Trader Talk

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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Everyone worries about too much inflation. But merely discussing it can make goods and services even more expensive and potentially disrupt retirement planning. This dynamic, now center stage as consumer prices have ticked up rapidly each month since April 2021, puts wealth advisors between a rock and a hard place when it comes to walking
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Henry Yoshida isn’t a fan of referring to alternative investments as, well, alternatives. He understands that is how they’re categorized by the industry and consumers. But for the co-founder and CEO of Rocket Dollar, investments into things like real estate, private equity and even digital assets are far from fringe. Instead, he believes they are
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After the Supreme Court struck down Roe v. Wade on Friday, ending women’s right to abortions nationwide, some banks jumped into a highly charged social policy debate that the industry long sought to avoid. Both JPMorgan Chase and Bank of America made it known that they are generally following the lead of Citigroup, which recently
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A federal investigation into the meme stock frenzy that gripped Reddit investors in early 2021 has led to a host of recommended policy changes from the House Committee on Financial Services and calls for better treatment of all retail investors.  The majority staff report titled “Game Stopped” was released Friday by Committee Chair Maxine Waters,
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In an age of political gridlock, one cause is gaining rare bipartisan momentum in Washington: helping Americans save for retirement. Several bills concerning retirement plans are currently making their way through Congress, which is expected to eventually combine them into one package: SECURE 2.0.  “Bipartisanship is strong on achieving this objective,” said Paul Richman, chief
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With complex questions about how wealth managers can boost Black representation among financial advisors and executives, Raymond James may have at least one answer. That’s because Philadelphia area complex manager Tony Barrett and Maryland financial advisor Kaon Nelson created the firm’s Black Financial Advisors Network in 2013 with the support of CEO Paul Reilly and
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As small and midsize advisory firms merge into larger wealth managers seeking new business lines in a competitive industry, Advisor Group secured its second big deal in as many months. The private equity-backed wealth manager agreed to purchase Holbrook, New York-based American Portfolios Financial Services, an independent brokerage and RIA spanning 850 financial advisors and
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In a new episode of the Financial Planning Podcast, Chris Zuczek explains why he believes data centralization done right is a game changer and what customer satisfaction means to him.  Zuczek, chief product officer for Skience, is a 20-year financial services veteran who joined the solutions and consulting provider last year. Before that, Zuczek was
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