Independence Day, Ransomware Readiness and Pop Culture Fails

Time for the Industry to Celebrate the Fourth of July While Preparing for Opportunities and Risks to Come

To My Fellow WSR Community Members:

Larry Roth

Happy Independence Day!  I hope that each of you have fun plans for an extended Fourth of July holiday weekend.

For this issue, we have a great mix of practical views on future opportunities and risks across the wealth management space, combined with some humorous experiences at the intersection of our industry and pop culture:

  • Tech Roundtable: Cybersecurity in the Age of Ransomware.  For our latest Digital Domain section, we’ve assembled a Tech Roundtable to discuss the rising risks of ransomware, and how wealth management firms can best enhance cybersecurity training to meet this challenge.  The Roundtable includes insights from Doug Besso of HighTower, Sid Yenamandra of Entreda, Jeff Nash of BridgeMark Strategies and Sindhu Joseph of CogniCor.
Are many Super-OSJs headed towards a mass extinction event?
  • Will Super-OSJs Overly Reliant on Margins and Pricing Go Extinct?  Independent broker-dealers are increasingly ready to pull the plug in supporting Super-OSJ groups that don’t add meaningful value – Or at least, that’s the view of Conor Delaney of Good Life Companies.  As always, Conor, who recently rolled out a multi-brokerage platform that offers access to LPL Financial as well as Raymond James – doesn’t shy away from offering provocative perspectives.
“Not groovy, baby…according to Millennial and Zoomer financial advisors and clients.”
  • Intergenerational Pop Culture Fails…with Austin Powers.  In our most recent installment of Bizarre Industry Bazaar by Contributing Editor James Miller, WSR explores what happens when different generations within the industry have wildly different interpretations of pop culture classics.  In this case, Austin Powers is apparently “not groovy” with younger generations of financial advisors and clients, based on the experiences certain Boomer and Gen X advisors have shared with us.

Before I sign off for the extended weekend, I’d just like to say thank you to the entire WSR community for all of the messages I’ve received since last week’s issue, congratulating our team on the enhanced aesthetics and functionality of our website and other digital assets.

Please enjoy this issue’s content, share the articles you like with your friends and contacts, keep us in the loop on any feedback you might have…and have a very Happy Fourth of July!


Larry Roth

CEO, Wealth Solutions Report

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