1. Wall Street Wins Again
As expected, Wall Street wins again. In 2020 and 2021, retail investors were chasing financial markets recklessly. Armed with sites like Reddit WallStreetBets and a Robinhood trading app, not to mention young investing mentors on social media, they believed they had the Wall Street “tiger by the tail.” — Lance Roberts
2. Financial Advisors Who Segment Their Clients Earn More
Financial advisors who segment their clients earn 33% more than advisors who do not segment. A key practice management metric is segmented clients. However, segmenting the right way will show you where your revenue is coming from. Don't make the mistake of building more than 2 segments. Ideal clients and non-ideal clients. — Grant Hicks
3. Help Your Clients Focus on Goals, Not Risk.
Real risk, as your clients experience it, is not portfolio volatility. It’s the likelihood they will fail to reach their goals. This goals-based definition of risk accomplishes two things: it puts risk into a subjective human context, and it lengthens the timeline against which risk is measured. — Dr. Daniel Crosby
4. How Elite RIAs Market Their Businesses Successfully
Financial advisors wanting to thrive in today’s dynamic marketplace need to take a proactive approach to growing their businesses. This requires not just keeping current clients happy, but also attracting new clients. While many advisors understand the importance of marketing, it too often takes a back seat to other concerns. According to industry commentator Michael Kitces, most advisors spend less than 2% of their annual revenues on marketing—less than half of what industry experts recommend. Most of this spending also goes to appreciation events for existing clients, rather than for outreach to new ones. — Axos Advisor Services
5. It Isn’t A Recession Until This Group Of Economists Says So
So did the U.S. just enter a recession? It depends on who you ask. As you no doubt heard, U.S. real gross domestic product (GDP) shrank for the second consecutive quarter, falling 0.2% in the June period after a decline of 0.4% three months earlier. For many people, this is a clear indicator that the country is in recession. — Frank Holmes
6. These Stocks Are Sending a Signal (Like Amazon in 2008)
Today, I’ll let you in on a secret… In bear markets, the best stocks bottom well before the major indices do. In today’s rough market, it’s worth your while to find these gems. Because they’re likely to become the next batch of great American stocks. — Justin Spittler
7. Four Things You Can Do With Your Stocks in This Bear Market
This stock market has been a real lemon. If you fell in love with the highest value your portfolio has ever been, it is unrequited love. Rather than scrunch up your face at your investment statements as they come in, there are four things that you should be considering. — Ross Levin
8. AI: Advantageous for Advisors Looking to Automate Estate Planning
Advisors know that estate planning is an essential part of their service menu and one that’s a vital contributor in holistic practice offerings. On the other hand, estate planning is laborious, document-intensive and tedious. It’s not a stretch to say this is one area of the advisory business that’s “stuck in the stone ages.” Thanks to FP Alpha, it’s possible for advisors to modernize estate planning services. — FP Alpha
9. Robo-Advisers No Threat To Tech-Adopting Advisers
Research also tells us that users of robo-advice generally use a human as well. The Million Dollar Round Table, a US-based group of financial professionals, published an analysis of robo-advisors' roles and found that scepticism toward independent robo-advisors was strong: 36% of professionals said they wanted their finances handled solely by people but just 8% said they wanted their finances handled solely by automated systems. — Adrian Johnstone
10. Financial Capabilities Increasing, But Advisors Still Needed
Despite myriad challenges, including the coronavirus pandemic and rising interest rates, Americans’ financial capabilities are surprisingly sturdy. The recent FINRA Investor Education Foundation’s National Financial Capability Study confirms as much and while that’s clearly good news, there’s ample evidence suggesting registered investment advisors (RIAs) are as relevant as ever. Perhaps even more so today owing to challenges such as inflation, longer life expectancies and the need for durable income, among others. — Todd Shriber
11. Top Advisor Opportunities Right Now
It is no surprise that market volatility and inflation have been weighing heavily on the general public. Between gas prices skyrocketing, the formula shortage, bond market performance, inflation, and more, people are looking for help navigating these rocky waters. Added to that, the pandemic shifted thinking for many people, which left employees leaving their places of employment in droves. When a person quits their job, either to pursue another or because of retirement — financial advice is a must. — Bill Hortz
