Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that following the change of administration (and a new incoming chair of the SEC), the Investment Adviser Association is seeking to find ways to help RIAs (particularly smaller firms) manage the compliance responsibilities they face. Which could include measures such as additional time to comply with rules that have been adopted but not yet enforced and perhaps, more broadly, an approach from the SEC that focuses more on whether a firm has robust program controls and a strong fiduciary culture rather than seeking out specific, (sometimes minor) missteps and producing enforcement actions.
Also in industry news this week:
- While RIA M&A deal flow hit record levels in 2024 (both in terms of volume and the speed of completing them), firm valuations saw relatively modest gains
- In its latest annual regulatory oversight report, FINRA joined the SEC in flagging the potential risks to firm and client data from the use of third-party vendors and products, specifically highlighting risks associated with generative AI tools
From there, we have several articles on retirement planning:
- A recent analysis considers 46 factors in determining the ‘best’ states for retirees, revealing potential locations clients might not have otherwise considered when thinking about a move
- The pros and cons for retirees of living near their children (and grandchildren) and how advisors can help them consider the range of financial and emotional implications associated with this decision
- Why moving to a state with relatively low (or no) income taxes doesn’t always result in lower state taxes on deferred income (and how advisors can help clients avoid this issue)
We also have a number of articles on advisor marketing:
- How advisors can identify the four types of prospects and tailor their communication to match their preferences
- A simple graph that advisors can sketch during a discovery meeting to demonstrate the value they offer
- How using infographics to explain a firm’s planning process can leave a stronger impression on prospects than verbal explanations alone
We wrap up with three final articles, all about attention:
- Why attention has become one of the most valuable commodities in the 21st century
- How a weekend “digital intermittent fast” could lead to fewer distractions and more enjoyable, meaningful time away from work
- The value of truly listening to others and how to avoid common conversational pitfalls
Enjoy the ‘light’ reading!
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