Commentary

Global Investment Forum Summary Report 2019

From September 10-12, a select group of our investment managers, economists and strategists congregated in London for our annual Global Investment Forum (GIF). The GIF is designed to tune out the day-to-day market noise and focus on key market drivers over the medium term.

Commentary

Pension Lump Sums: Thoughtful Considerations for Plan Sponsors and Retirees

The IRS recently altered course and announced that it will no longer stop employers from offering retirees a lump sum payment in exchange for their pensions. Initial reactions have been that this is very bad — comparing lump sum cash-outs to cigarettes — legal, liked and bad for you.

Podcast

Developing the next generation of financial advisors

It’s no secret that the advisor workforce is aging, and the old ways of recruiting and retaining advisors hasn’t been sufficient in meeting demand for new talent in the industry. Some firms have turned to new, unique ways of advisor development and are seeing successful outcomes for their business.

Podcast

Modern marketing: The secrets to a successful blog

Consistent client communications can be a challenge, but doing so can help bolster the relationship an advisor can have with their clients. What if that communication could potentially increase the visibility of your firm to potential new clients at the same time? A blog may be the answer.

Podcast

The do’s and don’ts of investment policy statements

An investment policy statement is an important way to document goals and the plans to achieve them. While they are not a requirement as part of an investment plan, having one in place can help keep a plan on course during times of stress and uncertainty.

Derek Sasveld joins the podcast to break down the basics of investment policy statements, including the four components of a well-written investment policy statement.

Podcast

Tax strategies to optimize your client conversations

April 15th has come and gone. And with changes to the tax code taking effect in 2018, advisors and individuals may have had a different experience than in years past. Your clients may even be turning to you for advice on how to better manage their tax planning for 2019.

Rick Kollauf joins the podcast to discuss the details of the new tax rules. Plus, he shares how getting the tax conversation right can strengthen the relationship between advisor and client.

Podcast

Power of the pipeline: Client acquisition strategies to grow your practice

In this episode, we explore strategies for building an effective pipeline system and improving your client acquisition efforts.

Our guest is Michael Salmon, founder of Salmon Academy and author of Winning More Business in Financial Services. He shares the concrete, actionable steps that you can take today to overcome your hurdles to growth, including the five strategies to meet your client acquisition goals and the importance of building and managing your pipeline.

Podcast

Funding education with a 529 plan

The cost of higher education has been climbing for many years, making it harder for families to afford to send their children to college. Most advisors are familiar with what a 529 plan is, yet only about 18% of children have these plans in place.

Mark Kantrowitz of SavingForCollege.com joins the podcast to discuss how advisors can bridge the gap and become advocates for creating college savings plans. Plus, we discuss the importance of starting early in a child’s life, even in small increments, rather than waiting until high school.

Podcast

Beyond the hype: Blockchain technology

Blockchain technology is a hot topic in the financial world. What is it, and how may this technology impact the wealth management industry in the years to come?

We’re joined in this podcast episode by Professor Lamont Black from DePaul University and Aditya Shanker from BMO Capital Markets, who both have been researching blockchain and its potential implications for financial professionals. They discuss the differences between the often-associated blockchain technology and cryptocurrencies such as Bitcoin, plus why it is important to keep an eye on how these technologies become adopted in the near future.

Podcast

Financial considerations for families with special needs

According to a 2016 Return on Disability Group report, over 56 million people in the United States identified themselves as having a disability. This demographic, along with their caretakers, requires specialized financial planning, but are often left underserved by their advisors.

Podcast

Charitable giving: Wealth management strategies for the ultra high net worth

Charitable giving is something that touches many of our clients from large to small. For many ultra high net worth (UHNW) clients, philanthropic endeavors have also become a pillar in their wealth management strategy, serving a unique and individualized need.

Susanna Poon, Director of Philanthropy Services at CTC myCFO, a part of BMO Financial Group, joins the podcast to explain how financial advisors can be the bridge between UHNW individuals with excess capital and organizations in need of capital. Assisting with this part of a client’s wealth lifecycle can help build a stronger relationship and better potential outcomes for the client and the charitable impact they would like to make.

Podcast

The delicacy of dialogue: Helping clients talk openly about money

For some people, talking about money can be a frightening task. But being more open about money with spouses and family members – and financial advisors, too – can lead to better outcomes for all parties.

Kathleen Burns Kingsbury, a wealth psychology expert and author of Breaking Money Silence, joins the podcast to discuss how advisors can dispel some common myths that clients believe about money. Plus, she shares tips on how to open up a dialogue with clients who may be hesitant to talk about their finances.

Podcast

Creating more precision with life expectancy planning

As life expectancy numbers continue to increase, the need for more careful and more precise financial planning for retirement has increased with it. A startup called Genivity, one of the winners of BMO’s 1871 FinTech partnership program in 2017, is helping financial advisors have better conversations with their clients by incorporating health history insights into the financial planning process.

Heather Holmes, founder and CEO of Genivity, joins the podcast to discuss common misconceptions about longevity and the financial planning process that has historically surrounded it. Plus, she discusses Ben’s and Emily’s results of Genivity’s HALO assessment, where clients fill out information related to their health, family history and more to help advisors set a framework for the client’s retirement plan.

Podcast

Designing the best approach to conferences

Attending a conference is a great way to network, learn about the latest trends, and to just escape from your day-to-day routine. But how do you go about selecting which conferences you should be attending? And how do you maximize what you can get out of each conference to the benefit of you and your team?

Ben Jones and Emily Larsen hosted a roundtable discussion at IMPACT® 2018 to discuss how attendees are maximizing conferences for their practice. Our roundtable guests discuss the strategies they employ for their practices, such as networking while eating, and share their tips for how to get the most of your conference attendance.

Podcast

Talking trade: From NAFTA to USMCA

In November of 2018, the United States-Mexico-Canada Agreement, also known as USMCA, was signed as a show of intention to replace NAFTA. What does this potential new trade agreement mean for markets, both domestically and globally? And what impact will it have for your clients?

Our guest this episode is Michael Gregory, Deputy Chief Economist for BMO Capital Markets. We discuss the importance that trade agreements, historically with NAFTA and looking forward to USMCA, have on North American economies, including the sectors that benefit the most from these agreements. Plus, Michael discusses the impact that USMCA may have on investors and advisors.