Wealth Management – Why to Contact an Advisor

Wealth management services aren’t only for the “wealthy” as defined with those as millions of dollars of income…in fact, most people can benefit from the services of a wealth management advisor to help with everything from estate planning to life insurance, wealth transfer to retirement investing. Perhaps you’ve been moderately successful at investing on your own-but now you don’t have the time. Perhaps you’ve been unsuccessful at investing on your own-don’t beat yourself up. “Do what you’re good at” is advice given to many-and successful wealth management advisors are good at helping clients with a portfolio!

Of course, finances and wealth management are sensitive and personal subjects, so you’ll want to do careful research prior to finding an advisor. You’ll want to give careful thought to what you are expecting an advisor to do-offer you help on a transactional basis on certain products? Help you plan a long-term investing strategy on a fee-for-services basis?

People have different reasons for contacting advisors. They include:

– Planning for education-This is even more important as tuitions rise and the job market becomes more selective, making a college degree even more important. Here, an advisor may recommend plans such as state-by-state 529 plans, or other investments depending upon your time horizon. If you are expecting to be hit with college expenses for a child and have less than 10 years to invest-with nothing saved-talking to a wealth management advisor now is a good idea!
– Minimize taxes-This is especially true for those reaching higher brackets as their income increases. Here, an advisor might suggest a variety of tax-deferred investments that will give you income upon retirement (when you might be in a lower bracket).
– Portfolio performance-Some judge this by getting the highest returns, while others view it as more important to protect a portfolio from loss. Don’t believe anyone who can guarantee performance-no one can. Instead, ask about investing philosophy and examples of how they’ve managed client portfolios in good and bad times, to gauge how your own portfolio might be managed
– Help define goals-This is especially helpful for couples who may have different attitudes about money-working with a professional (who is objective and outside the relationship) can be quite helpful in creating a long-term plan that both investors can believe in.

Regardless of your reasons, many investors find that working with an advisor has positive long-term effects on their finances, investments, and long-term wealth management strategies.

Surviving a Bad Graduate School Advisor

There are bad advisors in every institution of higher education in the world. Bad advisors cost students thousands of dollars, many months of unnecessary toil, and in too many cases, the graduate degree they are seeking. The EBD “degree” (Everything but the Dissertation) is frequently the result of bad advisement. Graduate students are abused by unscrupulous advisors, some of whom may be ignorant of their responsibilities toward the student, some who are deliberately abusive because graduate students represent an unwanted annoyance, or worse, advisors who enjoy the feeling of empowerment over another human being.

Red Flags

Students should be aware of red flags when choosing an advisor, such as:

1. A faculty member new to the department can make a bad advisor. He or
she is probably on a tenure track, meaning their work will be scrutinized by other members of the department and the college to which they belong.

I heard the following complaint typical of this red flag within the last month: “My department chair said Professor Smith was a rising star and had a lot of creative ideas. When I chose her and started my dissertation, she turned down the research topic I wanted to do and made me do her own. I am now doing my ninth revision of the proposal to do research, and she still keeps correcting practically every word I write.” I have heard this complaint, or a similar one, for 30 years.

New faculty members may be more interested in making a good impression on their new colleagues than in moving a student through the process in an expeditious manner, and the result can be an endless round of corrections and additions to a thesis or dissertation as they try to turn out a perfect piece of work on their first try. Also, they may never have managed a graduate student, and lack the skills to do so. Advisors do not take a class in how to be an advisor. Consequently, they tend to put students through the same process they went through themselves, and it may not have been a good model.

2. “You can call me Bob.” An advisor who insists that the student call them

by their first name is a red flag. This unfortunate behavior instantly puts the student at a disadvantage because forever afterward this artificial “friendship” prevents the student from speaking up, and may lead to all kinds of requests of the student that are not appropriate. The opposite is the advisor who acts like a king on a throne and forces the student to become a supplicant.

