@finplan

News, analysis, insights and data for financial advisors

financial-planning.com
Joined February 2009
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“Own your data” was a common refrain at #ADVISEAI. But what does it mean for smaller RIAs? @MichaelKitces says most will buy, not build. Joel Bruckenstein @FinTechie says read your contracts first, because getting your data out could cost tens of thousands. #ArtificialIntelligence #PracticeAndClientManagement #RIAs financial-planning.com/news/…

Do smaller RIAs really need to own their data?

At FP's ADVISE AI conference, Michael Kitces called many big-firm data warehouse builds overspends, while Joel Bruckenstein warned small firms to clean their data and scrutinize vendor contracts.

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Industry consolidation and record profit margins may paint a picture of a thriving RIA industry — but what happens when organic growth stalls ? For wealth firms, slower organic growth can have big implications for both advisor pay and firm valuations. Read the story by Tobias Salinger: financial-planning.com/news/… #RIAs #wealthmanagement #organicgrowth
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Claiming Social Security benefits early is a costly mistake — or is it? Data analysis paints a more complex picture. #retirement #socialsecurity #finance financial-planning.com/news/…

Why claiming Social Security at 62 isn't a mistake

Financial advisors often urge clients to delay Social Security to maximize benefits, but new research suggests early claiming may be a rational choice for most households.

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As the new private wealth head at @WellsFargo, Krista Goryl aims to ensure wealthy clients are supported by the firm’s many banking, investing and wealth services. #financialplanning #wealthmanagement #financialadvisors financial-planning.com/news/…

Wells Fargo private wealth head taps firm's full capabilities for clients

Since stepping into her position as private wealth director, Krista Goryl has been busy traveling the country to help advisors harness the firm's offerings — from tax planning and trusts to specialty...

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Independent advisors trail employee advisors on AI 42% to 73%. But independent adoption of the tech more than doubled in a year. Here’s how smaller firms can close their AI gaps. #AI #ClientAndPracticeManagement #RIAs financial-planning.com/news/…

Independents lag on AI. Here's how they can catch up

Larger firms have the governance, vetting and training to deploy AI. Smaller firms are racing to catch up.

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Trust but verify: a framework for how to ensure AI outputs don’t go rogue for financial advisors, from @DrMohamed_Farag of @CarnegieMellon. #ADVISEAI #FinancialPlanning #WealthManagement financial-planning.com/news/…

How to measure risk when advisors start to trust AI

Mohamed Farag lays out a framework for how much financial advisors should trust artificial intelligence, and how to verify its outputs.

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With opportunity zone deferrals expiring at the end of the year, the tax bill is finally coming due for many investors. For advisors, there are many rules to keep in mind as they guide clients through the process, as well as potential investments in new opportunity zones. #tax #financialadvisors #opportunityzone financial-planning.com/opini…

Opportunity Zone 1.0 begins expiration process at year-end

Here's how to help clients with long-deferred gains prepare to settle up.

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.@Merrill opts to not rock the boat on broker pay as it continues to push advisor recruiting and retention. #compensation #brokers #financialadvisors financial-planning.com/news/…

Merrill announces laser-targeted advisor bonus incentives for 2027

Industry consultants say one of the surest ways to lose advisors is to make frequent changes to their pay. Perhaps with this in mind, Merrill sticks to its basic compensation grid while seeking to...

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A well-designed fee model benefits wealthy clients by reducing their costs while making the advisor relationship more transparent, argues Randy Waesche of @FFIGlobal. #AdvisorCompensation #AUM #UHNW #FeeModels financial-planning.com/opini…

Why fee-based models are the future of advisor compensation

Portfolio growth shouldn't determine advisor value — especially when it comes to ultrahigh net worth clients, argues a veteran financial planner.

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The lucky No. 13 piece in FP's series on the fees and business models of the industry's custodians concerns 3 small but substantial — and largely silent — firms. #wealthmanagement #financialadvisors #RIAs financial-planning.com/news/…

As smaller rivals keep quiet, Axos opens up on custody fees

Axos Advisor Services, Hilltop Securities and Innovayte may not be as large as industry giants like Schwab, Fidelity and Pershing, but each has built a solid base of clients. And the three underdogs...

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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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