It's hard to criticize the firm you work for when you've built a business that manages $2 billion in client assets. But a reality exists for many top advisors like the guests on this episode. That is, they understand how the industry and their clients' needs are evolving—and that their firm may not be equipped…

GeoWealth, a Chicago-based asset management platform, raised $18 million in growth investment funding, with BlackRock as a new lead investor. Kayne Anderson Growth Capital, which led GeoWealth's 2021 Series B financing, and JP Morgan Asset Management also participated in this round (the latter also invested in 2018). Connected: WealthStack Podcast: GeoWealth's Colin drops in on…

Savvy Advisors, the New York City-based RIA of fintech parent company Savvy Wealth, has added six new advisors, including a team that managed $300 million in client assets at Mariner Wealth Advisors. The additions bring Savvy's total number of advisors to 30 and assets under management to more than $700 million. Connected: Mariner Sues Savvy…

With life expectancy steadily increasing, especially for the wealthy, there is a real risk that customers will end up outliving their money. As such, where a customer chooses to retire is taking on even greater importance than before. A recent study by Bankrate ranked all 50 states in terms of attractiveness as a retirement destination….

Open, honest, and candid discussion about Human Interest, the use of AI advisors, more 401(k) plan haters, and the top stories so far this year. Source link

(Bloomberg) – U.S. exchange-traded funds that invest directly in Ether raised a net $107 million in their first day of trading in launches that will provide a window into mainstream crypto demand outside of Bitcoin. According to data compiled by Bloomberg, BlackRock Inc.'s iShares Ethereum Trust. achieved a net inflow of $267 million – the…

The Internal Revenue Service has issued an update on its enforcement efforts, announcing that it has collected more than $1 billion in unpaid taxes from millionaires, with payments from more than 1,200 individuals, over the past year. The ongoing initiatives are funded by the Biden-era Inflation Reduction Act, aimed at increasing the collection of tax…

Investment banking firm Robert A. Stanger & Co. raised its forecast for alternative investment fundraising from retail investors to $115 billion in 2024 after a steady first half of the year. Previously, Stanger projected about $110 billion in fundraising for the year. Fundraising for alternative investments available through the retail channel totaled $57.4 billion year-to-date…

IN “Navigating the path to product suitability”, I started a series of articles to suggest ways for agents to implement a structured approach to arriving at a safe and secure product recommendation. The approach is based on matching the prospect profile and intended use of the policy with the functional characteristics of the product, including…

On July 19, 2024, the Internal Revenue Service released the long-awaited final regulations on required minimum distributions for individual retirement accounts and employer plans. Two of the main rules addressed in these regulations are whether a particular beneficiary must take annual RMDs and whether such a beneficiary can get an extension to the 10-year limit….