Books Recommended by Wealth Management Advisors for Continuous Learning and Improvement
The Importance of Reading Beyond Finance: Books Recommended by Wealth Advisors
In the fast-paced world of wealth management, advisors are constantly seeking ways to improve their skills and knowledge. One of the key ways they do this is by reading, not just about investing and planning, but also about a wide range of topics that can help them better understand their clients and provide more personalized advice.
For this week’s Barron’s Advisor Big Q, we asked several advisors to recommend books that have benefited them and that they believe would be valuable for other advisors to read. Here are some of their recommendations:
Maggi Keating, senior portfolio manager at FBB Capital Partners, recently reread “The Last Lecture” by Randy Pausch. The book reminded her of the importance of getting to know clients personally and understanding their goals beyond just the numbers. It also emphasized the importance of maintaining a sense of humor and leaving a meaningful legacy.
Kurt Nye, group head of alternative investments at MAI Capital Management, recommended “Asset Management: A Systematic Approach to Factor Investing” by Andrew Ang. The book provides a foundation for analyzing the risk-adjusted returns of different investment opportunities and emphasizes the importance of understanding underlying risk exposures.
Abby Mead, wealth advisor at Chilton Trust, recommended “How Doctors Think” by Jerome Groopman, M.D. While not finance-specific, the book teaches valuable lessons about listening to clients, understanding their unique situations, and avoiding bias in advice-giving. Mead believes these skills are essential for building trusting relationships with clients.
Daniel Razvi, senior partner and COO at Higher Ground Financial Group, recommended books by tax expert Ed Slott, including “The Retirement Savings Time Bomb” series. These books provide valuable information on tax strategies for retirement savings and emphasize the importance of minimizing taxes in financial planning.
Deborah George, managing director at Logan Capital, recommended “What Every Body is Saying” by ex-FBI agent Joe Navarro. The book teaches readers how to interpret body language and nonverbal cues, which can be valuable for understanding clients and building strong relationships.
These book recommendations highlight the diverse range of topics that can benefit wealth advisors, from understanding risk exposures in investments to improving interpersonal skills and communication. By continually seeking out new knowledge and perspectives, advisors can better serve their clients and stay ahead in the ever-evolving world of wealth management.