Advisors Ahead Resident Workbook 5-14 … ·...

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Resident W

orkbook

Resident Workbook

Advisors Ahead Resident Wealth Management Development Program


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THE ADVISORS AHEAD RESIDENT WEALTH MANAGEMENT DEVELOPMENT PROGRAM 4

THE NEW ADVISOR DEVELOPMENT PARADIGM 5

CORE DIFFERENTIATORS EMBEDDED IN OUR CURRICULUM 6

SUGGESTED SITES 8

WEEK 1 11

WEEK 2 12

WEEK 3 13

WEEK 4 14

WEEK 5 15

WEEK 6 16

WEEK 7 17

WEEK 8 18

WEEK 9 19

WEEK 10 20

WEEK 11 21

WEEK 12 22

WEEK 13 23

WEEK 14 24

WEEK 15 25

TABLE OF CONTENTS


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WEEK 16 26

WEEK 17 27

WEEK 18 28

WEEK 19 29

WEEK 20 30

WEEK 21 31

WEEK 22 32

WEEK 23 33

WEEK 24 34

WEEK 25 35

WEEK 26 36

WEEK 27 37

WEEK 28 38

WEEK 29 39

WEEK 30 40

WEEK 31 41

WEEK 32 42

WEEK 33 43

WEEK 34 44

WEEK 35 45


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WEEK 36 46

WEEK 37 47

WEEK 38 48

WEEK 39 49

WEEKS 40-‐52 50


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The Advisors Ahead Resident Wealth Management Development Program

Congratulations on pursuing a career in the Financial Services Industry; an industry that directly impacts every business and person in the world. Whether for business, education, retirement or general standard of living, sound financial advice is at its foundation.

Financial Services Firms need young, talented candidates that are collaborative, have high baseline competency, and embrace the professional responsibility to expand the practice.

Recent studies, which were highlighted in an Accenture white paper titled “Advisor Succession Planning: Managing the Retirement of Baby Boom Advisors: confirms the need for developing the younger candidate. Specifically, Accenture’s research noted:

• The average age of Advisors is approximately 50 years old in the U.S. • 21% of the Advisor workforce is over 60 years old. • Less than 25% of Advisors are under 40. • Only 5% of Advisors are under 30 years old.

Also, a Pershing study found that of the 315,000 Advisors currently working in the U.S., 12,000 to 16,000 will retire every year for the next decade. The result is that the Financial Advisory Business will need 237,000 new Advisors in the next ten years to maintain its current headcount.

Advisors Ahead was founded to match the demands of the financial services industry with qualified, talented, college graduates. We believe this will be the Next Generation of talent to fill the careers of Advisors, Planners and the various other capacities in this incredibly, dynamic field.

With these elements and demographics in mind, our mission is quite simple.

Advisors Ahead is committed to providing the Financial Services Industry the Next Generation of Financial Advisors, Planners and other Professionals through rigorous selection and continually updated state-‐of-‐the-‐art training and development.


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The New Advisor Development Paradigm The new Advisor will always have to execute the baseline activities of being a Financial Advisor. Our Resident Wealth Management Development Program accomplishes that requirement but goes beyond, to teach and instill the new paradigm of today’s Financial Services Industry. This new paradigm acknowledges fiduciary standards and that many new Advisors are primarily joining existing teams who are creating capacity, transition or succession options for their practice. This allows for a new onboarding model and provides a fundamentally different opportunity for approaching prospects and interacting with assigned clients. The new paradigm shift to meet the new reality of our industry allows for:

• Addressing the need to build cognitive capacity to leverage research around Emotional

Intelligence in order to engage prospects and clients in a more rich and meaningful way. • Execute Advisor activities leveraging technology in a more efficient and succinct manner to

create efficiency and increase scale. • Provide new Advisors insight on the latest best practices in the use of systems and tools to

deliver wealth management solutions. • Provide new Advisors business models and business strategy tools to refine and innovate their

practices in order to deal with the complexity and change of the competitive environment. • Build client engagement skills around a broad range of wealth topics with specific objectives to

understand the client situation in deeper and more effective ways. • Raise the ability of new Advisors to provide leadership and counseling, helping clients make

informed choices by examining multiple perspectives, so outcomes have a higher chance of meeting informed expectations.

