@finplan

News, analysis, insights and data for financial advisors

financial-planning.com
Joined February 2009
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2KMedia
Two advisors: a 30-year veteran with a bare-bones website, and a newer advisor with a clear niche, awards and reviews. Ask AI for a recommendation and only one gets named. #AdviseAI #ArtificialIntelligence #Technology financial-planning.com/news/…

Why AI might recommend your competitor instead of you

At ADVISE AI, FMG Suite's Samantha Russell said advisors who don't show AI their expertise, authority and trust risk being left out of the answer when prospects ask AI for a recommendation.

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More clients choose to ease into retirement rather than stop working all at once. These “phased retirements” affect both financial and psychological planning decisions for advisory clients. #retirementplanning #financialadvisors #financialplanning financial-planning.com/news/…

Why clients are choosing phased retirement — and what advisors should know

More clients are engaging in phased retirements including some type of work. These plans have implications for both the financial and psychological parts of advising.

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Did you really think brokerages would let commissions disappear without a replacement? .@CharlesSchwab finds a new revenue source with ETF platform fees. #etfs #investments #wealthmanagement financial-planning.com/news/…

What Schwab's new ETF platform fees mean for clients, advisors

Charles Schwab is making good on its long-mulled plans to charge news fees to providers of ETFs. Investors are likely to bear the costs.

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"We should have a national wealth tax," said @united CEO Scott Kirby. To him, it's all about fairness. #tax #wealthtax #united financial-planning.com/artic…

United CEO Scott Kirby says US national wealth tax seems fair

The current system unfairly allows the richest Americans to accumulate fortunes without paying taxes on investment gains, the CEO argued, advocating for changes that would reduce wage earners' tax...

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A new study commissioned by @CredentWealth finds fee-only RIAs are losing market share to hybrid and insurance-licensed peers. Here's why that worries the firm's CEO. #RIAs #wealthmanagement #mergersandacquisitions financial-planning.com/news/…

Among $5B+ RIAs, fee-only firms lose market share to hybrid peers: Cerulli

A new Cerulli Associates whitepaper divides RIAs into fee-only firms, hybrid companies and independent firms with insurance licenses. The results offer a striking view of how consolidation is...

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Two advisors had success running a buy-and-hold investing strategy at @JPMorgan. Then they were told to change it. Instead, they left. #RIAs #investing #wealthmanagement financial-planning.com/news/…

Founders of $18.6B RIA exit JPMorgan to build client portfolios on their terms

Phil Scott and Jim Atwood said when they joined JPMorgan from the failed First Republic bank they were assured they'd be immune from pressures to periodically rebalance client portfolios. But it...

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Gen Zers are often frugal — as well as eager to start saving for their future retirements, advisors say. Here’s how to reach those young investors through holistic planning. #retirementplanning #financialadvisors #financialplanning financial-planning.com/news/…

How advisors can reach Gen Z and get them saving for retirement

Although younger clients tend to have fewer assets, advisors can build long-term relationships with them by demonstrating the benefits of compound growth and holistic financial planning.

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With its private bank, @CitizensBank moves past its loss of the former First Republic to @JPMorgan. #financialplanning #wealthmanagement #financialadvisors financial-planning.com/news/…

Citizens Private Bank outgrows First Republic's shadow

Citizens founded its private-banking unit on the ashes of First Republic Bank, which failed in 2023. Three years later, Citizens Private Bank is going places First Republic never went.

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For financial advisors looking to change firms, picking a recruiter is high stakes. Longtime advisor recruiter @philipwaxelbaum shares due diligence strategies. #financialadvisors #recruiting #advisormoves financial-planning.com/opini…

Likability is not a standard of care

For financial advisors considering a new firm, much is at stake, making finding a good match in a recruiter a consequential decision. A longtime advisor recruiter shares due diligence strategies.

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.@CharlesSchwab is coming out with its own long-short strategy. Is this another form of competition with its outside partners? #financialplanning #investments #wealthmanagement financial-planning.com/news/…

Schwab's long-short plans raise questions about competition

Schwab plans to introduce its own version of a popular long-short strategy used to hold down investors' tax bills. Some wonder if the move is yet another bid to hold more assets for itself.

