Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent benchmarking study suggests that a number of RIAs are looking to move ‘upmarket’ and work with wealthier clients by expanding their service menu to include family office services, investment banking, and/or trust services. […]
Archives for August 2024
5 things to expect at Financial Planning’s ADVISE AI
Financial Planning’s upcoming ADVISE AI conference will feature industry-leading experts from firms including Microsoft, Orion and CogniCor who will offer insights on how advisors can use AI to grow their businesses.
A Ponzi scheme, pandemic relief fraud, cash sweeps and other recent financial legal battles
Wealth management firms are facing scrutiny from investors over their investing choices and missed signs of fraud, in our latest look at the legal issues in wealth management.
Fewer professional reps submitting pension claims
The percentage of professional complaints about pensions and annuities to the Financial Ombudsman Service – including from claims management companies – showed a surprise fall in the latest quarterly period, in marked contrast to a surge in professional complaints overall.
Exclusive: Consumer Duty ‘reducing’ access to advice
Nearly three in 10 Financial Planners (28%) surveyed in an exclusive poll for Financial Planning Today say they have cut the number of clients they serve as a result of the Consumer Duty.
Quilter Cheviot lowers fees for nominee MPS
Discretionary wealth manager Quilter Cheviot has lowered the charges for clients invested in its managed portfolio service (MPS) via its own nominee arrangements.
Global economy slowing, but not in recession, says report
Ned Davis Research analysis predicts the Federal Reserve will cut interest rates by 25 basis points at each of the remaining meetings this year, starting in September.
Are AI Agents the next big wealth management disruptor? What financial advisors should know
AI agents are already transforming how financial planners and clients interact; the “app-less” version will add an infusion of enterprise-wide scale to the mix.
Why Regulators Are Questioning The Use Of Held-Away Asset Management Technology (And What Advisors Can Do About It)
Historically, advisors haven’t had many avenues to manage clients’ 401(k) plan accounts, since unlike traditional custodial investment accounts, advisors generally lack discretionary trading authority in employer-sponsored retirement plans. Which wasn’t necessarily a big issue back when most clients hired advisors after they had already retired and were able to roll over their employer plans into […]
DB transfer activity surges in July
The number of defined benefit pension transfers in July surged to the highest level since August 2023.