Thursday, August 18News That Matters
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Tag: advisory

FA 100: CNBC ranks the top-rated financial advisory firms of 2020

Finance
Finding the right financial advisor to help with your financial needs and goals can be complicated.There are so many things to consider. Many advisors use a big assets-under-management figure as a selling-point when marketing themselves to investors. However, AUM isn’t the whole story when a potential client is determining which firm is right for them.To be sure, every financial advisor has his or her own area of expertise. Each will have a different investment strategy and planning approach and offer various services, including tax and insurance planning, debt management, retirement planning, saving for education and charitable giving.A financial advisor can play a major role in helping clients grow and protect their wealth. The key is to find an advisor you trust, and it’s important to m...
Morgan Stanley launches new advisory technology platform

Morgan Stanley launches new advisory technology platform

Finance
Morgan Stanley is ramping up its fight to distinguish its wealth management business in one key area: technology. The firm on Monday launched WealthDesk, a new platform for its army of 15,000-plus financial advisors. The idea of the platform is that it will provide financial advisors with one dashboard where they can go for all of their financial planning, advice and implementation tasks. The effort is part of a broader technology strategy at the firm. Morgan Stanley has rolled out a tool named Next Best Action, which uses artificial intelligence to h...
What you don’t know about advisory fees is costing you

What you don’t know about advisory fees is costing you

Finance
Would you ever buy a house or a car without knowing the cost up front? Of course not. Yet Americans are put to this test every day when it comes to an even bigger financial decision — choosing a financial advisor to manage their life savings.A surprising number of people have no idea how much they're paying their advisor, but this confusion isn't their fault. Fees can be torturously complex, buried in fine print or described so ambiguously that it's impossible to decipher them. Too often, an advisor hands a new client a 100-page brochure that lists every possible fee he or she might pay. With so much information, it takes a Ph.D. to figure out what you're actually being charged.American investors are paying as much as 3.5 percent per year in advisory and fund fees. And while the difference...