Nerd’s Eye View

#FASuccess Ep 064: Scaling Up To $1.4M Of Revenue With (Only) Hourly Financial Planning Fees with Mark Berg

Welcome, everyone! Welcome to the 64th episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Mark Berg. Mark is the founder of Timothy Financial Counsel, an advisory firm that does purely hourly financial planning for hundreds of clients in the Chicago area. What’s unique about Mark’s practice, though, is that whileRead More…
Author: Michael Kitces
Posted: March 20, 2018, 11:01 am

How The Product Distribution Industry Beat DoL Fiduciary By Proving Their “Advisors” Aren’t Real Advisors

Notwithstanding its recent regulatory focus in financial services, the concept of being a “fiduciary” long predates the Department of Labor’s proposed fiduciary rule. Not only because a fiduciary duty has applied to Registered Investment Advisers (RIAs) since/under the Investment Advisers Act of 1940, but also because the obligations of a fiduciary duty have existed underRead More…
Author: Michael Kitces
Posted: March 19, 2018, 11:01 am

Weekend Reading for Financial Planners (March 17-18)

Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the big news that the 5th Circuit Court of Appeals has ruled against the Department of Labor and its fiduciary rule, and moved to vacate the DoL fiduciary rule entirely… with the caveat that a separate decision from theRead More…
Author: Michael Kitces
Posted: March 16, 2018, 6:34 pm

Handling The Up-And-Down Stress Of Being A Financial Advisor

Being a financial advisor is a high-stakes stressful job. Not only can it be emotionally exhausting to be the supporting pillar for our clients during their times of emotional stress, but for most of us, it’s also our livelihood, and our family’s livelihood, and our employees’ livelihood when they rely on the business for their jobs… and ofRead More…
Author: Michael Kitces
Posted: March 15, 2018, 6:05 pm

Financial Planning Research Highlights From The 2018 CFP Board Academic Research Colloquium

From February 20th through February 22nd, the CFP Board’s Center for Financial Planning hosted their second annual Academic Research Colloquium (ARC) for Financial Planning and Related Disciplines in Washington D.C. The event brought together 225 attendees, of which close to 200 were researchers and academic faculty, to share and discuss research relevant to the financialRead More…
Author: Michael Kitces
Posted: March 14, 2018, 11:01 am