The following are hypothetical examples of statements of overconfidence, excessive humility, and confident humility by financial advisors. As you read them, examine how you would react if any were said to you.
You won’t catch a fish unless your line is in the water, and you won’t benefit from the market’s potential move higher unless you are invested.
Where I teach, there is a program designed for people who get into management roles but have never been given the skills to manage effectively. It’s common across industries.
I think I have all the information I need to provide a view that others can confidently rely on, whether personal or professional advice. There’s just one problem: I’m often wrong. Why is that?
Reengineering processes through automation, streamlining, and delegation enables financial advisors to provide greater value while spending more quality time with clients.
These steps should help you share what’s important to the team with your senior advisor so he recognizes your point of view, and help you uncover what’s meaningful to someone considering joining you, as well as allow your senior advisor to be open about his objectives.
While baby boomers can be slower to embrace technology, younger investors tend to seek out and prefer tech-focused services and providers. This preference for technology is something advisors should lean into to connect with younger generations of investors.
Humans are wired for "self-focus," but shifting to "other-focus" can help advisors build better relationships with clients.
Members of successful teams generally get along with each other. Bev Flaxington offers some insights on how to cement those relationships.
Tech adoption by advisors can improve client relationships, but they need to find the right tools.
Consistent communication through market events is vital for advisors concerned about client retention.
RIAs should consider becoming more like VC firms by adopting the principles that govern them.
Questioning leads to closing. A number of the advisors I work with are pretty good at engaging, asking questions and caring about the answers. However, they are really uncomfortable with the close. I promised you I wouldn’t give you coaching on “closing,” so I won’t.
The "ideal life" is a harmful myth that can distort perceptions of success and happiness. By recognizing different values and goals, you can foster a more inclusive – and realistic – understanding of what it means to lead a fulfilling life.
Most advisors grow by referral and word of mouth. But what happens when your clients stop talking about you? Here are three ways to start marketing.
When done effectively, your outsourced team of professionals can help improve efficiencies, increase productivity, and scale profitably – all while giving you the freedom to focus on what you’re most passionate about.
Digital assets are emerging as a crucial subset of alternative investments, and their integration into wealth management portfolios is inevitable.
Determining your client’s risk tolerance is a critical first step in constructing a tailored investment portfolio.
I often hear my clients talk about the struggles with the next generation and how hard it is to work with them. Here are some of my best tips for how to lead the next generation (or potentially any generation that needs a little boost).
I have developed a seven-step framework that has been used countless times to assist advisors looking to build a $1 million, 100-days-off practice, as well as help leaders of seven-figure firms scale their success to new heights.
My father is 86 and the topic of financial markets and his investment accounts invariably comes up at every family gathering. Mainly, he talks about how my mother and he have lived from their retirement accounts since they both retired more than 25 years ago.
This article will explore how to increase your AUM by capturing assets in trusts and DAFs, explain the difference between directed and traditional trustees, and discuss why designating a directed trustee and an advisor-friendly DAF is in the client’s best interest.
It is more common that teammates really enjoy the people they work with and have one another’s backs, but they don’t particularly want to give up personal time to spend more with workmates.
Unbundling services and offering them à la carte could appeal to clients who want more control over their financial management. This approach allows clients to tailor the services they receive to their unique needs and preferences.
For registered investment advisors and others who provide financial advice, autumn is the start of a season loaded with opportunity.
Earned media acts as a third-party stamp of approval for your firm, generating more referrals while boosting existing referrals.
Storytelling allows you to describe what you do, and whom you do it for, in a way that is transferrable and understandable.
By aligning your event format with the brain’s natural tendencies, you can create more engaging, effective, and enjoyable experiences for your audience.
Expanding outreach to include a well-orchestrated digital lead generation strategy is the most effective and efficient way to grow a client roster and help new generations navigate the Great Wealth Transfer with optimal financial strategies.