• Ensure execution is motivating the client to action and doing the right thing for the client at the right time.

New Advisors will have new perspectives and capabilities that take advantage of the paradigm shifts. By default, they will also positively influence the current practice they are joining with fresh ideas and approaches that help firms and Advisors keep pace with accelerating change.


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Core Differentiators Embedded in Our Curriculum The future Advisor must be able to execute the core competencies of any new Advisor. Our program ensures they are able to do this in a manner that springs from self-‐awareness, and results in client connections that establish trust by generating experiences that are personally meaningful to prospects and clients. The future Advisor must be able to:

1. Engage the prospects when they explore a potential business relationship. 2. Lead the initial discovery and understand the client’s current situation allowing them to map what

has been learned to their aspiration for their future. 3. Design solutions to solve uncovered and agreed upon gaps that exist in the current situation

compared to the aspiration. 4. Present the solutions in a way that resonates, educates, and connects the solutions to close the

gaps and improve the client’s financial situation. 5. Provide a systematic process to deliver additional support as the client and their family move

through their life stages, helping address and meet the complexity of these changes and the variables of the world in which they live.

Additionally, the future Advisor graduating from our program is differentiated by aligning with the technology in their practice, technology offered to consumers, and supports their clients’ preference to use technology. Upon completion, Advisors will be in the position of counselor across both the factual and emotional elements of clients’ lives. Advisors must demonstrate the following key differentiators to appeal and retain today and tomorrow’s consumer:

• Advisors must leverage their skills to connect with clients in a deeper way that are both gender and generationally specific, and provide methodologies for helping clients in their decision making efforts.

• Advisors must move from the mindset of “the expert with the answer” to that of a “counselor that informs and educates” the consumer.

• Advisors must possess expertise in a broad range of financial issues and educate clients to understand the consequences of their choices.

• Advisors must know the decisions required at each life stage, and help clients make the appropriate decision, recognizing the complexities of their life.

• Advisors must embrace new technologies that clients are adopting and find ways to create value in their services.

• Advisors must recognize clients have complicated lives and provide organization to simplify, while maintaining flexibility to deal with complexity.

• Advisors must state their value proposition to show relevance and differentiate from the competitive threats that are substituting the traditional Advisor’s role as the information source and access to financial products. Trust is the foundation of each and every relationship.

• Advisors must leverage integrated technology platforms to deliver their solutions efficiently and to provide a superb client experience.

• Wealth Management Development Training


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Congratulations, You are Ready to Begin!

The following pages are the required curriculum for your Resident Wealth Management Development Program. These pages will help guide you through the entire 52-‐week process. This Workbook will act as a supplement to your on-‐line course of study. By now you have been provided a username and password that will grant you access to secured pages on the Advisors Ahead website. Please keep this information stored in a secured location. You will need to access the Training Website on a daily basis to go through your courses of study as well as to receive any and all instructional data along with Program updates.

Congratulations once again. We wish you continued success. Please contact us with any questions you may have.

Craig D. Pfeiffer Clay A. Skurdal Founder and CEO Director of Candidate Development


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Suggested Sites

Wall Street Journal Website

Barron’s Website

Investors Business Daily Website

Yahoo Finance

NASDAQ Website

NYSE Website

S&P News Website

www.reuters.com

www.riabiz.com

www.onwallstreet.com

www.advisorone.com

www.financial-‐planning.com

www.advisorperspectives.com

www.investmentnews.com

www.fpanet.com

www.blogs.forbes.com/advisor

www.cfp.net

www.bucks.blogs.nytimes.com


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Suggested Search Terms

Market Research HNW Client

World Wealth Report Capgemini

How to choose a financial advisor

Financial Planning

Financial Advice

Investment Planning

Wealth Management

Retirement Planning

Retirement Income

Risk Management

CIMA

IMCA

Asset Allocation

Ron Surz

Dorsey Wright

Warren Buffet Annual Letter

Dalbar Rankings

Morningstar

NACUBO

ETF

CFP


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Contact Role Name E-mail

Founder and CEO Craig Pfeiffer [email protected]

Chief Business Officer Michael Marciniak [email protected]

Director of Candidate Development Clay Skurdal [email protected]

Director of Human Resources Robin Hannam [email protected]

