In this episode of Contrasting Viewpoints, Ray Sclafani and Mark Hurley discuss the latest legal battles in the wealth management industry, including Merrill Lynch's TRO denial and UBS's lawsuit. They explore the impact of AI-driven RIAs and the significance of the Genius Act for stable coins. Special guest Ric Edelman shares insights on the evolving role of Bitcoin and digital assets in financial portfolios.

Takeaways:

UBS's lawsuit underscores the intensifying battle for clients and talent.
The Genius Act provides a regulatory framework for stable coins in the U.S.
Stable coins offer a stable alternative to volatile cryptocurrencies.
Financial advisors are increasingly recognizing the importance of crypto knowledge.
The intersection of technology and finance continues to drive industry innovation.

About Our Guest:

Ric Edelman is a celebrated financial innovator, educator, and author who co-founded what is now Edelman Financial Engines. Beginning in 1986 with a mission to democratize advice, he has guided the firm to manage over $300 billion in assets and serve more than 1.4 million households.

Over four decades, Ric has built a reputation not just as a successful advisor but as a thought leader — hosting #1 financial radio shows, producing television series and PBS specials, and writing bestsellers like The Truth About Money and The Truth About Crypto. He also founded the Digital Assets Council of Financial Professionals (DACFP) and helped pioneer the Certificate in Blockchain & Digital Assets to bring crypto education into the mainstream investment community.

https://dacfp.com/finra-listed-cbda-designation/

https://dacfp.com/whitepaper-0625/

https://podcasts.apple.com/us/podcast/the-truth-about-your-future-with-ric-edelman/id1603081576

https://dacfp.com/convince-your-firm/

Ric Edelman Makes the Case for Crypto (Ep. 19)