Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that on the heels of introducing its own self-clearing platform and acquiring fellow RIA custodian Shareholder Services Group, Altruist announced that it raised $112 million in a series D funding round, bringing its total funding to more than $290 million. The company said the bulk of the funds will go toward research and platform development as it attempts the challenging task of getting more mid-sized RIAs to move over to Altruist from their current custodian.
Also in industry news this week:
- The Foundation For Financial Planning has gotten a boost toward its goal of connecting 10,000 CFP professionals with pro bono work thanks to increased funding from Orion Advisor Solutions
- FINRA has resubmitted a proposal, now with tighter rules, that would allow a broker working remotely to supervise other brokers, without the broker’s home being designated as a branch office
From there, we have several articles on practice management:
- How delegating tasks that they don’t enjoy can not only save an advisor time, but also empower their staff
- Why technical experts can be more successful in leadership roles than ‘professional managers’
- Why one large RIA focuses on filtering prospective clients and employees to promote the long-run sustainability of its company culture
We also have a number of articles on Social Security:
- Why news stories about possible future reductions in Social Security benefits are likely leading some individuals to claim early, and what advisors could do to assuage these fears
- How advisors can help clients reduce the amount of their Social Security benefits (and overall income) subject to taxation
- A proposed strategy within defined contribution retirement plan investments that could encourage more individuals to delay claiming Social Security benefits
We wrap up with 3 final articles, all about managing distractions:
- Why focusing on what one can control can be more productive than ‘doomscrolling’ through the news
- The potential productivity and happiness benefits of doing an audit of one’s online activity
- How concerns about distraction are not exclusive to the modern era, having been shared by medieval monks centuries ago
Enjoy the ‘light’ reading!
