Trending
1. Why Advisors Should up Focus on Single Women
In bygone eras of the advisory business, it was reasonable for an advisor to expect that a female client fit into the following groups over the course of her life: not the primary breadwinner in a household, potentially a homemaker and then a widow largely dependent on assets left to her by her husband. — Todd Shriber
2. Client Expectations: Desires and Demands from Financial Professionals
Most Americans who are currently interested in working with a financial professional said they want to collaborate on a strategy and don’t want to give up control. More than half (57%) said they would prefer that a financial professional propose solutions, but they would ultimately make most or all of their financial decisions. And, 25% said they are more likely to work with a professional who views their relationship as a partnership or consultation. Americans want to drive the direction of the services provided. — Allianz
3. The Federal Reserve's Actions During Election Years
With monetary policy still at the forefront of the macro landscape in 2024, investors are left wondering how the election might influence Fed policymakers. Historically, the Fed doesn’t sit on the sidelines during election years, but rather continues to pursue its dual mandate of price stability and maximum employment, while maintaining its independence from politics. — Meera Pandit
4. The Democratization of Financial Wealth in Two Decades
Imagine that in two decades, financial wealth will be in the hands of more people. Well, you don’t need to. Because a new report tells us that millennials are on the cusp of becoming the richest generation in history. This $90 trillion transfer to millennials over the next twenty years is a monumental shift in economic power and responsibility. — Ayelet Baron
5. Unlocking Organic Growth: Six Essential Keys for Advisory Practices
As we approach NCAA college basketball’s March Madness tournament, a common refrain is “survive and advance.” Teams just want to win the next game so that they get one step closer to the championship. This idea may work for one year’s title run, but it may not be sustainable for the long term, and it certainly doesn’t work if you are trying to run a successful advisory business. — Ben Rizzuto and Bryan Powell
6. The Secret to Financial Happiness for Americans
What’s the secret to Financial Happiness? To most Americans, it’s more than net worth. Empower’s new research explores the state of happiness in life, work, and play to find out what it really takes — the experiences, the Money Talks, the planning and investments — to be financially happy in your working years and beyond. — Empower
7. Will Artificial Intelligence Replace Financial Advisors?
I have been using ChatGPT since the very first day it was released to the public: November 30, 2022. At the time, I said that financial advisors who use artificial intelligence will run laps around financial advisors who don’t. And yet… more than a year later, most financial advisors didn’t listen and still aren’t using ChatGPT. Why? — James Pollard
8. Bougie Broke: The Financial Reality Behind the Facade
Social media users claiming to be Bougie Broke share pictures of their fancy cars, high-fashion clothing, and selfies in exotic locations and expensive restaurants. Yet they complain about living paycheck to paycheck and lacking the means to support their lifestyle. — Michael Lebowitz
9. Five Charitable Planning Ideas To Share During Tax Season
Are your clients reflecting on their 2023 income tax returns and considering what they might have done differently to lower their taxes? Tax season is an ideal time to talk with them about charitable giving, tax strategies, and overall financial planning for 2024. To help you start the philanthropic conversation, we summarize the 2024 giving environment and pair five client situations with five giving strategies so you can see if the strategies might work for your clients. — Caleb Lund and Hayden Adams
10. Navigating Free Advice: Strategies to Eliminate the 'R'
Traditionally the financial services sector has been almost entirely remunerated via commission, and many advisers are still grappling with the basic question of how to make the transition – even if only in their minds – from working solely on commissions to charging clients directly for advice and/or service. — Tony Vidler
11. How Is Your Firm Working to Span Generations?
Most advisory firms are focused so much on scale and simplification that they cannot scale impact for clients who are having a truly multigenerational moment. Unfortunately, most ‘saved time’ often winds up being used to figure out more ways to scale and simplify instead of enhancing the depth of the firm’s communication. Instead of trying to figure out how to serve a family client with greater depth, we wind up focusing on finding more families to serve. — Jud Mackrill