Director of Marketing & Strategic Initiatives

Kelly Laguaite [email protected]


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Week 1 Required Activities

• Log in and complete Module 1, Introduction to Financial Planning on the Advisors Ahead Training Site

• Meet and greet assigned Professional and team members • Complete overview of Regulatory, Practice and Human Resource Policies • Familiarize yourself with on-‐site technology • Gain knowledge of the History, Tradition and Culture of your assigned Practice (with the

Corporate background if applicable) • Answer incoming calls or other applicable client greeting activities • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Review Training/Work Schedule with your Professional • Journal • Complete Weekly Activity Recap and Experience Survey and submit to Advisors Ahead • Participate in end of week re-‐cap conference call • Read financial publications such as Wall Street Journal, Investors Business Daily, Barron’s,

Business Weeks, Forbes or any other internal or external publication your Professional may recommend on Saturday or Sunday to prepare for the upcoming week

Purpose:

To immerse the Resident Candidate into the Practice. Our intent is not to overwhelm, but to educate. It is imperative that the Candidate covers the regulatory and human resource policies of the firm on day 1. Technology is a core competency along with sound Financial Planning. During week one you will be introduced to both. Equally important is being able to converse with clients and prospects. We believe the best opportunity is providing hands on experience by greeting clients whether in person or via the phone.

A core competence, one that is ongoing throughout your career, is being a student of the markets. A critical element to success is developing a strong interest rate and market opinion. This will allow the Candidate to become a valuable resource to your clients and team.

Your experience and feedback is important to us. Please complete your Journal on a daily basis and be prepared to share your week on this Friday’s call.

Objectives:

• Establish a relationship with your assigned Professional and team • Begin developing competencies in technology and financial planning • Being able to converse with clients and prospects

Attested to by:_____________________ Date:______________


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• Log in and complete Module 2, Understanding the Importance of Financial Planning • Discover the investment products that your Professional uses in their Practice and why • Client service activities • Operations activities • Learn the Financial Planning tools available in your Professionals Practice • Prepare a Financial Plan on yourself and be prepared to share results on our Friday call • Recap your past 2 weeks with your assigned Professional • Hold 1:1 with your Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Complete Weekly Activity Recap and email to Advisors Ahead • Read your preferred financial publications to continue to establish a strong interest rate and

market opinion

Purpose:

Understanding the importance of financial planning and the impact on clients. Understand the systems and processes which enable the practice to provide excellent client service. This starts with the client on-‐boarding process in the operations area and leads itself to the ongoing service relationship that the Professional and their team provide. While each Practice my vary in their core business and service strategies, there are some foundational aspects that will insure long lasting relationships. These are represented by best practices.

Objective:

• Developing skills to impletment a financial plan. • How to onboard a new client. • Understand the progression of work flow in the onboarding process. • Identify the best practices utilized in servicing current relationships. • Develop conviction with respect to your interest rate and market opinion.



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• Log in and complete Module 3, Introduction to Securities Markets • Observe and take notes in a client or prospect meeting • Observe service aspects of assigned Professional • Continue reading financial periodicals to enhance interest rate and market opinion • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Complete Weekly Activity Recap and email to Advisors Ahead • Friday conference call with Advisors Ahead team

Purpose:

Understanding the capital markets is critical to sound financial planning. Begin observing how your assigned professional implements financial planning and capital markets into their Practice. At the core of our model is learning by observing a successful professional practice their trade.

Objective:

• Develop an understanding of the capital markets • Begin to develop your own interest rate and market opinion • Start to understand the impact of current news and events to financial markets



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• Log in and complete Module 4, Behavioral DNA • Review your goals and revise as necessary • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To understand the many different communication styles that exist.

Objectives:

• Understand the different styles of communication. • Develop better communication skills.



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• Log in and complete module 5, Yield • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Participate in the Friday conference call • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Understanding how the yield curve impacts financial decisions.

Objective:

• See how finanial planning decisions can be impacted by the yield curve



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• Log in and complete Module 6, Business Etiquette • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Educate the candidate on appropriate attire and ettiquite inside as well as outside the office.

Objective:

• Insure the Candidate makes a favorable impression and is a fine representative of the Practice.



