Advisors reveal top resolutions for 2024
The ball in Times Square will soon be dropping, closing the book on 2023 and ushering in a brand-new year. It also means it’s time for financial advisors intent on improving their practices to get their new year’s resolutions on the record.
A raging bull market hides a lot of errors, both forced and unforced, over the course of a year. When a client sees his or her account balances surge higher in their year-end statement, they tend to forgive the bouts of sloppy service or poor communication that otherwise may have irked them enough into moving their business.
Stated differently, inertia is a powerful force when the S&P 500 is up almost 25%. Such returns generally give clients little incentive to hassle with all that paperwork necessary to shift their accounts to the competitors that have been whispering in their ears since last January.
Those type of outsized gains, however, don’t come along every year, which is why the best financial advisors consistently seek to improve their operations. And what better time to start that process than New Year’s Day.
Laurie Humphrey, financial advisor at Granite Financial, part of Osaic, has a pair of resolutions for 2024, one for her clients and one for her practice.
“I resolve to incorporate values-based planning more consistently into my practice,” said Humphrey. “Helping my clients to stay aligned in their values in times of uncertainty was an important part of 2023 due to market volatility and I anticipate that refocusing on those values will be of importance as we enter an election year.”
As for her practice, Humphrey is challenging herself to “streamline processes to help with staff efficiencies through better use of available technology.”
Christina Nash, founding partner and
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