com/blog-post/why-become-a-self-employed-adviser/)