Weekend Reading for Financial Planners (October 17-18)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a new survey finding that, despite the turmoil of the pandemic and its disruption for the business activities (including the marketing) of advisory firms, 71% of advisors are now reporting that they have more clients than they […]

#FASuccess Ep 198: How The Creator Of The 4 Percent Rule Applied It For His Clients And His Own Retirement, With Bill Bengen

Executive Summary Welcome back to the 198th episode of Financial Advisor Success Podcast! My guest on today’s podcast is Bill Bengen. Bill is the former owner of Bengen Financial Services, an independent RIA based in Southern California that oversaw nearly 50 million of assets under management for 80 affluent retirees. What’s unique about Bill, though, […]

Weekend Reading for Financial Planners (October 10-11)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that barely 2 months after Charles Schwab made waves by offering (MoneyGuidePro) financial planning software directly to their consumer clients for free, Bank of America is launching a similar solution, dubbed “Life Plan”, that […]

Kitces & Carl Ep 44: Communicating New Advice Fees When Transitioning Clients From A Commission-Based Business Model

Executive Summary For much of its history, the financial advice industry has been dominated by a commission-based business model, where the comprehensive financial plan was a form of consultative selling that demonstrated to the prospective client their gaps (that the advisor’s products could fill). Given the one-off nature of the model, financial advisors would in […]

#FASuccess Ep 197: Starting Over After A Non-Compete To (Re-)Build The Advisory Business You Really Want, With Ashby Daniels

Executive Summary Welcome back to the 197th episode of Financial Advisor Success Podcast! My guest on today’s podcast is Ashby Daniels. Ashby is a financial advisor with Shorebridge Wealth Management, a hybrid advisory firm based in Pittsburgh, where he personally oversees 38 million in assets under management for 43 retired clients. What’s unique about Ashby […]

The Latest In Financial #AdvisorTech (October 2020)

Executive Summary Welcome to the October 2020 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month’s edition continues with new co-author (and AdvisorTech guru) Craig Iskowitz, along with […]

Weekend Reading for Financial Planners (October 3-4)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement that the CFP Board is ‘updating and modernizing’ its governance structure as an organization, including a revision to its Board terms, and more significantly, an expansion of the Board’s role in both enterprise risk […]

Weekend Reading for Financial Planners (September 26-27)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a striking new study from state regulators finding that broker-dealers are drastically more likely to recommend ‘complex’ investment products than RIAs (from being 2X more likely to use leveraged and inverse ETFs, to 8X more likely […]

Weekend Reading for Financial Planners (September 19-20)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that despite concerns from fiduciary advocates that the Department of Labor’s new “fiduciary” rule will undermine consumer protections by allowing “fiduciary commissions”, the annuity industry is mounting a challenge to the rule out of […]

Weekend Reading for Financial Planners (September 12-13)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the buzzing industry news that Merrill Lynch is barring its brokers from receiving gifts, meals, or entertainment from its wholesalers, in what some see as a shift of even large brokerage firms to begin stamping out […]

#FA Success Ep 193: Turning Operations Experience Into A Virtual Assistant Outsourcing Solution, with Michelle Wong

Executive Summary Welcome back to the 193rd episode of Financial Advisor Success Podcast! My guest on today’s podcast is Michelle Wong. Michelle is the founder of Nifty Advisor Support, a virtual assistant outsourcing solution serving more than two dozen independent advisory firms across the country. What’s unique about Michelle, though, is the way that she’s […]

The Latest In Financial #AdvisorTech (September 2020)

Executive Summary Welcome to the September 2020 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month’s edition continues with new co-author (and AdvisorTech guru) Craig Iskowitz, along with […]

Weekend Reading for Financial Planners (September 5-6)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a big expose from the Wall Street Journal on the SEC’s new Form CRS, which found that amongst 8,100 firms that had filed Form CRS, 3,100 of them had a legal or disciplinary history they were […]

#FA Success Ep 192: Breaking Away From A Wirehouse To Build A True Fiduciary Multi-Family Office, with Paul Pagnato

Executive Summary Welcome back to the 192nd episode of Financial Advisor Success Podcast! My guest on today’s podcast is Paul Pagnato. Paul is the co-chairman and chief visionary officer of Cresset Capital, a multi-family office with nearly $9.5 billion of assets under management for just over 600 ultra-high-net-worth clients. What’s unique about Paul, though, is […]

Announcing New Kitces Research Study On Advisor Well-Being

Executive Summary It’s an old saying that “money can’t buy happiness”, but recent research has shown that, in reality, the relationship between money and happiness is more nuanced. Greater income levels are associated with greater levels of emotional well-being (at least up to a certain point); money is associated with higher levels of happiness, at […]

Weekend Reading for Financial Planners (August 29-30)

Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the big industry news that the SEC has updated the Accredited Investor rules, declining to increase the income and net worth thresholds but expanding the definition of who constitutes a “sophisticated” investor to include financial advisors […]