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• Log in and complete Module 7, Personal Performance Development • Review the first 6 weeks of your Program with your Professional • Identify the one item you would like to accomplish or experience • Hold 1:1 with Professional and schedule next weeks session • Complete assigned projects and prepare necessary resources for next week’s priorities • Journal • Participate in weekly conference call • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To begin developing strong selling and presentation skills along with developing one’s value proposition.

Objective:

• Review with your Professional and Advisors Ahead your intial expectations and whether or not you are achieving them

• Begin to develop your own business style using past curriculum, observation an demonstration



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• Log in and complete Module 8, Delivering Concierge Level Service • Continue to participate in client and prospective client meetings • Participate in Marketing and Client Service activities • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To observe activities that will enhance client service and experience. Begin to develop best practices to deliver concierge level service.

Objective:

• Enhance soft skills by observing marketing and service practices • Assist in the implementation of these practices • Begin to create your own ideas around client service and retention activities



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• Log in and complete Module 9, Investing in Equities • Continued observation of client engagement and marketing activities • Hold 1:1 with Professional and schedule next weeks session • Continued observation and demonstration • Journal • Participate in Friday conference call • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Developing investment skills related to fundamental and technical analysis and the impact of economic cycles on the equities.

Objective:

• Learning to become a student of the equity markets • Identify one element of the Professionals business that you feel you would like to explore in more

detail and be prepared to discuss on the Friday call



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• Log in and complete Module 10, Investing in Bonds • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Understand the importance of bonds in a clients portfolio.

Objective:

• Understanding the importance of fixed income in Financial Planning



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• Log in and complete Module 11, Investing in Money Market Instruments • Friday Conference Call • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Understanding the importance of liquidity for clients as related to thier overall financial plan.

Objective:

• Understand the various forms of Money Market Instruments and their composition • See if your interest rate or market opinion has changed



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• Log in and complete Module 12, Investment Principles • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Understand how sound Investment Principles impact Financial Planning.

Objective:

• Learn the importance of Risk, Return and how dollar cost averaging, reinvestment and diversification can have a positive impact on performance.



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• Open Review • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Reflect upon the past 13 weeks and your experience, to date, in the Pratice. To finish any incomplete modules prior to moving forward.

Objective:

• To debrief with your Professional and team members along with Advisors Ahead



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• Log In and Complete Module 14, Asset Allocation • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To understand the importance of asset classes and how various securities are correlated and how it impacts the overall risk of a portfolio. The concept of the Efficient Frontier is introduced to optimize risk vs. return.

Objective:

• To understand how asset allocation is critical to sound Financial Planning.



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• Log In and complete Module 15, Managing Client Expectations • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To begin to define the elements of being a successful Financial Advisor. In this Module, you will develop common language skills that are instrumental in formulating an Investment Policy for clients. The components of portfolio evaluation and implementation are also explored.

Objective

• To develop an understanding of what is an Investment Policy. • Gain knowledge on the evaluation and implementation of a Portfolio.



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• Log In and complete Module 16, The Human Side of Investing • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Human nature is explored as it can lead to either too much optimism or pessimism. You will understand the emotions that drive certain individuals to make decisions and learn how to identify these characteristics as well as how to manage them in the context of an Investment Policy.

Objective:

• To learn the different emotions around Financial Decisions. • When to cut losses and how to deal with the fear of regret. • Client emotions and their impact on implementing Investment Policy.



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• Log In and Complete Module 17, Fundamentals of Mutual Funds • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Today’s successful Advisor must be astute in the knowledge of Mutual Funds. This Module identifies all components and types of mutual funds as well as the Regulatory issues that govern them.

Objective:

• To understand the various types of Mutual Funds. • Gain knowledge of the Rules and Regulations that govern Mutual Funds and the impact on the

Advisor.



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• Log In and Complete Module 18, Introduction to World Equity Markets • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

In Week 9, the Resident was exposed to the domestic equity market. In this Module, the Resident will be educated on the ownership of different classes and types of equities that include ADR’s, Ordinary Shares and Private Placements.

Objective:

• Understand the Global nature of the Equity Markets. • Identify investment opportunities that are outside our borders.



