Financial Planning - June 2024

IN AI WE TRUST?

Advisors are faced with cutting-edge tech that will reshape the industry, as well as questions about its reliability.

Crafting financial plans can be challenging when your client has more than one life partner. Here's how advisors can best serve people in throuples, polycules and other types of relationships.

Survey results from the payment processing firm AdvicePay suggest fee-for-service models for financial planning continues to grow.

Only about a third of millennials have planned for what happens if they die or are incapacitated. Here's how financial advisors can help.

Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.

More than the wars in Ukraine and Israel and a plethora of other problems, financial advisors worry about the country's ability to pay its bills.

The lawyers representing the claimants in a recent FINRA arbitration case say they have scores of clients still seeking to secure pay they contend they're owed after departing for another firm.

Some planners and firms are taking action to address impending retirements. Here's why opening more pathways into the field matters to every company in wealth management.

Reporting requirements and asset location could loom large for clients seeking greater yield and diversification without thinking through payments to Uncle Sam.

The potential expiration of the Tax Cuts and Jobs Act leaves planners and their clients in limbo, but several strategies are in play today, experts said.

Some financial advisors and tax professionals with high net worth clients could find big advantages before the expiration of provisions of the Tax Cuts and Jobs Act.

Products with much higher yields than sweep, checking or savings accounts are available, but research suggests some advisors are missing the opportunity.

More than 60% of wealth managers know AI as ChatGPT, but hallucinations with big language applications have blocked them from using AI in finance predictions, a survey shows.

Just like the evolution of subscription-based models for Netflix and Disney, advisors are finding the cost to use cloud-based services has increased, driven in part by rapid developments in AI by tech giants like Nvidia and Google.

A new MIT study says AI could potentially adapt to an advisor's predictive and empathetic behaviors. But industry leaders argue AI is actually generating more job growth for advisors, not replacing them.

The $72 trillion generational handover demonstrates the undeniable momentum of Black wealth in the U.S.

Cash may feel safe on a visceral level, but it is not a risk-free asset in terms of preserving real value on a long-term portfolio.