3. “Professor Jones is the finest researcher and scholar we have on the staff. He is supporting 10 graduate students, and is in demand as a speaker. It is an honor to be his student because he can really help you professionally.” This recommendation by a helpful faculty member is a red flag. An advisor who has a string of publications on their record and several research projects may look good on paper, but they do not necessarily make good advisors because graduate students can at the bottom of their priorities. They have little time to spare, are almost never in their offices, every meeting is hurried, and their trips to conferences and meetings can keep a student from making deadlines.

4. An advisor who fails to apprise a student of 1) the ground rules of the
departmental graduate or graduate school processes, or 2) the ground rules of their personal process for moving a student through research and writing a thesis or dissertation. The omission of information lays traps students. This particular red flag is hard to detect before it is too late, so the student should study the thesis and dissertation process of both the university and their department as if it were another class. There are several books about the process available on Amazon.com., particularly “Writing the Winning Thesis or Dissertation” by Glatthorn and Joyner.

The Rules

The unspoken rules of the graduate process keep students blind from the beginning. First, the chain of command is never explained. When in graduate school the Dean of the graduate school is the Dean presiding over the graduate student, not the Dean of the college. This arrangement is one of the checks and balances in place to protect graduate students from abuse. The position of graduate Dean is often a part-time appointment in addition to a regular faculty role. Consequently, the graduate school Editor, or an Assistant Dean are charged with the responsibility for solving student problems, and bringing those they cannot solve to the Dean’s attention.

When I was a graduate school editor I had the lofty title of Research and Writing Coordinator, but I was just an editor. Because there was no Assistant Dean, I was usually the first person to hear about abuse of a student. Only twice in 12 years was it too late to salvage the situation with the help of the Dean. Often, it was a matter of teaching the student to “manage upward,” as I called it, which I will discuss later in this article.

Second, a department must prove it is a viable asset to the university. In large part, departmental value to the university is based upon how many students they graduate per year. For instance, if a philosophy department only graduates one or two students a year, the department may be eliminated through programmatic reduction, including all faculty, tenured or not.

The university adds up the cost of the space a department occupies, the overhead to maintain that space, the cost of journal subscriptions for the library ordered by the department (that can cost a small fortune), classroom space, and all other costs of maintaining a degree-granting department. If the department cannot justify the expense of maintaining the program, it is in danger of being eliminated. This is one reason departments write research grants. A large percentage of grant money is given to the university for “overhead,” some is used to support the research project, and some supports graduate students.

One would think advisors would be cognizant that the very existence of their department is on the line when they abuse students to the degree that they never graduate.

Bad Behavior in the Ranks

Choosing an advisor should be easy after a student has taken a few classes from each member of the department, but it is not. A “nice” instructor may be the worst advisor in the department. A bad advisor has one or more of the following characteristics after they accept a student for advisement:

1. They treat graduate students like servants, asking them to sweep floors, stock
shelves, run errands, and do other tasks more appropriately assigned to a secretary or a paid assistant, and may ask a student to help out in their personal life by grocery shopping, cleaning the pool, or taking a car in for service. One student I counseled, in addition to all of the above, was cleaning up dog scat from his advisor’s back yard every day.

2. They take credit for student work, publishing papers under their own

name, talking about discoveries in meetings as if they were their own, and may go so far as to flunk the student out and then publish on the research the student generated. I know of two cases where the graduate student shot the advisor between the eyes for this last scurrilous behavior.

In another instance, the advisor of one student I counseled, together with two of the committee members, destroyed all of the student’s notes from which the dissertation was to be written, destroyed (or hid) the mutant strain of fruit flies that the student had developed, and threw away all of the student’s possessions, claiming that they thought this abrasive, but brilliant student, had left for good when he had only gone on vacation. The research represented a breakthrough in cancer research. In this case, the graduate dean signed the three-page dissertation himself as a committee of one, and the three faculty members were fired.

3. They do not define the graduate process for students by
withholding information, such as the need for approval to use of human subjects, which is a Federal law, the need to submit only letter-perfect complete drafts for approval (there is no such thing as a “rough” draft in graduate school), graduate school editorial requirements, deadlines, or other information critical for continuous forward progress. “They’re supposed to be adults. They should find out these things for themselves,” several advisors have told me. Nonsense. This bad behavior is entrapment.

