Adviser links: empathy and communication
Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at...
Charles Schwab ($SCHW) is seeking a new leader for their long-short separately managed account (SMA) program. The firm is also shifting from FDIC coverage to SIPC coverage for sweep cash. There are discussions about potentially charging a subscription fee for their services.
AI policies in financial advisory firms are a hot topic. Altruist is enhancing Hazel's branding efforts. AQR is leading the way in tax-aware long-short strategies.
Goldman Sachs ($GS) is fully committed to tax-aware long-short strategies. As assets are being reallocated, Registered Investment Advisors (RIAs) must grow or risk failure.
Retaining clients is crucial, and addressing client behavior is key. Advisers must help clients sell long-held assets that they do not wish to liquidate. Common fears among clients must be acknowledged and managed.
Aging clients require special support, especially during times of loss and grief. Books like "Die With Zero" provide a framework for discussing these sensitive topics.
Technical skills can be acquired through training, but emotional intelligence and communication skills are innate and vital for successful financial advising. Advisers should focus on developing these skills to better serve their clients.
Written by urgent.news from Abnormal Returns's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
