While 62% of Americans say their financial planning needs improvement, only 35% seek the help of a financial adviser, according to a study by Northwestern Mutual.
Over the last two years, however, the study found that 29% of Gen Z members and 24% of millennials who said they didn’t have an adviser before the Covid pandemic now either have started working with someone or plan to do so. That compares to 18% of the overall population who felt that way, Northwestern Mutual said in a release. Before the pandemic, younger Americans were among the least likely to work with an adviser.
The survey found that people contending with financial uncertainty say it adversely affects their health, job performance and relationships, with between one-quarter and one-third of respondents saying that it makes them feel depressed, keeps them up at night or makes them feel ill, among other negative effects, at least once a month.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
