Vanguard Vanguard Leans Into DC Adviser Outreach The recordkeeper and asset manager has made recent investments in consultant relationships as a tactic to grow its workplace plan and participant numbers. https://bit.ly/3XYAjom
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If you measure it by assets, wealth management is a strong growing business. However, the average age of a financial advisor is now 56 years old, and about 20% of the workforce indicate that they are five years or less away from retirement, according to a recent study from J.D. Power. Succession is a big issue for many wealth management firms and for many, finding a good financial advisor that won’t retire before you do can be difficult. The Forbes/SHOOK Top Next-Gen Advisors list features 100 top flight practitioners that were born in 1984 or later, thus most are under 40 and have long careers ahead of them. This well regarded group currently manages in excess of $457 billion in assets. FULL LIST: https://trib.al/glvgD9v #ForbesTopNextGenWealthAdvisors
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📊 In the first half of 2024, we saw dynamic activity in the investment consulting space with numerous public plans seeking specialized investment consultants to enhance their financial strategies. Major highlights include the merger of Mariner Wealth Advisors and AndCo Consulting, and significant consultant hires and renewals across various regions and asset classes. 🌟 Key Hires: City of Grand Rapids General Retirement System: Hired Mariner New York State Teachers’ Retirement System: Renewed Callan Louisiana State Police Retirement System: Hired Meketa 🔍 Ongoing searches include focuses in general asset classes, hedge funds, private credit, private markets, and more. 👉 Read the full article here: https://hubs.ly/Q02GMP300 Stay updated on these developments and explore opportunities with a free trial of Dakota Marketplace here: https://hubs.ly/Q02GMm000 #InvestmentSearches #InvestmentConsultantHires #RFPs #DakotaMarketplace #FundraisingNews
First Half of 2024 Investment Consultant Searches & Hires
dakota.com
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Had a great time at the Vanguard roadshow last week! Andrew Inwood and Core Data shared some valuable insights on adviser efficiency. The big question: should we have twice as many advisers to meet demand, or should existing advisers be twice as efficient? The answer likely lies somewhere in between. Andrew and Core Data also shared some helpful clues based on their experience in the UK. #VanguardRoadshow #AdviserEfficiency #FinancialPlanning
Another 13.8k advisers required to meet retirement needs: CoreData - Professional Planner
https://www.professionalplanner.com.au
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Retirement Living Operator in Australia? See how operators like Baldwin Living achieved legal compliance, automated manual process and utilised their data effectively. "AssetFuture helped us digitise our operations and achieve compliance in just three months. Our Asset Register allows us to track the cost of ownership for each asset, including acquisition costs, maintenance expenses and depreciation" Benjamin Baldwin, Executive Director, Baldwin Living. See the full story how the team at Baldwin Living worked with AssetFuture to achieve their goals. https://lnkd.in/di3KVkys #assetfuture #baldwinliving #assetmanagement #assetregister #assettracking #assetlifecyclemanagement #enterpriseassetmanagement #iso55001 #retirementliving #seniorliving
Baldwin Living: Vibrant and sustainable retirement living - AssetFuture
assetfuture.com
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💡Did you know more than 100,000 advisors plan to retire over the next decade? That number, which is according to Cerulli & Associates, equates to 38% of the industry’s headcount. The retirement drain only contributes to the talent shortage in the industry. So here's the big question: Does your firm have a succession plan in place? Read more via @RIAIntel below 👇
Wealth Management Has a Headcount Problem
riaintel.com
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Principal at Core Financial Service and Joint Managing Director at Compare Your Life - The home of iFace
Three things to consider when switching your super Understanding how your super works and ensuring you get the most from your fund are essential. The superannuation guarantee is a percentage of your income put aside by your employer help you fund your retirement. Superannuation counts as investing and is one of the most important long-term investments you will ever make, particularly as super is the second largest component of household wealth. Choosing a super fund and investment option may seem daunting, or simply just not on your radar. The danger is that if you don’t select a super fund for your employer to pay into, you could end up defaulting into a fund that is underperforming or end up with several funds on which you’ll have to pay individual fees. 1. What kind of investor are you? Consider first what kind of approach you’d like to take toward your super. For example, are you more of a hands-off investor who prefers to leave investment decisions to your fund’s experts? Or are you more hands-on and would prefer to mix and match investment options? For those who prefer a hands-off approach, most super funds offer a MySuper default option that invests in a diversified fund or a lifecycle offer. These are designed to be simpler, balanced, more cost-effective and less maintenance. You can also have a menu for more confident investors who would like to select from a range of investment options to build their own portfolio. 2. Compare your options Doing your own research or consult a licensed financial adviser is important. When selecting or switching super funds, there’s a range of factors you could consider including investment options, investment performance, insurance, user experience, and fees. There are online tools that can help you compare super funds. The MoneySmart website created by the Australian Securities and Investments Commission is a great place to start, as well as the Australian Tax Office’s YourSuper comparison tool. 3. Understand your fees The long-term impact of fees on superannuation balances can be significant if left unchecked. According to analysis conducted by the Productivity Commission, just a 0.5% increase in fees could cost a typical full-time worker around $100,000 by the time they retire. That’s why it’s critical to not only understand your fees but also make sure your fund is low cost. Source: https://moneysmart.gov.au/ https://lnkd.in/gnPSF5KH This advice has been prepared without taking into account your individual objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. If this general advice relates to the acquisition, or possible acquisition of a particular financial product, you should obtain a copy of, and consider, the PDS for that product before making any decision about whether to acquire the product.
