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SEC Leadership Change and Trendspotting

The SEC may be making news lately for its crackdown on cryptocurrency, but the real story may be how its agenda has been changing concerning enforcement actions. Here are a few things financial advisors should consider.

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Financial Plans for the Entire Family

Income variability, market volatility, and continuing international conflict have led clients to increasingly think of including several generations in one financial plan. Here’s what to know about creating family financial plans.

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In a Marketing Pinch? Add a Dash of Menu Planning

Market costs have been putting many small financial firm owners in a bind. They may find themselves between the rock of needing to increase warm leads and the hard place of reducing costs. There is an answer, and it may be to borrow a popular trick from household management: meal prepping.

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FINRA Data: The Latest Snapshot Shows Trends in Consolidation and Geographic Changes

This summer FINRA released its industry snapshot for 2024. This report provides a solid overview of changes in the industry over the last year. Financial advisors may want to keep an eye on any trends such as an industry consolidation towards firms with more experience and growth of registered agents in the South and Southeast.

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Time to talk taxes: The TCJA, Child Tax Credits, and Tax Brackets

As Quarter Four draws near for many investors, clients may be thinking of preparing for their year-end discussions on tax preparations. But advisors may want to take time to talk with them about the potential for tax changes that 2025 could bring.

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Eyes on the Court: Could the Supreme Court’s Fall Arguments Impact Financial Advisors?

The Supreme Court’s summer term in 2024 may be one of the most memorable in decades. But that doesn’t mean it’s time to look away. Three cases set for argument in October of 2024 could have impacts for financial advisors and investment professionals. Here’s what you need to know.

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Educating Clients on Education Savings Strategies

Inflation may be slowing, but for many clients the cost of a tuition for their children remains a serious concern. Advisors may want to offer proactive information for clients on these accounts. And what better way to educate clients than to rely on the 5Ws learned early on in the class room: who, what, where, why, when and how much

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A Wealth of Information: Family Protection Strategies

Clients may need their advisor to bring up the topic of family wealth management so that they have a fully informed retirement plan. Here are some of the basics clients may need to discuss with their advisors but may need help initiating a discussion.

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Recommended Changes to Anti-Trust Regulations on Competitor Collaboration May Help Advisors

Given the dynamic pace of change in the financial industry and to financial advisors finding new marketing products, advisors may want to stop and listen before firing up a new marketing plan involving cross-selling and collaboration. Here is a background on the topic so that advisors can spot issues to discuss with their compliance and legal counsel.

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Emotional Investing and Alternative Investments: Is Education the Answer?

The merits of alternative investments for many investors as appropriate vehicles for diversification can be reduced when decisions are motivated by emotional investing. While advisors are familiar with this dangerous dynamic duo, new approaches suggest that the risky mix of emotional investing and alternative investments may be harmonized by something as simple as education.

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Marketing to MEPs

The gap between new, more lenient regulations on who can qualify as an employer under ERISA and providing those plans might be filled by financial advisors if advisors can understand how to market their services to those groups. To understand how to cross this gap, advisors may want to understand the history of the rule change, how associations make decisions, and how to market to them.

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Unknown Unknowns after Loper Bright? Flexibility as the Best Fix

Recent Supreme Court cases restricting the powers of regulatory agencies like the DOL and SEC cases may have injected an enormous punch of uncertainty into most financial advisor’s plans. It could be the ultimate unknown unknown. But fear not, advisors may have a friend in flexibility.

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New findings from FINRA: Investors Show Affinity for Advisors over AI Generated Research

In the race to keep up with AI advancements, it seems like financial advisors just got a power boost. In early June of 2024, the FINRA Investor Education Foundation reported new research suggesting consumer trust favored financial professionals more than AI in terms of financial information.

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Finfluencer Risks

Over the years, we’ve weighed the pros and cons of various social media platforms on financial literacy. Sometimes, preference for social media runs along generational lines. Lately, two trends may have combined to create an important issue for financial advisors: a reduction in attention span and the rise in so called “Finfluencer” may mean clients are relying on TikTok for financial education.

