“The number of our clients choosing to offer different automatic plan features continues to grow very rapidly,” said Clare Bergquist, director of 401(k) strategies at Charles Schwab. “Automatic enrollment used to be considered innovative and almost ‘Big Brotherish,’ but today, it is viewed as more conservative and almost protective.”
Despite common assumptions, child-free clients have plenty of planning complexity. Advisors shared their approach to planning for this demographic, from encouraging "no-kid dividends" to building care teams early.
A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
Thirty-seven percent of those making more than $500,000 live paycheck to paycheck, Goldman Sachs found, making this a problem for more than just lower-income workers.
The second-largest asset custodian tilts its policies toward larger firms as commission-free trading continues to eat into its business safeguarding client assets.
Advisory practice sellers frequently wish they had taken more time for important strategic tasks before the deal, David Grau of Succession Resource Group says. He provided a list explaining why the timeline will take longer than many sellers may think.
Discussions about what David Solomon's longtime heir apparent might do as CEO surfaced following news reports that Waldron could take over as soon as next year.
