Power Your Advice

In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on aging in place. The two discuss the importance of planning ahead for the vulnerable later years of one’s life; highlighting necessary arrangements for home maintenance and health maintenance to secure a stable future. They also discussed: Impact of unexpected events, such as natural disasters like hurricanes, on the feasibility of aging in place. The consideration of other living options, such as a continuous care retirement facility, and the significance of making such decisions early. Exploration of the concept of retirement stages, including the “gogo” phase characterized by active pursuits and the challenges that come with shifting physical and mental abilities. Importance of having a support system and family discussions when planning for aging and considering the transitions. Advisor’s role in initiating conversations about safety, preparedness, and realistic expectations for retirement. Highlighting the need for individuals to address potential risks in their homes, such as falls, and the implementation of safety measures. Encouragement for advisors to ask probing questions about clients’ plans and preparations for aging in place, facilitating a gradual and easier transition.   Resources:  NextChapter Alliance for Lifetime Income   Source

Mike Harris with the Alliance for Lifetime Income hosts an episode in conversation with Tom West, a Senior Partner at Signature Estate & Investment Advisors. In this podcast, Mike and Tom talk through retirement income planning and the risk of outliving one’s retirement savings. They also discussed: The latest research study “Protected Retirement Income and Planning” (PRIP). Consumer optimism about having enough money for retirement being low. The Importance of reducing ambiguity and educating clients for advisors. Personalizing solutions and acknowledging client concerns. Shifting consumer priorities – health concerns over financial worries. Addressing the intersection of health care and financial planning. The communication gap between advisors and clients on protection and specific risks. Handling discussions about cognitive decline with clients and families.   Resources:  Alliance for Lifetime Income Signature Estate & Investment Advisors   Source

Jim Tennies is the President and Co-Founder of InCap Group, a boutique investment bank providing sell-side and buy-side M&A advice, valuation services and capital raising assistance. In this podcast, Jim debunks the “myths” and misconceptions in wealth management M&A that may be holding you back from making informed financial decisions. They also discussed: The complexities of valuing a firm beyond just valuation multiples. The notion that selling a company equates to immediate retirement for the owner. The differences between various buyers and aggregators in the industry. The state of valuations in the wealth management market over the past 12 months. How sellers can still participate in the future growth of their company after a transaction.   Resources:  InCap Group   Source

John Langston is the Founder and Managing Partner of Republic Capital Group, a provider of investment banking services to the RIA, Wealth and Asset Management communities. The team at Republic Capital offers buy side and sell side services, merger advisory and sourcing equity and debt capital, bringing extensive experience across financial services to their clients. In this podcast, John reveals expert insights on boosting your firm’s value, from structuring success and attracting investors to navigating market dynamics and avoiding pitfalls. They also discussed: The importance of a robust succession plan and talent acquisition. The key drivers that attract investors, such as implementing a repeatable growth model and diversifying your firm’s geographic reach. Navigating the delicate balance of profitability and advisor compensation. The critical timing for focusing on valuation and why early preparation can yield remarkable results. The current market dynamics and the impact of big firms acquiring smaller ones on the industry’s future.   Resources:  RepublicCapitalGroup   Source

Sean Murray is the Head of Retirement at Envestnet. Envestnet is a firm focused on delivering an ecosystem of technology, intelligence, and investment solutions that together can support advisors in building portfolios that align with client priorities around sustainable investing. Doug and Sean talk through the upcoming wave of assets, data opportunities, and the role of generalist advisors in this must-listen podcast episode. Topics discussed: The coverage gap in smaller businesses and the impact of the Secure Act 2.0 on retirement plan creation State mandates and tax incentives driving the need for better retirement plan solutions The role of generalist advisors in the retirement plan space and the need for support from broker-dealers The potential revenue opportunities and advantages of managing retirement plans Data aggregation and access to participant-level data for advisors  Envestnet’s role in providing technology solutions, investment management, and a digital marketplace for retirement plans    Resources:  Envestnet Source