With the advent of artificial intelligence (AI) in financial services, the pressure to move away from the AUM model is mounting. Has the time come for you to rethink your approach to compensation?
Taxes may be the biggest fee your tax-sensitive clients are paying on their investment portfolios. And neither they nor you, their advisor, may be aware of just how big that fee is.
If you select appropriate colors that are most appealing to your target market, you’ll have an influential edge over your uninformed competitors.
What is your personal financial code of conduct? Whether you’re consciously aware of it or not, chances are you have an internal set of standards and taboos that guide the way you handle money.
Aligning a client’s values with their financial decisions is often touted as a best practice for financial advisors. It’s time to reexamine that premise.
Here’s a quote attributed to P. J. O’Rourke, an American author, journalist and political satirist: “There is a simple rule here, a rule of legislation, a rule of business, a rule of life: beyond a certain point, complexity is fraud.”
Using infographics to illustrate your firm’s financial planning process is a great way to show the value you provide. Whether in your marketing materials, initial consultations, or new client onboarding, these visuals can help set the stage for a successful and growing relationship.
Successful advisors are persuasive. They understand persuasion is critical to converting prospects into clients and keeping them as clients.
As I write this, gold continues to trade above $2,500 an ounce after surging past the psychologically important level for the first time ever in mid-August. For seasoned gold mining investors, this should be a moment of validation. After all, the yellow metal has long been seen as the ultimate hedge against economic uncertainty.
By incorporating these practical suggestions into your meetings, you can effectively leverage the power of likability and high-quality evidence to build trust and increase your assets under management.
Over nearly three decades, I’ve been dedicated to the sport of running. For the last five years, I chased the elusive goal of qualifying for the Boston Marathon, my ultimate aspiration. It wasn’t until I sought the expertise of a professional coach that I finally achieved this dream.
When feedback is done well, it can be the greatest gift you give to someone.
Having the best referral in the world doesn’t convert a prospect. It’s your website that seals the deal, not only for referrals but for organic prospects as well.
Many financial advisors exhibit a risk-averse attitude, leading to missed opportunities for growth and innovation.
Advisors are offering customized holistic wealth management to their clients and their families to help ensure an orderly transition of wealth
It is overly optimistic to think people will simply change if they don’t see and understand the hurtful nature of what they are doing.
Here are some lessons from interviewing financial advisors and insights into the traits that lead to a recommendation.
I can't let this month pass without noting a significant anniversary: This is the 25th year I’ve been writing Thoughts from the Frontline. You can visit the archive and see every issue since January 2001.
The ability of AI to demonstrate empathy holds great promise for enhancing user interactions and support services. However, its current limitations highlight the irreplaceable value of human empathy.
Savvy advisors that blend classic prospecting methods with modern tech are not only reviving successful strategies from the past but are also setting the stage for sustainable future growth.
It’s hard to work daily with and for someone who clearly doesn’t like you or want you to succeed.
When dealing with millennials and often with more seasoned investors, it’s important to understand their barriers to acceptance of a boring approach to investing.
Here’s how to conduct yourself as an advisor if you want to demonstrate that you care about your clients.
Whether the discussion is about training, coaching, or consulting on roles and responsibilities, the topic of behavioral style – that is, sameness and differences – often gets missed.
Financial advisors are increasingly turning to social media platforms to expand their client base. But in today’s rapidly evolving digital landscape, the traditional marketing funnel model – comprising awareness, engagement, and conversion stages – often falls short when applied to these platforms.
If you’re finding referrals aren’t as plentiful or as easy to activate as they used to be, it’s time to ask yourself: is concentrating on referral hunting really worth your time?
It’s taboo in many cultures to admit you might want to have a life outside of your work, so a lot of people keep it to themselves because they don’t want to be seen as weak, or uncommitted.
The myth of work-life balance has perpetuated unrealistic expectations and unnecessary stress. By recognizing the fluidity of life and embracing a more flexible approach, you can find greater fulfillment and mental well-being.
