Top Lessons To Learn From Next Gen Advisors, Plus Latest Bizarre Industry News And How FAs Can Help Prep Sales of Businesses For Clients Who Are Tech Entrepreneurs
To My Fellow WSR Community Members:
The final days of the year inevitably prompt a burst of work-related introspection, especially when you’ve been working in a specific industry for some time and have witnessed multiple and dramatic changes to it.
In the case of wealth management, we’re right smack in the middle of tremendous demographic change. Any time generations pass, the workplace transforms.
At the individual level, most of us start professional life as the lively, wide-eyed new professional looking to change the world with new ideas and methods that are common sense to you, though your senior colleagues warm up slowly.
Then before you know it, you’re looking at large cohorts behind you as you’re in the same skit but playing the role of the senior colleague. Time flies. The most important lesson to bear in mind is that everyone has something to learn, so we’re at our best when we listen to each other.
This week we bring you expert views on how the Next Gen is reshaping our industry with new attitudes and working styles, plus how to advise tech business owner clients on an upcoming sale and our latest monthly roundup of bizarre news.
This Week’s Issue
Here’s what we have this week:
- Are you ready to go “goblin mode” next year? In Bizarre Industry Bazaar, James Miller counsels us to embrace this selfish, antisocial lifestyle as he recounts goblinish stories of investors suing Tom Brady and Shaq for losses FTX caused, Swifties spending $40,000 on concert tickets, financial infidelity, gross perversion and allegations of advisors stealing from a 97-year-old and, yes, even from the advisor’s own brother.
- How are Next Gen advisors reshaping us? In Words In Edgewise, Kristine McManus, Chief Advisor Growth Officer at Commonwealth Financial Advisors, discusses how the Next Gen of financial advisors is changing the wealth management landscape for the better, their ideals, approach to community, leveraging of technology and embracing of ESG and socially responsible investing.
- Does your client own a tech business? In our latest installment of Liquidity Events in Upmarket, we hear from Ryan Beach, President of Orion Wealth Management, Ritik Malhotra, Co-Founder and CEO of Savvy Wealth and Adam Katz, Partner at CI KORE Private Wealth, about the top three issues advisors must consider when guiding clients through the sale of a tech business.
What do you predict for 2023? Send us your thoughts, ideas and suggestions.
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Happy New Year!
Larry Roth, CEO
Wealth Solutions Report