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!
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