Leveraging essential tools will energize teams, streamline operations, and drive growth. Financial advisors should actively promote education, training, networking, and personal development to foster a net wealth-supporting environment.
I have been looking forward to writing this blog for a long time. I joined Russell Investments on July 12, 2004 and now that it is my 20th anniversary, I feel it’s the right moment to share some of what I have learned along the way.
The economy is off to a strong start in 2024, with a strong employment picture and the Dow Jones Industrial Average crossing 40,000 for the first time. But even with those tailwinds, questions about the economy and the markets remain as we head into the second half of 2024.
A strategic alignment within the workplace is an opportunity for financial advisors, employers and retirement savers seeking financial planning advice. See Kevin Murphy’s views on emerging trends in workplace savings.
With so much uncertainty in the political landscape, investors may be nervous — and they may be reluctant to remain in the market. This is why an advisor's role as a behavioral coach is so important.
Trust is a precious commodity and the importance of authenticity cannot be overstated. Whether in healthcare, education, or business, being genuine and transparent is essential for building strong, lasting relationships. However, nowhere is this truer than in the financial advisory industry.
I love questions like this one – the chance to think creatively and brainstorm “what could be” without the stress of having to do something right now. I have some suggestions to start thinking about what you could do when you have more latitude and less financial responsibility.
AI and automation will revolutionize the financial advisory industry. These technologies enhance efficiency, improve client communication, and enable data-driven decision-making. By 2035, AI will be integral to most advisory firms.
As RIAs and broker-dealers consider how to allocate future spending, they would be wise to recognize how technology designed to support fee-for-service financial planning can help them meet their most immediate goals while also allowing them to grow and nurture next-generation wealth management clients.
Implementing the net wealth mindset in practice involves developing detailed financial plans that align with each client's needs and priorities, and crafting a client-centered service model.
Financial advisors can future-proof their businesses and maintain their relevance in an increasingly tech-driven world by combining human expertise with AI’s efficiency and analytical prowess.
The years-long parade of freedom-seeking advisors out of the wirehouses continues unabated. Meanwhile, consolidation of RIA firms, driven by private equity’s hot money, has similar momentum. Are these trends on a collision course?
How safe is your IRA? Not from economic ups and downs, but from your own vulnerability to scammers? While financial scams are often perceived as targeting senior citizens, younger generations are equally susceptible.
Financial advisors get a bad rap. Some deserve it; most don’t. The problem for the entire investment advisory and portfolio management community stems from the “career risk” they inevitably face.
Tesla Inc. is expected to report another quarter of weaker sales, and it’s running out of alibis.
Goldman Sachs recently upped its price target to S&P 6300 for the end of this year, along with Evercore ISI upping its year-end target to 6000. Such is not surprising given the strong run in the markets this year.
The US trucking market, which has been in recession for more than a year now, is poised to recover … at some unknowable point in the future.
Investors often ignore geopolitics, usually to their benefit. Now might be one of those times when we should pay attention. In the past few weeks, hostilities between East and West have accelerated. It’s a worrisome trend.
No coach is going to be able to work well with your team unless you are very clear about expected outcomes. What will success look like in working with the coach?
Traders in the US rates options market are embracing a nascent wager on the Federal Reserve’s interest-rate path: a whopping 3 percentage points worth of cuts in the next nine months.
I have long admired Jonathan Clements. His columns in The Wall Street Journal introduced me to index-based investing. I was deeply saddened to read his column in HumbleDollar, dated June 15, 2024, that, at age 61, he has been diagnosed with lung cancer that has metastasized to his brain and “a few other spots.”
This article will outline the key steps and best practices financial advisors should take to become trusted advisors in the realm of cybersecurity.
Financial markets have posed a number of vexing questions to investors over the past two years, not the least of which included the height to which interest rates could rise without negatively impacting US economic activity.
