Advisor Business
Website For Do It Yourselfers Throws Down The Gauntlet, Declares "Financial Advisors Are Bad For Your Wealth"
The battle between advisors and apps for di-it-yourselfers escalated, with Betterment, an app for investors, declaring in a headline that "Financial Advisors Are Bad For Your Wealth."
The Betterment post cites a study by the National Bureau of Economic Research, saying it found that many advisors reinforce harmful behavior because it’s in their best interest to do so. Motivated by larger commissions, the advisor/brokers encouraged bad investing behavior like frequent trades and higher-fee funds.
Suicides Linked To Economic Crisis Spike In Europe; Meanwhile, Here At Home, American Psychological Assocation Offers No Special Training For Psychologists To Treat Problems Related To Money
The suicide rate rose by 24% in Greece and 16% in Ireland between 2007 and 2009, according to The New York Times, and, in Italy, suicides by men related to financial issues between 2005 and 2010 spiked 52%. As the human toll excted by the global financial crisis becomes more evident, here in the U.S., the American Psychological Association (APA) provides no special training equipping psychologists to help people suffering anxiety, depression, and other disorders related to money problems.
Fewer Advisors Actually Make The Move To Independence Than Previously Thought
Advisors may say they want to be independent but far more decide to stay put. A new survey indicates that 70% of advisors seriously consider the move to independence. This is in line with other reports saying the trend toward independence is increasing.
Satirical Video Pokes Fun At Brokers; Alex Murguia's Latest Contribution To The Financial Advice Profession
Alex Murguia is killing.
First, the CEO of McLean Asset Management Corp. deftly led his RIA from $25 million to $550 million AUM in the last decade.
Then, earlier this year, Murguia, who holds a Ph.D. in Psychology, practically reinvents financial advisor software by founding inStream Wealth, a free online financial-advising dashboard integrated with a marketplace of solutions.
Dynasty Financial Teams With Private Equity To Incubate CPA Wealth Management
Consolidation and scale are magic words in the advisory business these days. Wealth management outsourcing firm Dynasty Financial Partners is going an innovative route to scale up fast.
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- Don't Worry About Fee Transparency -- Unless You Can't Tell The World What You Charge And Why You Charge That Amount
- Women Clients Make Up Over Half Of Many Advisors' Practices
- RIA Organization Advizent Taking The Future Of Fee-Only Advice Into Its Own Hands
- Schwab, TD Ameritrade, And Fidelity Using Social Media To Improve Service And Gain Assets Of Retail Investors
