LPL’s New CEO Outlines Top Priorities
WealthManagement.com
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Rich Steinmeier , who was recently appointed to the CEO role at LPL Financial following the sudden firing of Dan Arnold earlier this month, led his first quarterly earnings call Wednesday, along with Matt Audette , CFO and president.
There were no new details on the reasons behind the recent leadership change, and Steinmeier, a long-time LPL executive, did not indicate any large change in the firm’s overall strategy.
Top Stories for this Week
ADVISOR SENTIMENT INDEX 📈
Confidence in the Economy Ticks Upward
Leading up to a highly contentious presidential election, financial advisor confidence in the economy slightly improved over the course of the month, even as stock market sentiment, while still elevated, has tapered a bit.
According to the September recent reading from Wealthmanagement.com’s monthly Advisor Sentiment Index, confidence in the economy has increased by three points, to 103, climbing slightly into positive territory from last month’s overall neutral reading of 100.
PODCAST 🎙️
Focused on the Future: Building Impactful Financial Relationships with Bryce Skaff
In this episode, veteran industry leader Suzanne Siracuse sits down with Bryce Skaff, CFA , co-head of the Global Client Group at Dimensional Fund Advisors , to explore the key ingredients for building a sustainable and impactful advisory business.
Bryce shares his inspiring journey, from an aspiring marine biologist to a leader in financial advisory, offering valuable insights into career transitions and personal growth within the wealth management industry.
UPCOMING WEBINAR
Ask the Experts: Prepare for Possible Sunset of High Estate Tax Exemption
The estate and gift tax exemption (set at $13.61 million per individual in 2024) is due to expire on Jan. 1, 2026. If Congress doesn’t act, that tax exemption will be cut in half to about $7 million. To help your clients prepare for the real possibility of a reduced exemption, you need to discuss wealth transfer strategies with them and the possibility of “clawback” (that is, the IRS deciding that money that your client has transferred will be considered part of the estate for estate tax purposes).
Our experts will discuss what the sunset will mean for your clients and how to prepare for that possibility. They’ll also answer your pre-submitted questions.
November 7, 2024 at 2:00 PM EST
WMIQ Research
How Advisors Balance Passive, Active Strategies
Active strategies are all the rage, especially when it comes to new launches in the ETF space. By all accounts, active ETFs have accounted for 70% of launches this year alone, and assets in active ETFs globally recently surpassed $1 trillion.
That aligns with the findings from a new study from WMIQ on behalf of Envestnet, Active & Passive Investments in Portfolio Construction: What Advisors Are Doing Now, which revealed that advisors are using a healthy mix of both passive and active strategies when constructing client portfolios.
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