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Maintaining adequate books and records is a cornerstone of compliance for all investment advisers. For financialplanning services, a similar approach to documentation can be applied to support regulatory compliance from the start of client engagement through all the steps that follow. Read More.
Travis is the founder of Student Loan Planner, an RIA and student loan consulting company based in Chapel Hill, North Carolina that serves nearly 1,400 households with ongoing financialplanning (as well as consulting with over 15,000 clients on student loan debt).
However, this "Compliance Rule" did not technically require that the annual compliance review of policies and procedures be conducted in writing, even though advisers were required to maintain records if they did document such reviews in writing! the SEC's new marketing rule). the SEC's new marketing rule).
Taxes are a central component of financialplanning. Almost every financialplanning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Human Oversight 🤖 Why people remain a key part of spend management, and how to strike the right balance between AI-driven analytics and human financial expertise. Forecasting That Works 📈 How AI and predictive analytics can improve financialplanning. Master the balance between analytics and action.
citywire.com) Compliance The SEC is taking a closer look at AI use by RIAs. wealthmanagement.com) Some financial advisers are pushing the limits on marketing with their 'media' appearances. flowfp.com) Can you really say you do 'comprehensive' financialplanning? citywire.com) How to structure an annual renewal meeting.
mebfaber.com) Ashby Daniels talks with Hannah Moore about "doing" financialplanning. wiredplanning.com) Laurence Kotklikoff talks with David Blanchett about problems with conventional financialplanning tools. investmentnews.com) Compliance There's no winning the cybersecurity war, just stalemate.
For smaller firms – especially those with little to no experience onboarding new advisors – creating a well-paced financialplan can feel daunting. First, clarity: both the advisor and manager should be able to clearly define the core financialplanning skills that a new hire is expected to develop in their first year.
In this guest post, Chris Stanley, investment management attorney and Founding Principal of Beach Street Legal, discusses in depth the various stages of buying, selling, and merging an investment advisory and financialplanning business.
The state’s Securities Division released its “Ongoing FinancialPlanning Guide” earlier this year to address what it said were the compliance questions raised by the increased popularity of the subscription model compared to AUM-based fees.
Which, if implemented under the new administration, could provide relief for investment advisers, particularly smaller firms that already have to balance compliance with client service, marketing, and the other duties that go into running a firm.
He has also held senior roles at LPL Financial and Edelman Financial Engines. Mariner launched its independent channel in 2020, offering back-office support, practice management, marketing, investment and compliance to affiliated advisors. Number 8860726. The Overland Park, Kan.-based
The broader concern is that giving actionable tax advice can expose advisors to legal and financial liability, especially since RIA compliance policies and E&O insurance typically only cover investment advice. But it also demands new considerations in how those strategies are presented.
We also talk about how Nancy explains the value of her divorce planning work to prospective clients and what she actually does to earn her fees on a divorce case, the steps that Nancy took to begin to scale her divorce practice as she built her reputation and the volume of clients grew, and how Nancy ultimately decided that the responsibilities that (..)
His work has appeared in The New York Times , WealthManagement.com , FinancialPlanning , RIABiz , InvestmentNews , PC Magazine , numerous blogs and several books, including Technology Tools for Today's High Margin Practice. Number 8860726. He has also been a speaker and moderator at numerous industry conferences.
Welcome to the March 2023 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!
Develop a risk management plan to implement strategies that minimize or eliminate risks, and protect your business with appropriate insurance coverage, such as liability, property and business interruption insurance. Get Help with Tax Planning Tax planning is a critical component of financial management.
This is largely because, for financial advisors, it's not 'just' about capturing notes from the client meeting itself, but also about managing everything that follows: recording meeting notes in the CRM for compliance purposes, assigning post-meeting tasks to the team, and sending the client a post-meeting recap email.
Which suggests that advisers have an opportunity to leverage the power of online reviews, which can act as "evergreen referrals" and drive more prospects to seek out the firm’s services, all while adhering to their firm’s compliance requirements. Read More.
Let's talk compliance. Sometimes that one word has the power to make financial advisors break out in a sweat. Many advisors—especially those who haven't managed their own compliance previously—can feel like it's the "monster in the closet." But it doesn't need to be!
Welcome back to the 336th episode of the Financial Advisor Success Podcast ! Adam is a principal with RubinGoldman and Associates, and the Founder and CEO of Asset-Map, a financialplanning tool that helps financial advisors create a visual representation of their clients’ financial situation, reaching over 1.25
humansvsretirement.com) Corey Hoffstein talks with Martin Tarlie, a Portfolio Manager at GMO, about bridging the gap between financialplanning and portfolio management. financial-planning.com) A review of recent adviso rtech news including the compliance landscape for Twitter alternatives.