4. They deliberately delay giving a draft back in a timely manner until the student is obliged to register for another semester. This behavior is particularly prevalent in online universities, many of whom are more interested in money than they are in granting degrees to students. I know of seven students from four different online institutions who will never graduate because after three or more years of working on their dissertations they have run out of money for additional semester hours. “Register for just one more semester and we will finish up,” is what students are told. There are no checks and balances in online universities to stop advisor abuse. In at least one case, it is the online institution that is abusive.

5. They riddle draft after draft with hundreds of corrections again and again.
These advisors frequently correct their own corrections. These advisors want the thesis or dissertation to sound like they wrote it themselves, and will endlessly correct language in the belief that they are making necessary changes.

6. They read a few token pages of a draft, find a few things wrong, and send the draft back for a complete revision, giving the student the unhelpful comment “Continue as shown.” If the student could read the advisor’s mind, this would be reasonable advice. If the student knew what the advisor wanted, it would have been done right the first time.

7. They demand that the student copy the exact format of the last several theses
or dissertations the advisor chaired, whether it suits the content or not. This behavior has one of two possible causes. Either the advisor is arrogant and egotistical and thinks his format is perfect, or the advisor is afraid to depart from a format with which he or she is familiar. In fact, I read a dissertation that had only 5 pages of text – and 50 pages of pictures of the wings of dragonflies. The dissertation represented four years of research. There is no “perfect” thesis or dissertation.

8. They allow students to propose such a huge research project that it will take

years, and/or thousands of dollars, to collect the data. Such students usually quit because they run out of money, or time, and become EBDs. One student I recently counseled had been allowed to propose collecting data by conducting personal interviews from over 1,000 elementary school teachers, one at a time. She would never have completed this task before her tenure in graduate school was terminated. Another last year was going to survey a giant sample of people scattered across the entire U.S. for a thesis. First, such a project for a thesis was inappropriate, and second, it would have taken years.

9. They do not have the courage to tell the student that they should drop out
of graduate school because they are not doing graduate level work. When I was
the graduate school editor I read an appalling dissertation from a very nice student. She had an advisor and three committee members. One committee member said he would “never” sign her dissertation after the oral defense, and she had come to complain about it. Her committee member was right. The dissertation looked like the work of a seventh-grade student. I wondered how she had gotten so far in higher education, and why she had not been stopped sooner by her advisor or the other committee members. Apparently, only one committee member had the courage to refuse her dissertation. She sued the university, but she did not get her doctor’s degree

There are other bad behaviors not listed here. The sign that a student has a bad advisor is when deadlines are missed, forward progress is attenuated, and no end is in sight. Becoming a victim of the Stockholm syndrome should not be the only way to get a degree.

The Cost of a Bad Advisor

Count the cost of a bad advisor. By the time a student gets to the thesis or dissertation “proposal to do research,” they have already paid 2-3 years of tuition, books and fees, and more expense looms ahead for an indefinite period of time. They have lived in places that may have been less than desirable. They have lost wages they could have had if they had not been geographically tied to the degree-granting university and unable to seek the best paying job elsewhere. They have lost 2-3 years of life when they could have been doing something more enjoyable and less costly in time and money, which is why graduate students become doormats for bad advisors. They are afraid their entire investment will be lost if they protest their treatment.

If your advisor has any one of the nine above described characteristics or others that are impeding your forward progress you need to seek help. It only takes one bad behavior on the part of an advisor to make your graduate experience a nightmare. There are several Websites that specialize in assisting students from the time they choose a research topic to the end of the oral defense, or contact the author of this article.

Manage Upward

People think of the word “manage” as downward actions people execute who are responsible for subordinates and programs. The key to surviving a bad advisor, or later, a bad boss, is to develop the skills to manage upward. Manage the manager.

Following are some tips for surviving a bad advisor.

1. Graduate school is professional school, and students should act like
the professionals they hope to be from the first day they set foot in the department. That means dressing well, keeping an appropriate social distance from members of the faculty, and keeping the majority of their personal life to themselves.

