January / February 2024 • www . fa-mag . com

KNOWLEDGE FOR THE SOPHISTICATED ADVISOR

Seller ’ s Remorse ? Half of RIAs are unhappy with their M & A deals .

Myths About Retirement People are likely better off than they think .

Who ’ s Afraid Of Annuities ? Managed accounts used to make people skittish , too .

HE FINANCIAL SERVICES INDUSTRY SPENDS A LOT OF time discussing financial wellness , but defining precisely what it is has proved perplexing . Still , if we ’ ve learned anything over the last four years , it ’ s that financial independence only does one so much good if they don ’ t have their physical health .

At next month ’ s Invest In Women conference in West

Palm Beach on March 12-14 , advisors will be able to attend a session on surviving a health crisis and examining the roles they play , either as counselors and friends or patients themselves . The session will be led by Dr . Carolyn McClanahan , founder of Life Planning Partners , and two advisors who are cancer survivors , Antoinette Rodriguez and Tina Powell . Tina happens to be the author of this month ’ s Parting Shot column on this very subject on page 60 .

One thing survivors of serious illnesses never forget is the people who showed up for them when they got sick . If you are an advisor , it ’ s extra important — and it ’ s expected .

The reason I mention this is not simply to tout the conference but because I ’ ve seen advisors go the extra mile for people who experienced a serious illness in recent years . They are appreciated by the patient ’ s family in particular .

If , as some suspect , generational wealth transfer turns out to be a much bigger threat to the profession than robo-advisors , finding ways to connect with clients ’ children may turn out to be far more critical than many advisors think . This is a topic we intend to explore in future issues .

One thing survivors of serious illnesses never forget is the people who showed up for them when they got sick .

Economists are trying to imagine scenarios in a world that keeps defying expectations .

The biggest topic in the profession over the last five years has , of course , been the wave of mergers and acquisitions sweeping the industry . But how have those deals turned out ?

Many assume the advisors who have cashed out are sitting pretty on their boats or beaches . In this issue , contributors Russ and Jerry Prince explore the subject of seller ’ s remorse among RIAs who have sold their firms , often for lofty prices , in the last decade .

It may come as a surprise , but just over 50 % of the RIAs surveyed by the Prince team regret selling their firms . Their reasons are numerous , and you can read about them on page 29 .

This is another subject that we ’ ll be exploring from several angles in the coming months . And it ’ s a topic that Michael Kitces , uber expert on the profession , will be discussing in detail at Invest In Women on March 14 . His insights may surprise you .

Evan Simonoff

Email me at esimonoff @ fa-mag . com with your opinion .

8 | FINANCIAL ADVISOR MAGAZINE | JANUARY / FEBRUARY 2024 WWW . FA-MAG . COM