Better conversations. Better outcomes. | Presented by BMO Global Asset Management: Recent Episodes
Ben D. Jones and Emily Larsen with BMO Global Asset Management
In today’s environment, financial advisors are faced with many challenging conversations that meet at the intersection of money and emotions. Enter Better conversations. Better outcomes., presented by BMO Global Asset Management. This podcast seeks to enhance advisor conversations by exploring topics relevant to today’s trusted advisors. Ben D. Jones and Emily Larsen interview experts covering wealth advising from every angle and provide ideas for client engagement, portfolios and practice management that can be put into action today.
Make your next conversation a better conversation. Learn more at bmogam.com/betterconversations.
After five years and 136 episodes, it is time to say goodbye.
In our last episode, we wanted to continue where we started this journey by providing all of you with some actionable ideas and learnings that might be helpful for your practice on the road ahead. We'll share stories and memorable experiences with you and identify several enduring principles that our guests helped us uncover to help you shape the future that you want to create.
Thank you to all of our guests and listeners for five great years. We hope that you continue to access, use, and revisit these episodes, and most importantly, put them to work to have better conversations and better outcomes in your practice, your portfolios, and your financial planning.
This month marks our five-year anniversary for the Better Conversations. Better Outcomes.podcast. In recognition of this milestone, we're going to throw back to our first episode.
Every investor has a unique perspective on the world, unique reasons for investing, and unique goals for their investment portfolios. In this episode, we explore how financial advisors can use personality archetypes to create better connections with their clients. How can you better communicate with investors who might feel that their advisor should have foreseen change in the markets?
In this episode, Matt Smith lays out four investor archetypes, each with their own set of personality attributes: Guardians, Artisans, Idealists and Rationals. This episode details each of the archetypes and how you as a financial advisor can best cater to your clients’ personalities.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
The most impactful financial decisions for your clients often come around some type of life event or transition – and for many, it comes at a time of heightened emotional state, either positive or negative. As a financial advisor, helping to meet your clients on level ground and produce a positive outcome from this change is key to your, and your client’s, success.
Ross Marino joins the podcast to discuss the best ways to guide your clients through these drastic changes in their lives. Ross will provide examples of these scenarios and discuss his series of four questions to answer before working towards a next-steps financial decision.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Medicare is the closest thing in the U.S. to a single-payer healthcare system, but it comes with trade-offs, including direct implications to a client’s HSA plan, social security and more. When is the right time for your clients to enroll?
Peter Stahl returns to the podcast to discuss planning for retirement with means-testing and taxable income in mind. He helps us break down the Medicare program, explain the pros and cons for enrolling in Medicare when eligible, and emphasize the importance of building sources of tax-free wealth before retirement.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
A couple’s inability to communicate about their finances is one of the leading causes of a breakup. As an advisor, it's your responsibility to help clients navigate the challenges of financial planning, even in the context of love and relationships.
Vonny Carrington joins the podcast to share many actionable insights for advisors to use with couples at any stage of a relationship, from engagement to moving in together, to marriage, divorce and even widowhood.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Clients looking for a new advisor or firm are faced with an overwhelming set of options. One way to set your practice apart is by giving a lot of thought to developing an intentional client experience.
Our guest today is Angie Herbers, Managing Partner of Herbers and Company. Angie handles strategy management and innovation for independent advisory firms who desire to grow.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Referrals tend to have high conversion rates and lower costs, but often they seem a bit elusive and sometimes random. Is there a better, more consistent way to generate the right type of referrals for your business?
Stacey Brown Randall joins us to discuss ways you can generate referrals without even asking for them, including a five-step outline that can be used to develop a formal referral plan.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
As financial planning continues its evolution, there are many areas of nuanced expertise that are emerging to help clients successfully navigate the intersections of life and money. Advanced care planning is one of those areas where advisors and clients can plan with some certainty for a period of extreme uncertainty.
Kim Fischer joins the podcast to discuss the importance of having a plan in place should a client not be able to make decisions about their health or care for themselves. She covers why the most powerful part of this planning happens at an emotional level when a client and their advocate come together with clarity about what is important to them.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Before last year's COVID-19 pandemic, we would hear about advisors getting together with some clients and prospects for arts or charity projects, or even hosting a wine tasting. But unfortunately, the pandemic made many of these events virtually impossible to hold as this new normal really shifted things.
Samantha Russell joins the podcast to discuss what it might look like to return to in-person events in a post-COVID era. Plus, she discusses the notable advantages that moving some of these events permanently into a virtual format may have on your practice.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Alternative assets, such as cryptocurrencies, art, private equity and more, have seen a surge in press coverage over the past decade, to the point that many of these alternative investments have become more mainstream than ever before.
Tom Kurinsky of Millenium Trust joins us to discuss the ins and outs of holding these alternative assets in IRAs and how you can advise your clients on integrating these investments into their portfolios.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
You’ve done a lot of work to get a presentation in the boardroom, and you have one opportunity to make an impression and earn their trust. There are ways you can improve your chances of success before you even walk in the door.
Randy Fuss joins the podcast to help you take full advantage of your opportunities in front of a board, including ways in which you can understand the motivations and dynamics of the room by doing some homework beforehand.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
The COVID-19 crisis exposed an already dire problem – families could not come up with money for unexpected expenses, such as replacing a flat tire or repairing a busted pipe. As such, many advisors have been reemphasizing the importance of optionality and financial wellness to help their clients and communities properly prepare for these unpredictable emergencies.
Peter Welsh joins the podcast to discuss the importance of having a dedicated plan in place for dealing with unexpected expenses. Plus, he also discusses how his team has developed an after-tax emergency savings plan that starts in the workplace through paycheck deduction.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Retirement is, for many, the culmination of their life's work. As their financial advisor, you've been helping your clients strategize and plan for that milestone. But what happens if what you've been planning for changes right before the goal line? We're seeing that today in the world of retirement income.
Derek Sasveld and Scott Kimball return to the podcast to talk about the actionable strategies you can take to combat this shift in the income landscape, creating a better outcome in retirement for your clients.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
2020 was a year with very few normal moments. Despite the uncertainty that the pandemic provided, we continue the tradition of providing you a recap of the best learnings from the year. And there were many!
Ben and Emily are joined by Nate Stading for a discussion on the key takeaways from the podcast in 2020, including how the pandemic has shifted the way financial advisors should analyze plans, portfolios and their practice heading into 2021 and beyond.
Thank you to all of our guests that joined the podcast for the first time or returned to the podcast this year. Your insights are helping advisors around the world drive better outcomes for their clients.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Developing a relationship with your clients and understanding their aspirations and objectives is key to successful planning strategies. Many clients are not aware that their values can increasingly play a role in how they invest. So how do you open up conversations with clients about their values and better understand their perspectives surrounding environmental, social and governance (ESG) investing?
Kristi Mitchem, BMO Global Asset Management’s CEO, joins the podcast to discuss the impact that ESG investing can have on client portfolios, both to align with your client’s beliefs as well as meet their financial goals. Plus, she shares new proprietary research that can help you and your clients discover the role that ESG can play in their long-term strategies.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Being a great advisor requires coaching people toward their financial aspirations. However, many advisors reach a plateau, where focusing on the clients you already have consumes all your capacity.
Bill Whitehead joins the podcast to discuss how to ensure you don’t lose sight of your vision of success. Topics include strategic planning and the benefits of having a coach by your side to help you execute on your plans for the years ahead.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Volatility in the markets. A historic election. A global pandemic. 2020 has thrown us all into an interesting period of irreducible uncertainty, and now more than ever, clients are looking to you to provide them with “real” financial advice in order to navigate these turbulent waters.
Carl Richards returns to the podcast to talk about the rapid acceleration and shift to “real” financial advice and the emergence of a secret society of financial advisors. Also, if you ever wondered what clients want from financial advisors, Carl shares their perspectives.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Many of you have succeeded in your practice by wearing multiple hats. But playing the part of CEO, CMO, COO and advisor all at the same time can be exhausting. That’s where an executive assistant, or EA for short, can come in to provide you with better leverage for your time and results for your business.
Blake Stratton joins the podcast to share behind-the-scenes insights into how to hire, work with and delegate to a world-class executive assistant. You may think you can’t afford to hire, but you might learn you can’t afford not to hire an EA for you and your practice.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations
Whether speaking at an event, in a group, or a one-on-one with a client, communicating effectively is a critical part of your role as a financial advisor. This has become even more pronounced with the COVID-19 pandemic, as many of these conversations have moved into the digital realm.
