Top news articles for financial advisors and personal finance
Week of 5/23
This week's recap focuses on American sentiment on personal finances, deciding when to fire a client, considering buying a remodel or teardown for a dream home and virtual reality in wealth management.
Yields are Rising. Advisors Weigh In on Where to Stash Cash (Steve Garmhausen, Barron’s)
With an increasing influx of worry over the past few months, knowing where to stash cash in the short term can be beneficial to your portfolio. In this article, advisors weigh in on where they’re seeing the most yield with their clients’ assets. Read more to learn where you should be placing your hard earned money.
Americans Reported Strong Personal Finances Late Last Year, Fed Finds (David Harrison, WSJ)
A survey conducted last fall shows that more Americans felt financially better off compared to previous years: “78% of adults said they were either doing OK or living comfortably, up from 75% in 2020 and the highest share since the survey began in 2013.” Read more to find out what caused Americans to feel this way
The Case for Firing That Client, After This Documented Procedure (Tobias Salinger, Financial Planning)
Advisors cited that serving too many non-ideal clients was one of the biggest challenges to productivity. Given that the majority of an advisor's time is spent on client-facing activities, it becomes even more important for advisors to have the right clients. Read more to find out when and how advisors should let certain clients go.
Buying a Dream Home? In This Market? For Some Buyers, a Remodel or Teardown Makes More Sense (Robyn A. Friedman, WSJ)
With how hot the housing market currently is, many buyers are struggling to find their next home. The lack of inventory means that for some a remodel or a teardown might make the most sense. Read on to find out what you should consider before deciding to commit to a remodel or teardown.
Is There Room for Virtual Reality in Wealth Management (Scott Reddel and Jess Murray, Financial Planning)
Virtual reality and augmented reality have been gaining traction in all fields and industries, but who would have thought it would have applications in wealth management. Last year, J.P. Morgan announced that they would use augmented reality when advisors discuss market insights with their clients. Read more to learn about potential areas where advisors might begin seeing virtual reality and augmented reality.
