Financial Planning - September 2024

IBD ELITE 2024: THE MYTH OF BIG VERSUS SMALL

The largest firms enjoy distinct advantages, to be sure. But many small and midsize independent wealth management firms have an edge, too.

Retirement advisors' confidence in the economy broke even in July, but a closer look shows rising anxiety.

Working in teams can boost productivity, make succession easier and allow advisors to move upmarket, new research suggests.

Morningstar's study suggests that emotional or personal motivations are just as important or even more significant than a need for "functional" professional services.

Instead of shying away from fraught interactions as the presidential race heats up, financial advisors say it's important to face them head-on.

Firms that haven't been afraid of generous recruiting offers have shown the greatest growth in recent years.

Art carries higher rates than most investments, but financial advisors and their clients can tap into trusts, charitable donations, loss harvesting and the stepped-up basis.

Low-interest debt backed by an asset can be good, but high-interest, unsecured credit cards are not; however, reducing high-interest credit card debt should be prioritized.

The growing fixed-income products carry some risks, but their returns this year are attracting more financial advisors and their clients, according to experts.

As more portfolios come to rely on alternative investments, expertise in sorting out good from bad opportunities is becoming more critical.

More high-tech vendors are entering the market, making it harder for wealth management firms to keep a long-term relationship with third parties.

As wealth management firms rush to keep up with new technological developments, one common oversight is not testing the tech with the people most likely to use it: the advisors.

Just 9% of wills take pets into account. Here's how advisors can have a conversation with clients to ensure pets are properly included in their estate plans

Client discussions about legacy planning, taxes and financial objectives inevitably raise questions that, often enough, only insurance can address.