Open, honest, and candid discussion about May's job numbers, managed account lawsuits, OneDigital, and a 'second' golden age for the 401(k) industry. Source link

Hello and welcome to this week's edition of 401k Real Talk. This is WealthManagement.com's Fred Barstein Omnichannel RPA Contributing Editor & CEO at TRAU, TPSU & 401kTV – I Review everything from the past week's stories and pick out the most relevant and interesting ones offering an open honest and candid discussion that you wouldn't…

Sponsored by Generative AI has the potential to revolutionize wealth management. From data capture to content generation to automated workflows, generative AI enables firms to deliver customized solutions at an unprecedented scale. In this executive summary, a panel of experts in the application of generative AI share their thoughts on integrating AI into wealth management….

Brightwave, an AI-powered financial research assistant, has raised $6 million in seed funding. Decibel Partners led the round, which also received backing from Point72 Ventures, Moonfire Ventures and angel investors, including executives from OpenAI, Databricks, Uber and LinkedIn. Connected: AI Startup for Advisors Jump Announces $4.6M in Funding Brightwave claims its current client base includes…

FactSet, a global provider of data and technology to the financial services industry, has invested $12.5 million in research and relationship intelligence platform Aidentified Inc. In short, Aidentified provides tools to identify, qualify and convert new customer relationships and works with financial advisors, marketing teams and other sales professionals across multiple industry verticals. According to…

Various industry surveys over the years have shown that the larger an RIA gets, the more likely they are to use the services of more than one custodian. In my 27 years in wealth management, I can confirm that the conventional wisdom has been, regardless of the size of the RIA, “We should keep our…

Parsippany, NJ-based Summit Financial Holdings has recruited a team of advisors managing $1.9 billion in client assets in Pasadena, California. The team, led by managing partner and private wealth advisor Richard McWhorter, has created SRM Private Wealth and is joined by Merrill Lynch. SRM is the 11th team to join the Summit so far this…

Many investors, especially those who use a cash flow approach to expenses, prefer cash dividends. From the perspective of classical financial theory, this behavior is an anomaly. In their 1961 paper Dividend policy, growth and stock valuationMerton Miller and Franco Modigliani famously proved that dividend policy should be irrelevant to stock returns. Connected: Challenging the…

Sponsored by In this quick chat, David Armstrong, managing editor for Informa Connect's Wealth Management Group, talks with Leslie Tabor, director, Business Advisory Services at Schwab Advisor Services, about emerging trends and effective strategies firms are adopting to address challenges in finding new talent. From prioritizing internal talent development to engaging with the next generation…

Another former First Republic advisory team that joined JPMorgan after it bought the beleaguered bank is leaving the firm. In this case, Newport Beach, California-based duo Tim Woodall and Dustin Raring are joining the LPL. Connected: $1 billion Former First Republic team joins Citizens from JPMorgan The team, which managed about $500 million in assets…