The language we use with clients is like any other aspect of our service: it needs to be catered to a client's needs and preferences, not ours. There are industry buzzwords which have lost their meaning through overuse. There is industry jargon we use that may make us feel authoritative but is really confusing to clients, or even off-putting. This may be one reason they don’t tell us their goals. It’s a serious issue because it affects our ability to serve them at an optimal level.
 
A recent survey of 1800 investors with investable assets of greater than $100,000 indicates the language we use with clients matters. Another study revealed that a significant number of clients do not tell advisors their goals, even if they think it’s important to do so.
 
Words that got a negative reaction with this group were:
  • Fluctuating – 76% of respondents
  • Fee-based – 64% of respondents
  • Variable – 52% of respondents
Words respondents did like included:
  • Savings
  • Growth
  • Goal
  • Insured
  • Portfolio
  • Trust
  • Return
  • Results
  • No fee
Since clients like these words, we can be use them as entry points to dig deeper in our conversations. We can ask questions around these words that will lead us to clients' real goals, not just the answers they put on the “goals” section of the questionnaire we gave them.
 
The goals survey was conducted in January. Twenty percent of 100 respondents with over $5 million in investable assets said they keep their goals private. A mere 31% said they have told their advisors about their goals.
 
This means that 69% either keep their goals to themselves or only partially reveal their goals to their advisors. Less than 20% of those who tell their advisors about their goals said that their advisors benchmark portfolio performance against attaining those goals.
 
Clients aren’t even clear about the differences in wealth management, investment advice, and financial planning (from the language survey). If we aren't talking to them in a language they understand and are comfortable with, then how are they going to be able to tell us their goals? And if we don’t know their real goals, how can we possibly give them optimal advice?
 
Even the word ‘optimal’ should be positioned in terms of what’s optimal for the client rather than what’s optimal for their portfolios. This is a “heads up” that our industry needs reinventing. The fact that these kinds of surveys are being conducted tell me that’s already in process. It’s time for us to get on board.

 

This Website Is For Financial Professionals Only


A Strategically Focused CE Curriculum

With classes approved for over a decade by the CFP Board, IWI, and NASBA, Advisors4Advisors CE classes are an optimal knowledge stream for CFP®, CIMA®, CPA, CPA/PFS®, CFA®, and other practitioners. It's not a grab bag of speakers willing to sponsor CE content. Nor is it a one-man CE course. It's a group of subject matter experts with amazing communication skills and a history of thought leadership that, together, give advisors a well-rounded knowledge system for running a professional practice ethically and intelligently.

CE Since October 2008

A4A CE classes for financial professionals began in October 2008, the week Lehman Bros. collapsed. Initially billed as “The Financial Crisis Webinar Series,” A4A connects advisors with authoritative sources on investing, tax, and financial planning, chosen by A4A Editor Andrew Gluck, a veteran financial reporter. A4A members get a stream of CE classes for an advisor who: 

  • holds a CFP®, CIMA®, CPA, CPA/PFS, CFA or other designation requiring CE annually 
  • values monthly CE classes by Fritz Meyer, Craig Israelsen, Bob Keebler, Frank Murtha, or Andrew Gluck
  • diversifies a core of client portfolios in low-expense funds
  • invests based on MPT and economic fundamentals
  • advises on tax and financial planning as well as investing
  • needs financial counseling skills
  • wants the Certified Financial Counselor™ designation 
  • is building a brand as a thought leader locally or in a niche
  • wants the facts when bad news breaks
  • wants CE aligned with a content marketing system
  • wants 24/7 access to CE on-demand
  • insists on objective evidenced-based tax and investment planning analysis
MEMBER REVIEWS 
William Desormeau, Jr.  
It is not possible for me to overstate the cumulative value that Craig, Bob and Fritz have added for over 10 years to my investment advisory practice, as well as for personal and family financial planning. A4A gets my highest recommendation
Lynn Najman, CFP®
I’ve subscribed to A4A since its inception, and always find it intellectually stimulating and on point. It’s one of the few CE solutions out there that doesn’t waste my time by pushing product or talking down to me.

PeteDeacon-CPA-CFP

Pete Deacon, CPA, CFP®
A4A has had a profound effect on my business. Since 2009, I’ve relied on the consistent messaging and updates to run my business successfully. Being able to present the information from Bob, Fritz, and Craig's ongoing CE webinars has been a significant benefit.

fredericMayersen-phd-cfp

Fredric Mayerson, MBA, PhD, CFP®
I've been a financial professional and professor of finance for 35 years and find Fritz Meyer and Robert Keebler to be among the most engaging, incredibly knowledgeable, and experienced presenters I’ve encountered. They deliver an extraordinary amount of information in an extremely interesting way — sequentially and developmentally, utilizing pedagogical tools and techniques that few possess.  A4A to is the most consistently excellent CE program available.  
Ron Roge, MS, CFP®
I’ve been attending A4A many years because the CE classes are outstanding, and my time is valuable. Though I have over 35 years of experience, I’m always learning something new on A4A. I attend fewer conferences now because the CE is generally not advanced. If you want to learn from the best, in a faster, easier, and less expensive way, I highly recommend A4A.

John R. Day, CPA/PFS®

I’ve been a member since 2011 and never miss the monthly webinars with Fritz Meyer. I appreciate Fritz’s independent views on the economy and markets and Bob Keebler keeps me updated on excellent tax planning ideas. A4A is a great value!

NormanPolitzinerCFP

Norman Politziner, CFP

I wouldn't miss a Fritz Meyer webinar unless my pants were on fire. I've relied on Andrew Gluck's knowledge systems --client communications and CE -- for two decades. It's simply the best solution for tax, financial, investment, and risk-management professionals.®   

Dan Hawley, CFP® 

A4A, for over a decade, has been a great resource for useful and accurate information and CE. A4A and Advisor Products are bargains for an advisory practice. 

KevinBrosious-CFP-CPA-PFS

Kevin Brosious, MBA, CFP®, CPA/PFS®

I get CPA CE credit and CFP credit for the webinars.  But not only that, the A4A content is terrific