Tag Archives: Financial Advisor

Long-Term Careless

Cost, insurability and policy features often come up during a discussion, but there are other factors worth talking about. (Illustration: Ikon Images/Corbis)An article from ThinkAdvisor

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“According to a recent study conducted by Genworth in collaboration with J&K Solutions, only 11% of adults say they’ve bought LTCI.”

“Advisors should keep those statistics in mind when they consider the long-term stability of client assets. They should also consider these from the first study: 45% of respondents have no plans to buy LTCI; 32% say it’s too expensive and 30% have never thought about it or don’t want to think about it.”

“The study found care recipients being cared for by family members were often under more stress than their caregivers. Nelson said, “They felt bad about being a burden to their loved ones.”

How Behavioral Biases Affect Social Security Claiming Strategies

benefitsbuttonAn article from ThinkAdvisor

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“In its simplest form, the theory, first developed by Amos Tversky and Daniel Kahneman (for which the latter won a Nobel Prize), states that contrary to traditional economic theory, investors and markets are not fully rational. Translation—we’re very adept at screwing ourselves.”

“Where are we going with this? Simple—the decision about when and how to claim Social Security is no different. The strategy that’s ultimately chosen is too often influenced by external (and incorrect) stimuli rather than sound analysis and ends up hurting recipients in the long run. Take the following refrains we continually hear:”

1). “I want the money now before Social Security goes broke.”

2). “I don’t want to spend my financial portfolio until I have to.” 

3). “I’ve planned and saved with age 62 in mind, and now I’m ready to begin receiving benefits.”


Effective July 1, 2015 the April 2015 version of the New Account Form will be the only version of the New Account Form [NAF] that will be acceptable for new brokerage business, direct business and account updates.

Pershing has updated the NAF to comply with recent Internal Revenue Service mandates. In order for TFS to comply with these IRS mandates we must only accept the 4/15 version of the NAF.

All other versions of the New Account Form received after 7/1/15 will be returned to the representative with the accompanying paperwork and/or checks unprocessed. This is not something TFS desires; however, this new IRS mandate is something we all must comply with.

You can view the updated New Account Form on our website at www.tfsweb.com and the form will be available on LaserApp later this week.

Communicating So Clients Really Listen

An article from ThinkAdvisor

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“According to the British bank Lloyds, the average person’s attention span these days is down to five minutes. So if you have a 20-minute presentation to make, there’s a good chance your clients will miss 75% of it unless you communicate in a way that keeps them listening.”

“A key part of engaging listeners is making your ideas easy to understand”

“Like many experts, financial advisors often suffer from the “curse of knowledge.” When you are so close to the subject matter, you have a very hard time being empathetic with people who don’t have your level of expertise. That’s problem No. 1.”

“There’s a real art and a science to get someone from no understanding to understanding. So what you see is people giving PowerPoint presentations riddled with bullets. We like to say that “bullets kill.”

Harness Emotions to Minimize Investing Mistakes

An article from ThinkAdvisorRemember, glee is an emotion, too.

Read some highlights below or click here for the full article

“Part of the equation shows that people simply are not wired to follow Warren Buffett’s advice to “be greedy when others are fearful,” or as Baron Rothschild said, “buy when there is blood in the streets.

“A prominent indexer once alluded to the intraday tradability of an ETF as like putting a loaded weapon in the hands of investors.”

“Astute investors realize that they can remain prone to emotional responses, as they are often difficult to overcome…This represents an area where the value of a financial advisor can really shine.”