Joel Weldon, creator of the Ultimate Speaking System, joins the podcast to share his insights from doing over 3,000 speeches, along with some of the tools that he uses to help make concise, clear presentations that connect with an audience of any size.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Helping a family manage and maintain their wealth over multiple generations can be a complicated and potentially unhappy affair.
Courtney Pullen joins the podcast to provide actionable advice to help you navigate the challenges of multigenerational wealth, including why his background in psychology has helped him find success in this area of wealth management.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations
A big part of a financial advisor’s work is to help clients budget their money towards different objectives and time horizons. Bucketing is a concept you may be familiar with, which can enable people to understand where their money is today, and where they want it to be in the future. The behavioral concept that provides the foundation for bucketing is known as mental accounting.
Jason Smith joins the podcast to discuss his mission to simplify the planning process and strengthen financial literacy around the globe, including details from his book The Bucket Plan.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
For many, economics is viewed only through the lens of numbers. But what can economics teach us about planning and making life decisions?
Russ Roberts joins the podcast to discuss the intersection of economics and life. From embracing uncertainty to evaluating financial tradeoffs, Russ will help broaden your perspective and apply economic principles to your clients’ daily lives.
Diversity and inclusion in the workplace is an important component to the success of your firm. In this episode, we’ll discuss ways to openly approach diversity and inclusion in the workplace with a desire to improve and understand.
Fellicia Foster is the U.S. Head of Diversity & Inclusion for BMO. Fellicia discusses how a diverse, inclusive culture can lead to tangible benefits for your practice, including higher performance from your team and a better understanding of your customers.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/fostering-a-diverse-and-inclusive-culture/?utm_source=Vanity%20URL&utm_medium=podcast%20platform
Having a tough conversation can feel like a daunting task for everyone involved. However, there are strategies you can employ to ensure a better outcome from these conversations.
David Wood joins the podcast to discuss his four-step process for mastering tough conversations. Plus, David and Ben walk through an example of a tough conversation that you may come across as a financial advisor.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/turning-tough-conversations-into-better-conversations/?utm_source=Vanity%20URL&utm_medium=podcast%20platform.
Retirement policy, interest rates and market volatility have made retirement planning more challenging for clients and advisors alike. What are the philosophies, opportunities and challenges you need to be aware of to help your clients navigate decumulation in today’s environment?
In this episode, we’re joined by Jamie Hopkins, Director of Retirement Research at Carson Coaching and co-creator of the Retirement Income Certified Professional (RICP) designation. Jamie discusses the opportunities and challenges associated with creating retirement income in this new environment, including how to help shift the mindset of individuals to adapt to these changes.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/retirement-income-planning-in-the-new-normal/?utm_source=Vanity%20URL&utm_medium=podcast%20platform.
(Originally aired in September 2016). This episode centers around family conversations that should happen when investors are planning for their estates and legacy. In this episode, our guest is Dr. Amy D’Aprix , BMO Financial Group’s Life Transition Expert. She discusses properly approaching challenging conversations, enhanced estate planning, planning beyond the will, and the unique position of the financial advisor.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/family-conversations-that-should-not-be-avoided/.
As the coronavirus pandemic surges worldwide, we hope you and your loved ones are safe and healthy.
In an effort to support your client conversations during these times, we recorded a special episode with Steve Sanduski full of actionable ideas to help both you and your clients thrive during and coming out of this period.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/coaching-clients-through-uncertainty/?utm_source=Vanity%20URL&utm_medium=podcast%20platform
The longest bull market in history has come to an end. The coronavirus, combined with oil markets, started the correction in late February of 2020. However even prior to this recent news, many investors and their advisors have been looking to mitigate risk in their portfolios, and low volatility investing has swelled in popularity.
Chris Jenks returns to the show to discuss the ins and outs of low volatility investing and its potential impact on portfolios during times of market volatility.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterconversations.
Finding the financial planning software that’s a fit for your practice can feel overwhelming. There are many different solutions that have various features, benefits and client interfaces, and it can be hard to determine where to start.
In this milestone episode, Michael Kitces from Nerd’s Eye View joins us to discuss the differences between many of the large planning software providers in the financial planning industry, helping you set a game plan to choose the right fit for your business.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/how-to-choose-the-right-financial-planning-software-with-michael-kitces/?utm_source=Vanity%20URL&utm_medium=podcast%20platform
A special thank you to all of our listeners and guests for joining us through our first 100 episodes. To look back at our first 100 and to join our podcast newsletter, visit us at bmogam.com/betterconversations.
What if you could have advocates in your target market promoting your brand? Word-of-mouth marketing has one of the highest ROI’s but is one of the hardest to create.
Sarano Kelley returns to the podcast to explain how creating – and maintaining – centers of influence can add value to your clients and your business.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/fostering-success-with-centers-of-influence/
On December 20, 2019, President Trump signed appropriations legislation which included the passage of the SECURE Act. This legislation is broadly about increasing retirement security and making it easier for small businesses and part-time employees to access retirement plans, but there are some additional components to the legislation that will have an impact on retirement plans.
Mike Barry joins the podcast to discuss those key components of the SECURE Act, including what it means for retirement and financial advice moving forward.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/secure-act-retirement-policy-you-can-use/.
At the Excel 401(k) conference in October 2019, we heard from a panel of advisors who managed to double their business in a relatively short time. How did they do it, and what ideas can you implement to help your practice grow at a faster rate?
Our panelists, David Griffin of Atlanta Retirement Plans, Jania Stout of Hightower, and Robert Scherzer of Pensionmark, discuss what they learned on their path to 2x, including how they conquered the challenge of growing so rapidly.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/secrets-of-2x-advisors/.
Our guests in 2019 came armed with invaluable lessons for your practice and your clients alike. If you’re new to the podcast or simply looking for some inspiration, this episode should act as a great refresher to jump start ideas as we enter 2020.
We’re joined by four BMO colleagues who work with financial advisors on a daily basis. Together, they share the information and ideas that stuck with them – and the advisors they work with – long after they listened to the show.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/best-of-2019-actionable-ideas-to-take-into-the-new-decade/.
Status quo can be a hard thing to break away from. For one advisor, it was a life event that turned into a springboard for transformation.
In today’s episode, Andy Hart and Julia Carlson join Ben Jones for a special fireside chat. Hear how Julia broke out to build a thriving practice and how she has translated her vision into reality. You will hear several actionable strategies from both guests that you may want to leverage as you charge into 2020 and beyond.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/how-one-advisor-transformed-her-business-off-a-life-event/.
Every fall, BMO brings together investment strategists, economists, and leaders from across the industry to develop a medium-term outlook on the global markets. With topics ranging from decarbonization and climate change to globalization and the risk of a U.S. recession, the Global Investment Forum helps paint a comprehensive picture of what may drive your clients’ portfolios in the years ahead.
Our guest is Mike Dowdall, Investment Strategist and Portfolio Manager with BMO’s Multi-Asset Solutions Team, based out of Chicago. We discuss the key takeaways from this year’s forum and what we’ll be watching as we enter the new year.
To view the report, go to https://www.bmogam.com/us-en/advisors/gif-2019/
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/themes-from-the-2019-global-investment-forum/.
Over the last year, China’s equity markets gained greater global presence when China-A shares were listed on the MSCI and FTSE indices. Yet, the government has been slow to open more investment opportunities to foreigners. In this episode, we explore this rapidly evolving economy and how U.S. investors should view China in the context of their emerging markets exposure.
Our guest is June Lui, a Portfolio Manager for the Greater China Strategy at LGM, which is one of BMO’s specialized investment teams. We couldn’t think of a better person to ask about current events in China and uncover some actionable ideas for how advisors can incorporate China into a well-diversified portfolio.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/opening-for-business-china-a-shares-and-a-diversified-portfolio/.
The independent RIA channel has had sustained growth for over two decades. The desire for independence, innovative service models and transparency has fueled rapid growth. Bernie Clark, Head of Schwab Advisor Services has been at the forefront of this evolution from a cottage business to over a 4 trillion dollar industry today. Bernie’s passion for helping independent advisors succeed in this space makes him the perfect person to share perspective and offer actionable advice for independent RIAs and those considering the move towards independence.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/forces-shaping-the-future-of-advice-with-schwabs-bernie-clark/.
What does an inverted yield curve tell us? And how much should we plan for a recession? In this episode, we dive into current events in the fixed income markets and what it means for portfolios and clients.
