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Wealthmanagement.Com Daily Brief

Wealthmanagement.Com Daily Brief

Wealth Management Take Away for Thursday, May 1.

…Because you don’t have time to read everything.





According to a Pershing report released today, “most advisors are not actively taking steps to prepare for the $30 trillion that investors will transfer to heirs over the next 30 years.”

The Take Away:

  • You are losing a huge opportunity if you don’t engage with your clients’ children.
  • 35 percent of 1,200 investors surveyed said their advisor provides family wealth management. 65 percent don’t.
  • 17 percent said their children work with their advisor.
  • Only 3 percent said their advisor has asked to meet their children.

"Many advisors often wait until the moment of transfer to engage the children or heirs of their clients, which is simply too late," says Kim Dellarocca, global head of segment marketing and practice management at Pershing. "Chances are your clients' children and heirs will have formed relationships with other advisors by the time your clients are 65.”





UBS Wealth Americas’ Investor Watch came out yesterday on the "financial dynamics of couples."

The Take Away:

  • Couples say they are equally involved in financial decisions, but they aren't.
  • Men tend to focus on investing, women on day-to-day financial management
  • Men are risk takers; women look for guarantees (“Majority of women are significantly more conservative than men” when it comes to risk.)
  • LGBT couples are more likely to take separate decision paths when it comes to money

Read the report.

More details on

The results for LGBT couples from the Wall Street Journal





Fidelity Institutional unveils the first “office of the future” for advisors in Rhode Island. Take a virtual tour here.

The Take Away: Advisors need to embrace new technology for communication and collaboration to remain relevant to younger generations of client and advisors.

Inside: hand-gesture controllers for computer screens, virtual “telepresence” robots (think an iPad running iChat on a rolling stick), tabletop tablet computers, panoramic teleconferencing cameras, and collaborative offices with video production facilities and wearable technology for advisors on the go.

It’s all based on Fidelity research into how advisors use, or want to use, technology.

According to the survey, 75 percent of advisors felt that they needed to use the latest technology to grow assets among younger clients -- investors whose assets are forecasted to be $41 trillion by 20232 and who expect a different relationship than previous generations. Gen X/Y3 investors noted three core benefits of technology in their advisor relationships: communication, collaboration and accessibility.”





Spectrum Group on What the high net worth investor is thinking. Take Away: 80 percent of HNW investors say they are better today than last year. 66 percent expect to be doing better one year from now, and 45 percent are willing to take "significant risk" with a portion of their portfolio.





Good interview with Ohio financial planner Carrie Bray on the challenges of working in a male-dominated field.

Who says stockbrokers are evil? CBS 60 Minutes profiles 104-year-old London stockbroker Nicholos Winton, who saved 669 children, mostly Jews, from the Nazis on the eve of World War II. He was on vacation.

Take a survey! is conducting some research on financial advisors and hedge funds. If you want to participate, just answer a few quick questions and you’ll get a chance to win $200.

TAGS: News
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