Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at how to broaden your reach to underserved populations.
Quote of the Day
"One of the most frustrating, time consuming parts of about onboarding new clients in this industry is the time you have to wait for the ACATS system."
(Josh Brown)
Podcasts
- Michael and Ben talk with David Lau CEO of DPL Financial Partners about creating a marketplace for commission-free insurance products for RIAs (awealthofcommonsense.com)
- Michael Kitces talks about building a premium niche (divorce) practice with Olivia Summerhill. (fasuccess.libsyn.com)
- Cameron Passore and Benjamin Felix talk with William Bengen, the influential personal advisor who popularized the 4% withdrawal rate, A.K.A, the 4% rule. (rationalreminder.libsyn.com)
M&A
- Cetera Financial Group is purchasing the bulk of Voya Financial’s financial advisory division. (citywireusa.com)
- Creative Planning purchased Iron Financial's retirement plan division. (citywireusa.com)
- Advisor retirements are going to remain the primary driver of RIA M&A activity. (riaintel.com)
The biz
- Edelman Financial Engines opened up its custodian business to competitors and ended up staying with Schwab ($SCHW). (riabiz.com)
- How Goldman Sachs ($GS) has rebranded the former United Capital. (wealthmanagement.com)
- The consolidation of Schwab and TD is opening up room for competitors to try and poach RIAs. (riabiz.com)
- Altruist has created a platform that gives FAs access to model portfolios by Vanguard, DFA, in addition to in-house strategies. (riaintel.com)
- The surge in trading will likely push the ultimate Schwab-TDA integration out farther than initial estimates. (riabiz.com)
Direct indexing
- OSAM's custom indexing platform, Canvas, now has in excess of $1 billion in AUM. (wealthmanagement.com)
- Another example of customized portfolios getting pushed down market. (riaintel.com)
- Putting custom indexing into some historical context. (canvas.osam.com)
Advisers
- Four questions to ask yourself before going solo as a RIA. (advisorperspectives.com)
- A profile of the new investors who opened accounts during pandemic. (finrafoundation.org)
- Tax planning is all about dealing with massive amounts of uncertainty. (obliviousinvestor.com)
- Why clients should plan ahead for the potential costs of care for dementia and Alzheimer's. (barrons.com)
- The best books for financial advisors including "Personal Financial Planning for Executives and Entrepreneurs" by Michael Nathanson. (advisorengine.com)
