The financial advisory space is becoming increasingly competitive as companies fight for a piece of the pie among both college graduates just entering the workforce and retirees looking to maximize their twilight years.
With the constantly-evolving competitive landscape, advisors should look toward online blogs, journals, and news outlets to stay on top of the latest industry developments and maintain their competitive edge. Here are some of the most influential blogs that financial advisors should follow for keen insights.
- Financial professionals should always be on the lookout for new information about the markets, best practices, and marketing techniques to build a successful business.
- While books and seminars are helpful, the production and publication process means that they can lag behind the latest innovations.
- Blogs written by reputable authors and industry insiders, on the other hand, can offer glimpses into the cutting edge and exciting new developments.
The Reformed Broker
The Reformed Broker is quite possibly the most widely followed financial advisor blog in the country. As CEO of Ritholtz Wealth Management, Joshua M. Brown is a New York City-based financial advisor, author of books including "Backstage Wall Street" and an advisor on the boards of innovative companies in the space like Riskalyze. In 2015, he was also named to Investment News’ "40 Under 40" list of the top financial advisors in the country.
Abnormal Returns is a popular investment blog maintained by Tadas Viskanta, a private investor with more than 25 years of experience in the financial markets. In addition to the blog, he is the co-author of over a dozen investment-related papers that have appeared in places like the Financial Analysts Journal and others, as well as a book titled "Abnormal Returns: Winning Strategies from the Frontlines of the Investment Blogosphere."
In particular, financial advisors should watch for Viskanta's Links of the Day posts, which provides daily charts, market news, strategy news, companies to watch, and other information that’s highly relevant to all financial advisors. In addition, advisors can sign-up for free to receive his latest posts by e-mail.
FP Pad is a leading source of news, insight, and thought leadership on financial planning technology, which has since expanded into a YouTube channel, iTunes podcast, and other content. On the blog, Bill Winterberg and other contributors discuss financial planning technology—including topics like lead generation—which make it a must-read for tech-savvy advisors who operate their own website and rely on the Internet to generate traffic.
While many financial planning blogs are text-heavy, FP Pad provides lots of video content, which mixes things up and brings a more digestible level of insight to the table. A recent video post, for example, reviewed five new technologies that are helpful for so-called location independent financial advisors who are always on the road.
Advisor Perspectives is an online publisher dedicated exclusively to registered investment advisors (RIAs), providing both market commentary and industry-related analysis on asset allocation and other topics. In addition to the articles, the company provides e-mail newsletters that contain actionable insights related to investment strategies and the overall economy, as well as interviews with key opinion leaders within the industry.
Unlike many other blogs targeting financial advisors, Advisor Perspectives is curated with a number of different contributors, which results in a wealth of different opinions. Recent posts have discussed everything from research designed to make meetings more efficient to a mid-year look at the state of the high yield bond industry.
Nerd’s Eye View
Michael Kitces started Nerd’s Eye View back in 2008 to help financial advisors identify and capitalize on industry trends, as well as educate them on the more technical aspects of the industry in order to improve their quality of service. As a partner at Pinnacle Advisory Group, Kitces' insights can help advisors better attract and retain their clients through both technological and behavioral changes and ultimately grow their business.
In particular, readers may want to pay attention to Kitces' weekend posts that outline some of the most important developments for the week. A recent post highlighted a new fiduciary proposal at the Department of Labor that could have a tremendous impact on the lives of all financial advisors.
The Bottom Line
A smart way for financial advisors to stay tuned in to important industry trends is to follow what known, respected experts are talking about. Blogs, like the ones suggested above, should be designated reading for all advisors looking to capture more market share.