Jarrett Lilien’s Post

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/Beo2LMr

I don't usually post about financial matters, but I saw this article and felt compelled to share. I was considering using Vanguard due to their reputation for low fees, but this news has made me rethink my decision. Vanguard is introducing several new fees that appear to target smaller investors and retirees, including a $25 fee for phone-based transactions and a $100 fee for transferring accounts under $5 million. These changes seem to disproportionately affect those who might not be comfortable with online trading or those with less investment capital. It's particularly disappointing because Vanguard was founded on the principle of avoiding unnecessary fees. Jack Bogle's vision was not only customer-centric but also smart business, as it helped Vanguard grow into a trusted financial giant by prioritizing investor interests. I hope Vanguard reconsiders these decisions, especially if they receive significant negative feedback. Here is the full article: https://lnkd.in/eyuhtXNF Are you a Vanguard customer? What are your thoughts? Did you know about these changes?

Begin or enhance your investment journey with a discovery process centered around you and your future. Fill out this easy, 4- step questionnaire to identify your goals and see where you’re at. https://lnkd.in/ee9nrXhM #retirement #financialplanning

Knowing your portfolio is on track can help you avoid common investor mistakes like cashing out of your portfolio following a market drop. Get started by completing your online discovery journey here: https://lnkd.in/ee9nrXhM #retirement #financialplanning

Is the next generation prepared to lead? A 2022 report from BNY Mellon Wealth Management and Campden Wealth reveals a fascinating insight into the NextGen of UHNW individuals' readiness for succession. While 85% of Millennials and Gen X in the ultra-high net worth bracket feel prepared to take on family business roles, only 39% of family offices believe these younger successors are ready. How do you know if the next gen is ready? Tamarind Learning's wealth education platform sets family offices up to assess skills and develop a plan for growth. By focusing on essential skills and knowledge in trusts, tax, estate planning, and financial literacy, we empower NextGen inheritors to align their confidence with the competencies required for successful wealth stewardship and leadership. Develop your plan today: https://zurl.co/Y8NE #familybusiness #familyoffice #wealtheducation #wealthmanagement

It can be challenging to gain a sense of financial confidence—that you are “on track” to achieving your goals. The best time to get started is always now and the now defines your future. See where you’re at and where you’re headed here https://lnkd.in/ee9nrXhM #retirement #financialplanning

How do you save for more immediate goals than retirement?!? What if you want to... - Buy a house - Start a business - Help kids - Early retirement - Or whatever important goals you might have prior to retirement! So many people are contributing more, more, more to their retirement, but don't have a funding source for things that pop up in life that are also important to us. Check out Leah's most recent video on our Quality of Life Planning® Youtube channel👇👇👇

If you ask a group of business owners for a show of hands of who thinks an exit plan is important, everyone’s hand will go up. But if you ask the same group what an exit plan is, almost everyone will look at you with a blank stare. Most owners do not know. So, what is an exit plan, and why will having one usually increase your net worth when it’s time for your exit payday? Great article that validates the importance of exit planning from Forbes -> https://lnkd.in/gXg2etZ4 Whether you’re contemplating retirement, a new venture, or simply safeguarding your legacy, thoughtful exit planning ensures a successful transition. Strategic Financial Advisors, LLC is here to help answer questions and provide thoughtful guidance. #ExitPlanning #StrategicFinancialAdvisors

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

⚰️ "What happens if you live too long?" Sounds great... until the money runs out. This is one of the reasons why I talk about Sustainable Wealth; do you have enough to make sure you don't live too long? We'll do this by looking at what you have now, working out what you need in retirement, and then work out what's required to close the gap. From that, we'll set out your plan for Sustainable Wealth. So, "What happens if YOU live too long?" ⚰️ DM to find out more. #coffindodgers #sustainablewealth #somersetwm Photo by Danie Franco on Unsplash