The Future of Financial Advice: The Rise of Digital RIAs

The Future of Financial Advice: The Rise of Digital RIAs

Digital RIAs, or registered investment advisers that offer financial advisory services through online platforms, are gaining popularity due to their affordability, low investment requirements, and user-friendly interfaces. While traditional in-person RIAs offer a more personalized approach to financial planning, digital RIAs cater to the needs and preferences of younger tech-savvy clients seeking accessible and convenient financial advice. The rise of digital RIAs signifies a fundamental shift towards a more accessible, affordable, and technologically-driven approach to financial advice.

Why hire a Registered Investment Adviser (RIA) as your financial expert

Why hire a Registered Investment Adviser (RIA) as your financial expert

In the ever-fluctuating world of the stock market, finding stability amidst volatility is crucial. This is where registered investment advisers (RIAs) come into play, offering valuable guidance and comprehensive financial advice to help investors weather the ups and downs. With a fiduciary duty to act in their clients' best interests, RIAs provide unbiased and objective advice, transcending mere investment portfolio management. By taking a holistic approach to financial planning, including retirement, estate, and tax planning, RIAs offer a calm and knowledgeable presence during uncertain times, guiding clients away from hasty decisions that could harm their long-term financial wellbeing. Choosing the right RIA, tailored to individual financial goals, location preferences, and specific needs, is key in navigating market volatility successfully. With thousands of RIAs available, industry rankings can assist in finding the right fit. Ultimately, enlisting the help of a trusted RIA can provide investors with peace of mind and a firm foothold amidst market turbulence, ensuring a stronger financial position in the long run."

‘I Didn’t Want to Shut My Doors’: Businesses Find Ways to Survive

As seen in the New York Times Wealth Matters Section

Sitting back, glass of wine in hand, John Kapon, the bespectacled chairman of Acker Merrall & Condit, a 200-year-old shop for fine and rare wines, leads scores of wine lovers in twice-weekly tastings.

Taking social-distancing mandates to heart, Mr. Kapon conducts the tastings using the teleconferencing platform Zoom as an extension of his business, a virtual function that he and other small-business owners had never contemplated before the pandemic wreaked havoc on the U.S. economy.

More than 5.2 million workers joined the tally of the unemployed last week, the Labor Department reported on Thursday, bringing the four-week total to about 22 million.

Faced with plunging sales as nonessential businesses are closed and more Americans lose their jobs, entrepreneurs are getting savvier about reaching their customers.

Mr. Kapon has set up a system in which wine aficionados can order ahead to have the bottles delivered before the tasting. The hourlong sessions are followed by continued discussions on Instagram Live with prominent wine figures who take questions from people at home.

“The backbone of our company is to drink and share great wines with our clients,” Mr. Kapon said. “Wine is meant to be shared. The Zoom format allows you to be with 50 or 60 people.”

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