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Advising LGBT and Foreign Clients; How Advisors Are Like Political Strategists: February IA Features—Slideshow

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The repeal of Section 3 of the Defense of Marriage Act paved the way to open marriage benefits for gay couples, but if they live in states that don’t recognize same-sex marriage—of which there are still 15—they may still require the kind of complex financial planning they required before the repeal. For our cover story this month, Olivia Mellan and Sherry Christie spoke with several advisors who have been working with LGBT clients to make sure their financial and estate plans adequately protect their families.

Advisors with clients who live in other countries are challenged as well, and those with foreign nationals or American expats among their client base need to be sensitive to cultural differences as well as knowledgeable.

Finally, FA Insight provides the third article in its four-part series detailing how the most successful firms are managing growth to grow sustainably and avoid burning out. The trick, they found, is to think like a politician’s right-hand man—the campaign manager.

Rainbow Warriors Rainbow Warriors

Back in 1970, most Americans would have scoffed at the idea that by 2015 there would be 250,000 legally married couples of the same sex. And who would have thought that households of a married man and woman with one or more children would shrink to a small minority? But just 19.3% of U.S. households now fit the traditional type, compared to 40.3% in 1970, according to Allianz’s 2014 “LoveFamilyMoney” study.

Olivia Mellan and Sherry Christie talk to advisors and leaders who are helping gay and lesbian clients manage often precarious legal situations to protect their families.

Read the full article.

Global Clients Need Global AdvisorsGlobal Clients Need Global Advisors

As technology makes the world smaller and investors reach for opportunities beyond their borders, advisors may find themselves with new challenges if they take on clients who live in other countries. Taxes, culture, time zones—advising a client a continent away, whether they’re there permanently or temporarily, is challenging.

Ozgur Karaosmanoglu and Aydin Tuncer, who lead the Global Wealth Management Group of Raymond James, explain how they’ve built a practice where they can help clients in almost 50 different countries manage their wealth.

Read the full article.

Strategizing Like a Statesman: 2014 FA Insight Growth by DesignStrategizing Like a Statesman

It’s not that often that the private sector turns to the political arena for inspiration. At best, those outside politics consider political processes to be unexceptional. There is, however, one remarkable political skill that businesses should take note of.

There may be no better example of strategic thinking and execution than that demonstrated by a major U.S. political party during an election campaign. In their latest article detailing findings from the “2014 FA Insight Study of Advisory Firms: Growth by Design,” Eliza De Pardo and Dan Inveen draw parallels between political strategists and financial advisors.

Read the full article.


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