The nature of financial advice has changed. Today’s advisor is not just an asset allocator or a savings scorekeeper. She is holistic, helping clients navigate an increasingly complex financial journey and leveraging media to help them learn and understand.
In “The Essential Advisor”, authors Jay Hummel and Bill Crager talk about how important it is for advisors to “… change the way they communicate and build their ‘value proposition’ — that is, the value of their services to clients.” The advent of the robo-advisor, the commoditization of basic financial advice, and the looming wealth transfer are helping to compel this change, but the complexity of our financial lives requires it.
The better an advisor is at communicating organically with her clients, the better her practice will be. Investopedia’s list of the 100 Most Influential Advisors of 2018 celebrates those advisors who do it best. Ron Carson was named #4.