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Risk Horizon: New Tools for Monitoring and Managing Investment Risk.

Recent research released in June of 2024 by MFS Investment Management may reflect that the scope of risk is shifting. These concerns include administrative and regulatory changes as well as continuing concerns about retirement readiness of plan participants. These concerns about managing volatility and adjusting for potential litigation risks may have financial advisors considering their current offerings of investment monitoring.

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Unauthorized AI at Work and Cybersecurity Threats

A new report shows that a large percentage of employees are using AI at work, without their employer’s knowledge or approval. Unauthorized AI can create serious cybersecurity risks for those handling private financial information. Such use may also run afoul of the EBSA’s recommendations for retirement plan service providers.

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A Difference of Opinion on the Gender Diversity in Investment Management: Food for Thought

A recent article highlighted on NASDAQ’s news page noted that demographic changes among retirees may create opportunities for more diversity among advisors. Yet, that report seems to not align with other, more recent studies. That may beg the question, what is the state of gender diversity in asset management and financial advising?

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Supreme Court Allows Consumer Finance Protection Agency to Continue, But Congressional Legislation May Curtail Its Jurisdiction

A recent opinion from the Supreme Court on a regulatory agency’s funding could resolve some questions over the future of regulation of the retirement planning industry. Yet, there may also be changes on the horizon through related legislation.

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What’s Keeping Small Businesses From Offering Retirement Plans? Lack of Knowledge of Options

A new report from the Center for Retirement Research may be important for advisors who plan to pitch their fiduciary services to small firms. Released in March of 2024, the 2023 Small Business Retirement Survey assesses the beliefs of small business owners regarding retirement benefits and how those beliefs move their decisions to offer, or not, such benefits.

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Diversifying Through ESG Investments

In recent years ESG investing has emerged as a popular choice for investors looking to align their portfolios with their values. One of the key questions advisors may hear from their clients is whether ESG funds perform as well as traditional investments and if they can be a valuable addition to a diversified investment portfolio. Here is a review of where the industry stands on this area.

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Follow These Tips: New Strategies to Refresh Your Arsenal of Prospect Follow Up Communications

The average professional worker is swamped by more than 120 emails per day. In this deluge of emails, a problem bobs along like a tiny rowboat: your marketing leads. If you feel like you need to level up your follow ups, here are a few new strategies we’ve seen from a variety of industries.

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EBSA Enforcement Data: Are Enforcement Numbers Up?

Has the agency tasked with enforcing ERISA performed on the prediction of increased enforcement action under in the Biden Administration or did it focus on new regulations instead? We compared the first year of the new administration to last year to find out.

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Everyone’s Talking About Aging, So Why Can’t Advisors?

The public is having a very heated conversation on aging and capacity, especially when it comes to holding political office. Some may even want a break from the coverage of older politicians and their foibles. But one arena that may need more discussion of longevity and aging is retirement planning.

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“Have I answered All Your Questions today?”

One aspect of active listening that advisors may want to consider involves asking confirming questions. Yet, some business experts suggest avoiding the most common of those confirming questions: “Have I answered all of your questions today?” Here’s what advisors can do to think of how to adopt this phrase in their client communications.

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Divesting Inflation Demographics: Consumer Studies May Show It’s More Than Inflation Irking Investors

Two recent studies released in January of 2024 point in opposite directions: one indicates that inflation may be slowing down quieting consumer concerns, others say inflation is still top of mind for most workers. What gives? It may be where investors live. For advisors struggling with determining how to manage inflation’s impact on their clients, digging into these studies may help.

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Authors

Sean Riley
Financial Consultant
Beau Adams
Executive Vice President, BCG
Jeffrey Garlatti
Financial Advisor
John Correll
Client Relations Team Leader
Kevin Bonner
Regional Retirement Sales Director
Robert Terry
Retirement Plan Sales Manager

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