Our guest is Scott Kimball, Senior Portfolio Manager with BMO’s fixed income team. We discuss the recent FOMC meeting, the interest rate cuts and how advisors should be looking at fixed income going into 2020.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/a-brave-new-fed/.
Sometimes, simply educating people about how to save and budget isn’t enough to incentivize healthy choices with their money. There are deeper, more advanced strategies that advisors can use to help clients improve their financial security and wellness.
Today our guest is Wendy De La Rosa. Wendy is the co-founder of Common Cents Lab, a financial research lab that uses behavioral science and cognitive psychology to develop interventions that help people make better financial decisions. Wendy has a ton of actionable advice for working with clients, and it’s all backed up by data from studies that Common Cents has run with a variety of partners in the industry.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/how-advisors-can-influence-change-in-client-behaviors/.
78% of Americans are living paycheck to paycheck, 43% of student loan borrowers are not making payments and nearly half of all employees can’t cover a $400 emergency. In an effort to help employees understand and improve their personal financial health, many plan sponsors and their advisors are turning to workplace financial wellness programs.
Phyllis Klein is a senior director at Captrust Financial Advisors, a firm that specializes in institutional advisory work. In this episode, Phyllis discusses the benefits and challenges of helping employers implement financial wellness programs for their employees.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/its-personal-the-growing-need-for-financial-wellness-programs/.
As a financial advisor, you have a lot of responsibilities in managing your clients. At times you might not even feel like you have the time and resources to shift your priorities to grow your business further.
Enter Matt Halloran, CEO of Top Advisor Marketing. Matt’s mission is to help businesses “rise above the noise” with a digital marketing strategy built on focused, custom content creation. Today we’re talking with him to learn the most important tips about developing a marketing strategy.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/modern-marketing-components-of-an-advisor-marketing-strategy/.
CFP, CPA, CLU, ChFC, RICP. You likely know what these designations are, but do your clients? And how important are these designations when prospective clients choose a financial advisor?
Mike McGlothlin from the Society of Financial Service Professionals joins the podcast to discuss how designations act as a reinvestment in yourself and can provide outward credibility for your practice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-power-of-designations/.
Talking about life insurance as part of a financial plan isn’t always easy, but it is important. What steps can you take to ensure these difficult conversations make it into your client’s financial plan?
We’re joined by Alison Salka and Jeremy Barlow to discuss both the consumer perspective and the advisor perspective on the topic of life insurance. Together, these perspectives can help enhance your conversations with your clients and ensure their financial plan has an effective risk management plan in place in the event of an untimely passing.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/risk-management-life-insurance/.
Morningstar is one of the best-known research organizations in the financial services industry. They're a company you probably interact with every week in some shape or fashion, whether you're checking out ratings of a fund or digging deeper into analysis using one of their platforms.
We’re joined by Jeff Ptak, Global Director of Manager Research at Morningstar, to discuss insights around manager research that may help you improve your research and portfolio construction process.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/inside-the-research-of-morningstar/.
The educational workshop can be an effective marketing practice and a way to provide education to your local community, helping to grow your business by creating a loyal client base that views you as a leader in financial planning.
We’re joined by Mike Thurman, co-founder of White Glove, as he showcases how other financial advisors have used educational workshops to turn new attendees into clients. Mike shares tips from planning your workshops all the way through the post-workshop follow-up to ensure you can get the most out of your investment.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/becoming-a-local-thought-leader-with-educational-workshops/.
Some advisors are doing what they’ve always wanted to do, and building practices that are incredibly fulfilling. Others might have inherited or succeeded a practice and are looking for a way to make it their own. Today, we discuss how to “Find your fire within” in regards to your practice and your client’s goals.
Jason Barnaby joins the podcast to discuss the ways you can rediscover what you love to do as an advisor. Plus, he shares tips and ideas for how you can help your clients find their fire.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/fanning-the-flame-for-your-practice-and-your-clients/.
This is the latest in a series of episodes where we take you “in the trenches” with financial advisors that are using modern media strategies to build their business.
Consistent client communications can be a challenge, but doing so can help bolster the relationship an advisor can have with their clients. What if that communication could potentially increase the visibility of your firm to potential new clients at the same time? A blog may be the answer.
David Armstrong of Monument Wealth Management joins the podcast to discuss the ways in which his blog, titled Off The Wall, helped people learn more about his business before an initial meeting. Plus, he shares his top tips for writing your own blog, including the importance of sounding authentic in your writing.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/modern-marketing-the-secrets-to-a-successful-blog/.
It’s no secret that the advisor workforce is aging, and the old ways of recruiting and retaining advisors haven’t been sufficient in meeting demand for new talent in the industry. Some firms have turned to new, unique ways of advisor development and are seeing successful outcomes for their business.
Matt Ransom of Raymond James joins the podcast to discuss today’s advisor demographics and address some of the barriers of entry for those thinking about getting into the field. Plus, he shares how Raymond James’ award-winning* Advisor Mastery Program (AMP) has helped develop new advisors and increased retention rates for the firm.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/developing-the-next-generation-of-financial-advisors/.
*In October 2017, Raymond James’ Practice Management was named a winner in WealthManagement.com’s Industry Awards in the Broker/Dealers: 1000+ Advisors Practice Management category. For more details, visit wealthmanagement.com.
An investment policy statement is an important way to document goals and the plans to achieve them. While they are not a requirement as part of an investment plan, having one in place can help keep a plan on course during times of stress and uncertainty.
Derek Sasveld joins the podcast to break down the basics of investment policy statements, including the four components of a well-written investment policy statement.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-dos-and-donts-of-investment-policy-statements/.
April 15th has come and gone. And with changes to the tax code taking effect in 2018, advisors and individuals may have had a different experience than in years past. Your clients may even be turning to you for advice on how to better manage their tax planning for 2019.
Rick Kollauf joins the podcast to discuss the details of the new tax rules. Plus, he shares how getting the tax conversation right can strengthen the relationship between advisor and client.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/tax-strategies-to-optimize-your-client-conversations/.
In this episode, we explore strategies for building an effective pipeline system and improving your client acquisition efforts.
Our guest is Michael Salmon, founder of Salmon Academy and author of Winning More Business in Financial Services. He shares the concrete, actionable steps that you can take today to overcome your hurdles to growth, including the five strategies to meet your client acquisition goals and the importance of building and managing your pipeline.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/power-of-the-pipeline-client-acquisition-strategies-to-grow-your-practice/.
The cost of higher education has been climbing for many years, making it harder for families to afford to send their children to college. Most advisors are familiar with what a 529 plan is, yet only about 18% of children have these plans in place¹.
Mark Kantrowitz of SavingForCollege.com joins the podcast to discuss how advisors can bridge the gap and become advocates for creating college savings plans. Plus, we discuss the importance of starting early in a child’s life, even in small increments, rather than waiting until high school.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/funding-education-with-a-529-plan/.
1 - Source: College Savings Plan Network, U.S. Census Bureau
Blockchain technology is a hot topic in the financial world. What is it, and how may this technology impact the wealth management industry in the years to come?
We're joined in this podcast episode by Professor Lamont Black from DePaul University and Aditya Shanker from BMO Capital Markets, who both have been researching blockchain and its potential implications for financial professionals. They discuss the differences between the often-associated blockchain technology and cryptocurrencies such as Bitcoin, plus why it is important to keep an eye on how blockchain becomes adopted in the near future.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/beyond-the-hype-blockchain-technology/.
According to a 2016 Return on Disability Group report, over 56 million people in the United States identified themselves as having a disability. This demographic, along with their caretakers, requires specialized financial planning, but are often left underserved by their advisors.
We’re joined by Bill Harmon of Voya Retirement and Jerry Hulick of Caring Consulting Group to discuss the key role that advisors should take in working with special needs families, including how expanding your practice to focus on these individuals can create a win-win for everyone involved.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/financial-considerations-for-families-with-special-needs/.
In November of 2018, the United States-Mexico-Canada Agreement, also known as USMCA, was signed as a show of intention to replace NAFTA. What does this potential new trade agreement mean for markets, both domestically and globally? And what impact will it have for your clients?
Our guest this episode is Michael Gregory, Deputy Chief Economist for BMO Capital Markets. We discuss the importance that trade agreements, historically with NAFTA and looking forward to USMCA, have on North American economies, including the sectors that benefit the most from these agreements. Plus, Michael discusses the impact that USMCA may have on investors and advisors.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/talking-trade-from-nafta-to-usmca/.
