Where do you fit? Where do your services fit in the world of financial planning, investment management, and wealth advisory services? Are you a planner, an advisor, or an investment manager? Or all of the foregoing? The landscape of financial advisory services is evolving, and finding a descriptive and accurate category for your service and role is becoming more challenging. We’re having the same challenge here at DataPoints. We’re forging something of a new …
If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in yesterday’s Wall Street Journal wove an interesting pattern for me, and the interpretation might prove educational for consumers and clients. First, this: Holiday Shoppers Were …
Between 2007 and 2061, it is estimated that $59 trillion will be transferred from one generation to another. This week in the Wall Street Journal, Alex Davidson addressed how this transfer is impacting financial advisors in an adverse manner. Some cures to the problem offered in the article include ensuring that a relationship is established early with the heir, using technology as part of the financial planning/investment management process, creating videos or having clients …
There is so much we are thankful for this year…and here’s just a very short list: Our DataPoints team – for the time and dedication in working through the ups and downs of getting a business off the ground Our clients who have embraced behavioral science as a means to effectively work with their clients to ensure financial success Our advisors, partners, and beta users who have given us feedback, challenged our assumptions, and pushed …
Recently, The Wall Street Journal reported that J.P. Morgan Chase & Co.’s private banking group went through another layoff as it shifted its business strategy and increased its minimum investible assets from $5 million to $10 million. The rationale, as explained in the article, is that wealthy clients require much more attention, generate more fees, and have less risk than less lower income, middle class clients. The article continues: Wealthy clients also typically generate …