The latest consumer survey data from the New York Federal Reserve had interesting data.
This summer, countless bankers and financiers will get away to the Hamptons or vacation in Europe. And a handful will be traveling nearly every weekend — to play lacrosse.
Dell Technologies Inc. shares rose on Thursday after Chief Executive Officer Michael Dell said the company is building a “Dell AI factory” for Elon Musk’s startup xAI alongside Nvidia Corp.
This week’s column is devoted to brushing up on what you know you need to do well — and making sure you are actually doing it!
Understanding how to act ethically and appropriately as an advisor is apparently no easy task.
In this article, I will discuss what compliance officers do and the various factors advisors should consider in determining who should serve as their CCO.
You can’t sell the negative. Clients will vent negatives, but won’t buy them. You need to turn negatives into positives. Redirect Moving Away comments into Moving Toward Goals.
This third and final part of this series focuses on alternative energy sources, utility companies, and other companies related to the power grid infrastructure.
Traders are lavishing billions of dollars on quant-powered stock trades, boosting an investing style that’s struggled to gain traction in an era when simple bets on traditional large-cap indexes have paid off handsomely.
GMO’s Small Cap Quality portfolio managers, Hassan Chowdhry and James Mendelson, discussed why small cap valuations are attractive today and why they believe using quality is a better way of investing in the asset class.
Breakaway Brokers
Balance Confidence and Humility
The following are hypothetical examples of statements of overconfidence, excessive humility, and confident humility by financial advisors. As you read them, examine how you would react if any were said to you.
When Fishing or Investing, Patience Is Key
You won’t catch a fish unless your line is in the water, and you won’t benefit from the market’s potential move higher unless you are invested.
Managing Your Management and Quashing Cliques
Where I teach, there is a program designed for people who get into management roles but have never been given the skills to manage effectively. It’s common across industries.
The Peril of Relying on Incomplete Information
I think I have all the information I need to provide a view that others can confidently rely on, whether personal or professional advice. There’s just one problem: I’m often wrong. Why is that?
Why and How You Should Improve Your Practice’s Efficiency
Reengineering processes through automation, streamlining, and delegation enables financial advisors to provide greater value while spending more quality time with clients.
Don’t Assume Your Standards Can’t Be Improved
These steps should help you share what’s important to the team with your senior advisor so he recognizes your point of view, and help you uncover what’s meaningful to someone considering joining you, as well as allow your senior advisor to be open about his objectives.
How Financial Advisors Can Target the Next-Gen Recipients of Generational Wealth
While baby boomers can be slower to embrace technology, younger investors tend to seek out and prefer tech-focused services and providers. This preference for technology is something advisors should lean into to connect with younger generations of investors.
Why It’s Difficult to Focus on Others
Humans are wired for "self-focus," but shifting to "other-focus" can help advisors build better relationships with clients.
Close the Liking Gap
Members of successful teams generally get along with each other. Bev Flaxington offers some insights on how to cement those relationships.
What Advisors Need From Tech in 2025
Tech adoption by advisors can improve client relationships, but they need to find the right tools.
Thinking Long Term, Communicating Short Term
Consistent communication through market events is vital for advisors concerned about client retention.
Think Fast: How RIAs Can Make Decisions at the Speed of Venture Capital
RIAs should consider becoming more like VC firms by adopting the principles that govern them.
Why Questioning Leads to Closing
Questioning leads to closing. A number of the advisors I work with are pretty good at engaging, asking questions and caring about the answers. However, they are really uncomfortable with the close. I promised you I wouldn’t give you coaching on “closing,” so I won’t.
The "Ideal" Life is a Harmful Myth
The "ideal life" is a harmful myth that can distort perceptions of success and happiness. By recognizing different values and goals, you can foster a more inclusive – and realistic – understanding of what it means to lead a fulfilling life.
