Weekend Studying For Monetary Planners (January 27-28)


Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information of a survey indicating that about 90% of economic advisors would swap corporations based mostly on unhealthy know-how at their present agency, and that 44% have already achieved so. The survey additionally suggests {that a} agency’s tech stack can have an effect on its potential to draw and retain shoppers, with 93% of advisors who mentioned they work with state-of-the-art know-how reporting that they’ve added new shoppers because of one other agency’s unhealthy know-how, and 58% of all advisors surveyed reporting that they had misplaced new enterprise as a result of unhealthy know-how.

Additionally in trade information this week:

  • A Home committee has superior a invoice that might lengthen a number of expired business-related tax measures from the Tax Cuts and Jobs Act and would enhance the worth of the Little one Tax Credit score
  • The SEC launched its examination priorities for 2024, which embody a give attention to advisers’ adherence to their obligation of care and obligation of loyalty obligations, together with when recommending advanced funding merchandise

From there, we now have a number of articles on advertising:

  • How monetary advisors can handle the “Curse of Data” to speak extra successfully with prospects and shoppers
  • How advisors can overcome “impostor syndrome” and market themselves successfully when serving a distinct segment clientele
  • How advisory agency homeowners can higher align their staffing and advertising bills with their development targets

We even have quite a lot of articles on retirement planning:

  • A wide range of limits and guidelines associated to retirement planning are altering in 2024, introducing a number of potential alternatives for monetary advisors to make use of with their shoppers
  • Why monetary advisors and retired shoppers themselves may each be chargeable for the relative lack of recognition of quick annuities, regardless of the potential advantages they provide
  • How retirement revenue guardrails may assist retired shoppers spend down their belongings in a sustainable method in quite a lot of market environments

We wrap up with three remaining articles, all about Synthetic Intelligence (AI):

  • How Enterprise Giant Language Fashions may assist advisory corporations overcome the privateness and compliance challenges of utilizing publicly out there AI instruments
  • Why expert human translators proceed to outlive amidst competitors from AI, and the potential classes their expertise provides for monetary advisors
  • Why sure AI instruments are much less cost-effective than human staff for a lot of job capabilities

Benefit from the ‘mild’ studying!

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