Attending a conference is a great way to network, learn about the latest trends, and to just escape from your day-to-day routine. But how do you go about selecting which conferences you should be attending? And how do you maximize what you can get out of each conference to the benefit of you and your team?
Ben and Emily hosted a roundtable discussion at IMPACT® 2018 to discuss how attendees are maximizing conferences for their practice. Our roundtable guests discuss the strategies they employ for their practices, such as networking while eating, and share their tips for how to get the most of your conference attendance.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/designing-the-best-approach-to-conferences/.
As life expectancy numbers continue to increase, the need for more careful and more precise financial planning for retirement has increased with it. A startup called Genivity, one of the winners of BMO's 1871 FinTech partnership program in 2017, is helping financial advisors have better conversations with their clients by incorporating health history insights into the financial planning process.
Heather Holmes, founder and CEO of Genivity, joins the podcast to discuss common misconceptions about longevity and the financial planning process that has historically surrounded it. Plus, she discusses Ben's and Emily's results of Genivity's HALO assessment, where clients fill out information related to their health, family history and more to help advisors set a framework for the client's retirement plan.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/creating-more-precision-with-life-expectancy-planning/.
The Retirement Enhancement and Savings Act of 2018, or RESA for short, is a piece of bipartisan legislation currently making its way through Congress. The legislation, introduced in the Senate, proposes to amend the internal revenue code and ERISA, with the ultimate goal of helping more Americans obtain access to retirement savings vehicles. Currently, an estimated one-third of private sector workers do not have access to a workplace retirement savings vehicle and an estimated 42% of Americans are not financially ready to go into retirement.
We’re joined by Congressman Mike Kelly, who represents Pennsylvania’s 16th district and is a member of the House Ways and Means Committee, to discuss the RESA legislation and its implications for Americans should it pass.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/congressman-mike-kelly-the-retirement-enhancement-and-savings-act/.
An art museum – just like a financial advisory practice – is a place where perspective, technique and creativity are respected. And this year, we had many guests on our show that brought new perspectives and creative ideas for growing your business.
To recap our 2018 episodes, Emily and Ben guide us through the three different galleries that each showcase ideas that can help you propel your practice and provide better outcomes to clients in the new year.
A special thank you to all of the guests that joined us on the show this year: Mike Barry, Marc Van Bell, Lorianne Pannozzo, David Corris, Christopher Jenks, Rick Unser, Dr. Amy D'Aprix, Ben Apfel, Eric Roberge, Shannon Lee Simmons, Brenda Campbell, Jim Fisher, Linda Shick, Hyman Darling, J.D. Carlson, Melaina Vinski, Irina Pacheco, Michael Swope, Christopher Kunkle, Erik Rubingh, Daniela Mardarovici, Adam Phillips, Janelle Woodward, Sarano Kelley, Brian Doherty, Colleen Stanley, Peter Stahl, Kevin Bourke, Jon Adams, Susanna Poon and Kathleen Burns Kingsbury. Your insights and knowledge helped financial advisors across North America and beyond have better conversations and provide better outcomes. Thank you.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-better-conversations-collection-a-tour-of-some-of-the-best-ideas-from-2018/.
For some people, talking about money can be a frightening task. But being more open about money with spouses and family members – and financial advisors, too – can lead to better outcomes for all parties.
Kathleen Burns Kingsbury, a wealth psychology expert and author of Breaking Money Silence, joins the podcast to discuss how advisors can dispel some common myths that clients believe about money. Plus, she shares tips on how to open up a dialogue with clients who may be hesitant to talk about their finances.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-delicacy-of-dialogue-helping-clients-talk-openly-about-money/.
Charitable giving is something that touches many of our clients from large to small. For many ultra high net worth clients, philanthropic endeavors have also become a pillar in their wealth management strategy, serving a unique and individualized need.
Susanna Poon, Director of Philanthropy Services at CTC myCFO, a part of BMO Financial Group, joins the podcast to explain how financial advisors can be the bridge between UHNW individuals with excess capital and organizations in need of capital. Assisting with this part of a client’s wealth lifecycle can help build a stronger relationship and better potential outcomes for the client and the charitable impact they would like to make.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/charitable-giving-wealth-management-strategies-for-the-ultra-high-net-worth/.
Janelle Woodward, Head of Fixed Income at BMO Global Asset Management and prior guest on the podcast, joined Ben Jones at IMPACT® 2018 to discuss the current state of fixed income markets and why investors shouldn’t fear a bond bear market.
Hear their full interview, plus live questions from the audience, in this first-of-its-kind episode for the podcast. Topics include the balance between price and income, the role of the Fed, and what to expect for fixed income markets in both the short and the long term.
For full show notes and links mentioned in this episode, visit http://bmogam.com/betterchttps://www.bmogam.com/us-en/advisors/news-and-insights/live-from-impact-2018-a-bond-bear-market-bring-it-on/.
Last month, BMO held its annual Global Investment Forum in London, where a group of investment managers, economists and strategists discussed the key topics that will drive the economy and markets in 2019 and beyond.
Jon Adams makes his third appearance to the podcast to reveal the drivers of the global economy, as uncovered at this year’s Forum. Find out how artificial intelligence, big data and trade will impact the markets, how the rise of intangibles has redefined valuations and the portfolio implications in the year to come.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/more-room-to-run-a-market-outlook-from-the-bmo-global-investment-forum/.
Writing a book on financial topics can establish you and your practice as a thought leader in your field and as an authority within your network or sphere of influence. And if it’s done well, it can act as an engine for new business that pays dividends over a long period of time. Finding the time tends to be the biggest challenge, but can be overcome with the right approach.
Kevin Bourke, author of Make Your Money Last A Lifetime, joins the podcast to discuss the process of writing and publishing his book from start to finish and the impact it’s had on his career and his practice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/modern-marketing-writing-a-book/.
With the cost of health care steadily rising across America, planning for this expense has become a focal point in many financial plans. Investors and their advisors are turning to HSAs, or health savings accounts, and their tax benefits to address the specific cost in retirement.
Peter Stahl, author of Top of the First: The Convergence of Healthcare and Financial Planning, joins the podcast to discuss the use of health savings accounts as a tax-advantaged savings and investment account for healthcare expenses. In addition, he discusses how you, as an advisor, can help put these strategies to work for your clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/health-savings-accounts-a-strategic-retirement-tool/.
Your IQ, your intellect and your hard skills get you in the door with clients and prospects. Keeping in tune with your clients over time is another task in itself, requiring you to leverage your emotional acumen to maintain success.
We’re joined by Colleen Stanley, President of SalesLeadership, Inc. and author of Emotional Intelligence For Sales Success, to discuss how you can bolster your soft skills, build your emotional intelligence and translate it into real results for your practice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/how-a-high-eq-can-lead-to-sales-success/.
Determining a Social Security strategy can be one of the most complicated processes that people across the U.S. face as they reach retirement. Clients will be looking for guidance on when to claim it, and as an advisor, it can be difficult to keep up with all the changes to the system and options available for each client. Where do you start? How do you approach each clients’ situation to determine what’s best for them?
We’re joined by Brian Doherty, President of Filtech and author of Getting Paid to Wait, to discuss the ins and outs of claiming Social Security and the role you can play in the process as a financial advisor – including how you can build client loyalty by proactively discussing it even if you’re not being paid to do so.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/to-claim-or-not-to-claim-the-social-security-question/.
Objection handling is a communication skill that many financial advisors struggle with – whether it’s with recommendations for existing clients or prospective clients dragging their feet. How do you put established habits and status quo bias aside to overcome objections in your practice? Our guest in this episode stresses the importance of emotional intelligence.
Sarano Kelley, author and co-founder of The Kelley Group, joins the podcast to discuss the communication techniques you can use to overcome objections. Plus, Sarano shares his process of asking for referrals, something that often feels a bit uncomfortable to do.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/overcoming-client-objections/.
The credit forum is an annual event held by BMO’s fixed income teams, where credit analysts from around the globe discuss the current environment and prepare for upcoming challenges and opportunities in the fixed income markets.
Janelle Woodward, Daniela Mardarovici and Adam Phillips share their thoughts about the teams recent paper, A bond bear market? Bring it on!We also provide historical context to the fears of a rising rate environment with key talking points for advisors to use with their clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/its-all-about-the-income-insights-from-the-bmo-credit-forum/.
Factor-based investing approaches may have some advantages for advisors, like diversifying client portfolios without adding a lot of costs, providing low correlation, and assisting with risk adjustments. But how should advisors think about factor-based investment approaches, and are they all created equal?
