Trader Talk

One of America’s latest mass shootings touched wealth management directly while robbing family and friends of a beloved grandfather attending a holiday parade in his longtime home. Financial advisor Stephen Straus, an 88-year-old resident of suburban Highland Park outside his native Chicago, was one of the seven people killed in the July 4 shooting, according
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Advisors are using artificial intelligence to expand access to wealth management insights. Traditional financial plans often required multiple meetings between advisors and clients with frameworks left to stagnate outside the meetings, but the inclusion of AI has allowed that conversation to become continuous, Sam Palmer, managing director and head of strategy, digital wealth planning &
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Ameriprise’s independent brokerage notched one of the biggest financial advisor recruiting wins of the year, adding a billion-dollar team that left rival Edward Jones. Advisor Jennifer Marcontell and eight other employees launched Houston-area independent practice Marcontell Wealth Management after 23 years at Edward Jones, where the team managed $1.7 billion in client assets. Edward Jones
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The SEC is heeding a government watchdog’s calls to beef up its oversight of FINRA, but it’s doing so behind closed doors.  The Wall Street regulator, which is FINRA’s only supervisory agency, “generally agreed” with recommendations from the Government Accountability Office last December to improve its formal scrutiny of FINRA, which oversees brokers. According to
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As financial advisors coach clients through market volatility and inflation, they’re looking more critically than ever at their current brokerage firms, according to a new survey. Registered representatives at nine out of 13 wealth managers ranked in J.D. Power’s annual advisor satisfaction study received lower scores compared to a year ago. At least 15% of
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Everyone in the wealth management industry knows about the  “great wealth transfer,” in which $84 trillion will shift from older generations to younger ones by 2045, according to Cerulli Associates. Now wealth planners are confronting a major complication with that massive flow of money: Many people who will inherit wealth  tend to shy away from
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Technology is transforming financial services, allowing the ability for investments and planning to be more scalable than ever. In this session, Head of Product for Goldman’s Personal Financial Management business, Cynthia Loh, will discuss what the firm is doing to enhance client web and mobile apps to better serve advisors so they can help clients
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Grayscale Investments said it had sued the SEC after the agency rejected a bid to convert its Bitcoin trust into an exchange-traded fund.  CEO Michael Sonnenshein tweeted late Wednesday that Grayscale was suing the regulator and the company said it had filed a lawsuit in U.S. Court of Appeals for the D.C. Circuit. The SEC on Wednesday denied the
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Artificial intelligence has the potential to forever change financial services. And now more than ever, advisors seem ready to move in lockstep with the shift. The attitudes, opportunities and barriers related to AI in wealth management were the focus of recently published research from consulting firm Accenture. Their “AI in Wealth Management” survey polled 500
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Millennials shouldn’t rely on Social Security for 100% of their retirement. In fact, a new study says, they shouldn’t even rely on it for 100% of their Social Security checks. According to the HealthView Services, a healthcare research group, Americans born between 1981 and 1996 should expect about a 20% cut to their projected benefits
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In today’s environment, financial institutions face challenges that include: ● New and more complex calculations due to regulatory demands (i.e., FRTB) and climate risk● Explosive data growth and the need to move and analyze this data● Limited on-premise compute capacity● Need to improve time to value by accelerating risk model deployment to production To help
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This week, Docupace’s turn-key Advisor Transitions Program hit a milestone it has been building to since its launch in 2017.  The California-based fintech focused on helping financial professionals on the move “re-paper” all client accounts at one time has successfully transitioned more than 500,000 clients for advisors going to new wealth management providers. Docupace CEO
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If you haven’t planned for an SEC audit, you should.  Why? Because you are likely to face one. Advances in technology and the adoption of a data-centric approach have made it fast and easy for the SEC to comprehensively audit even the smallest firm, regardless of its location.  Thomas Reid The SEC’s 2021 Examination Priorities
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Technology needs to become more human. As wealth management firms increasingly use digital tools to reach and serve investors, they’re also honing in on clients’ personal values, attitudes and goals for building a long-term nest egg. The missing piece in those two trajectories, according to a senior J.P. Morgan executive: not deploying technology in a
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Roth IRAs have been incredibly popular retirement vehicles since their first introduction under the Taxpayer Relief Act of 1997. In exchange for making contributions in after-tax dollars to a Roth account, growth within the account is tax-deferred, and those gains can ultimately be withdrawn tax-free as “qualified distributions” if certain basic requirements are met. Because
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