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• Log In and Complete Module 19, Introduction to World Bond Markets • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To expose the Resident to the World Bond Market, the Euro is studied. This will be a brief overview only to give an individual working knowledge of the overseas market and how it impacts the United States. The world is no longer flat! Events abroad impact Markets across the globe.

Objective:

• To develop basic understanding of the Euro and its impact on World Markets.



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• Log in and Complete Module 20, Introduction to Bonds • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

In week 10, you covered bonds from a basic investment view. This Module will cover the important dates and the cash flow aspects of bonds. These are important features and benefits that must be easily explained to clients in a Financial Planning setting.

Objective:

• To understand the concepts of accrued interest, yields and quoting. • To have knowledge of STRIPS and their investment purpose.



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• Log in and Complete Module 21, Yield Analytics • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Bonds are a very important component of many Investment Portfolios. Consequently, Module 21 begins an advanced look at the yield curve and its investment implications. The concepts of duration and convexity are touched upon as is a deep understanding of basis points and cash flow.

Objective:

• To be able to explain the yield curve and its investment implications. • Being competent at calculating yield and cash flow.



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• Log In and Complete Module 22, Bond Yield • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

This Module is and extension of Module 21 where yield is examined in detail. You will have a deep understanding on being able to calculate and compare yields on various fixed income instruments.

Objective:

• To be proficient in comparing and calculating bond yields.



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• Log In and Complete Module 23, Bond Duration • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

This is the last Module on Bonds. Therefore, all prior learned and observed knowledge will be applied with regards to calculating and altering a Portfolios Duration. Learn the impact on Financial Planning with respect to the clients overall needs and goals.

Objective:

• To be proficient in calculating duration and altering a Portfolio’s duration.



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• Log In and Complete Module 24, Portfolio Duration • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

While some similarities to Module 23, Portfolio Duration will allow you to understand duration from a diversified portfolios context.

Objective:

• The concept of duration should now be fully understood as it relates to portfolio construction. • Opportunity to allow for review if the Resident does not have complete mastery of concept.



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• Log In and Complete Module 25, Portfolio Returns • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To understand how all prior modules begin to fit together in Portfolio construction. Key concepts will be covered such as marking to the market, weighted returns and calculating portfolio returns on an average and annualized basis.

Objective:

• To begin to gain and apply advanced knowledge to portfolio construction.



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Purpose:

Reflect upon the past 13 weeks and your experience, to date, in the Pratice. To finish any incomplete modules prior to moving forward. Given all advanced curriculum, observation, demonstration of learned skills and evaluation, what strengths have you developed? Where do you see areas that might need to be strengthend? This week is your time to begin to assess your own skills and how they can be used to facilitate the overall Teams client service and experience.

Objective:

• To debrief with your Professional and team members along with Advisors Ahead.

Attested to by:_____________________ Date:_____________


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• Log In and Complete Module 27, Portfolio Risk • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Risk and return are key components that must be constantly accessed as all clients are different based upon emotional, demographic and cultural factors. The concept of volatility is introduced and how it impacts risk adjusted performance.

Objective:

• To become proficient at accessing frequency distribution and risk adjusted performance.



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• Log In and Complete Module 28, Portfolio Diversification • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To become proficient utilizing previous learned concepts and now being able to apply them to make sound decisions. Portfolio diversification will go into detail about reading scatter graphs. It will conclude with the concepts of correlation, variance and covariance and diversification.

Objective:

• To be able to interpret a scatter graph. • To understand advanced portfolio management concepts and to be able to apply them.



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• Log In and Complete Module 29, Introduction to Portfolio Management • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Module 29 is the concluding Module for portfolio construction prior to beginning an analysis of the various components of Investment Management. Advisors Ahead encourages all Residents to understand past concepts prior to undertaking this Module. This week will cover the Efficient Frontier, diversification and its limits and how these all relate to investor risk and return preferences.

Objective:

• To becoming proficient at choosing the optimal portfolio for clients.



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• Log In and Begin Module 30, Building Trust Expertise – Investment Management • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To begin incorporating all past learned and observed knowledge. The Resident will be introduced to fundamenatl and technical analysis, bond and stock selection, how these elements are impacted by various economic events and legal considerations surrounding the Prudent Man Rule.

Objective:

• To be fully competent in all aspects of portfolio design, construction and implementation.