We’re joined by Erik Rubingh, Head of Factor Investments for BMO Global Asset Management, to discuss these approaches and why it is important to be critical of the approach you choose for your clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/defining-outcomes-with-factor-based-investing/.
Many mutual funds provide investors the potential for added return by loaning the underlying stocks, bonds and other securities in the fund. The added revenue from these activities can make a difference in a fund’s return, but the concept of securities lending is often misunderstood. Chris Kunkle, Head of Securities Lending at BMO Global Asset Management, joins the podcast to explain securities lending, how it benefits investors and what advisors should know.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/behind-the-curtain-securities-lending-in-mutual-funds/.
Recently, some investors and advisors have thrown in the towel on active management and are questioning if there is still a place for it in portfolios. According to a recent research paper, high-conviction equity managers may still add value in terms of return potential and risk mitigation.
We’re joined by the authors of the paper, Irina Pacheco, and Michael Swope, to discuss the role that high-conviction strategies can play in a client’s portfolio and the research behind High-conviction strategies: Investing like you mean it.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/escape-the-index-high-conviction-investing/.
Traditional economic theory tells us that humans are generally rational beings and that they make decisions from an optimal perspective. But behavioral economic theory takes into account what we know to be true: that humans are emotional and social beings. What is it, and how does it affect the mindsets of your clients?
We’re joined by Melaina Vinski, a Behavioral Economics Lead for PricewaterhouseCoopers in Canada, to discuss how the concept affects the investment decision-making process and how advisors can use a client’s biases to lead better conversations.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/money-mindset-using-behavioral-economics-to-help-investors-succeed/.
This is the second in a series of episodes where we will take you “in the trenches” with financial professionals that are using different modern media strategies to build their businesses.
J.D. Carlson used to be a professional surfer with no intentions of taking over the family 401(k) business. When his first career came to an end, he changed his tune and ended up falling in love with financial services.
As part of his marketing efforts, he started the Retireholi(k)s YouTube series, where he and his team discuss topics related to 401(k)s in a fun way.
J.D. joins the show to share his experience leveraging video to educate and connect with potential clients while building his firm’s brand. You can watch this full episode on the Retireholi(k)s’ YouTube page.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/modern-marketing-from-pro-surfer-to-401k-youtube-personality/.
This is the third of four episodes where we’ll explore the “money mindset” of some unique groups that advisors serve.
One of the more difficult situations an advisor can face occurs when a client starts showing signs of cognitive decline. How do you tell if your client is no longer able to make good decisions? How do you bring family members into that discussion? And when should you invoke the power of attorney?
We’re joined by two professionals who have worked with clients showing signs of cognitive decline: Linda Shick, Senior Vice President and Portfolio Manager at Angas Shick Private Wealth Counsel, and Hyman Darling, Attorney at Bacon-Wilson PC and President of the National Academy of Elder Law Attorneys. Together, they discuss the keys to managing this complex situation, including the emotional and financial balance between the client, their family and the other professionals that may be involved.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/money-mindset-when-clients-go-through-cognitive-decline/.
Leadership in the workplace used to be largely about people management. In today’s workplace, being an effective leader involves so much more. Where should you be putting your focus so that your employees (and your clients, too) see you as a leader? And what type of benefits could effective leadership have for your practice?
We’re joined by Jim Fisher, professor emeritus at the University of Toronto and author of The Thoughtful Leader, to discuss how you can learn to be a successful leader of your practice, firm or business. We discuss the mechanics that make the best leaders in today’s work environment and share strategies to motivate and inspire you and your team.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/leadership-is-learned-leading-your-practice-to-better-productivity-and-client-engagement/.
As financial professionals, we think about objectively managing finances almost every day. But for many, a lack of financial education makes this a difficult and intimidating task.
In this episode, we discuss ways to improve the financial literacy gap with Brenda Campbell. Brenda is the CEO of SecureFutures, a nonprofit organization that partners with volunteer financial professionals to educate young adult students in the Midwest on personal financial literacy.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/creating-a-lasting-impact-through-financial-education-and-mentorship/.
This is the second of four episodes over the year where we’ll explore the “money mindset” of some unique groups that advisors serve.
When most people think of millennials, they think of digital natives who spend their money on travel and love avocado toast. But there are also a lot of misconceptions about this demographic, including how they view money.
While their financial needs may differ from baby boomers, the premise is the same: How do we make sure you’re financially secure in the long run while still maintaining a lifestyle that makes you happy.
In this episode, we’re joined by two advisors, Eric Roberge of Beyond Your Hammock and Shannon Lee Simmons of New School of Finance, to discuss the ways that they cater to millennials and how you can integrate this group into your client mix.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/money-mindset-advising-millennials/.
Phase two of MiFID, or the Market in Financial Instruments Directive, went into effect in the European Union on January 3, 2018. The regulation aims to provide greater transparency for end clients as well as regulate areas where potential conflicts of interest may occur.
Ben Apfel, Head of Legal at BMO Global Asset Management (EMEA), joins the podcast to discuss the impact that MiFID II has on European financial advisors. We also discuss its ripple effects, both current and future, on the global financial industry, including the impact on North American financial advisors.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/mifid-ii-european-regulations-with-global-implications/.
This is the first of four episodes over the year where we’ll explore the “money mindset” of some unique groups that advisors serve.
In this episode, our discussion focuses on a large and growing demographic: middle-aged people who find themselves “suddenly single” after years, if not decades, of marriage. “Suddenly single” commonly occurs through widowhood or divorce, but no matter the cause, the demographic presents unique challenges and considerations.
We’re joined by returning guest and Life Transition Expert Dr. Amy D’Aprix to help advisors navigate this emotional life event and keep their clients’ financial plans on track.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/money-mindset-suddenly-single/.
This is the first in a series of episodes in 2018 where we will take you “in the trenches” with financial advisors that are using different modern media strategies to build their businesses.
A couple years ago, Rick Unser and his team needed to find a better new business acquisition strategy. After reviewing their current marketing strategy, he aimed to find new, unique ways to develop a long-term exponential growth strategy for his practice.
He settled on podcasting and, after 100 episodes, it has turned into much more than just a growth strategy.
In today’s episode, we take you “in the trenches” with Rick to talk about his experiences on the podcast, titled 401(k) Fridays, along with details on how other financial advisors can identify a unique marketing strategy for their business.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/modern-marketing-how-one-financial-advisors-podcast-created-surprising-results/.
Over the past couple of years, quantitative investing has made a resurgence, though for many advisors, there are still more questions than answers. How do I evaluate a quantitative manager? Is more data better? How can I be sure a particular approach will benefit my clients?
To answer these questions and more, we’re joined by David Corris and Chris Jenks. We’ll discuss some of the differences in today’s quant landscape, some of the major advantages of a model-based approach, and why transparency is important to any quantitative portfolio.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/rise-of-the-quants/.
The average household is managing nine accounts as they head towards retirement. Many participants are busy dealing with life’s complexities; they don’t have the will, skill or time to manage their retirement accounts, yet they want to know that they can reach their goals based on their specific circumstances.
This is where plan sponsors and their advisors can offer managed accounts as a menu option for employees looking for a “do-it-with-me” solution.
We’re joined in this episode by Lorianne Pannozzo, Senior Vice President at Fidelity Workplace Solutions, to discuss the evolution of digital advice in corporate sponsored retirement plans.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/complex-situations-personalized-approaches-managed-accounts/.
On December 22, 2017, President Trump signed the much debated tax reform bill into law. Its impact will undoubtedly reach all corners of the wealth management industry – for individuals and corporations alike – but how are advisors and clients preparing for the changes?
In this episode, we break down the new tax code from multiple angles with Mike Barry, President of Plan Advisory Services, and Marc Van Bell, Product Specialist, Municipal Fixed Income at BMO Global Asset Management. Mike joins the podcast to discuss tax reform’s effect on retirement plans, while Marc discusses the impact on municipal fixed income markets.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/deciphering-tax-reform-takeaways-for-advisors/.
Throughout 2017, our guests on the Better conversations. Better outcomes. podcast brought many new ideas for financial advisors to leverage in their practice. Before 2018 kicks off, Ben and Emily take a look back at the best lessons we learned this year to set up your better conversations in 2018 and beyond.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/longer-lasting-than-your-gym-resolution-enduring-ideas-for-the-new-year/.
