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Articles by Adam Malamed
Why High-Net-Worth Investors Demand Ultra-High-Net-Worth Service
Adam Malamed, Chief Executive Officer, Sanctuary Wealth. The financial services industry is presumably under threat, with some believing AI will eventually replace human financial advisors. Meanwhile, others point to next-gen investors getting ideas from "finfluencers" on social media platforms such as TikTok. But the reality is that outsized wealth tends to create complexity, which means demand for experienced financial advisors will always be robust.
The Democratization of the Family Office
Advisors need to adjust to demands of next-gen clientele or risk losing assets The great wealth transfer is well underway. This is not a secret, nor am I the first person in the industry to write about it. Still, the numbers are nonetheless staggering: Generation X and millennials will inherit $84 trillion over the next few decades. $84 trillion! This is more than half of . For financial advisors in the independent channel, all of this is both an opportunity and a threat.
Four Pillars of Industry Transformation
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Talking with the CEO
Adam Malamed speaks with Tony Sirianni on the one-month anniversary of the Sanctuary Wealth/tru Independence combination At the beginning of May, Sanctuary Wealth, the national independent wealth management firm, announced the acquisition of tru Independence. Following the acquisition, Sanctuary will support approximately 120 independent wealth management firms managing over $42 billion of client assets across 30 states.
Preparing for Transformative Evolution in Wealth Management
Evolution, at its core, is about transformative change. While evolution typically happens gradually, sometimes it can seem like it occurred overnight, especially for those unprepared. We all know that change is inevitable, but in business, it’s not always positive, producing winners and losers. It’s how individual businesses, and even whole industries, prepare for evolutionary change and react when it occurs that determines success or failure.
Artificial Intelligence Will Drive Evolution, Not Extinction, for Financial Advisors
Resources Artificial Intelligence, which has been advancing for decades, has exploded onto the scene recently, creating exciting and extraordinary use cases in every field from healthcare to manufacturing. Just look at ChatGPT: The popular chatbot from OpenAI that jumpstarted the current AI conversation is estimated to have had 100 million monthly active users just two months after its launch last November, making it the fastest-growing consumer application in history.
Avoiding Costly M&A Mistakes While Driving Inorganic Growth
Greater waves of Americans needing professional financial guidance, combined with a rising shortage of financial advisors, create an unprecedented opportunity for independent wealth managers to grow their businesses—and in the process, create enduring value for their own families in the process. The obvious way to achieve such growth is through traditional organic strategies focused on client prospecting, relationship development and asset consolidation.
The Wirehouse Breakaway Train Has Left The Station
Some of the most accurate predictions about the future of wealth management were minimized – or even scoffed at – by industry pundits when they were first made 15-20 years ago. Here’s a great example: Remember when Industry leaders were raising the alarm about the aging financial advisor population as early as 15 years ago? Many of us warned about the enormous shortage of trained, licensed and experienced advisors who could take their places.
The Google Glass Flop And Lessons For Fintech Wealth Management Today
<p>Copyright Justin Sullivan/Getty Images</p> Wealthtech entrepreneurs and Fintech founders can take a few lessons away by thinking of the failure that was the launch of Google Glass. Adam Malamed | Jan 12, 2021 In the past two decades, technology has become the primary engine of growth for our national economy. Companies like Amazon have transformed how we consume information, goods and services.
A fond and grateful farewell to Ladenburg Thalmann, and hello to new beginnings
Opinion Broker-Dealers At Ladenburg Thalmann Financial Services’ annual fee-based advisory conference in January, we welcomed financial advisors, home office executives and strategic partners from across the country. Enthusiasm among the event’s participants was reinforced by new faces from our merger partners at Advisor Group, and our shared message of optimism about the future of our combined company, and our broader industry.
A fond and grateful farewell to Ladenburg Thalmann, and hello to new beginnings
At Ladenburg Thalmann Financial Services’ annual fee-based advisory conference in January, we welcomed financial advisors, home office executives and strategic partners from across the country. Enthusiasm among the event’s participants was reinforced by new faces from our merger partners at Advisor Group, and our shared message of optimism about the future of our combined company, and our broader industry.
What Advisors Should Look for in a Turnkey Insurance Marketing Partner
While the generational wealth transfer that will unfold over the next decade is expected to present advisors with unprecedented opportunities, it also will pose new challenges. Some advisors may lose assets because they failed to build relationships with clients’ heirs, or because their trust services partners’ priorities are not aligned with their own.
Behavioral finance can attract fee-based assets
Most independent firms agree that successful adviser practices in the future must become more effective in gathering fee-based advisory assets. But from there, industry views diverge. For some firms, it's solely about providing the latest technological bells and whistles for prospecting, while others purely emphasize mechanical elements of fee-based advisory work, such as portfolio construction and manager selection.
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