Wola Odeniran

While the onslaught of artificial intelligence (AI), specifically ChatGPT, has proven to be a sudden and bumpy transition, financial advisors – among many other industries – have eagerly begun trying to fit the technology into their practices. The AI chatbot has the ability to interface with clients and prospects while analyzing data and drafting memos. Still, many… read more…

Growing an advisory firm requires a coherent strategy. A 2023 survey conducted by Janus Henderson Investors and the Financial Planning Association (FPA) examines ways advisor firms can encourage growth. Read on to see the three ways advisor firms nurture leads and… read more…

The projections for the solvency of Social Security a decade from now are not good. And if something isn’t done, the trust funds for Old-Age and Survivors Insurance (OASI) and the combined Old-Age and Survivors Insurance and Disability Insurance (OASDI)… read more…

The 2024 presidential election and anticipated 2025 sunsetting of the Tax Cuts and Jobs Act (TCJA) are creating tax-related uncertainty for advisors and clients alike. But there is still time for clients, especially high-net-worth individuals, to prepare accordingly. Read on… read more…

Some banks are offering bonus cash to consumers who open new accounts. These promotions trail the high-profile failure of several banks in March and the Federal Reserve’s recent rate increases. New banking promotions may provide valuable incentives to new depositors.… read more…

The Federal Reserve hiked interest rates seven times in 2022 in an attempt to combat inflation, a fight that has proved daunting. Continuing its hawkish stance in 2023, the Fed raised rates at the first two Federal Open Market Committee (FOMC)… read more…

Saving for retirement takes a lot of time, discipline and planning. But tracking your progress along the way is easier when you set incremental goals. Luckily, T. Rowe Price has released precise savings guidelines to help people who are saving… read more…

Advisors often work with high-net-worth clients and are able to understand the expectations wealthy clients have about managing their finances. The good news is that some of those takeaways can be applied to clients who are not high-net-worth individuals. Read… read more…

Americans are coming up way short when it comes to building a sufficient nest egg for their golden years. According to Fidelity’s recently released 2023 Retirement Savings Assessment, Americans saving about 78% of what they’ll need in retirement (a 22% shortfall). In… read more…

The first quarter of 2023 was a mixed bag for many stocks. And five, in particular, were among the worst performers. According to Morningstar, First Republic Bank (FRC), Bed Bath & Beyond (BBBY), Groupon (GRPN), Lumen Technologies (LUMN) and Zions Bancorp… read more…

When it comes to Social Security, age 67 is considered full retirement age. But it hasn’t always been that way. Originally, the Social Security Act of 1935 set the retirement age at 65 years old. The age increased to 67… read more…

Estate planning attorneys and financial advisors be aware: Artificial intelligence, including tools such as ChatGPT, may have the ability to shake up legacy planning in a powerful way. In fact, ChatGPT recently passed the bar exam, scoring high marks without… read more…

When banking failures occur, depositors naturally become worried about their money. They also tend to question whether to withdraw cash from their accounts or leave it where it is. And as depositors look for a safe place to house their… read more…

With cybercrime increasing at a high rate in recent years, advisors can’t afford to overlook its impact on themselves and their clients. Cybercrime has increased by over 600% since the start of the COVID-19 pandemic and is expected to nearly… read more…

When President Joe Biden signed SECURE 2.0 Act into law in late December 2022, advisors began digesting the provisions of the legislation. The changes inside SECURE 2.0 range from new rules related to 529 college savings plans to when retirees should take… read more…

Hiring a financial advisor can be a smart move – but it doesn’t always come cheap. Fees may cut into your budget and might even disrupt how you plan to save money down the line. We’ll discuss strategies that can… read more…

When it comes to advising high-net-worth clients, financial advisors have a lot at stake. That’s especially true when it comes to helping clients steer clear of common mistakes and pitfalls. “Addressing common client mistakes looks different with high-net-worth clients because… read more…

Tax season is well underway once again. For those who got an early jump and already filed their 2022 taxes, it’s never too soon to start thinking about your tax plan for 2023. While filers shouldn’t expect a whole lot… read more…

Property taxes can make or break your budget as a homebuyer. That’s especially true if you live in one of the higher property tax states in the U.S. New Jersey, for example, has the highest property tax rate in the nation at 2.33%, while Hawaii has the lowest at 0.27%. There are 23 states with… read more…

The Securities Exchange Commission (SEC) released a risk alert related to Regulation Best Interest (Reg BI) in order to highlight deficiencies noted during examinations conducted, as well as examples of weak practices that could result in deficiencies. This regulation generally provides that broker-dealers must… read more…

A proposed rule from the Federal Trade Commission (FTC) could ban employers from binding up employees with non-compete clauses. If passed, this rule could increase career opportunities for millions of Americans. And it could change the way employers endeavor to… read more…

It’s no secret that 2022 was a difficult year in the market for stocks, but dividend stocks actually delivered solid returns for investors. And that’s good news for retirees who rely on dividend stocks as a source of income. With… read more…

As 2023 begins, advisors are looking ahead to the policy and tax changes impacting their high-net-worth clients. Those include changes stemming from the passage of Secure 2.0 Act. Read on for the 2023 policy and tax changes that advisors expect… read more…

With inflation in 2022 reaching a 40-year high, many taxpayers might wonder if they will have to pay more in Medicare premiums for 2023. Your Medicare premium will not increase because of inflation. But it has been going up steadily… read more…