How AI reduced the need for a virtual assistant: Show Me Your Stack
Gabriel Kaplan of Wealth Habits used to give his virtual assistant around 20 hours per month of work. AI tools in his tech stack have greatly reduced that amount.
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The pandemic changed where financial advisors live. Here's how
Conventional wisdom says that financial advisors choose to work in areas based on factors like the presence of wealthy families. That doesn't seem to be the case in a post-pandemic world.
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Is scale a necessary evil in wealth management?
In a consolidating industry, perpetual growth may seem like the only way forward, but financial advisors still have options.
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CFP Board fast-tracks bankruptcy, misdemeanor review for applicants
The new rules, set to take effect May 23, will allow CFP applicants to forgo a more intensive review process in certain circumstances.
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Behind brokers' ardent pushback on FINRA's side-hustle proposal
Industry groups argue a new rule under consideration would give brokerage firms new oversight responsibilities over unaffiliated RIAs — a contention FINRA denies.
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Fifth Third offers wills to its customers, free of charge
The Cincinnati-based bank has partnered with the fintech Trust & Will to make estate planning easy, accessible — and free.
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New video game aims to teach kids entrepreneurship and money skills
"The Four Money Bears: Berryville" will challenge fifth-graders or older children to run a successful business by building inventory and a loyal customer base.
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Patriot National gets serious about private banking
The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.
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Long-term care costs can derail retirement plans. Here's how to manage them
A new Morningstar study found that long-term care costs can dramatically impact retirement plans, with 41% of households projected to run out of money when such expenses are incurred.
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Some advisors rage against the machine learning
When it comes to certain AI tools — like those for content creation — concerns over copyright infringement, bland outputs and more have led some financial advisors to eschew the technology.
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JPMorgan, B. Riley and Oppenheimer weather FINRA probes
Rulings from the Financial Industry Regulatory Authority included a $360,000-plus payout from JPMorgan, scrutiny of B. Riley operations and more in April.
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RBC recruits from UBS, Osaic from Atria: Advisor Moves
Also this week, Hightower invests in a large RIA and Bernstein names a new head of wealth management.
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Can Anna Kendrick make LPL a household name?
LPL Financial is well known to advisors but not necessarily to their clients. A new ad campaign airing this weekend during PGA Championship coverage aims to change that.
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IRS can only give ICE tax data in deportation, criminal cases
By agreeing to share taxpayer data at all, the Internal Revenue Service is taking an unprecedented step that breaks with longstanding assurances.
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Private equity deals are hot; here's how to avoid getting burned
Despite the notable flows and valuations, some sellers get locked into an ill-fitting parent firm without many options for getting away.
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Diversification through luxury watches? Advisors have thoughts
A new study explored the benefits of adding timepieces to portfolios of stocks, bonds and gold.
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How to win on the two-front fight for talent and private assets
The dilemmas from data, client demand and recruiting could provide opportunities for upstarts. Here's how wealth and asset management firms are responding.
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Remote workers are delaying retirement. Is that a good thing?
A new study from the Center for Retirement Research found that older remote workers are working longer than their in-office counterparts. Financial advisors say the trend offers plenty of benefits, but it isn't without its pitfalls
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AI a small part of wealth firm budgets, but that may change
While recent Financial Planning research found many firms have only a single-digit percentage of their tech budgets allocated to AI, three-quarters of those surveyed said they plan to spend at least somewhat more in the next year.
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Here are the winners and losers in the Republican tax bill
Wealthy Americans and business investors are among the big winners while targets of Trump's ire such as immigrants and elite universities were hammered.
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