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Would you ever consider volunteering to be a crash test dummy? Of course not, but the DOL is proposing many people do that with their retirement plans.  Brace for impact if this rule goes through, it could cause a lot of damage that is unforeseen and short sighted.

"We have a responsibility as a society to focus our investments on the future." 

- Mark Zuckerberg, December 1, 2015

By this point you’ve probably heard about the December 1^st announcement made by Facebook CEO, Mark Zuckerberg and his wife Dr. Priscilla Chan, that they will be donating 99% of their wealth – Facebook shares currently valued at $45 billion – to the Chan Zuckerberg Initiative. Interestingly, the initiative is set up as a “philanthropy” not a “charity”. The decision to create a limited-liability company rather than a foundation will allow for compounding profitable growth that can sustain opportunities to fund projects that align with their mission. 

LinkedIn can be a great resource for finding prospective clients and expanding you professional network. While it is simple to set up an account, you may be missing some key elements that can make sure your profile does not get lost in the crowd.  

You created a LinkedIn profile in hopes to expand your professional network and grow your business. Just setting up a LinkedIn account is not enough, with over 400 million professionals on LinkedIn and 122 million in the US alone, you will need to know some tips and tricks to make your profile stand out.  

Implementing a paperless initiative in your practice can increase efficiency in a big way. Utilizing a straight through processing system with electronic documents and signatures will decrease time, human error, storage, and (undoubtedtly) headaches.  

Many businesses hesitate to invest time, effort and money in modern technology that would improve the overall work flow in operations. In the broker dealer world, constant regulation changes and FINRA guidelines amend the way paper is handled and archived. In turn, Financial Firms are challenged with strenuous compliance requirements to make certain all documents are accounted for and signed appropriately.

While the industry is ultra focused on Millennials inheriting Baby Boomer money and taking over the market in big way, many advisors are forgetting about the demographic that is at the peak of their earning years right now – Generation X.

This generation makes up 60 million people. This is a huge demographic for the financial industry which is why financial planners need to start paying more attention to this “forgotten generation” as Investment News calls it.  Gen Xers are skeptical to invest due to the 2008 financial crisis and even more suspicious of hiring a Financial Advisor, fearing they will be taken advantage of. According to a 2014 Allianz Life Survey, 75% of Gen Xers believe financial advisors are just out to sell them something and make money for themselves. It's possible to turn this stat around if you understand their financial pain points and speak their language.