After numerous highly publicized data breaches and hacks this year, the subject of cybersecurity has been top-of-mind in all industries. We met up with four cybersecurity experts at IMPACT® 2017 for a roundtable discussion on all things cyber as it relates to advisors, their firms and their clients. While there’s not a one-size-fits-all program that can solve all your cybersecurity worries, there are things you must know and steps you can take to protect your practice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/protecting-your-practice-a-cybersecurity-roundtable/.
On November 21, 2017, BMO Global Asset Management released the 2018 Global Investment Forum: Five-Year Outlook, the final product of a two day forum held with a group of BMO’s international investment leaders and strategists and additional external speakers.
Jon Adams, CFA®, Senior Investment Strategist & Portfolio Manager at BMO Global Asset Management, attended and contributed to this year’s forum and outlook, held in Toronto. Jon joins the Better conversations. Better outcomes. podcast to discuss the importance of the forum, the three scenarios that could drive markets in the next five years and what each could mean for investors and portfolio positioning.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/looking-ahead-2018-five-year-outlook/.
Be honest. When you look back at your workday, or your workweek, did you achieve everything you wanted to? Did the important things get done? Were there things you allowed to distract your attention away from your highest priorities?
In this episode, we’re joined by Mike Schmitz, host of the Productivity Show podcast and author of Thou Shalt Hustle: Pushing Past Average. Mike helps advisors define what being “productive” means to them, both in business and in life. Plus, he discusses how technology can be a productivity killer and the tips he’s received to achieve more with less.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/purpose-led-productivity-achieving-more-with-less/.
You’ve built a successful practice. But times have changed, and your practice likely needs to adjust in order to continue growing. The key? Let go and be willing to evolve in order to thrive.
We’re joined by Matt Ackermann, Director of Multimedia at Investment News, to discuss change. Not the type that piles up under your couch cushions, or in your car, but the type of change that evolves a practice, grows the business and makes existing customers happier. Matt also talk about his key learnings from producing and hosting a series called Practice Makeover, where advisors from around the country work with coaches and marketing professionals to evolve and overcome business obstacles.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/evolving-your-practice-lessons-learned-from-behind-the-camera-lens/.
Change is on the horizon when it comes to fee structures, and this has many advisors and advisory firms at a crossroads. Today’s episode is all about how advisors should think about the topics of charging fees to clients – commissions, retainers, and all other sorts of models.
John Anderson, the head of Practice Management Solutions for SEI Advisor Network, is our expert guest on this episode. John co-authored a white paper in 2016 called “Fees at a Crossroads” that addresses the evolution of fee-based advice, new models for feeing clients and more. Listen in as we explore these topics and tackle the difficult conversations around the price for advice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/what-am-i-paying-you-for-the-evolving-pricing-models-of-advice/.
For many, emerging and frontier markets are nothing more than a misunderstood high risk, high reward slice of a well-diversified portfolio. Our guest in this episode helps explain that the opportunity in these markets ultimately reflects the basics of investing: buy part of a company that you think will grow in the long term (long term meaning 5 to 10 years, not just 1 or 2).
Thomas Vester and the team at LGM Investments have made it their lives’ work to find investable companies in emerging and frontier markets, many of which are providing basic staples – like milk and beer – to a low-middle income consumer base. They invest not for the potential to own large global conglomerates, but instead for the potential for steady growth in their own country or region. This episode will provide an overview of the opportunities in this asset class, why investors may be looking to these markets for growth, and how to navigate the risks and there are several.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/bric-mortar-building-long-term-outcomes-with-emerging-markets/.
Going through a divorce is a stressful and emotional endeavor. For many, it’s also the single largest financial event they will experience in their life. Yet, many people don’t receive the proper guidance when it comes to separating assets. This presents a great opportunity for advisors to demonstrate their value.
In this episode, we're joined by Carol Lee Roberts, General Manager for the Institute for Divorce Financial Analysts. We discuss the need for evaluating capital appreciation and depreciation when dividing up assets, why you shouldn't skip the agreement details to complete the divorce faster and the importance of neutrality within the divorce process.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/happily-never-after-advising-clients-through-a-divorce/.
The tax-exempt retirement plan market is large and widely underserved. In the U.S., there are tens of thousands of health care and social services organizations, governments, churches, and private education institutions that need access to good advice when it comes to retirement plans. For advisors who already have the knowledge and skills of working with other types of retirement plans, getting started is easy.
In this episode, we’re celebrating National 401(k) Day with Kevin Kidwell of OneAmerica. We’ll discuss what it’s like to transform nonprofit retirement strategies, how to get started in the area and, most importantly, how to ensure that a partnership with you will allow your non-profit clients to focus on the work that matters.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/finding-opportunities-in-403b-and-other-tax-exempt-plans/.
Industries around the world have noticed a shift in power from companies to consumers, and the financial industry is no different. Consumers – your clients – are in the driver’s seat of industry change, and if you aren’t meeting their expectations, they will seek other options. This is where goals-based advice can set you apart and deliver value across your client relationships.
In this episode, we are joined by Rebecca Jacques, General Manager for the Association of Goals Based Advice in Sydney, Australia, who regularly talks with both advisors and clients to gauge the success of goals based practices. One resounding theme you’ll hear: clients enjoy the feeling of being listened to, and advisors who listen tend to improve outcomes for the entire adviser-client relationship. Listen in as we explore the steps you can take to provide goals-based advice.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/goals-based-advice-for-client-based-outcomes/.
There are many reasons that advisors might think about selling their practice, and just as many reasons that others might be interested in buying it. In this episode, we’re talking to David Grau Sr., the President and Founder of FP Transitions, about how to buy or sell a practice. Listen as we discuss the acquisition marketplace, how to prepare to buy or sell, who you might want to sell to, and what success looks like from a buyer and a seller’s perspective.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-advisors-guide-to-buying-or-selling-a-practice/.
In this episode, we look at the unique financial challenges facing same-sex couples and how as an advisor, you can be better prepared to serve a non-traditional set of life circumstances. Of course, working with same-sex clients is largely no different than working with any other group of clients, but in order to properly serve this community, advisors should understand the mindset, key issues, and changing laws and policies that directly impact their money and wealth. In this episode, you’ll take away some great action ideas no matter what type of clients you serve. Our expert guest is Julia Peloso-Barnes, a Wealth Advisor with Morgan Stanley Wealth Management and an Accredited Domestic Partner Advisor. She specializes in working with same-sex couples.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/managing-wealth-for-same-sex-couples/.
In this episode, we dive into an initiative that has shaken up the investment advisory industry in Canada – CRM2. This topic is especially helpful for our listeners who do business north of the border, but the overarching theme of the episode, which is applicable to advisors everywhere, centers on how to frame your practice based on goal setting with your clients, rather than simply chasing the best returns.
CRM2 is all about fee transparency and, while it is a significant change, could prove to be a great opportunity for advisors who provide more than just investment advice. Our guest is Jordan Lee, Regional Sales Manager for BMO Global Asset Management. Jordan will walk us through what has changed and how advisors are adapting.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/crm2-and-the-rise-of-fee-based-advising-in-canada/.
Public relations in today’s media landscape takes on a number of forms, and advisors that know how to leverage these channels are solidifying their reputation within their markets. From traditional relationships with newspaper and TV journalists, to blogs, social media, and your own web content, you don’t need to be a polished spokesperson to be effective. In this episode, we’ll get you started with actionable strategies that you can leverage to start PR for your own practice. We’ll also discuss how PR fits into an overall marketing strategy, when to hire a PR firm, and more.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/pr-to-power-your-practice/.
Tim Reid is our guest on this episode, he’s the host of Australia’s most popular business podcast, called The Small Business Big Marketing Show. Today, he’s going to show us how financial advisors can leverage modern marketing channels and become thought leaders by creating content in various forms. In the episode, you’ll find inspiration for starting that blog or podcast and exercises you can do to get started with what he calls “helpful” marketing.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/boomerang-marketing-with-tim-reid/.
How will proposed US tax and spending policies impact tax free investors this year or in the future? On today’s show, we take a look at the municipal bond market in the US and three major areas that might change the landscape of tax free investing:
- The repeal and replace of the Affordable Care Act (known as Obamacare)
- An infrastructure spending bill at the federal level
- A proposed overhaul of the federal tax code
Our guest is Rob Wimmel, head of Municipal Fixed Income for BMO Global Asset Management. Join us as we discuss the future of municipal’s tax-exempt status and how to talk to your clients about this current issue.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/tax-and-policy-implications-for-tax-free-fixed-income/.
