Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent survey of financial advisory firm employees found that about half of respondents are currently working in the office five days a week, with the remainder divided among hybrid formats or full-time work from home. Notably, the survey identified differences in workplace flexibility by role (with client-facing advisors working more days per week in the office) and by experience (with newer firm employees more likely to have more in-office days each week). Altogether, the survey suggests that after firms operated remotely for a certain period during the pandemic, many are taking the opportunity to establish work location policies that fit the needs of their business, employees, and clients alike.
Also in industry news this week:
- In the continued absence of formal SEC guidance on advisory firm use of Artificial Intelligence (AI), many firms are taking a curious, but cautious, approach toward adopting AI-powered tools
- A recent report identifies the growing total wealth controlled by women in the U.S. and offers strategies for firms to tap into this potential business opportunity
From there, we have several articles on retirement planning:
- A study finds that, on average, retirees’ satisfaction with their financial situation tends to increase with age, potentially offsetting the average decline in consumption compared to their pre-retirement years
- Why ‘life upgrades’ could be an effective way to encourage hesitant clients to spend more money in retirement
- How advisors can help clients live more prosperous lives by dispelling retirement spending myths that clients might have internalized
We also have a number of articles on working with client couples:
- How advisors can effectively work with each member of client couples when one partner serves as the household ‘CFO’
- Tactics for encouraging client couples to hold regular money check-ins between meetings with their advisor to improve communication and vision setting
- Four questions advisors can ask client couples to discover underlying risk tolerance differences between partners
We wrap up with three final articles, all about spring cleaning:
- How decluttering one’s life can extend beyond physical items to include the information they consume and the obligations they take on
- How leaders can reduce their workload even when they’ve delegated as many tasks as possible
- Seven essential processes that can allow financial advisory firms to run more efficiently and productively
Enjoy the ‘light’ reading!
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