Articles for Advisors

How Professionals Differ From Each Other

Spectrem’s segmentation studies have for years looked at Professionals as a class of investors and compared that segment to other segments such as Corporate Senior Executives or Educators. But for its new Professional Series, Spectrem decided to look separately at Doctors, Lawyers and Accountants to see how they differ from the general population of affluent investors.


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Cold-Calling Works!

 Cold-calling is a fishing expedition. It’s dialing someone’s number, or sending an e-mail, without being asked to do so in an attempt to sell a good or service. It is a difficult way to make a living, even as it has mostly switched from actual phone calls to electronic communication.

But, for some financial advisors, it works.

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President's Blog - Do Wealthy Women Care?

Sometimes conventional wisdom and scientific research agree.

Women, in general, do care more about social responsibility and charitable contributions than do men. Asking a person on the street which gender is more caring about others, the answer is more often than not going to be “women”. 

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When Investors Consider Social Security

One of the income streams virtually all affluent investors take advantage of is the federal Social Security program, which offers benefits investors earned through deductions during their time in the work force. Although retirees access their Social Security benefits at different ages, they often use those benefits to handle a significant portion of their monthly expenses in retirement.

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The Trust Industry and You

Spectrem’s 2017 Comprehensive Bank Trust Update shows the continued deterioration of the personal trust industry. According to the in-depth analysis of trust accounts in the U.S., the number of personal bank trust accounts held in trust institutions fell to 571,044 in 2016, marking the seventh consecutive annual decrease and the largest decrease by number since 2011.

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The Institutions Holding Trust Assets

 The number of managed personal trusts continues to drop in America, but the concentration of those accounts remains constant and highly gathered among the top 10 holding companies.

Spectrem’s 2017 Comprehensive Bank Trust Update explains that the number of financial institutions with trust assets remaining steady, with almost 1,200 banks or holding companies operating a trust department (a number that dropped slightly from 2016). But the top 10 firms control 58 percent of all personal trust assets, with $33 billion and above held in each of those accounts.

Bank of America remains the firm with the most trust assets, with over $100 billion in trust accounts.

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