The Practice Management Channel

Seven Steps to Hire Great Team Members

To make a hire, or ensure someone you have is operating at full capacity, here are my “Seven Tips to Hiring Success.”

My Proposal to Help Female Advisors

In response to the parade of vile perpetrators of sexual misconduct, here’s a step that we can all take to help women. I’ve already taken it.

Why Clients Ignore Your E-Newsletters

Even if you don’t mislead or offend clients, if you bore them, the time and effort to communicate with clients is wasted. There are six components to doing a great job of communicating online. While some advisors get two or three of them right, almost no one nails all six … and as a result, you aren’t getting the return that you could.

The Federal Reserve versus Moore’s Law

How technology slows inflation across the economy.

Six Words that Drive Compliance Crazy

Here are six phrases to avoid using in your marketing copy if you want your chief compliance officer to like you.

Household Debt Rises to New Record of $13 Trillion

A new report from the Federal Reserve Bank of New York last week found that US household debt hit another record high in the 3Q of almost $13 trillion. The largest increases came in student loans, auto debt and credit cards. I’ll share the details with you just below.

Igniting the Spark!

I lack motivation to work with my staff and mentor or coach. Is this what happens to every advisor who has been doing this for a while?

The Powerful Relationship Between Dating and Closing Prospects

Being rejected by someone you hoped to date leaves a painful memory, just as does losing a prospect who was a good fit for planning services. Here’s the powerful lesson that avoids losses – in both situations!

Green Grass and High Tides: Earnings Stellar But Not Without Risk

The book is closing on third quarter earnings, which were stellar; but is it time to worry about a bar set too high in 2018?

How Have Hurricanes Harvey, Irma and Maria Impacted the Municipal Bond Market?

The financial impact of 2017’s three devastating hurricanes has varied greatly depending on the region affected. From a credit standpoint, the most important takeaway is that each region’s ability to withstand the financial impact of the storms depends on its credit quality ahead of the storm.

On My Radar: A Fatal Attraction for the Slim Chance

My daughter, Brianna, and I were recently listening to a Charlie Rose interview on Bloomberg Radio. I love the way he asks direct questions. The interview featured Jeremiah Tower, a little-known chef who pioneered a restaurant revolution in the 1970s that gave rise to the culinary style known as “California Cuisine.”

How do you measure an active manager’s success?

Financial research and technology can dissect individual funds to attribute the reasons behind performance.

Seven Tips for a Firm Name Prospects Won’t Forget

Most firm names are so bland and nondescript that it’s like having no name at all. There’s zero brand identity. Here are some of the worst mistakes advisors have made naming their firms.

Bonfire of the Absurdities

This week’s letter will take a look at the growing number of ridiculous, inane, and otherwise nonsensical absurdities that fill the daily economic headlines. I have gone from the occasional smile to scratching my head now and then to “WTF” moments several times a week.

Valuation Sensitivity

Has the stock market gotten too expensive? Overall, we would say it hasn't. But we do feel some sectors are better positioned than others.