It’s one of the key milestones in life, and a time of happiness tinged with sadness – when a child leaves home and launches into adulthood. Unfortunately, this life changing event is occurring later and later in life, as an increasing number of young adults fail to leave the nest. The issue is often financial in nature, and the lack of economic independence could lead to serious consequences down the road.
In this episode, we discuss launch planning and helping your clients prepare their children for a financially-independent future. We cover how to talk to your clients – or even your own children – about this topic and how these conversations can do wonders for your clients and your business. Our expert guest is Dina Renee Weiss, the Chief Investment Officer of Lighthouse Financial Group, where she specializes in talking to families about launch planning. Dina is the co-author of the book Ready to Launch, and has built her practice with launch planning and financial literacy for children as its core part.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/launch-planning-navigating-the-financial-needs-of-children/.
Human beings are bad at planning for the end; the end of a career, the end of a business, the end of a life and financial advisors are no different. Advisors are experts at helping their clients through life transitions and into retirement, but many advisors may have neglected to create the same plan for themselves. We aim to help fix that with this episode. Succession planning can mean many different things, but no matter how you do it, the topic of succession planning is more than divesting or acquisition. It’s success or failure largely depends upon the human elements, including open communication with clients, successors, staff and other stakeholders.
Our guest is an expert in the topic of succession planning. Rob Goff is a VP of Succession Planning and Acquisitions at Raymond James Financial.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/succession-planning-exit-strategies-for-a-smooth-client-experience/.
On today’s episode, we’ll explore why ESG investing is an emerging topic, what role it plays in a portfolio, and what actions advisors can take to implement ESG with their clients. Our guest is Ali Caffery, a Portfolio Manager at Envestnet. Envestnet is a web-based platform for financial advisors that assists them with the wealth management process, including performance reporting, portfolio solutions, and research tools.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/esg-doing-well-and-doing-good-with-your-portfolio/.
Janelle Woodward, President and Senior Portfolio Manager at TCH, joins the podcast to discuss passive fixed income investing implications. Janelle recently co-authored an article titled “Alexa, invest in fixed income”, which looks at the technology and automation filtering into our lives and how parallels can be drawn to today’s fixed income landscape. She explains how equity and bond indices differ and why it is important for an advisor to understand these differences when allocating a client’s portfolio, as the make-up of an aggregate fixed income index could mislead investors, exposing them to market risks in the future that may be different than when they made the decision.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/alexa-invest-in-fixed-income-podcast/.
Today we’re exploring the Fiduciary Duty Rule, also known as the Conflict of Interest rule, put forth by the Department of Labor under the Obama Administration last year. We’re also discussing the February 3rd, 2017 Presidential Memorandum that directed the Depart of Labor to reexamine the fiduciary duty rule. This brought uncertainty to the rule, and left many advisors waiting to see what would happen.
Our guest is Fred Reish, partner in the law firm of Drinker Biddle & Reath. Ben Jones spoke with Fred over the phone about the history of this rule, the intentions behind it, and the implications for the future.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/now-what-fred-reish-on-the-future-of-dols-fiduciary-rule/.
Our guest in this episode is Steve Sanduski – founder of Belay Advisor, a financial advisor coaching and consulting company. Steve has distilled his knowledge from interviewing and working with thousands of leading advisors into 4 actionable strategies. We’ll talk about people, clarity, systems, and generating business, as well as obstacles that keep firms from reaching their full potential.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/inside-look-at-the-strategies-of-the-most-successful-advisors/.
Our guest today is Tony Cousins, the Chief Executive and Chief Investment Officer of Pyrford International. Tony authored a paper concerning International investment themes in 2017 and beyond, and we’re going to discuss this paper today to uncover what is behind these themes and what you should be looking at when thinking about investing in international markets this year. We’ll talk about the case for equities, the case for value, and the opportunities in Asian countries. We’ll also discuss international events such as Brexit and European populism movements that will shape 2017.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/international-investing-themes-for-2017-and-beyond/.
Today we explore caregiving from the perspective of those that receive the care, those that become caregivers, and advisors who help their clients navigate this path. We welcome back two expert authors who have been on our podcast in previous episodes. Dr. Amy D’prix is the author of From Surviving to Thriving, and Dr. Alexis Abramson is the author of The Ultimate Caregiver. They discuss the trends of those receiving care, how to plan for caregiving, and why advisors are uniquely positioned to have these conversations with their clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/helping-clients-determine-who-will-be-their-caregiver/.
Our topic today is around the connection between health and wealth for retirement plan participants. In this episode, we’ll provide a different perspective on health in retirement, helping advisors align the interests of plan participants with the interests of the employer to create win-win situations. Our guest is Hugh O’Toole, Senior Vice President at MassMutual, and an expert in the field of benefits packages, workplace distribution, and the connection between health, wealth, retirement, employers and employees.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/health-wealth-connection-making-the-connection-tangible/.
As we enter the new year, we look back on the key learnings from our inaugural year of the Better conversations podcast. In this episode, hosts Ben D. Jones and Matt Smith reflect on their top 10 learnings from 2016 and what to expect in the episodes to come.
While 2017 will have its share of uncertainty in the financial markets and political landscape, we’re here to help you with the things you can control – having better conversations with your clients. We hope the Ideas we provide for your portfolios and your practice by giving you access to industry experts and your peers will help you achieve better outcomes.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-best-learnings-of-2016/.
In this episode, Matt Smith talks with Michael Guillamette, Professor of Personal Financial Planning at the University of Missouri. The topic is risk tolerance. They discuss the details of conducting a risk assessment, the role age plays in risk tolerance, and advice for helping your clients stay in their portfolios and get the most out of their investments.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-risky-business-of-risk-assessment/.
BMO Global Asset Management hosts an Annual Global Investment forum that brings together BMO’s international investment leaders and strategists, as well as select outside experts, to discuss and debate our 5 year outlook for global economies and capital markets. At the end of each forum, we publish our 5 year outlook perspective as a document that highlights the possible scenarios we see happening in global trends, as well as themes we see for economic and political environments for the years ahead.
Jon Adams, a Senior Investment Strategist on BMO’s Multi Asset Solutions team, is our expert guest for this episode. He participated in this year’s forum, and he’ll help us break down the 5 year outlook and understand the themes and trends shaping our future.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/five-year-outlook-slow-and-steady-wins-the-race/.
Over the last 3 years, mutual fund fees have become one of those hot button issues that drive a lot of conversations in the US financial industry. Given the complex nature of prospectuses and the sheer amount of different fees a single mutual fund can have, the fees are often misunderstood. Our guest Casey Hatch is here to help us demystify the world of fund fees, and help advisors provide better outcomes for their clients. Casey is the Head of Product Management for BMO Global Asset Management.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/peeling-back-the-onion-fund-fees/.
Schwab IMPACT, an annual conference put on by Charles Schwab, brings together some of the brightest and most successful independent wealth advisors in the industry. At this year's conference, Ben D. Jones sat down with a handful of advisors to find out what inspired them to get into the field of wealth advising, what they learned during the conference, and if they have any advice for new advisors entering the industry. This episode gives advisors a familiar perspective on the wealth advising field, as we discuss their unique experiences and successes. Our guests are:
Bill Harris of WH Cornerstone
Chad Tischer of Dimeo Schneider
Damon White of Evermay
Scott Doucette of Proctor Financial Group
Will Kim of Wespac
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/live-at-the-schwab-impact-conference/.
Our topic today is social media – how to use it effectively as a financial advisor, why employing social media strategy is important, and some mistakes to avoid before you send out that first tweet. We start with the concepts of social media and how to set goals for your strategy, and then dive into details with tools, tips, and techniques that you can use today to make a greater impact on social networks. Our expert guest is Sheri Fitts, founder and CEO of ShoeFitts Marketing. Sheri is a widely recognized speaker and influencer in the financial industry, as well as the author of Deconstructing Digital: Simple Ways To Connect With Your Next-Generation Financial Clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/create-curate-and-connect-social-media-for-advisors/.
Today, we’re talking to Kathy Howe-Hrach, a Financial Planner with BMO, about tax loss harvesting. What is tax loss harvesting? How can investors and advisors use this technique to harvest losses and gains in a way that can enhance outcomes for their clients? Listen in as host Ben Jones talks to Kathy about how tax loss harvesting works, the risks and rewards, and what rules you need to follow.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/tax-loss-harvesting/.
