Getting clients’ educational savings goals in order; Oasis Group launches research series; will AI agents supplant advisors?
Financial Planning
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CLIENT MANAGEMENT: The end of summer ushers in the beginning of the school year — and an opportunity for financial advisors to review clients' educational savings goals.
529 plans provide tax benefits and have significantly expanded their allowed uses since the Secure 2.0 Act, said Rob Walsh , president of Birds Eye Wealth Planning in Neptune, New Jersey. Here’s what he and other financial advisors from around the country recommend when it comes to planning for major educational costs.
Read: Back-to-school is a reminder for financial advisors to review clients' educational savings goals
INDUSTRY NEWS: Charles Schwab was deemed to have one of the strongest custodian platforms, and TradePMR ranked for the best trading capabilities among 10 peers, according to a new in-depth study performed by The Oasis Group , a wealth management consultant.
The study released on August 27 is the first in a series of research reports, called Vantage Point Peaks, that Oasis Group plans to publish about every quarter. The reports are meant to better inform wealth management firms seeking a new custodian or tech provider when they're breaking away or changing partners.
WEALTH TECH: Conventional wisdom in the wealth management industry holds that clients will always turn to trusted human advisors when faced with financial crises and milestones, despite rising and impressive AI capabilities.
But could app-less AI agents change that? With their potential to scale processes while eliminating the need for other systems, it’s a real possibility, says Jean Sullivan of Celent; these tools are still in development.
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