Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at why RIA M&A is only likely to accelerate.
Quote of the Day
“What amount of money would you need to feel totally secure?” And every single one of them [who inherited money], no matter what they had, named a number that was roughly twice what they inherited. So that’s what you need to know about money, right? If that is your primary measure of success or value in life, then good luck with that, because it will never feel good."
(Abigail Disney)
The biz
- The quarterly client e-mail newsletter is an anachronism. (investmentnews.com)
- Four characteristics you want to see when recruiting an adviser. (kitces.com)
- Big broker "bonuses" can lead to some pretty unseemly activity when there is a risk of having to give money back. (startribune.com)
- The era of 1% asset management fees is coming to a close. (forbes.com)
Schwab
- Schwab ($SCHW) is switching its robo-advice to a subscription model. (bloomberg.com)
- How much service can Schwab provide at $30 a month? (riabiz.com)
Robos
- Ellevest just raised $33 million to accelerate growth including Ellevest Private Wealth. (techcrunch.com)
- Betterment is making it cheaper for its clients to customize their own portfolios. (citywireusa.com)
Larry Swedroe
- A big profile of prolific writer Larry Swedroe, director of research for the Buckingham Family of Financial Services (thinkadvisor.com)
- Wes really liked "Your Complete Guide to a Successful and Secure Retirement" by Larry Swedroe and Kevin Grogan. (alphaarchitect.com)
Podcasts
- Josh Brown talks about four big disruptions coming to wealth management. (thereformedbroker.com)
- Michael Kitces and Carl Richards discuss the importance of authenticity and likability for advisers. (kitces.com)
Advisers
- How de-risking a client portfolio, even a little bit, can reduce anxiety. (bpsandpieces.com)
- Where might bias creep into the financial planning process? (morningstar.com)
- 62% of widows walk away from their financial advisor upon the death of their spouse. (global.spdrs.com)
- Just because structured products are easier to invest in these days doesn't make them a good idea. (wealthmanagement.com)
- A Q&A with Carolyn Gowen about evidence-based investing from a UK planning perspective. (evidenceinvestor.com)
- Research shows worse outcomes for those using "transactional advisors." (onefpa.org)