Today, we discuss the topic of re-enrollment for corporate retirement plans. Our guest is Jeff Gratton of SageView Advisory Group, a certified 401(k) professional and one of the most influential retirement plan advisors in the country. There has been a significant body of research over the last decade about the benefits of re-enrollment for plan sponsors and their participants, yet many sponsors remain hesitant to implement automatic re-enrollment. In this episode, we address some of the hesitations that sponsors have towards this feature and identify some successful ways advisors can help committees work through their decision.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/re-enrollment-framing-the-discussion-for-success/.
On today’s episode, we talk with author, artist, columnist, and certified financial planner Carl Richards. His New York Times column Sketch Guy has become famous in the financial advising community, as his sketches have the unique ability to distill complex concepts into simple diagrams clients can understand. We discuss the advantages that human advisors have over automated investment services, why simplicity can be powerful, and tips for communicating financial concepts to your clients.
“I would not give a fig for the simplicity this side of complexity, but I would give my life for the simplicity on the other side of complexity.” - Oliver Wendell Holmes Jr.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/the-art-of-communication/.
In the eighth and final part of our “Building an effective practice” miniseries with Steve Moore, we’re talking about marketing. How do you successfully market your services? According to Steve, you don’t. Instead, he suggests focusing on creating and offering such stellar services that your clients do the marketing for you. Listen in as Matt talks to Steve about what an engaged client looks like, viral marketing, and using centers of influence.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/start-selling-through-clients/.
In part 7 of our “Building an effective practice” miniseries with Steve Moore, we’re talking about the team approach versus the rainmaker approach. What is the rainmaker approach and why is it outdated? How do you build a successful team? Our host Matt Smith talks to Steve Moore about growing your business with a team approach and making sure the team that you build is effective.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/team-approach-vs-rainmaker-approach/.
In part 6 of our “Building an effective practice” miniseries with Steve Moore, we discuss WOW client reviews. What is a WOW client review? Which of your clients should you offer this kind of service to? Matt and Steve discuss the details of what a WOW client review looks like, the word-of-mouth marketing power of it, and what it takes to create it. Listen in to this miniseries as Matt Smith interviews Steve Moore on each habit in his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/deliver-wow-client-reviews/.
Today we discuss women and wealth with Kristin Gibson, a Managing Director at Charles Schwab Investment Management and an expert in the field of women investors. We discuss how financial advisors can have more informed conversations with their female clients and how developing a communication and marketing strategy for women can be beneficial. Kristin talks about research that has been conducted on how women investors behave, how their financial goals differ from men’s, and how advisors can effectively communicate with them.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/women-and-wealth/.
In part 5 of our “Building an effective practice” miniseries with Steve Moore, we discuss how to go from giving only investment advice to providing wealth management advice. Matt and Steve discuss how to conduct a deep fact-finding meeting, different kinds of facts, and how to create a financial vision. Listen in as Matt Smith interviews Steve Moore on each habit in his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/stop-providing-only-investment-advice/.
Socially Responsible Investing (SRI) is gaining traction in the United States and around the world, as more investors seek to align their personal beliefs regarding environmental, social and moral issues with their investment preferences. New research and data on SRI has shown that it can make long-term financial and economic sense rather than just moral sense or social impact. Our guest for this episode is Dawn Wolfe, Director of Responsible Investing at BMO Global Asset Management. She discusses what socially responsible investing means, the different facets of SRI and considerations for advisors with social and environmentally conscious clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/guiding-the-social-and-environmentally-conscious-investor/.
In part 4 of our “Building an effective practice” miniseries with Steve Moore, we discuss the often uncomfortable topic of how to disengage with unprofitable clients, the value of referrals, and dealing with emotional attachment to clients. Listen in as Matt Smith interviews practice management expert Steve Moore on topics from his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/stop-hoarding-unprofitable-clients/.
In this episode, Ben Jones sits down with Phillip Chao of Chao & Company in Washington DC. Philip delves more into the concept of using Custom QDIA or Qualified Default Investment Alternative in retirement plans. This has been a hot topic for fund managers, advisors, consultants, and plan sponsors in the US. Topics covered include the reasons to explore a custom QDIA, the challenges, and other considerations to help you have better conversations with your clients about this important investment option.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/custom-target-date-funds/.
In part 3 of our miniseries on building an effective practice, Steve Moore covers the second chapter of his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them, in which advisors must balance quality vs. quantity of clients. Matt Smith hosts a discussion on how to focus your work on quality clients, allowing you to become an expert in a concentrated demographic and to become an expert in serving those clients.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/focus-on-quality-clients/.
In this episode, we’re exploring fixed income and the current landscape of bonds and other fixed income instruments. We’ll discuss the challenges that this sector has faced in recent years and ideas about different approaches to satisfying a portfolio’s need for yield. Also, given our historically low interest rate environment, we discuss what fixed income could look like in the future and where investors go from here. Our guest is Scott Kimball, Senior Portfolio Manager at TCH, a subsidiary of BMO Asset Management Corp.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/fixed-income-the-way-forward/.
This episode centers around family conversations that should happen when investors are planning for their estates and legacy. In this episode, our guest is Dr. Amy D’Aprix , BMO Financial Group’s Life Transition Expert. She discusses properly approaching challenging conversations, enhanced estate planning, planning beyond the will, and the unique position of the financial advisor.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/family-conversations-that-should-not-be-avoided/.
In part 2 of our miniseries on building an effective practice, Steve Moore discusses the first habit in his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them. Matt Smith guides a discussion on the first habit, which is all about starting to live your dream, and creating win-win results that benefit clients and advising businesses alike.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/start-living-your-dream/.
A large part of what we do as financial advisors is helping people plan ahead so that they can be financially stable and successful for the rest of their lives. For many of our clients, retirement will be a big span of their future. In this episode we’re talking to Steve Williams, the Head of Financial Planning in the U.S. at BMO Private Bank, about how to help your clients create a game plan for their retirement. Listen in to learn how to approach the aspect of retirement from every angle, not just financially.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/creating-a-clients-retirement-game-plan/.
Telling your story and creating your message; these are important “big picture” parts of any advising business. But have you spent time intentionally crafting your story? Having a message that connects with people, that helps them understand what you do, why you do it, and why you’re good at it is crucial to building your business. Today on the show we’re talking to Jack Cramer, a consultant and founder of Cramer and Associates. Jack works with banks, broker-dealers, insurance companies and mutual fund companies to develop training to maximize efforts of advisors, brokers, sales managers, and more.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/telling-your-story-components-to-creating-a-compelling-message/.
In part 1 of our miniseries on building an effective practice, Steve Moore discusses the seven habits in his book, Ineffective Habits of Financial Advisors and the Disciplines to Break Them. Matt Smith guides an overview of these seven habits with Steve, while in subsequent episodes of the miniseries they’ll go into detail on each of the seven habits. They also discuss Steve’s career as an internationally recognized consultant to financial advisors, and the unique path he has taken to get there.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/building-an-effective-practice/.
The category of alternative investments includes a wide-variety of investments that typically don’t fit into the traditional asset classes of stock, bonds and cash. It can be a very important part of any advisor’s client’s portfolio, but it can be difficult to understand and communicate to clients. In this episode we talk about the value of adding alternatives to your clients’ portfolios, what to consider when adding them, and how to understand the wide range of characteristics and types of risk that this type of investment can have. Our guest is Lowell Yura, head of Multi-Asset Solutions at BMO Global Asset Management. Matt Smith sat down with Lowell in Chicago to discuss the alternative investment space.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/alternative-investments-exploring-the-opportunities/.
Financial advisors spend most of their time helping their clients plan financially for retirement, but what are the other areas they can be helping their clients consider to improve their quality of life in retirement?
This episode will dive into areas where advisors can help their clients make their “golden years” truly golden. Ben Jones sat down with Dr. Alexis Abramson, an expert in the field of gerontology.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/living-to-100/.
Every investor has a unique perspective on the world, unique reasons for investing, and unique goals for their investment portfolios. In Episode 1, we explore how financial advisors can use personality archetypes to create better connections with their clients. How can you better communicate with investors who might feel that their advisor should have foreseen change in the markets?
Our guest (and cohost) is Matt Smith, the coauthor of Someday Rich: Planning for Sustainable Tomorrows Today. In order to distill the complex psychological attributes of different people into information that investment advisors could easily utilize in their everyday lives, Matt and his coauthor describe four investor archetypes, each with their own set of personality attributes: Guardians, Artisans, Idealists and Rationals. This episode details each of the archetypes and how you as a financial advisor can best cater to your clients’ personalities.
For full show notes and links mentioned in this episode, visit https://www.bmogam.com/us-en/advisors/news-and-insights/investor-archetypes/.