Technology has made estate planning more accessible for advisors, meaning it can now be incorporated into financial advice as an aspect of holistic planning. Technology that makes an aspect of advisory work easier also raises the bar – pressuring advisory firms to find ways to onboard this capacity. This week, The Oasis Group provided a research report on estate planning technology to help in the decision-making process.
Also, as Founder and Managing Partner of Ascentix, I would like to congratulate Haven Tower Group, a Strategic Partner Firm of Ascentix, on the formation of the Haven Tower Alliance, including its partnership with Conway Communications and its Cardinal Haven Initiative with Cardinal Communications Strategies.
Oasis Group: ‘Fundamental Shift’ In How Estate Planning Is Delivered And Perceived
The Oasis Group released a research report on estate planning technology in wealth management that gives financial advisory firms, family offices and broker-dealers a framework for evaluating platforms and aligning technology decisions with their business models, client complexity and growth strategies.
The firm said the research reflects a “fundamental shift” in how estate planning is delivered and perceived across the sector.
Patent Perspectives: Unleashing The Entrepreneurial Spirit Of Financial Advisors
In his latest Patent Perspectives column, Pat Hynes of Prudential Advisors argues that firms must provide advisors with a strong platform that supports entrepreneurialism and community connection.
Hynes stresses that advisors need a balance of independence and support from their home offices.
The Hidden Cost Of Going It Alone: What Successful Advisors Give Up By Not Partnering
Jason Inglis of Trilogy Financial makes the case that the “solo advisor” myth is greater than the reality. He explores why the burdens of inadequate infrastructure inhibit growth and burn advisors out, while the right platform empowers entrepreneurial advisors.
Inglis argues that what is perceived as entrepreneurship can easily become “highly compensated exhaustion.”
WSRIA Roundup
This month’s roundup of top RIA news covers acquisitions by Waverly and Corient; Prairie Wealth merging with McEwen; Sowell partnering with Merchant; ECHELON reporting on M&A; recruiting by Sanctuary and Arax; Gryphon launching; initiatives by Cetera and Prosperity; Lido naming executives; and research by Oasis and AdvisorEngine.
The broad variety of initiatives continues to be on display in the RIA space as Cetera forms an employee-advisor RIA, Prosperity unites five firms and Sowell launches an advisor equity program.
Deals & Recruiting Roundup
This week’s roundup covers a minority investment by Accelerated Wealth; recruiting by Raymond James, LPL, Cetera, NewEdge and Carson; and appointments by Merit, Edelman, InspereX, SEI and Fiduciary Trust.
While M&A slowed, advisor recruiting and hiring were both strong for the week.
Growing Communication Alliance To Address PE Firms Investing In Wealth Management
Haven Tower Group launched an exclusive strategic alliance with Cardinal Communications Strategies to serve PE firms looking to expand their presence in wealth management. Often being new entrants to the space, the alliance is designed to address their need for support from experienced industry communications firms.
The Cardinal Haven Initiative aims to cover all stages of private equity ownership in wealth management, including pre-deal narrative positioning and sponsor visibility, integration, growth communications and exit readiness.
Merit Adds Execs From Edelman And Verdence
Merit Financial Advisors added Doug Moore as CFO and Sarah Mouser as Executive Vice President of Financial Planning. Merit also announced it recently launched an executive leadership development program in partnership with ClientWise.
The firm describes these moves as investments in leadership.
FMG Expands Use Of AI With Marketing Intelligence System
FMG announced the launch of its Marketing Intelligence System, an internal AI-powered platform designed to help FMG serve advisors and enterprise partners with greater speed, consistency and relevance.
By applying AI to its sales, marketing and customer-facing workflows, FMG said it aims to create a feedback loop between internal execution, product development and customer outcomes.
Dispatch Launches Software To Help Transition Advisors, Clients And Assets Between Firms
Dispatch announced the launch of Advisor Transitions, a software solution that the wealthtech firm said was designed to help transition advisors, client accounts and client assets between firms.
The firm said that the solution decreased transition times to a quarter of what was previously needed and reduced not-in-good-order (NIGO) rates by 90%.
Recruiters Keep Calling. Here’s Why I’m Not Moving.
Brandon Haines of The Wealth Plan Company, an affiliate of Strategic Blueprint, shares his story while arguing that large scale isn’t as important as relationships, decision-making and authenticity.
“Advisors do their best work when they’re trusted, empowered and close to the people and decisions that shape how they deliver their client experience,” said Haines.
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Larry Roth
CEO
Wealth Solutions Report
