Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a survey indicates many financial planning clients are concerned about rising consumer costs, with healthcare expenses at the forefront. Which suggests financial advisors have the opportunity to offer value both by increasing their clients’ confidence in their financial plan (e.g., by stress testing it for different inflationary environments) and by recommending adjustments that are supportive of their long-term goals (while avoiding potentially reactive, short-sighted moves that clients might consider in this environment).
Also in industry news this week:
- More than half of advisor respondents to a recent survey who use AI tools in their practices indicated that they are saving at least four hours per week from doing so, with advisors at RIAs leading the way on adoption
- RIA M&A activity is on track to see a downturn in the third quarter after experiencing a brisk pace during the first half of the year, possibly reflecting firm owners’ desire to focus inwards on client service amidst economic volatility
