Explore an advisor’s top tech tools; how to plan credit card debt payments; key practice management tips from Morningstar conference
Financial Planning
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TECHNOLOGY: There's a lot of hype around new AI tools entering the market, but that does not mean every tool is practical for advisors.?
"It's important to avoid the shiny object syndrome and look at what you're trying to solve for versus picking up software," said Randy Carver , president and CEO of Carver Financial Services and registered principal at Raymond James Financial . "Tech will not grow a business, but it'll accelerate it."
We asked Carver for a peek at his tech stack. Here are a handful of tools that Carver uses —?and why he picked each tool.
RETIREMENT: A retiree in New York is facing a double whammy: Her retirement savings are limited, and she's deep in credit card debt. She could pay off her debts right away, but that would deplete her savings. Or she could pay them off slowly, but then she'd face today's interest rates — which are at historic highs.?
What should she do? For answers, she turned to financial advisors. Here’s what they recommended.
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PRACTICE MANAGEMENT: Financial advisors with decades of experience in the profession have learned how to use technology for their investment research, and they're willing to share their secrets.
In a panel at 晨星 's annual U.S. financial professional conference this week at Chicago's Navy Pier, Morningstar Instructional Designer Kira (Frank) Bell called on more than 170 audience members attending the discussion "to be thieves" and "steal with reckless abandon" from the experts on stage. The panelists shared why it's essential for advisors to master the technology that best fits them, their team and their clients — check out their strategies.
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