Students should choose an advisor as carefully as choosing a partner in life. The student should interview graduate students a year or two ahead in the program, or better, some who have graduated who had the same prospective advisor. Those who are still in the department may not want to say anything negative about their advisor because their own degrees might be threatened if negative remarks got back to their advisor. Some departments assign an advisor in an effort to level the work load, and the student has no choice. The bad advisors get the same number of students as everyone else, and they can hide in the numbers.

Before making a choice students should go to the library and find the last two or three theses or dissertations a prospective advisor has chaired and look at the format, the depth of the statistical analysis, the length of the review of literature, and the intensity of the detail. This should be done by every graduate student. Advisors tend to repeat themselves student after student.

2. If a student has an advisor with any one of the bad behaviors listed previously,
or another behavior that is delaying forward progress, the student should seek help immediately. Following are three Websites that specialize in assisting graduate students, or contact this author for a reference.

A. disseretationadvisors.com features consultants who have experience assisting students throughout the thesis or dissertation process including advisement about 1) choosing a research topic, and 2) writing the proposal to do research. In addition, consultants will edit all that the student writes. These consultants can also prepare the student for the defense.

B. apawriting.com lists consultants who are experts at applying the APA style
guide to theses, dissertations, journal articles, term papers, and other manuscripts that require the application of this highly specialized style. Consultants will correct citations, bibliographic references, figures and tables, as well as grammar, academic style, and word usage.

C. statisticstutors.com lists consultants who can, among many other things, 1)
develop testable hypotheses, 2) determine dependent and independent variables, 3) design surveys, 4) interpret results and formulate conclusions, and 5) verify the accuracy of your technical writing.

3. Manage upward. Keep an advisor informed constantly. Send him or her
emails on a regular basis, and keep it up the entire time the thesis or dissertation is in process. Advisors like to know students are working hard and should be impressed with your enthusiasm and dedication, real or not. When a deadline approaches, remind the advisor 4 weeks in advance, and again 2 weeks before the deadline occurs.

4. Put a box somewhere at home and keep every scrap of paper pertaining to your graduate degree program. In particular, keep a CD copy or a hard copy of every corrected manuscript the advisor hands back. Keep all emails from the advisor. These records are for the graduate Dean if needed.

5. Keep track of how many weeks or months of work have gone into the proposal
to do research, and the thesis or dissertation as a whole. The average thesis project beginning to end should not take more than one semester. The average dissertation should not take more than two semesters.

6. If your advisor assigns tasks that are outside the thesis or dissertation process, or are personal in nature, refuse politely. Students pay semester hours to work on their graduate degrees, and nothing else.

7. If your advisor fails to acquaint you with

1) the thesis or dissertation process, including deadlines,
2) the need for approval for use of human subjects and what committee makes those recommendations,
3) graduate school editorial requirements, or
4) any other organizational requirements that must be met before graduating, you should track down all the information. Then put it all in an email to your advisor asking for confirmation so it is on the record.

8. If your advisor delays handing a draft back because he or she was “too busy” to read it, and it forces you to register for another semester, send an email noting the additional expense of time and money, as well as the length of time the draft has not been returned. A reasonable amount of time for an advisor to hand work back is 2 weeks. When the draft does come back, if it has been more than 2 weeks, send an email to noting the number of days it has taken to return the work.

9. If your advisor riddles your work with hundreds of corrections, hire an editor to help. Never, ever, tell an advisor that an editor has been hired. Human nature will cause the advisor to find fault with the editor to prove his or her superiority. Instead, send the advisor a series of emails noting how much hard work you are doing, mention the major changes in the document, and note approaching deadlines. Note that the finest editor in the world cannot stop an advisor from making changes, but an editor can improve the professionalism and correctness of your work.

10. If your advisor only reads a few pages, then tells you to continue through the rest of the draft with similar corrections, send it back and tell the advisor the directions were not clear and to please clarify what changes should be made in the rest of the manuscript. It does no good to be a doormat and allow an advisor to behave badly. If your email is met with further comments about following his or her directions, or there is a long delay with no word from the advisor, call and make an appointment, then present all the pages that had no corrections on them and ask how you can improve them. At this point you may need to bring a tape recorder to your meetings with your advisor.

