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 you shouldn’t confuse client contact with connection.
Quote of the Day
"Traditionally, financial advisors have had one goal: maximizing their clients’ wealth. But many young people are deciding that accumulating wealth is not a meaningful goal in itself."
(Phuong Luong)
Chart of the Day
Podcasts
- Barry Ritholtz talks with Catherine Keating, CEO of BNY Mellon Wealth Management about how to generate 'tax alpha.' (ritholtz.com)
- Jeff Ptak and Christine Benz talk with Michael Jantzi who is CEO of Sustainalytics about the future of sustainable investing. (morningstar.com)
- Michael Kitces and Carl Richards talk about a flaw with goals-based financial planning - actually setting goals in the first place. (kitces.com)
Startups
- Startup FA Match wants to re-make the business of adviser recruiting. (riaintel.com)
- A new non-profit organization, AdvisersGiveBack.org is looking to build a web-based platform that connects volunteer financial planners with individuals in need of pro bono planning. (wealthmanagement.com)
M&A
- LPL Financial is buying Waddell & Reed’s wealth management business. (citywireusa.com)
- Why Focus Financial Partners is creating a new standalone RIA. (riaintel.com)
- FMG Suite is buying Twenty Over Ten to build an advisor marketing powerhouse. (wealthmanagement.com)
Compensation
- What benefits and perks actually help keep employees happy and engaged. (kitces.com)
- RIAs are reviewing their benefits packages in light of the pandemic. (financial-planning.com)
Client communications
- A lot of people don't seek out financial advice when they need it out of shame. What they need is empathy. (thinkadvisor.com)
- Virtual meetings are not a stop-gap. Get better at them for the long haul. (absoluteengagement.com)
Advisers
- Devin McGinley, "The hiring of operations specialists was the biggest differentiator between elites and other advisory firms." (investmentnews.com)
- Fidelity, among others, is betting advisers want an integrated technology solution. (riabiz.com)
- Smaller advisers are worried that the new Schwab ($SCHW) will leave them by the wayside. (financial-planning.com)
- Financial issues, like missed bill payments, can be a sign of developing dementia and Alzheimer's disease. (jamanetwork.com)
- People in retirement underestimate their longevity risk. (klementoninvesting.substack.com)
