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Josh Brown spoke with Sarah Solomon about why financial planners are reporting record-high compensation and job satisfaction, Robinhood's aggressive expansion into wealth management and advisor recruiting, and how SpaceX employees are teaming up to negotiate lower advisory fees ahead of the company's anticipated IPO. (Listen)
Good Stuff This Week
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Independent RIAs have had a weakness. Many bank-like services still requires, an actual bank. Flourish has already made inroads with held-away cash. Now they want to add mortgages to the mix. By integrating with Orion the work flows could very well make existing banking relationships superfluous.
This finding is interesting because the researchers were able to isolate the effects of dementia on net worth. They find that impaired financial decision-making is the most likely source of the divergence. Any number of things can go wrong during retirement, but the use of an advisor can help offset the potential downside of impaired decision making.
The Rest of the Story
How to better help business owner clients at different stages in their journey. (Kitces)
Charles Schwab has Fidelity 401(k) business envy. (RIABiz)
Bank tellers are often the last line of defense against financial scams. (New York Times)
Not RIA-specific, but a good overview of how corporate PR has shifted, including the reach of LinkedIn. (Wealth Actually)
Why so many people want to leave the rat race and move to Europe. (Your Brain on Money)
Why ‘die with zero’ doesn’t work. ‘Memory dividends’ are overrated. (Jordan Grumet)