When it comes to your client’s finances, age is just a number. At least that’s what Ameriprise’s Financial’s recent Ages, Stages & Money study indicates. According to Ameriprise’s data, clients can be more accurately catalogued by their financial life stage: asset accumulator, asset maximizer or asset sustainer, than their relative ages. Marcy Keckler, VP of financial advice strategy at Ameriprise explains, “Everybody’s financial journey is unique. For advisors, one of the key lessons is to understand someone’s age, but also make sure you really understand what their focus is, so you can tailor your approach to their life stage.”
Citi Private Bank, which has 48 offices around the globe and approximately $460 billion in assets under management, named Natalia Murphy as the Head of Trust and Wealth Planning for North America on Tuesday. Murphy, who was previously a wealth planner with the private bank, will be responsible for the business strategy of wealth planning and further develop Citi Trust in the U.S. and Canada. She’s replacing Adam von Poblitz, who was recently named the new Global Head of Cross Border Wealth Planning.
Financial technology company SmartAsset has launched a new tool that matches financial advisors with qualified prospects. The program, called SmartAdvisor, delivers client leads to advisors vetted to investible assets, location, income and other indicators. The service does not require a monthly subscription or minimum spend; advisors only pay for the leads delivered. Through partnerships with organizations like Kiplinger’s, CNNMoney, Reuters and MarketWatch, SmartAsset reaches more than 35 million consumers each month. In January alone, the SmartAdvisor platform matching investors to advisors had more than $4 billion in investible assets, with an average individual investor holding $750,000.