December 18, 2018 | Article

2019 is around the corner and it’s time to come up with resolutions for the new year. It’s also a great time to work with your clients to review their financial plans for the next year. Providing them with a recap of how the year went for them financially and insights for the next year will help them stay focused on achieving their financial goals.

You can suggest implementing an automated savings plan to add contributions to their investments or retirement. Or, it could be something as simple as automatically transferring a percentage of their cash inflow to a checking account or a dedicated savings account so they don’t have to worry about taking the time to do that on their own.

Not only can you suggest implementing a dedicated savings account, you can also suggest allocating a portion – or all of it, if they choose – to then be invested. Depending on their financial goals, you could recommend mutual funds, certificates, or what best fits their investing habits.

Another method of helping your clients keep track of their spending is limiting their methods of spending to only one or two. This will consolidate their cash outflow. For example, rather than using three different credit cards for a mix of bills, dining out, miscellaneous expenses, etc., consolidating to one card for bills and one card for “fun” can give them a better snapshot of their spending habits.

Lastly, you can review and assess monthly recurring expenses with your clients to see what can be trimmed or removed altogether. If the client’s expenses can be decreased, it’ll potentially increase what they can invest for a better financial future.

As the new year draws near, what actions will you take to help your clients prepare for 2019?

RoboWholesaler is a technology that was created to help Financial Advisors looking for ways to save time and enhance their productivity. With their time spent more efficiently, they’re able to focus on developing the interpersonal component of their client relationships and grow their businesses. The RoboWholesaler app is now available for free in the App Store and Google Play. It offers you a fast, easy way to review fund performance rankings, get up-to-date fund fact sheets for top-performing funds and at-a-glance summaries of key fund information.


I verify that I am a registered Financial Advisor serving clients, not an individual investor and have read and agree to the Terms of Use and Privacy Policy.