11. If you reach the point where you are certain your advisor is not acting in your best interests, gather all your evidence together and go see the Editor or an assistant Dean of the graduate school. In writing, request a change of advisor. In all probability, your request will be denied, but you will have activated the chain of command. Someone from the graduate Dean’s office will call either the Dean of the college where you are a student, or the department head, and ask about the complaint. That person will then call your advisor and ask for comment. Good graduate Deans will monitor your progress.

If you have been polite and professional from the first day of work with your advisor, you have nothing to fear. If your department head believes that there can be no amicable resolution to the problem, he or she can appoint one of the members of your committee to the role of advisor. Remember that there are inner-departmental rivalries and friendships among faculty that you know nothing about, and you may step into fresh trouble. However, the graduate Dean will be monitoring the problem, and you can return to that office again if the situation does not improve.

A Special Note about Online Institutions

Problems with advisors at online institutions are extremely difficult to manage. Advisors commonly work for online institutions on a part-time basis. In fact, many online institutions require an advisor to have a full-time job elsewhere. Many such institutions are more interested in obtaining continuing semester tuition than they are in graduating students. There are no checks and balances in online institutions to help a student in trouble with an advisor. Nevertheless, a good editor can help students present a more professional and thorough thesis or dissertation that is technically perfect, which often solves some of the problem.

Summary

This short article cannot encompass all the troubles that can occur between a graduate student and a bad advisor, nor can the writer anticipate what might be the best course of action in a given situation. The best advice for a student is to hire a professional editor who deals with graduate students on a regular basis, has sat on graduate committees, and can help make the best of a bad situation.

The Most Popular Marketing Proposals From the Senior Management Advisors

Marketing is in the middle of a revolution. It is not for the first time and perhaps not the last, but since recent paths of communication have created opportunities for interacting that no one knew before, with existing potential customers, experts in the area confess that a lot of crucial advancements are in full swing. The people who can go with the change might get benefited tremendously as their products and brands break through the usual pattern of the recent market, those who don’t take much interest are at the risk of being drown out on the whole. A lot of important speakers and marketing advisors dispute that we are about to observe a major rearrangement in the variety of industries as they struggle, with unreliable accomplishment, in order to make the most of their new surroundings.

Some of these new techniques have already become something of a necessity in marketing strategies of companies; others are on the way to get exactly there. And the one that is already considered as making no sense is the social media. Which self-respecting company does not have a profile on Twitter, Facebook or a channel on YouTube? The reason that online communities move between various social networks occupying their internet space for the day, reaching out to its enthusiastic participants by organizing competitions, contests, coupons and other brand building tactics, is a successful marketing procedure. Going by a comparatively humble investment, companies can start a conversion that can earn them numerous followers and brand promoters. As social networks develop, there might be even more opportunity in the future.

The introduction of affordable, internet enabled tools that are discovered while you are o the move. Smartphone, tablets and other held devices with online access enables it to consume available media in unusual ways and arrangements, which the management and marketing advisors argue about. As they become more popular, users ask for more functionality, therefore an eager audience for the company awaits to launch applications and solutions that make life simpler, more exciting and more fun.

Geo-targeting is another keyword that provides the foundation for local marketing. Its arrival has been announced for some time now and we have never been closer to its full realization. Services like Group on are the first generation that may be still strongly changed by the mobile applications that come with GPS support. Another tool that can be considered as the part of the trend is the local review sites.

As the web increasingly becomes the key ground of the rivalry between brands and producers, companies will have to invest more and more in strategic online reputation management. This means establishing an active, versatile presence on the web, from blogs to social networks to YouTube and other popular services, but also monitoring interactions and conversations for possible negative impacts, marketing and management consulting companies predict. Marketers have a huge challenge ahead of them of holding the full effort as one and trying to make it more useful than its individual parts and also keeping away the bad blood by all means possible.