Are You a Professional Advisor or Just an Amateur?

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When Fees Make More Sense Than Commissions

Too frequently, the shift to fees is based on specious claims of "moral superiority." But there is nothing morally superior about a disservice to your clients. A good time to move to fees is when a change in investment strategy warrants a different compensation system. Here's why one commission-oriented top producer made the switch.

Tradeoffs: Today's Needs or Tomorrow's Success?

When you're in survival mode—as a rookie or an experienced advisor—don't confine your efforts to meeting just today's goals. Keep thinking about long-term opportunities. This veteran advisor's three-legged-stool approach will help you overcome setbacks on your way to superstardom.

Rookie Advice: Push Through the Pressures

This advisor of 40 years encourages rookies to pursue a mix of prospecting initiatives when starting out. Initially some of them may not produce ideal clients, but they will help put assets on the table. Over time you'll come to know and enjoy the programs that work best for you and offer the greatest potential.