Navigating Through Uncertainty For AI, Cash Allocations And Innovation

Larry Roth, CEO, Wealth Solutions Report

How AI Will Affect Your Work, Caution With Innovation, Where Advisors Can Place Client Cash, Compliance Risk Of Ignoring Life Settlements, Our Weekly Recruitment Roundup And More

To My Fellow WSR Community Members:

In maritime navigation, a ship’s crew and instruments are insufficient at times to navigate a particular waterway, and the ship needs a pilot with intimate knowledge of the currents, underwater obstacles and other hazards, as well as the ability to maneuver all types of ships, large and small. These pilots, often called “harbor pilots,” steer each ship through the unseen obstacles in its path.

In the current environment of high interest rates, uncertain inflation and Fed policy, risks of recession, and rapid advancement of innovation, especially in AI, advisors and planners often feel like a ship’s crew entering a new port, in need of someone to navigate them and their clients safely through the obstacles ahead. This week we ask several industry leaders to do just that – help us navigate through pressing concerns – AI, innovation, security risk and the right places for clients’ cash allocations.

In addition, we bring you our latest weekly roundup of news in advisor recruitments, M&A, strategic partnerships and people moves, the compliance risk in ignoring life settlements, and Advisor Group’s latest recruits in Virginia and North Carolina.

This Week’s Issue

Here’s what we have for you this week:

  • Is AI the wrong thing to worry about? In Digital Domain, we talk with Adrian Johnstone, CEO of Practifi, about where AI excels today and where it is lacking, how AI affects the wealth management industry now and will in the future – including advisors’ jobs and work – and why the real focus should be managing security risk as innovation surges forward.
  • Where do you place client cash in an environment of higher rates and recession fears? In Investment Solutions & Gatekeepers, Chris Shuba, Founder and CEO of Helios; Rusty Vanneman, Chief Investment Officer, Wealth Management at Orion; and Dan Pazar, EVP at Taiko, share their insights on where advisors should place clients’ cash allocations in the current landscape.
  • Can ignoring life settlements run compliance risks? In Beltway & Beyond, life settlements gained a bad rap in the ‘90s, but there’s renewed interest today. Our Expert Columnist, Compliance and Regulatory Affairs, Sander Ressler, describes the current state of life settlements and the risks that advisors run by not considering them in holistic planning, with commentary from life settlements expert Jamie L. Mendelsohn, EVP of Ashar Group.

In case you missed it, last week in our Newsmakers & Roundups section, Advisor Group poached four advisors from Securian in Virginia and North Carolina to Capitol Financial Solutions, one of the largest affiliates of Advisor Group’s subsidiary Royal Alliance.

Send us your thoughts, suggestions, views and questions. We enjoy hearing from you!

Follow us on LinkedIn to keep atop all the latest insights and analysis, and share easily with your friends and colleagues.

Have a great week!


Larry Roth, CEO
Wealth Solutions Report

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