Millennials are using TDFs more than others. Digital firms are paying attention. Some of the leading RIAs, asset managers and TAMPs updated their retirement packages with new tools to track target-date funds and savings statistics, ultimately giving clients more sophisticated information about their retirement options. To read the full article in Financial Planning, click: Why Digital Retirement Tools are T ...

The ultra-wealthy say they want to achieve more, yet currently give only 1.2% of their assets to charity. How can advisors help? To read the full article in Financial Planning, click: How to Advise HNW Clients About High-Impact Philanthropy. ...

Excuse me, did Todd Thomson just say there too many financial advisors, not too few? Puncturing one of the RIA industry’s most widely-accepted axioms, the Dynasty Financial Partners chairman did indeed make that assertion at the recent MarketCounsel Summit in Las Vegas. Contrary to ominous reports of a talent shortage, Thomson said, too many advisors are serving too few clients. To read the full article in ...

Triggered by the growing demand for greater value, the financial services industry is creating new categories of products and services that never existed, expanding access in ways that were never expected, providing greater transparency and simplicity—and driving down costs to unprecedented lows. To read the full article in FinancialPlanning, click: How Advisors Can Beat the Fee Compression Race. ...

For the future of financial advice, the writing isn’t on the wall, it’s on the mobile phone screen, says Christopher P. Van Slyke, financial planner and founder of wealth management firm, WorthPointe.  Van Slyke, who's based in Jackson Hole, Wyoming, says the tipping point for him was when he saw that the local bank, Bank of Jackson Hole, was touting its app in a community paper. To read the full article in ...

In a tighter labor market for advisors, compensation is rising, as are firms’ efforts to make work more enjoyable. To read the full article in FinancialPlanning, click: Pay Day—Breakdown of Financial Advisor Salaries and Perks. ...

The retirement software space is seeing increased signs of activity, as advisors seek more sophisticated tools to help clients plan a life after work. To read the full article in FinancialPlanning, click: Retirement Planning Space “Ripe for Modernization”. ...

Some of the most disruptive business models that the world has ever known have succeeded through the use of cross-subsidies—the act of giving away for free something that consumers were previously paying for. To read the full article in FinancialPlanning, click: Fee Disruption is Coming. ...

As competition in the advisor tech space tightens, discount brokerages are expanding their platform’s offerings to appeal to a wider range of advisors.  One of the more compelling new tools is automated portfolio management software that allows advisors to create recommendations digitally without the time and expense of consulting with an expert. To read the full article in FinancialPlanning, click: A New T ...

After strong gains in revenue, client growth and AUM over the last six months of 2017, RIAs say they’re feeling confident about the economic outlook and plan to capitalize on recent growth, according to a survey from TD Ameritrade Institutional.  Nearly nine out of 10 RIAs surveyed netted new client assets in the past six months and almost half expect AUM to grow at an even faster rate in 2018.  They also r ...

Want to be an industry leader in AUM growth rate?  Start consolidating—but also be prepared for hurdles ahead.  Major acquirers and a platform provider of services for a large number of advisory firms sharply outperformed the five-year compound annual AUM growth rate of 11.7% for all RIAs, according to a new report by Cerulli Associates. To read the full article in FinancialPlanning, click: How to Achieve E ...

Illiquid assets may constitute a sizeable chunk of the assets owned by ultra-high-net-worth clients, who often have different needs than other clients in areas such as data aggregation.  In many cases, these clients are especially focused on cash flow and philanthropic issues. To read the full article in FinancialPlanning, click: Managing the Unique Needs of Ultra-High-Net-Worth Clients. ...

With the fiduciary rule in question, a prominent industry association is calling on the SEC to issue guidance on the use of the term "advisor" when offering advice to retail investors.  The CFA Institute has drafted a letter asking the SEC to take steps–ahead of the full regulatory initiative it is contemplating–to clarify the way financial pros describe themselves and their services. To read the full artic ...

Even firms that believe they are too small to matter should think again.  If a cyberattack happens at the firm's outsourced CRM partner, portfolio management vendor or custodian, and clients' personal information is compromised, where is your client going to turn first to demand an explanation? To read the full article in FinancialPlanning, click: When Your Vendor is Hacked, Doing Nothing Won't Cut it. ...

Priding itself on being a technology company first, Betterment has learned it needs a deeper human touch to sustain its advisor platform.  RIAs are often impressed by the slick interface of Betterment for Advisors, its contemporary user experience and the way it helps speed onboarding and back office tasks.  But, the young firm can’t scale on technology alone. To read the full article in FinancialPlanning, ...

The number of deals involving firms with over $100 million dropped 25% last year to 104 deals, from 130 in 2015, according to Fidelity’s 2016 Wealth Management M&A Transaction Report.  Charles Paikert, senior editor for Financial Planning, looks at why the big RIA buyers are becoming more discerning. To read the full article in FinancialPlanning, click: How the Big Time M&A Game is Changing. ...

Many advisers have plans for growth, but does anyone really know what causes above average sustained progress?  After years of experience and study, Glenn Kautt, CFP, EA, AIFA, concluded that leading a firm requires you to have a detailed plan. To read the full article in Financial Planning, click: The Growth Plan: Keeping your Practice on Course. ...

A merger or acquisition is a critical move, and many don’t work out.  Are you ready to make the jump?  John J. Bowden Jr. explores some topics you should consider first. To read the full article in Financial Planning, click: How to Play the M&A Game. ...

Today’s competitive market helps to create the attraction and real possibility of employee mobility.  James Pooley, author of Secrets: Managing Information Assets in the Age of Cyberespionage (Verus Press 2015), shares nine insightful tips every employer should consider and put in practice to protect themselves and their companies. Find out more on the RIA Biz article, click: Ways to ensure your firm’s secr ...