Learning is a process that never stops. People are constantly learning throughout their lifetimes. How each person chooses to learn is as varied as the person itself. Some people love to learn through hearing an expert on a topic speak, while others learn through reading about things they would like to gain more information regarding. Other people also like to watch videos to gain information that they are looking for.

“There’s an app for that” is something that is often heard by individuals when it comes to different ways they can utilize their phone. Apps are a simple way to interface with companies or providers of a variety of services on a mobile platform. These apps often have a more mobile-friendly version of the services available through a website, or in some cases, services and features that are only accessible through the mobile version. With the continued increase in the usage of smartphones and mobile technology, it is not surprising that financial institutions have begun embracing the concept of making sure they have a robust app to accompany their services.

 There is a fine line between professionalism and friendship that many relationships do not cross. Many individuals have seen their physician, accountant, or lawyer many times over several decades of working together, which brings a familiarity to the conversations and interactions, but might stop short of being viewed as a “friend”. Other individuals start these relationships from the perspective of friends, and it develops into a professional interaction as well. The relationship between a financial advisor and investor is very similar, with some being very close friends with their advisor, while other investors keep a more professional relationship.

What do the portfolios of wealthy households look like as we enter 2023? Investable assets make up the largest share of the portfolios, however, this varies based upon wealth and age. Not surprisingly, as wealth and age increase, the amount of assets that are investable tends to increase.

The relationship between an investor and his or her advisor is complex. While the investment management process is a critical part of the relationship, in order to complete the appropriate financial planning it is important for financial advisors to develop a deeper relationship with the investor and his or her family. 

 Investors are generally very loyal to their financial advisor, according to research conducted by Spectrem Group with investors with $100,000 to $25 million of net worth (not including the value of their primary residence.) Relationships generally last for at least 15 years or longer. But many have not considered what they might do should their financial advisor retire.