Enjoy the latest installment of Weekend Reading for Financial Planners. This week’s issue begins with news from a recent survey that shows investors overwhelmingly believe artificial intelligence (AI) can help financial advisors improve customer service, and want to work with them. Advisors using AI tools. And despite the concerns of some industry observers that AI tools may eventually replace human advisors, the overwhelming majority of those surveyed felt that AI could replace human advice. He said he did not expect to be replaced. And it is against this backdrop that several AdvisorTech tools have added his AI capabilities to further streamline middle and back office tasks and processes for advisory firms.
Industry news of the week:
- The CFP Board has adopted a set of revised rules of procedure, including the establishment of a function to conduct “informal investigations” in response to complaints, to better identify potential misconduct.
- A patent that would allow Vanguard to launch ETFs as a stock class of existing mutual funds expired this week, but it’s unclear if other asset managers will take advantage of the new opportunities.
Here are some articles on healthcare management.
- What Actions Advisory Firm Managers Can Take When They Realize There’s Too Much To Do
- How advisors explore different avenues of their own once they have a strong customer pipeline
- How an advisory firm owner changed his business to work for him instead of vice versa
There are also many articles on cash flow and assets.
- One potential framework for describing wealth levels, from not caring about debt to not caring how much you spend on travel
- Why Having ‘FU’ Money Isn’t Always The Key To Freedom And Happiness
- In general, it has long been assumed that buying ‘experiences’ rather than ‘things’ makes individuals happier, but recent research suggests that a more nuanced view may be warranted. It is suggested that there is
Finally, we conclude with three articles on gender and money.
- Why men and women often have different views on what retirement means to them
- Why telling women to act more confident is unlikely to improve the gender pay gap, and what employers can do to level the playing field
- Previous research has found that women report worse mental health than men, but new research suggests the reality may be more nuanced. there is
Enjoy your “light” reading!