How to Start Marketing (if You Never Have Before)
Most advisors grow by referral and word of mouth. But what happens when your clients stop talking about you? Here are three ways to start marketing.
Who Belongs on Your Advisory Firm’s Dream Team?
When done effectively, your outsourced team of professionals can help improve efficiencies, increase productivity, and scale profitably – all while giving you the freedom to focus on what you’re most passionate about.
Digital Assets' Growing Role in Wealth Management
Digital assets are emerging as a crucial subset of alternative investments, and their integration into wealth management portfolios is inevitable.
Your Clients Are Clueless About Their Risk Tolerance
Determining your client’s risk tolerance is a critical first step in constructing a tailored investment portfolio.
Action-Oriented Leadership Strategies
I often hear my clients talk about the struggles with the next generation and how hard it is to work with them. Here are some of my best tips for how to lead the next generation (or potentially any generation that needs a little boost).
Building a $1 Million, 100-Days-Off Practice With a Proven 7-Step Framework
I have developed a seven-step framework that has been used countless times to assist advisors looking to build a $1 million, 100-days-off practice, as well as help leaders of seven-figure firms scale their success to new heights.
The Language of Clients: It’s Different From Yours
My father is 86 and the topic of financial markets and his investment accounts invariably comes up at every family gathering. Mainly, he talks about how my mother and he have lived from their retirement accounts since they both retired more than 25 years ago.
An Untapped Gold Mine of Assets You Can Manage
This article will explore how to increase your AUM by capturing assets in trusts and DAFs, explain the difference between directed and traditional trustees, and discuss why designating a directed trustee and an advisor-friendly DAF is in the client’s best interest.
When There’s Too Much Togetherness
It is more common that teammates really enjoy the people they work with and have one another’s backs, but they don’t particularly want to give up personal time to spend more with workmates.
What If Your Prospect Doesn’t Want Comprehensive Wealth Management?
Unbundling services and offering them à la carte could appeal to clients who want more control over their financial management. This approach allows clients to tailor the services they receive to their unique needs and preferences.
Registered Investment Advisors - Turning Autumn Into Assets: Strategies for October’s Bounty
For registered investment advisors and others who provide financial advice, autumn is the start of a season loaded with opportunity.
How to Leverage Earned Media for More Referrals
Earned media acts as a third-party stamp of approval for your firm, generating more referrals while boosting existing referrals.
Tell a Story for Organic Growth
Storytelling allows you to describe what you do, and whom you do it for, in a way that is transferrable and understandable.
Speaking is Killing Your Webinars and Live Events
By aligning your event format with the brain’s natural tendencies, you can create more engaging, effective, and enjoyable experiences for your audience.
The Great Wealth Transfer: Five Tips for RIAs to Attract New Clients
Expanding outreach to include a well-orchestrated digital lead generation strategy is the most effective and efficient way to grow a client roster and help new generations navigate the Great Wealth Transfer with optimal financial strategies.
Are You Ready to Embrace the End of AUM-Based Fees?
With the advent of artificial intelligence (AI) in financial services, the pressure to move away from the AUM model is mounting. Has the time come for you to rethink your approach to compensation?
Value of an Advisor: T Is for Tax-Smart Planning and Investing
Taxes may be the biggest fee your tax-sensitive clients are paying on their investment portfolios. And neither they nor you, their advisor, may be aware of just how big that fee is.
These Six Influential Colors Can Make or Break Your Business
If you select appropriate colors that are most appealing to your target market, you’ll have an influential edge over your uninformed competitors.
How Your Money Code of Conduct Shapes Your Financial Success
What is your personal financial code of conduct? Whether you’re consciously aware of it or not, chances are you have an internal set of standards and taboos that guide the way you handle money.
Aligning Values With Money Isn’t Your Job
Aligning a client’s values with their financial decisions is often touted as a best practice for financial advisors. It’s time to reexamine that premise.
