Adviser links: doing more and more
Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at...
Michael Batnick discusses with Robb Baldwin, CEO of TradePMR about the increasing trend of advising. Michael Kitces chats with David Brooks, founder of Retire SMART, focusing on the importance of investing in education. Charles Schwab ($SCHW) is considering raising the client asset minimum for a referral from $2m to $5m, a move indicating their effort to convert customers into clients.
The number of $5 million clients is described as limited. Vanguard has ventured into the custom model portfolio business, providing an alternative for advisors. Morgan Stanley Wealth Management has chosen to opt out of the Forbes Top Advisor rankings, signaling a possible shift in their strategy. Fidelity made the decision to exit the tax-aware long-short business.
The number of cash balance plans is increasing significantly. It is advised to double-check clients' QCDs on Form 1099-R to avoid any errors. Advisors are exploring the creation of their own interval alternatives funds. Vibe coded apps are not sufficient to run a practice, highlighting the need for more robust solutions. Financial planners are encouraged to take on the role of a conductor rather than a quarterback, overseeing the overall practice rather than just managing individual clients.
Trusting a contact is crucial in this field, as recommended by wealthmanagement.com. Advisers should remind clients to revisit their beneficiary designations, as emphasized by rethinking65.com. Lastly, a newsletter is available for financial professionals working in wealth management, titled Talking Wealth.
Written by urgent.news from Abnormal Returns's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
