This episode dives into how BetaNXT’s new CEO, Bob Santella, is revolutionizing wealth management with cutting-edge data integration, personalization, and innovative tech solutions.
Topics also discussed:
Bob discusses his plans to drive innovation at BetaNXT, aiming to help clients grow their businesses by expanding product offerings and integrating advanced technology.
He highlights BetaNXT’s new DataXChange initiative with Snowflake, designed to unify data across platforms and enhance security in wealth management.
Major challenges in the wealth management industry, such as data modernization, the rise of AI, and evolving investor needs.
The conversation explores BetaNXT’s approach to personalization, allowing clients to customize and manage wealth data for a more tailored experience.
Looking to the future, Bob anticipates that AI, new investment options, and modular cloud platforms will significantly impact wealth management trends in the coming years.
Schwab CharitableTM is an independent 501(c)(3) with a mission to increase charitable giving in the U.S. by providing a tax-smart and simple giving solution to donors and their investment advisors.
In this episode, we’re joined by Hayden Adams CPA, CFP®, the Director of Tax and Financial Planning at the Schwab Center for Financial Research, as well as Ruby Pediangco, Senior Manager, Charitable Strategies Group at Schwab Charitable.
Hayden and Ruby explore the invaluable benefits of donor-advised funds, essential tax strategies for charitable giving, and the plethora of resources available to optimize your tax planning.
They also discussed:
The offerings of Schwab Charitable which include donor-advised funds (DAFs) and philanthropic resources for tax-efficient charitable giving.
How DAFs can be used as flexible charitable investment accounts allowing contributions of various assets for tax benefits and grant recommendations to qualified charities.
Why tax practitioners highly favor DAFs in charitable giving.
Tax-smart giving strategies such as, bunching donations, using qualified charitable distributions for maximum tax benefits, and leveraging tax loss harvesting.
Utilizing appreciated assets as charitable gifts, and considerations of timing, due diligence, and potential tax implications when donating assets like real estate or businesses.
Charitable legacy planning, including selecting appropriate assets for and open communication with family members.
The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.
Schwab Charitable™ is the name used for the combined programs and services of Schwab Charitable Fund™, an independent nonprofit organization. Schwab Charitable Fund has entered into service agreements with certain subsidiaries of The Charles Schwab Corporation.
Schwab Charitable Fund 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. Once contributed, Schwab Charitable has exclusive legal control over the contributed assets.
A donor’s ability to claim itemized deductions is subject to a variety of limitations depending on the donor’s specific tax situation. Consult a tax advisor for more information.
Contributions of certain real estate, private equity, or other illiquid assets may be accepted via a charitable intermediary, with proceeds transferred to a Schwab Charitable donor-advised account upon liquidation. Call Schwab Charitable for more information at 800-746-6216.
Fair market value estimations are provided by a third-party vendor. Securities are valued on the date they were received by Schwab Charitable. For securities held one year or less, the deduction is limited to the lower of the fair market value or the cost basis on the date of the contribution.
The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.
Bill Cates is renowned as a leading authority in the realm of acquiring new clients via referrals and personal introductions. As the president of Referral Coach International and the founder of The Cates Academy for Relationship Marketing™, he brings extensive expertise to the table. Additionally, Bill hosts the popular podcast, TopAdvisorPodcast.com, and has been recognized as the top Financial Advisor Influencer by Indigo Marketing.
Adding to his impressive credentials, Bill is a bestselling author, joining us in this episode to discuss his latest release, “The Language of Referrals.”
What to Expect:
Exploration of the inner language of referrals, including self-talk, limiting beliefs, and mistaken assumptions.
Strategies to increase referability by fostering value and personal connections with clients.
Differentiation between promoting introductions and directly asking for referrals, with examples of language to use in each scenario.
Common client concerns about confidentiality and handling referrals with care.
A formula for addressing client objections and reluctance to provide referrals, focusing on acknowledgment and exploration.
The process of facilitating introductions and the importance of relevant connections.
The strategy behind providing additional resources like toolkits and guides to supplement the book.
Ways for listeners to learn more about the book and access additional tools and resources on client referrals.
Chris Price is the Assistant Vice President of Advanced Sales at Lincoln Financial Group, a firm that has been helping millions of people plan, protect, and retire for over a century.
In this episode, Chris introduces and breaks down an overlooked aspect of financial planning, beneficiary designations: the strategy that influences virtually everything a client owns.
They also discussed:
The importance of beneficiary designations in showcasing a financial professional’s attention to detail and care for their clients.
The consequences of not filling out a beneficiary designation, defaulting to government rules, and the need for periodic reviews due to changing goals and circumstances.
Timeliness of discussing beneficiary designations during annual benefit enrollments and the potential permanent problems if not addressed in a timely manner.
The role of a will as a cleanup document and its limitations compared to beneficiary designations.
Misunderstood or overlooked aspects of beneficiary designations, such as tax implications, auto revoke statutes, and conflicts within families.
Customization and planning solutions based on client needs, with a mention of Lincoln’s advanced sales team for additional support.
