Longevity and Continuity Planning Isn’t Just for Your Clients

It was a crisp, clear day in Sedona, Arizona. As an advisor, I was attending my broker-dealer’s 2007 educational conference and had just finished up a session. I was catching up with my business partner in the foyer when the call came in. A long-time friend and colleague of my partner’s had passed away — a financial advisor for over 45 years.
 
He was a model of perfect health. He completed over 80 marathons and was an accomplished triathlete. But even someone in such great shape wasn’t immune from life’s inevitability. He lived a rich and fulfilling 75 years, but now had passed without fully implementing a continuity plan. Continue reading

Wisdom from a Golden and Silver Anniversary

Alex Potts, Loring Ward CEO, and Jeff Berg getting ready to light the torch at the Olympic Training Center in Colorado Springs in October 2015.

Alex Potts, Loring Ward CEO, and Jeff Berg getting ready to light the torch at the Olympic Training Center in Colorado Springs in October 2015.

I am thrilled to share some insights from the amazing father/son advisory practice from Minneapolis, MN: Jeff and Tom Berg.
 
2015 was a special year for the 70-year-old Jeff Berg because he celebrated his 50th year in this business. For many of Loring Ward’s 25 years, we’ve been privileged to work with Jeff, one of the original advisors to partner with us.
 
In talking with Jeff about what he’s learned over the course of the past 50 years, I was not surprised to learn that his core values are similar to those at Loring Ward. I’m sure these values are also shared by many of the great advisors out there. Continue reading

Do You Know What Motivates Your Employees?

TeamAre you one of the third of financial advisors who plans to retire in the next 10 years?1 Over $2.3 trillion in assets will need to be managed by the next generation of advisors2. Yet many succession plans fail and staff turnover is a critical issue for many of you according to Loring Ward’s 2013 Benchmarking Study. What can you do to address this? Focus on motivating and retaining your team. Continue reading