Ron Bullis, CEO of Lifeworks Advisors, has a simple question for advisors who want to remain relevant in the coming years: “What is it that I do that is truly valuable and cannot be replicated by technology?” Bullis said that when consumers can use tools like generative AI to get the same technical answer they…

The pace of ETF launches slowed in April. After a March that saw nearly 50 new funds, managers brought 27 new ETFs to market in April. Source link

Despite the general sense of uncertainty in the market, the outlook for U.S. investors remains largely positive, according to Brian Klimke, chief market strategist with Cetera Financial Group, who delivered the keynote address “Cruise Market Dynamics: Advisers and Clients Influencing Trends” at the Conference EDGE Wealth Management at Diplomat Beach Resort in Hollywood Beach, Fla….

Each year the Internal Revenue Service (IRS) evaluates and frequently adjusts these exemptions and exclusions to account for inflation. Below are brief summaries of: (1) the most common exemptions and exclusions, (2) the IRS's adjustments to such exemptions and exclusions, and (3) what the 2024 adjustments mean for you. Annual exemption Connected: IRS issues new…

Edelman Financial Engines, the registered investment advisor with more than $270 billion in assets under management, has acquired Soundmark Wealth Management, a Kirkland, Wash.-based RIA. with more than $453 million in client assets. This is Edelman's first deal for 2024 and expands its presence in the Pacific Northwest. Soundmark, founded by Bill Schultheis, Principal and…

The first day of the Wealth Management EDGE conference included a series of panels on RIA growth, AI, investing and more, plus a conversation with Miami Dolphins coach Mike McDaniel. Miami Dolphins head coach Mike McDaniel kicked off the first day of the Wealth Management EDGE conference this week at The Diplomat Beach Resort in…

Spot Bitcoin ETFs are making some investors and financial advisors more comfortable with putting their money into digital assets, according to panelists on the “Bull or Bear: Why Investors Should Care About Digital Assets” panel at the Wealth Management Edge 2024 conference on Monday. Don Friedman, president of the Financial Professionals Digital Asset Council, Mike…

MarketCounsel, the business and regulatory compliance consultancy for independent advisors, has hired Anthony Stich, former chief revenue officer at digital guardian Entrustody, as executive director. Stich confirmed the move, which will take effect May 16, at the Wealth Management EDGE conference at The Diplomat Beach Resort in Hollywood Beach, Fla. this week. Brian Hamburger, president…

The SEC is proposing a new customer identification program following the Treasury Department's February 2024 proposal to curb potential money laundering. The program would require RIAs and exempt reporting advisers to “implement reasonable procedures” to verify the identity of each client. Advisers will be required to obtain “certain identifying information” about each client, including their…

'Wealth Effect' Stan Sattler, director of investment solutions at Belle Haven Investments, a boutique asset manager, said the trend toward separately managed accounts is due to the “wealth effect.” As interest rates rise, institutions are rebalancing to fixed income as a tactical move. These big money centers are sending more money to SMA. Sattler says…