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When a brokerage firm closes, @sipc works to help investors recover the value of their assets. Here's what experts say RIA owners should keep in mind about the terms and limitations. #financialadvisors #wealthmanagement #compliance financial-planning.com/news/…

The SIPC safety valve: What financial advisors should know about brokerage failures

No current events compare to, say, the collapse of Lehman Brothers or Bernie Madoff's firm. Nevertheless, experts say RIA owners and financial advisors should still understand how SIPC protection...

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When clients no longer need their life insurance policies, letting them lapse isn't the only option. In some situations, life settlements could maximize value. #lifeinsurance #financialadvisors #financialplanning financial-planning.com/news/…

How to evaluate life settlements for clients who no longer need insurance

Instead of letting life insurance policies lapse or even liquidating them, advisors can guide clients through settlements, which might make sense depending on clients' situations.

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The client leads with “Chat GPT told me…” Now what? Advisors share how they use AI answers into better planning conversations and showcase what a chatbot can’t know.#AskAnAdvisor #ArtificialIntelligence #BehavioralFinance financial-planning.com/list/…

Ask an Advisor: What do you do when a client says 'ChatGPT told me'?

Advisors share their responses and strategies when clients bring AI-advised financial topics to the table.

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A @SCOTUS case could make it harder for plaintiffs to bring cases alleging retirement plan mismanagement. #financialplanning #retirement #wealthmanagement sbrew.link/MKcD7HZu

Supreme Court weighs new hurdle for 401(k) lawsuits

The justices consider what sorts of investment benchmarks plaintiffs have to point to when claiming their retirement savings were directed into imprudent and unnecessarily risky funds.

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SEI's costs differ in one key way from the largest custodians: a custody fee that starts at 0.10% and eliminates nearly every transaction fee. #RIAs #custody #fees financial-planning.com/news/…

Why SEI's 0.10% custody fee stands out from giant custody rivals

SEI may not be the first firm that comes to mind when thinking about the industry's custodians, but the firm has built a substantial client base of financial advisors over more than 30 years.

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By making the transition to independence easy, @WellsFargo retains a large number of advisors who would probably otherwise go elsewhere. #wellsfargo #FiNet #RIAs financial-planning.com/news/…

How Wells Fargo keeps advisors by letting them go independent

As large wealth managers struggle to retain advisors seeking greater independence, Wells Fargo has taken a distinct approach with its FiNet channel. But is the loss of profit margin worth the...

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California's proposed billionaire tax is getting the spotlight, but a different proposal, Proposition 3, would permanently extend higher income tax rates in the state. #wealthmanagement #financialadvisors #tax financial-planning.com/news/…

Forget the billionaire tax. This California measure could affect 376K taxpayers

While California's proposed billionaire tax gets the spotlight, Proposition 3 could permanently extend higher income tax rates that are set to expire in 2031.

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What do @WellsFargo, @LPL, @RBC, @RaymondJames and @GoldmanSachs have in common? External RIA custody businesses, of course. Here's why that sets them apart. #RIAs #financialadvisors #wealthmanagement financial-planning.com/news/…

How 5 of the industry's biggest firms do RIA custody

Wells Fargo, LPL, RBC, Raymond James and Goldman Sachs are flexing their ability to compete for RIA custody business. But that business also brings them into some unfamiliar, murky terrain for giant...

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.@CharlesSchwab puts a block on AI agents some clients are giving autonomous control over aspects of their financial lives. #financialplanning #wealthmanagement #artificialintelligence financial-planning.com/news/…

Schwab blocks unauthorized AI agents, points clients to 'Charley'

Schwab executives are worried outside AI agents like Meta's Muse could compromise client data. But some see an effort to protect the firm's lucrative cash business.

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Advisor confidence slipped to minus-2 in October, its lowest reading since April. The global economy score fell 16 points, and government policy turned negative for the first time since June 2024. The bright spot: advisors’ own practices. #FACO #EconomicIndicators #Investments #MonetaryPolicy financial-planning.com/news/…

Amid pessimistic economic and policy sentiments, advisors see the potential in their firms

Financial Advisor Confidence Outlook data revealed what advisors think about current issues around the economy, policy and practice management.

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