It's Increasingly Difficult to Defend Your Complex Portfolios
Here’s a quote attributed to P. J. O’Rourke, an American author, journalist and political satirist: “There is a simple rule here, a rule of legislation, a rule of business, a rule of life: beyond a certain point, complexity is fraud.”
Showcase Your Value With Financial Planning Process Infographics
Using infographics to illustrate your firm’s financial planning process is a great way to show the value you provide. Whether in your marketing materials, initial consultations, or new client onboarding, these visuals can help set the stage for a successful and growing relationship.
Evidence-Based Persuasion Secrets
Successful advisors are persuasive. They understand persuasion is critical to converting prospects into clients and keeping them as clients.
Why Gold Stocks Could Be a Contrarian Investor’s Dream Right Now
As I write this, gold continues to trade above $2,500 an ounce after surging past the psychologically important level for the first time ever in mid-August. For seasoned gold mining investors, this should be a moment of validation. After all, the yellow metal has long been seen as the ultimate hedge against economic uncertainty.
Unlock Massive AUM: The Secret Beyond Numbers
By incorporating these practical suggestions into your meetings, you can effectively leverage the power of likability and high-quality evidence to build trust and increase your assets under management.
Why Use Model Portfolios? So Advisors Can Focus on What Matters Most
Over nearly three decades, I’ve been dedicated to the sport of running. For the last five years, I chased the elusive goal of qualifying for the Boston Marathon, my ultimate aspiration. It wasn’t until I sought the expertise of a professional coach that I finally achieved this dream.
Feedback Matters – and So Does the Delivery!
When feedback is done well, it can be the greatest gift you give to someone.
The Three Things Your Website Needs to Convert Referrals
Having the best referral in the world doesn’t convert a prospect. It’s your website that seals the deal, not only for referrals but for organic prospects as well.
Transform Risk Into Opportunity
Many financial advisors exhibit a risk-averse attitude, leading to missed opportunities for growth and innovation.
Value of an Advisor: C is for Customized Experience and Family Wealth Planning
Advisors are offering customized holistic wealth management to their clients and their families to help ensure an orderly transition of wealth
Clear Communications Vital to Overcoming Obstacles
It is overly optimistic to think people will simply change if they don’t see and understand the hurtful nature of what they are doing.
Lessons Learned From Referring Business to Advisors
Here are some lessons from interviewing financial advisors and insights into the traits that lead to a recommendation.
25 Years and Counting
I can't let this month pass without noting a significant anniversary: This is the 25th year I’ve been writing Thoughts from the Frontline. You can visit the archive and see every issue since January 2001.
AI Can Be Empathic, But Here’s Why It Won’t Replace You... Yet!
The ability of AI to demonstrate empathy holds great promise for enhancing user interactions and support services. However, its current limitations highlight the irreplaceable value of human empathy.
Classic Rewind: How RIA Prospecting Tactics From the Past Are Making a Comeback
Savvy advisors that blend classic prospecting methods with modern tech are not only reviving successful strategies from the past but are also setting the stage for sustainable future growth.
Navigating Differences in Personality Types
It’s hard to work daily with and for someone who clearly doesn’t like you or want you to succeed.
We Need to Make “Boring” Cool
When dealing with millennials and often with more seasoned investors, it’s important to understand their barriers to acceptance of a boring approach to investing.
“Caring” is Often a Cover for “Transactional”
Here’s how to conduct yourself as an advisor if you want to demonstrate that you care about your clients.
Why “Behavioral Style” Matters in the Workplace
Whether the discussion is about training, coaching, or consulting on roles and responsibilities, the topic of behavioral style – that is, sameness and differences – often gets missed.
Six Reasons to Shift from Traditional Marketing Funnels, and What to Do Instead
Financial advisors are increasingly turning to social media platforms to expand their client base. But in today’s rapidly evolving digital landscape, the traditional marketing funnel model – comprising awareness, engagement, and conversion stages – often falls short when applied to these platforms.
