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- Short Duration Income Fund
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86% of advisors say that social media helped them gain new clients
Headlines you need to know this week — June 19, 2018
Nobel laureate: Human advisors are important Despite the rise of robo-advice, human financial advisors are important to the industry, noted Nobel Prize-winning economist Daniel Kahneman at a recent conference. Communicating with a human advisor helps clients define their needs and concerns. Advisors can also help ease a client’s fears about finances. Robo advice, which has grown to more than $200 billion in assets under management, has been a disruptor in the industry, he noted.
Relationship-building is key to engage the next generation An estimated $30 trillion in wealth is expected to transfer to heirs in the next several decades. However, only about one-third of advisors have an asset-transfer plan in place, according to a recent study. About 90% of advisors say their relationship with clients is critical to their business. At the same time, the majority of advisors note they only meet once a year or less with their clients’ heirs.
Millennials hope to retire at age 56 Most millennials expect to retire at age 56, according to a recent survey. More than half (53%) expect to become millionaires, the study noted. While 38% said they have already started saving for retirement, 17% are still financially dependent on their parents.
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