Monthly Archives: December 2023

Episode 196 – The Scalable Future of Annuity Management with Rich Romano

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Rich Romano is the CEO and Co-Founder of FIDx, a technology-empowered network that seamlessly integrates the brokerage, insurance, and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers.

In this episode, Rich discusses the transformation of the annuity business through FIDx’s integrated platform, addressing barriers faced by advisors, changing attitudes towards annuities, and plans to enhance scalability and adoption.

They also discussed:

  • Rich Romano’s background and career journey, highlighting his experience in actuarial work, product development, and consulting in the insurance industry.
  • The inception of FIDx and its mission to revolutionize the annuity business.
  • The development of an insurance exchange in collaboration with Investnet to streamline processes for advisors working with multiple carriers.
  • The barriers faced by advisors in offering annuities.
  • Changing attitudes of advisors towards annuities, discussing the impact of market volatility, interest rates, and the evolution of insurance product offerings.
  • The role of education and technology in simplifying the annuity business for advisors, with a focus on the services provided by FIDx and its partners.
  • Trends to watch in 2024, particularly in the fee-based annuities sector, and the need for scalable solutions to enhance adoption.
  • FIDx’s plans for the future, including the development of an overlay marketplace that aligns with the practices of fee-based advisors, allowing for active management of assets with added insurance protection.

 

Resources: 

FIDx

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Episode 195 – Shaping Legacies: Charitable Planning and Family Philanthropy Dynamics with Sam Kang

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , , ,

Sam Kang is the President of Schwab Charitable, an independent 501(c)(3) non-profit organization established to make charitable giving simpler and more tax-efficient for individuals and their financial advisors.

In this philanthropy-focused episode, we unravel the latest giving trends, delve into the intricacies of family charitable planning, and gain valuable insights from industry leader Sam Kang to inspire and inform your own impactful giving journey.

Topics also discussed:

  • Donor-advised funds and their role in making charitable giving efficient and tax-smart.
  • Recent charitable giving trends, including a decline in total giving in 2022 but an increase in donor-advised fund grants by Schwab Charitable.
  • The importance of family discussions on charitable giving, allowing donors to continue their legacy beyond their lifetimes.
  • Strategies for families to evaluate charities, involving relationships, volunteering, and utilizing tools for research.
  • Resources and tools available for financial advisors to assist clients interested in family philanthropy, such as the Schwab Charitable Giving Guide.
  • Donor-advised funds as part of family legacy plans, including features for succession planning and recommending specific beneficiaries.

 

Resources: Schwab Charitable

 

A donor’s ability to claim itemized deductions is subject to a variety of limitations depending on the donor’s specific tax situation. Consult your tax advisor for more information. 

Schwab Charitable FundTM is recognized as a tax-exempt public charity as described in Sections 501(c)(3), 509(a)(1), and 170(b)(1)(A)(vi) of the Internal Revenue Code. Contributions made to Schwab Charitable Fund are considered an irrevocable gift and are not refundable. Please be aware that Schwab CharitableTM has exclusive legal control over the assets you have contributed. Although every effort has been made to ensure that the information provided is correct, Schwab Charitable cannot guarantee its accuracy. This information is not provided to the IRS. 

Schwab Charitable is the name used for the combined programs and services of Schwab Charitable Fund™, an independent nonprofit organization. 

©2023 Schwab Charitable Fund. All rights reserved. (1223-371T)

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Episode 194 – Democratizing Access to Alternatives & Portfolio Management with Alan Strauss

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Alan Strauss is the Senior Partner and Director of Investor Relations at Crystal Capital Partners: a premier independent platform connecting financial advisors to the trillion-dollar alternative investment industry. 

In this episode, Doug talks with Alan about the essential components of alternative investments driving portfolio success and financial advisor adaptability. 

They also discussed:

  • The growth of alternatives in the financial industry, emphasizing their mainstream acceptance and their role in bringing risk mitigation, lower volatility, and outperformance to investor portfolios.
  • The role of alternatives in asset allocation and their impact on portfolio creation and management.
  • Evolution of the traditional 60/40 portfolio to a more diversified approach.
  • The use of alternative strategies by advisors to drive business growth, compete with larger wealth management firms, and capture more wallet share from clients.
  • The demand for different types of alternatives, including distinctions between liquid and illiquid alternatives and the opportunities in private markets.
  • Common misconceptions about alternatives, and the importance of education to dispel these misconceptions.
  • The role of platforms like Crystal in democratizing access to alternatives and portfolio management, providing lower investment minimums, a unified interface, and tools for education and business development.
  • The importance of diversity and inclusion in the alternative space, both internally within corporate structures and in investor portfolios, with a focus on women as investors and managers.

 

Resources: 

Crystal Capital Partners

 

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