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• Log In and Complete Module 31, Building Trust Expertise – Investment Management • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

This will conclude the Module, Building Trust expertise – Investment Management. The purpose is the same as the prior week, to begin incorporating all past learned and observed knowledge. The Resident will be introduced to fundamenatl and technical analysis, bond and stock selection, how these elements are impacted by various economic events and legal considerations surrounding the Prudent Man Rule.

Objective:

• To be fully competent in all aspects of portfolio design, construction and implementation. • Begin to assess how these elements are used in your assigned Practice. • Begin to contemplate how they would be utilized with your own clients or for personal use.



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• Log In and Complete Module 32, Delivering Concierge Level Service. • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Now that you have spent time in the Practice, you have a better understanding of the importance of unparralled client service. How can you stand out from the crowd? How can you differentiate your Practice from all others?

Objective:

• To develop techniques, systems and processes to deliver Concierge Level Service.



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• Log In and Complete Module 33, Introduction to Monte Carlo Simulation • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To understand the importance of probability analysis as a basis to the underlying factors in a Financial Plan.

Objective:

• To understand what is Monte Carlo Analysis and why it is used. • To understand path generation for Securities.



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• Log In and Complete Module 34, Business Trust Expertise – Taxation & Estate Planning • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

Sound Financial Planning must take tax consequences, as well as Estate Planning variables, into consideration. This Module will begin to explore Estate Taxes and the various techniques to minimize Estate Taxes.

Objective:

• To gain basic tax knowledge on Trusts and how they are taxed. • To gain basic knowledge on how to minimize Estate Taxes.



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• Log In and Complete Module 35, Business Trust Expertise – Taxation & Estate Planning • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

The Module will be completed this week and cover basic Estate Planning. More importantly, the Resident will examine benefits of lifetime gifting, planning and marital deductions.

Objective:

• To gain knowledge of Estate Planning and how it ties into Financial Planning.



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• Log In and Complete Module 36, Alternatives • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To gain exposure into derivatives and hedge funds. What are hedge funds, why are they used and what is the difference between alternatives and traditionals?

Objective:

• To learn why clients use alternatives in their portfolios. • To learn the basic types of investment products that are categorized as alternatives.



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• Log In and Complete Module 37, Investing in Hedge Funds • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To understand the basic characteristics and regulations surrounding hedge funds. To examine risk and performance and the suitability aspects with regards to a client.

Objective:

• To understand why hedge funds are used in portfolio management. • To gain knowledge of suitability issues with regards to risk and liquidity.



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• Log in and Complete Module 38, Personal Tax Return Analysis • Hold 1:1 with Professional and schedule next weeks session • Journal • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

We conclude our core curriculumm training with an undestanding of tax returns and its components. The foundational aspects of capital gains, losses, K-‐1’s, and social security are addressed. A working knowledge of the 1040 is necessary when constructing a Financial Plan and this module will go through the common components.

Objective:

• Understanding interest income and dividends and the tax treatment of each. • Gain knowledge in the treatment of capital gains/losses, IRA Distributions and Partnerships. • Social Security and other retirement income distributions.



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Purpose:

Reflect upon the past 38 weeks and your experience, to date, in the Pratice. To finish any incomplete modules prior to moving forward. Reflect upon the 5 Core Elements of your training: Wealth Management, Emotional Intelligence and Communicaition, Presentation Skills, Delivering Concierge Level Service and Technology. Please finish any incomplete modules and be prepared to share your thoughts on our next bi-‐weekly call.

Objective:

• To debrief with your Professional and team members along with Advisors Ahead. • Begin to prepare for licensing and examinations.



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Weeks 40-‐52 Required Activities

• Complete coursework in preparation for the Series 7 & 66 along with any State Insurance licensing requirements. Coursework and schedules are posted on the Advisors Ahead Training Website

• Continue to facilitate Wealth Management activities inside your Practice • Hold 1:1 with Professional and schedule next weeks session • Journal • Attend Bi-‐Weekly calls • Complete Weekly Activity Recap and email to Advisors Ahead

Purpose:

To prepare to sit for your licensing exams to continue to develop and facilitate Wealth Management task within your assigned Practice.

Objective:

• To obtain the appropriate licensing necessary


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Advisors Ahead Resident Workbook 5-14 … ·...

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