Financial Planning

RBC Wealth’s AI-Powered Insights tool searches public data and reviews internal client info to identify times in which clients may need financial advice. Advisors say it has helped them deepen client relationships at the times they can provide significant value. Join us in congratulating the firm for being one of the winners of Financial Planning’s inaugural Innovation Awards! #wealthmanagement #AI #innovation #investing

This week in advisor moves, Merrill draws a $2.2 billion team from Morgan Stanley, and Morgan Stanley a $2.7B team from UBS; LPL Financial goes to Ameriprise, Bank of America and Cetera for teams, and Raymond James picks up one from LPL. #recruiting #wealthmanagement #advisors

Wells Fargo is back in the regulatory hot seat. This time it’s paying $3 million to settle allegations that paint a classic picture of “churning” clients’ brokerage accounts to generate sales fees and commissions. #regulation #litigation #wealthmanagement

If Democrats retake the U.S. House in November, significant retirement legislation could see the light of day. However, not everyone is convinced it's the right approach. While the Auto IRA Act of 2024 is “long overdue” for some, others feel it represents the “nanny state.” Including insights from Ben Simerly, CFP? of Lakehouse Family Wealth, Daniel Yerger, MBA, CFP?, ChFC, AIF of MY Wealth Planners, Joe Petry, PhD, CFP? of Mayfair Financial, Megan Kopka, CFP?, RLP? of Apprise Wealth Management, Jarrod Sandra, CFP? of Chisholm Wealth Management and Ross Cutler, MBA, CFP?,CTFA, ATFA of King Tide Advisors. #financialplanning #IRA #retirement

Navigating the complexities of car buying can be challenging, especially when balancing client needs and wants. Here’s a guide to buying a car, with insights from financial planners Fahmin Fardous, CFP? of Zenith Wealth Partners and KASHIF A. AHMED, CFP? of American Private Wealth. #cars #financialplanning #tax

A judge dismissed a suit against Edward Jones that accused it of “reverse churning” —?here’s the details, and what it says about hybrid firms’ standards of conduct. Also in today’s newsletter: Automatic enrollment in retirement saving plans could be a boon for many Americans, but some feel putting that idea into law is too much like living in a “nanny state.” Plus, getting deals on wheels — here’s how to help clients make good decisions on buying (or leasing) a vehicle. #fiduciary #retirementplanning #carbuying #financialadvisors

Athletes often need careers after their careers. Wealth management is full of them. #wealthmanagement #financialadvisors #secondcareers

DNA Behavior’s AI Digital Scan creates client proxies to uncover behavioral finance characteristics. Join us in congratulating the firm for being one of the winners of Financial Planning’s inaugural Innovation Awards! #wealthmanagement #AI #innovation #behavioralfinance

Former NFL player and UBS exec Adewale Ogunleye said there’s a growing demand from his professional athlete clients to work with female advisors. “The players feel like men egos get in the way of giving them sound advice. And I think women have a great balance, especially in the Black community, of being able to be firm but nurturing at the same time,” he said on a panel at the Association of African-American Financial Advisors’ annual conference in Washington, D.C. #diversity #financialadvisors #womenintheworkforce

Despite increased optimism about their retirement accounts, many savers report feeling nervous about outliving their retirement funds. Retirement experts say there is much financial advisors can do to help alleviate clients' fears. With insights from Benjamin Simerly of Lakehouse Family Wealth, Amy Greene LoCascio of Eamon Capital Management, Julie E. Hall of Vision Capital Partners and Noah Damsky of Marina Wealth Advisors. #retirement #savings #clientconfidence