How’s Your Referral Hunt Going?
If you’re finding referrals aren’t as plentiful or as easy to activate as they used to be, it’s time to ask yourself: is concentrating on referral hunting really worth your time?
The Sacrifices People Make to Be in This Industry
It’s taboo in many cultures to admit you might want to have a life outside of your work, so a lot of people keep it to themselves because they don’t want to be seen as weak, or uncommitted.
Work-Life Balance is a Harmful Myth
The myth of work-life balance has perpetuated unrealistic expectations and unnecessary stress. By recognizing the fluidity of life and embracing a more flexible approach, you can find greater fulfillment and mental well-being.
The Power of Employee Investment and Net Wealth Mindset
Leveraging essential tools will energize teams, streamline operations, and drive growth. Financial advisors should actively promote education, training, networking, and personal development to foster a net wealth-supporting environment.
GRATEFUL for the Past 20 Years
I have been looking forward to writing this blog for a long time. I joined Russell Investments on July 12, 2004 and now that it is my 20th anniversary, I feel it’s the right moment to share some of what I have learned along the way.
Midyear Outlook '24: Eyes on the Prize
The economy is off to a strong start in 2024, with a strong employment picture and the Dow Jones Industrial Average crossing 40,000 for the first time. But even with those tailwinds, questions about the economy and the markets remain as we head into the second half of 2024.
Workplace to Wealth: Transforming Retirement Through Meaningful Action
A strategic alignment within the workplace is an opportunity for financial advisors, employers and retirement savers seeking financial planning advice. See Kevin Murphy’s views on emerging trends in workplace savings.
Value of an Advisor: B Is for Behavioral Coaching
With so much uncertainty in the political landscape, investors may be nervous — and they may be reluctant to remain in the market. This is why an advisor's role as a behavioral coach is so important.
The Importance Of Authenticity In Financial Advising
Trust is a precious commodity and the importance of authenticity cannot be overstated. Whether in healthcare, education, or business, being genuine and transparent is essential for building strong, lasting relationships. However, nowhere is this truer than in the financial advisory industry.
How to Prepare for Your Career’s Second Act
I love questions like this one – the chance to think creatively and brainstorm “what could be” without the stress of having to do something right now. I have some suggestions to start thinking about what you could do when you have more latitude and less financial responsibility.
What Your Advisory Firm Will Look Like in 2035 (If It Still Exists)
AI and automation will revolutionize the financial advisory industry. These technologies enhance efficiency, improve client communication, and enable data-driven decision-making. By 2035, AI will be integral to most advisory firms.
Fee-for-Service Financial Tools Can Help Advisory Firms Meet a Variety of Critical Growth Goals
As RIAs and broker-dealers consider how to allocate future spending, they would be wise to recognize how technology designed to support fee-for-service financial planning can help them meet their most immediate goals while also allowing them to grow and nurture next-generation wealth management clients.
Boosting Your Advisory Business With a ‘Net Wealth’ Mindset
Implementing the net wealth mindset in practice involves developing detailed financial plans that align with each client's needs and priorities, and crafting a client-centered service model.
The Benefits of Overcoming Your Denial Of AI
Financial advisors can future-proof their businesses and maintain their relevance in an increasingly tech-driven world by combining human expertise with AI’s efficiency and analytical prowess.
Wirehouses and RIAs—Will They Meet in the Middle?
The years-long parade of freedom-seeking advisors out of the wirehouses continues unabated. Meanwhile, consolidation of RIA firms, driven by private equity’s hot money, has similar momentum. Are these trends on a collision course?
Protect Yourself and Your IRA From Scams
How safe is your IRA? Not from economic ups and downs, but from your own vulnerability to scammers? While financial scams are often perceived as targeting senior citizens, younger generations are equally susceptible.
