Results for "next gen"

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Embrace innovation to attract next-gen investors

November 19, 2018

Millennials, generally defined as Americans born between 1980 and 2000, make up the largest demographic group among U.S. adults, and they are quickly becoming the wealthiest. Research from Deloitte estimates that the total net worth of this...

Want to attract millennial investors? Time to rethink AUM pricing

November 15, 2018

As the average age of clients continues ticking upwards, firms across the financial advice industry are discussing attracting Gen X and Gen Y clients. But talk is all that many firms are doing. Recent data from TD Ameritrade reports only 23%...

Understanding the Nuances of Irrevocable Trusts

November 1, 2018

A successful estate plan involves minimizing taxes while transferring wealth to the next generation in an efficient manner. To achieve this goal, many turn to the irrevocable trust. As you may know, property transferred to an irrevocable trust...

6 myths about millennials that could harm adviser businesses

October 27, 2018

Financial advisers, like society at large, get an awful lot wrong about millennials — that group of 20- and 30-somethings who are an obsessive focus of generational discussion. To a certain extent, it's not entirely advisers' fault. Seemingly...

FOMO, social media driving millennials' investing decisions

October 10, 2018

Millennials' use of social media is helping drive their investment decisions, according to Fabrizio Campelli, Deutsche Bank's global head of wealth management. They have a "fear of missing out" (FOMO) as they're more "networked and exposed"...

FPA welcomes conference attendees with #MeToo notice

October 4, 2018

Attendees of the Financial Planning Association's annual conference in Chicago this week were greeted at registration with a sobering reminder of the times in which we live, in the form of a card detailing the conference harassment policy. The...

Learn the Basics of Financial Education Services

October 1, 2018

A recent New York Times article revealed that most U.S. states are not effectively teaching high school students about personal finance. In fact, only 5 states earned an A grade for their financial literacy efforts, while 27 states received...

XY Planning Network experiences the pains of rapid growth

September 26, 2018

The XY Planning Network kicked off its annual conference in St. Louis this week with a benchmarking study showing that its members, like many of their clients, often face sharp learning curves. While it would be difficult to dispute the innovation...

The struggle is real: Why our profession needs next-gen talent now

September 10, 2018

The ground is shifting beneath our feet. The problem is, we look down to see the ground cracking while remaining completely oblivious to what's overhead: A new atmosphere. A changed environment. An unrecognizable future. The financial services...

Are schools adequately preparing next-gen advisers?

September 1, 2018

Eric Schaefer's client was all ears when he laid out a new financial plan for him. Then the client's eagerness to implement the plan suddenly morphed into dejection. "I literally have no time to do any of this," the client said. Mr. Schaefer,...

Few colleges offer a financial planning program

September 1, 2018

The number of universities with financial planning programs is abysmally low. Only 4.5% of the roughly 2,400 four-year higher-education institutions in the U.S. offer a financial planning degree. Observers say the trickle of new advisers entering...

Ideal curriculum for financial planning students

September 1, 2018

We asked program directors at four universities — San Diego State, Texas A&M, Utah Valley and Virginia Tech — what the ideal curriculum would be to prepare next-generation financial planners. Here's a mashup of their picture-perfect course...

Solidify client relationships in volatile times by overcommunicating

August 6, 2018

After the historically low levels of volatility seen in 2017, many investors became accustomed to a lack of bumps in the market. However, the type of predictability simply has not held true so far in 2018. In the current market environment,...

Millennial heirs go to summer camp

July 30, 2018

Fifty-two heirs to lavish fortunes luxuriate in sleek splendor at the Four Seasons. They sip designer lattes and speak the language of wealth. The talk is of money, noblesse oblige, technology, Formula One. At lunchtime, out comes chilled rosé,...

Eight-person team managing $930 million leaves Merrill Lynch

July 30, 2018

An eight-person team managing $930 million in assets at Merrill Lynch in Wilmington, Del., has left the firm to form Wyeth Private Wealth, a hybrid wealth manager based in Chadds Ford, Pa. The team, which has affiliated with Dynasty Partners,...

Wealthfront wants to help millennials take a sabbatical

July 25, 2018

The latest tool in Wealthfront's expanding financial planning utility belt is "Time Off for Travel," a service that lets the digital adviser's clients explore the possibility of taking an extended leave from work. Drawing on information provided...

Merrill adds Zelle to wealth management app to let clients make payments

June 26, 2018

Merrill Lynch is updating its mobile app with some modern features that are increasingly popular among consumers. Clients can now scan and send documents to their Merrill Lynch adviser using their smartphone camera, view activity in their Bank...

The next generation of advisers don't just want a job – they want inspiration

April 30, 2018

With the age of the average independent adviser remaining stubbornly high, firms that support these professionals have become more resourceful and focused in reaching out to the younger generation. From supporting more CFP programs at the college...

40 Under 40 is back — nominate your best now

March 6, 2018

InvestmentNews is beginning its search for the sharpest minds and most engaging personalities among the advice industry's up-and-comers. We're counting on you to help us find them. If you know a superstar adviser who will be 39 or younger on...

Oops! Unintended consequences of tax-law changes

January 13, 2018

The Republican tax bill, signed into law on Dec. 22, has a few unintended consequences for financial advisers. Despite the steady shift from commissions to fee-based accounts, the former could now be slightly more attractive to clients. That's...

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