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Weekend Reading For Financial Planners (June 8-9)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that recent surveys indicate that consumers continue to trust human financial advisors more than Artificial Intelligence (AI)-powered tools. Nonetheless, respondents (particularly those in younger generations) do not see this as an either-or choice, but rather anticipate benefitting from working with human advisors who leverage AI tools for certain tasks (e.g., detecting fraud or analyzing data) to provide a better client experience!

Also in industry news this week:

  • Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients
  • The American College of Financial Services is launching a new certification focused on tax planning, offering an opportunity for financial advisors to dig deeper into an increasingly valuable part of the planning process

From there, we have several articles on investment planning:

  • Why real estate, high-yield corporate bonds, and cryptocurrencies might not offer the diversification benefits one might assume
  • How exchange funds can potentially help advisors and their clients reduce concentration risk in a tax-efficient manner
  • Why today’s stock market concentration is not necessarily an outlier in historic terms and might not actually be detrimental to client portfolios

We also have a number of articles on the intersection of financial planning and disabilities:

  • How financial advisors can support clients whose child has a disability, from helping them balance their own financial needs with those of their child to leveraging accounts that do not disqualify individuals with disabilities from receiving government benefits
  • Why having an ADA-accessible website not only can help financial advisory firms avoid potential legal trouble, but also attract more clients in the process
  • How advisors can support the estate planning process for clients with a disabled family member, from confirming the clients’ goals are communicated clearly to ensuring that any special needs trusts are administered properly

We wrap up with 3 final articles, all about spending time well:

  • The value of not only considering one’s own lifespan and “healthspan“, but also those of loved ones when it comes to setting goals and making plans for the future
  • Best practices for going on a sabbatical that will allow an individual to truly unplug and reflect on their personal and/or professional lives
  • How engaging in a “depth year” can be a more meaningful alternative to constant accumulation

Enjoy the ‘light’ reading!

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