But we’re a financialplanning-based firm, which creates some simplicity in how we allocate assets. FinancialPlanning: eMoney and MoneyGuidePro JW: Orion also has a pretty good integration with MoneyGuide Pro, and they have a decent one with eMoney, as well. Number 8860726. They do have a lot more bells and whistles.
For advisors who want to advise on clients' 401(k) plan assets but who can't manage them directly, there have generally been 2 options. And yet the fact remains that technology like Pontera may still be preferable to the alternatives that exist for advisors to advise on and manage clients' 401(k) assets (e.g.,
Compliance!), And while all may appear well on the surface – the client rarely contacts the advisor with problems but they show up for every annual meeting – they may actually be feeling quite disengaged with the financialplanning services being provided. Prospecting! Onboarding!
For advisors who want to advise on clients' 401(k) plan assets but who can't manage them directly, there have generally been 2 options. And yet the fact remains that technology like Pontera may still be preferable to the alternatives that exist for advisors to advise on and manage clients' 401(k) assets (e.g.,
But similar to the Great Financial Crisis of 2008, fiduciary advisors can use this opportunity to assert their value and give clients confidence that their broader financialplans aren’t as negatively impacted as they may think, given the daily doom-and-gloom market headlines. Number 8860726.
The rise of new tools, such as the Elements Financial Vitals System and AssetMap, aims to move from complex, comprehensive projections to more digestible summaries that facilitate great client conversations. So, which planning software should you use? Let's take a look!
Podcasts & Videos CE Webinars Research Newsletters Subscribe Subscribe News Related Topics RIA IBD Wirehouse RPA Insights & Analysis Regulation & Compliance Career Moves Recent in News See all thumbnail M&A Why RIA Buyers Prioritize Firms with Engaged G2 Leadership Why RIA Buyers Prioritize Firms with Engaged G2 Leadership by Alex (..)
What's unique about Bridget, though, is how, as a solo advisor, she found herself overwhelmed with the pressures of having to manage different aspects of her business while also providing great service to her clients as she quickly grew to $77M of AUM in 7 years, and has decided to not to "scale" her firm by hiring more advisors but instead leverage (..)
We also discuss why Jake and his team not only create long-term financialplans for their clients, but also focus on a 10-year vision to help his younger, travel-loving clientele start achieving more of their immediate goals so they're more likely to retain as clients by feeling like they're making near-term financialplanning progress.
In this episode, we talk in-depth about how, after years of working in an environment where she saw first-hand how ultra-high-net-worth clients keep and grow their wealth (and the lack of diversity among those clients), Kamila decided to build a practice that focused on providing holistic financialplanning to communities of color with emerging wealth, (..)
Always consult with a tax professional, ( we happy to help you as well ) to tailor these strategies to your personal circumstances and ensure compliance with current tax laws. The post Save on Taxes with These 5 Year-End Financial Tips appeared first on MainStreet FinancialPlanning.
Also in industry news this week: While the number of RIA M&A deals has not surged in 2024, the average size of deals has increased, demonstrating interest from (often private-equity-backed) firms in pursuing larger targets Off-channel communication tops the list of concerns amongst RIA compliance professionals, with advertising and marketing coming (..)
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that the Treasury Department has finalized rules requiring most SEC-registered RIAs to implement risk-based Anti-Money Laundering and Countering the Financing of Terrorism programs, including a requirement to report suspicious (..)
This month's edition kicks off with the news that 'startup' custodian Altruist has completed a $169 million fundraising round as it continues to rebuild the RIA custodial tech stack layer-by-layer while positioning itself as the biggest RIA custodian built from scratch and solely for advisors – which, while making it the clear #3 custodian behind (..)
(riabiz.com) AI Is AI an existential threat to the business of financial advice? advisorperspectives.com) Vanilla is rolling out more AI tools for estate planning. investmentnews.com) Compliance How to conduct and document an annual compliance review. riabiz.com) The upside of pro bono financialplanning.
However, the reality is that it’s very expensive to build and maintain technology, especially when considering the full range of CRM, portfolio management, financialplanning, and more than a dozen other sub-categories of technology that financial advisors use in their firms. broker-dealers, RIA aggregators, TAMPs, etc.)
The recent rise of Artificial Intelligence (AI) capabilities embedded within advisor technology throws a wrinkle into how advisors adhere to their fiduciary and compliance obligations when using technology.
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