Vanguard Australia Personal Investor
vanguard.com.au
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Though the defined contribution division of Franklin Templeton after the acquisition of Putnam is relatively small accounting for just $100 billion of their $1.5 trillion, like with many assets managers, it is still critical. Now led by Yaqub Ahmed, who will focus on the institutional market, and Steve McKay from Putnam leading the advisor sold segment, they are well positioned to leverage the convergence of wealth and retirement at the workplace. http://spr.ly/6048pOIG2 #wealthmanagement #RPAs #retirementadvisor #definedcontribution
Franklin Templeton Riding Convergence Wave as It Integrates Putnam
wealthmanagement.com
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This week, Wealth Solutions Report highlights a hidden threat to clients’ retirement, look at attitudes towards compliance and more: • Our Deals & Recruiting Roundup covers Mercer, MAI, Beacon Pointe, Perigon, Robertson Stephens and more • Dynasty Financial Partners affiliated advisors Christine Wang of Nilsine Partners, Derek Wittjohann of Premier Path Wealth Partners and Michael Leverty of Leverty Financial Group provide insights to guide clients when adult children lean on them for financial support • Courtney Haddad of Concurrent Investment Advisors describes a positive relationship between advisors and compliance officers • Joshua D. Rogers of Arete Wealth and Mark Healy of FusionIQ talk about their digital wealth management partnership • Marshall Wealth Management Group rebrands as Novus Wealth Group. Founder Brad Marshall comments • Modern Wealth Management buys $1.2 billion Beltz Ianni. Modern’s Jason Gordo and Beltz Ianni’s Kyle Dunn and Michelle Ross Cannan comment • Osaic recruits Cornerstone Advisors from Cetera. Cornerstone’s James Benson and Osaic’s Kristen Kimmell comment • RFG Advisory bolsters its C-suite with Abby S., Brendan Frazier and Kenneth J. Kim. Salemeh and Shannon Spotswood comment • The Money Management Institute partners with NYU Stern Executive Education to launch the Academy, aimed at NextGen professionals. MMI’s Tim Williams and Craig Pfeiffer comment READ MORE: https://lnkd.in/eDuDDKcD #WealthSolutionsReport #FinancialAdvisors #WealthManagement
An Unexpected Source Of Retirement Risk
https://wealthsolutionsreport.com
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Principal at Core Financial Service and Joint Managing Director at Compare Your Life - The home of iFace
Plan to make super catchups, if you can Here's a super free kick that's there for the taking. The free kick is in the form of taking advantage of unused concessional super contributions – the annual amount of money that working Australians can contribute into their super. When your employer makes mandated super contributions on your behalf, that money is taxed concessionally at 15%. The maximum number of concessional contributions that can be made in any financial year, including any you make in addition to your employer’s contributions, is $27,500. Yet, for the last five financial years, the Australian Tax Office has allowed what it terms “carry forward unused contribution cap amounts”. What that essentially means is that you if have not been able to contribute up to the maximum allowable $27,500 concessional amount in a previous financial year, any unused amounts you have can be carried forward (rolled over) and made in later years. You could take advantage of them by starting a salary sacrifice program through your employer, where you choose to make extra super contributions from your gross pay that are taxed at 15%. To be eligible, you must: - total super balance of less than $500,000 at 30 June of the previous financial year. - have unused concessional contributions cap amounts available. These unused amounts can be rolled over from up to five financial years ago, but not from before the carry forward super provision was introduced in 2018-19. -Unused concessional cap amounts are available for up to five financial years before they expire. How to find out if you have unused amounts You can check your carry forward unused concessional contribution amount online via your myGov account with the ATO. After logging in, select Super - Information - Carry forward concessional contributions, and your unused balance should be viewable. For many Australians the unused portion of concessional contributions available from previous financial years may amount to tens of thousands of dollars. The caveats are that you must not have made concessional contributions in the financial year that exceeded your general concessional contributions cap and as noted, your total super balance must be below $500,000 as at 30 June of the previous financial year. Super and retirement planning is a complex area. Take care to understand the contribution types and limits carefully as there are significant tax penalties for exceeding the applicable contributions caps. If you’re unsure about your super options before 30 June and need some advice, come and talk to us today! Source: https://lnkd.in/gjbwFHna This advice has been prepared without taking into account your individual objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.
Vanguard Australia Personal Investor
vanguard.com.au
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