Career Risk Traps Advisors Into Taking On Excess Risk
Financial advisors get a bad rap. Some deserve it; most don’t. The problem for the entire investment advisory and portfolio management community stems from the “career risk” they inevitably face.
Tesla Is Running Out of Excuses for Its Prolonged Sales Slump
Tesla Inc. is expected to report another quarter of weaker sales, and it’s running out of alibis.
S&P 6300? Is That Outside The Realm Of Possibility?
Goldman Sachs recently upped its price target to S&P 6300 for the end of this year, along with Evercore ISI upping its year-end target to 6000. Such is not surprising given the strong run in the markets this year.
A Trucking Rebound Is Near. For Real This Time.
The US trucking market, which has been in recession for more than a year now, is poised to recover … at some unknowable point in the future.
Get Ready for Resiliency-Driven Inflation
Investors often ignore geopolitics, usually to their benefit. Now might be one of those times when we should pay attention. In the past few weeks, hostilities between East and West have accelerated. It’s a worrisome trend.
How to Maximize the Benefits of a Coach
No coach is going to be able to work well with your team unless you are very clear about expected outcomes. What will success look like in working with the coach?
Bond Traders Boldly Bet on 300 Basis Points of Fed Cuts by March
Traders in the US rates options market are embracing a nascent wager on the Federal Reserve’s interest-rate path: a whopping 3 percentage points worth of cuts in the next nine months.
If I Only Had 12 Months to Live
I have long admired Jonathan Clements. His columns in The Wall Street Journal introduced me to index-based investing. I was deeply saddened to read his column in HumbleDollar, dated June 15, 2024, that, at age 61, he has been diagnosed with lung cancer that has metastasized to his brain and “a few other spots.”
Cybersecurity Guidance for Financial Advisors
This article will outline the key steps and best practices financial advisors should take to become trusted advisors in the realm of cybersecurity.
CIM Market Commentary: Cue the Great Moderation
Financial markets have posed a number of vexing questions to investors over the past two years, not the least of which included the height to which interest rates could rise without negatively impacting US economic activity.
Consumer Survey Shows Rising Bullishness
The latest consumer survey data from the New York Federal Reserve had interesting data.
Wall Street Bankers Skip Hamptons Summer for Pro Lacrosse League
This summer, countless bankers and financiers will get away to the Hamptons or vacation in Europe. And a handful will be traveling nearly every weekend — to play lacrosse.
Dell, Super Micro Shares Jump on Reports of ‘AI Factory’ for Elon Musk’s xAI
Dell Technologies Inc. shares rose on Thursday after Chief Executive Officer Michael Dell said the company is building a “Dell AI factory” for Elon Musk’s startup xAI alongside Nvidia Corp.
Sometimes Advisors Just Can’t Win
This week’s column is devoted to brushing up on what you know you need to do well — and making sure you are actually doing it!
Agonizing over “Fiduciary”
Understanding how to act ethically and appropriately as an advisor is apparently no easy task.
Selecting a Chief Compliance Officer for Your Advisory Firm
In this article, I will discuss what compliance officers do and the various factors advisors should consider in determining who should serve as their CCO.
Never Sell the Negative
You can’t sell the negative. Clients will vent negatives, but won’t buy them. You need to turn negatives into positives. Redirect Moving Away comments into Moving Toward Goals.
Investment Ideas For The Coming Power Grid Expansion- Part Three
This third and final part of this series focuses on alternative energy sources, utility companies, and other companies related to the power grid infrastructure.
Retail Funds Dive Into Quant-Factor ETFs After $48 Billion Haul
Traders are lavishing billions of dollars on quant-powered stock trades, boosting an investing style that’s struggled to gain traction in an era when simple bets on traditional large-cap indexes have paid off handsomely.
The Quality Advantage in Small Cap Stocks
GMO’s Small Cap Quality portfolio managers, Hassan Chowdhry and James Mendelson, discussed why small cap valuations are attractive today and why they believe using quality is a better way of investing in the asset class.