The potential for financial professionals to add value to clients by addressing beneficiary designations and seeking help from experienced teams like Lincoln’s advanced sales team.
Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent professional as to any tax, accounting, or legal statements made herein.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. Affiliates include broker-dealer/distributor Lincoln Financial Distributors, Inc., Radnor, PA, and insurance company affiliates The Lincoln National Life Insurance Company, Fort Wayne, IN, and Lincoln Life & Annuity Company of New York, Syracuse, NY.
The views expressed are those of the speaker and not necessarily of any Lincoln Financial Group affiliate or the broker-dealer, or any affiliates. These views are not based on any particularized financial situation, or need, and are not intended to be, and should not be construed as, a forecast, research, investment advice or a recommendation for any specific strategy, product or service. Investing involves risk including the risk of loss of principal.
Mike Harris, Senior Advisor Consultant with the Alliance for Lifetime Income, hosts an episode in conversation with Todd Zeidenberg, a Senior Financial Advisor affiliated with Allied Wealth Partners and Sutera Wealth Management. With over 30 years of experience in financial services, Todd specializes in holistic planning as well as accumulation, preservation, and income distribution, all through comprehensive investment, retirement estate, and business planning, as well as life health and disability insurance programs.
In this podcast, Mike and Todd explore the dynamic world of financial advisory, tackling communication gaps, holistic planning, and the keys to fostering trust for meaningful client interactions.
They also discussed:
Communication challenges in financial services, highlighting gaps between advisor discussions on protection and client perceptions.
Todd’s practice evolution, transitioning from a focus on protection to a holistic approach covering accumulation, preservation, and distribution.
Todd’s communication process, emphasizing the Four F’s (Family, Fun, Fitness, Finances) and the importance of trust in building client relationships.
Introduction to The Family Meeting Tree concept, encouraging discussions on wills, family agendas, and future scenarios for enhanced communication.
Four Transitions of Aging discussed: financial management, healthcare, living arrangements, and transportation.
The ethical will as a tool for clients to communicate values, wisdom, and legacy to their loved ones.
Clients seeking both financial and psychological balance in retirement, incorporating lifestyle aspects into financial planning.
Melissa Brandt is the Vice President of Annuity & Funds Management Marketing at Lincoln Financial Group: a firm that has been helping millions of people plan, protect, and retire for over a century.
In this podcast, Melissa and Doug discuss the significant shift of financial assets into the hands of US women. This exposes the need for financial advisors to build trust and assist women in securing their financial futures with solutions pointing to Lincoln Financial Group’s diverse portfolio of protection options.
They also discussed:
Melissa’s personal experiences and lessons learned from the strong women in her family.
The evolution of the relationship with financial aspects across generations, including the need for preparedness in the face of longevity.
The economic strength of women and the opportunities for financial advisors to serve female clients.
The importance of planning for clients to live longer, possibly up to 100 years, and the implications for income planning.
Key attributes women value in financial professionals, emphasizing the need for a personal connection and trust-building.
The three important areas where advisors can assist women and gain their trust.
The significance of income planning and the rising interest amongst women in guaranteed lifetime income strategies.
How Lincoln Financial Group offers a diverse portfolio of protection options, including fixed, indexed, and variable annuities with protected lifetime income, to meet the unique needs of clients.
Annuities are long-term investment products that offer tax-deferred growth, access to a lifetime income stream, and death benefit protection. There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan. All investing involves risk.
Lincoln annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.
Stephen Daffron is the Chairman and Chief Executive Officer of BetaNXT, the next wave in wealth management technology and outsourcing solutions. Join Stephen as he introduces BetaNXT, its offerings, and the challenges they are helping wealth advisors and investors address.
Topics also discussed:
Stephen’s diverse background and his journey and role in co-founding BetaNXT.
The evolving wealth management landscape, emphasizing the need for better tools and real-time data to meet changing client demands.
The challenges faced by wealth advisors, such as time spent on data gathering, are highlighted, along with the potential benefits of real-time data processing.
The acquisition of Mediant, emphasizing its role in enhancing data curation and delivery, ultimately improving the advisor-client experience.
The BetaNXT commitment to investing in firms that align with its mission of elevating the wealth management ecosystem.
Sean Brown is the President and CEO of YCharts, Inc., an investment research platform that serves over 5,000 RIAs, financial planners, and asset managers who oversee more than $750 billion in assets.
In this podcast, Sean explains how YCharts is improving communication between clients and advisors, ultimately allowing for better investment decisions to be made.
They also discussed:
Why many are strongly considering leaving their advisor
The change in client needs and requests since COVID
Lack of communication with the client leads to a lack of confidence in financial plans
How great advisors keep that confidence intact and where YCharts fits into this equation
The growth of YCharts over the past three years and if the initial vision aligns with the modern firm
The path forward YCharts is taking to better serve their clients
Visit https://go.ycharts.com/advisorpedia for access to the referenced communication survey and also the opportunity to take a trial of YCharts and have a 20% discount on any eventual purchase.