Sean Brown is the President and CEO of YCharts, Inc., an investment research platform that serves over 5,000 RIAs, financial planners, and asset managers who oversee more than $750 billion in assets.   In this podcast, Sean explains how YCharts is improving communication between clients and advisors, ultimately allowing for better investment decisions to be made. They also discussed: Why many are strongly considering leaving their advisor The change in client needs and requests since COVID Lack of communication with the client leads to a lack of confidence in financial plans How great advisors keep that confidence intact and where YCharts fits into this equation The growth of YCharts over the past three years and if the initial vision aligns with the modern firm The path forward YCharts is taking to better serve their clients   Visit https://go.ycharts.com/advisorpedia for access to the referenced communication survey and also the opportunity to take a trial of YCharts and have a 20% discount on any eventual purchase.   Resources:  YCharts Source

Jack Swift is the CEO of TIFIN AMP, a division of TIFIN and an AI-driven platform for asset management distribution. In this podcast, we’ve invited Jack to speak on the reshaping of the asset management space by AI and how the seasoned team at TIFIN AMP is ahead of the evolving industry and market. They also discussed: The key questions TIFIN AMP is looking to solve for asset managers and how the firm functions  How asset managers partner with the TIFIN AMP team and the variety in the firm’s partnerships How the firm measures success  The capabilities and advantages of the platform compared to an asset management in-house data science team    Resources:  TIFIN AMP   Source

Dr. Vinay Nair is the Founder, Chairman, and CEO of TIFIN: a platform that creates engaging wealth experiences to improve financial lives. This is all accomplished through AI and investment intelligence-driven personalization for the advised or self-directed investor. In this podcast, Vinay brings his extensive background in both the academic and business world to give us a rundown on major industry trends and the AI technology TIFIN Wealth utilizes to help advisors and firms better serve their clients. They also discussed: The early focus on AI by TIFIN and the evolution they foresee The capabilities of AI and its impact on advisors The challenges advisors are facing in terms of driving growth Firms utilizing their existing data to find new opportunities   Resources:  TIFIN    Source

Anne Aldrich is the Head of Research for the Alliance for Lifetime Income, an organization creating awareness and educating Americans about the value and importance of having protected lifetime income in retirement. In this podcast, Anne unpacks the research and studies the Alliance for Lifetime Income has been following, bringing insights into how both financial professionals and consumers can prepare and become secure in their retirement protection plans. They also discussed: The Protected Retirement Income and Planning study and what it reveals about the changing views on the security of retirement The difference between the views of investors and advisors relating to retirement income protection The opportunity for financial professionals to clarify the purpose and alternatives within the retirement planning process with their clients Advisor’s appreciation for the role that annuities can play in their client’s portfolio The 6040 portfolio and if financial professionals are open to change regarding that standard The economic shocks and other factors that are creating uneasiness about people’s retirement savings lasting their lifetime The “Peak 65” phenomenon of the US approaching the greatest surge of new retirees in history  What the data uncovers about the preparedness of financial professionals and consumers for the retirement wave   Resources:  Alliance for Lifetime Income   Source

The Power Your Advice podcast welcomes Scott Hawkins, the Head of Insurance Research at Conning. Conning serves as a leading investment management firm, supporting institutional investors including insurers and pension plans with investment solutions, risk modeling software, and industry research. Doug and Scott discuss the research themes Conning and its Insurance Research department are following, while also examining the rapidly changing product landscape and how consumers can stay consistently educated. They also discussed: The value-added differentiator Conning provides in insurance research The restructuring of annuities, an area Hawkin’s team has been following for over a decade The passage of SECURE Act 2.0 What the continued rising of interest rates has created for the annuity industry from the insurance side How AI will affect the insurance industry The opportunity in front of advisors in terms of retirement decumulation and protected products Whether Hawkins is bullish on the industry’s ability to help consumers be successful given all the current variables   Resources:  Conning Source