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Katie Brewer, Brian Thompson: “Finding Your Niche: How Fee-Only Advisors are Defining Their Focus (and Why You Should Too),” XY Planning Network, July 13, webinar.
Andrew Altfest: “How artificial intelligence became financial advisors’ favorite new tool,” Financial Planning, July 7. Altfest says, “What advisors need to do and are recognizing, particularly the next generation of advisors, is that they need to be solving clients’ bigger problems by throwing themselves in the middle of everything going on in [their] lives and solving those problems.”
Marjorie Fox: “Two Wise Women Share Their Planning Know-How,” Rethinking65, July 4. Fox’s co-authored book, Women Wise: The Essential Guide to Financial and Lifestyle Decisions as We Age, is reviewed in this article.
Daniel Yerger: “The FPA Community Weighs in On … Their Super Coworker,” Journal of Financial Planning, July. When asked what superhero he would hire in his firm, Yerger says Dr. Manhattan. “He can literally see the entire future all at once, so he’d make a great financial planner!”
Lisa Brown: “Forget the Portfolio, As Clients Ask, ‘How Do I Leave My Job?’,” Financial Advisor, June 30. Brown says, “I have seen a lot of clients who spent their careers in corporate America and burnout was real, and that was most evident from the higher paying professional jobs.”
Ryan Greiser: “Episode #338: Scaling to 100 Clients in 3 Years & Working 3-Day Weeks: A Conversation with Ryan Greiser, CFP®,” XY Planning Network, June 29. Greiser says, “But I think trusting my gut a little bit more would have gotten me more success quicker and [I could have launched] my firm quicker if I would have had a little more confidence in what my gut was telling me when I was younger.”
Lazetta Rainey Braxton: “Beyonce Has a Warning for Wealth Management Leaders,” WealthManagement.com, June 23. Braxton says, “By uplifting the humanity of our employees, we advance the most valuable investment of any business—human capital.”
Cathy Curtis: “When Do You Need a Financial Advisor? Experts Explain,” Marie Claire, June 22. Curtis says about NAPFA and XY Planning Network, “These organizations support independent advisors who are fiduciaries, meaning they take an oath to give advice that is in the best interest of their clients at all times.”
Mike Cheeks, Cody Garrett: “I’m paying my adviser 1%, but ‘the only communications I get are invoices.’” MarketWatch, June 21. Cheeks says, “There are a multitude of independent financial advisers who offer not only more engaging and comprehensive services, but also alternative fee structures.” Garrett says, “This service model and terminology is advice-only and it sounds like the perfect fit for your expectations.”
Katie Burke, Bridget Grimes: “Women Face Unique Financial Challenges,” Rethinking65, June 16. Burke says, “The majority of my clients are couples who are busy professionals navigating careers and kids. These women understand that in order to reach their financial goals there needs to be a solid financial plan in place.” Grimes says, “Led by men who have vastly different experiences and life challenges, our industry needs women to come together to help other women succeed.”
Luis Rosa: “BLX Internship and eMoney partner to get tech into the hands of Black and Latinx advisors early,” Financial Planning, June 7. Rosa says, “… a lot of minorities that come through our industry usually come through some form of sales channel. Whether it’s selling insurance or annuities, this gives them that direct access to financial planning and how advisors work with software within their practice.”
Cody Garrett, Mike Powers: “Launching a Financial Planning Business – The 1st Year,” Twitter Space discussion, June 1.
Erin Coe, David Creekmore, Derek Dall’Olmo, Danielle Miura: “The FPA Community Weighs in On… Positive Traits,” Journal of Financial Planning, June. Coe says, “Everyone’s life circumstances, values, and needs are different, and we’re here to help people achieve their personal financial goals.” Creekmore says, “Stay curious, assume always that there are alternatives you hadn’t considered. Rarely are things as cut-and-dry as you might think.” Dall’Olmo identifies “honesty, empathy, and explaining concepts” as positive traits of a financial planner. Miura says, “I believe that the most advantageous trait a financial planner can possess is being a good listener. A financial planner is unlikely to create effective solutions if they are unable to hear and understand what a client really needs and wants.”
Richard Cooke, Bonnie Maize, Ethan Miller, Lacy Rogers: “Promises of student debt forgiveness put advisers in uncharted territory,” InvestmentNews, May 27. Cooke says, “I have a handful of clients who have the cash ready to pay off the student loans, but we don’t want to be the last people to pay off student loans before forgiveness comes, if it does.” Maize says, “It’s a complex system and generally quite confusing for those with loans to navigate on their own, especially with the changes made during the pandemic. It’s very specific to the individual as to whether I advise them to continue payments during the payment pause or not.” Miller says, “If their overall federal student loan balance is under $10,000, then I am encouraging them to wait to see what happens with forgiveness and set aside what they would otherwise be putting toward their student loans to potentially make a lump sum payment later in the year.” Rogers says, “Use the freed-up income to focus on knocking out your credit card and card debt.”
Chad Duncan, Grant Rawdin: “How Advisors With Autism, ADHD, and Other Neurodivergent Traits Are Stepping Out of the Shadows,” Barron’s, May 17. Referring to having ADHD, Duncan says, “If I’m running late, I don’t have to say it’s because of my brain versus just asking if we can reschedule.” Rawdin says that his firm has hired a psychologist to assist its staff members in achieving “better performance relative to their own characteristics.”
Karla McAvoy: “I’m 60, have ‘well into seven figures’ saved and my only debt is a $60K HELOC. Do I need a financial adviser to help, or can I navigate this myself?” MarketWatch, May 10. McAvoy says, “This could be an hourly planner if you don’t want to commit to ongoing planning initially.”