Excessive swapping of variable annuity contracts has now become a focus among securities regulators. who say the activities potentially amount to a form of churning, Dow Jones Newswires reports.
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The deal between Edward Jones and Quicken is expected to appeal to next-generation clients as they begin accumulating wealth.
Many clients avoid consolidating their assets at a single firm because they don't want the hassle. Advisors say it's important when to know not only when they're most likely to want to move assets, but also what to say.
Speakers at the Association of African American Financial Advisors' growing event called for greater collaboration and many types of advocacy.
Financial advisors can avoid a conversation mismatch by focusing less on what they do, and more on what clients care about.
In sessions at last week's Morningstar conference, Dimensional Chairman David Booth, "Unreasonable Hospitality" author Will Guidara and behavioral finance experts shared tips on how financial advisors can provide valuable coaching to clients.
The head of client segments in Morgan Stanley's wealth division acknowledges AI could one day be the primary source of financial advice for mass affluent clients. Morgan Stanley advisors working with wealthier investors will have to up their games.
