Excellent video overall. I think it would be really interesting if they did devote an entire episode to "family money", that is how to handle parents who are invested in risky accounts, children investing into risky assets like crypto, or family members having no financial plan while expecting you to pay for things. Its a huge topic (which could span multiple episodes), but would be great to hear what general advice one would give in such a situation, or how to approach family conversations of money and risk.
Interestingly enough, the move from many firms to only offer their 'in-house' products and to discontinue 3rd party mutual fund offerings for instance has to do with the new KYP (Know-Your-Product) rules, which seem to require a far deeper understanding from advisors about the type of product held in their clients' accounts. As a risk mitigation strategy, many firms curtailed the number of investment options that can be purchased by a client so that the KYP standards are more easily met by their advisors now that the investment choices are more limited.
Really enjoyed this discussion! Made me think about the advisors that some of my family members have and if they are really looking out for their best interests🤔
Excellent video overall. I think it would be really interesting if they did devote an entire episode to "family money", that is how to handle parents who are invested in risky accounts, children investing into risky assets like crypto, or family members having no financial plan while expecting you to pay for things. Its a huge topic (which could span multiple episodes), but would be great to hear what general advice one would give in such a situation, or how to approach family conversations of money and risk.
Really like your wig, Ben
the high heating costs are affecting us all, especially the very tall lol.
@@sheldonpetrie3706 even though heat rises ...
Interestingly enough, the move from many firms to only offer their 'in-house' products and to discontinue 3rd party mutual fund offerings for instance has to do with the new KYP (Know-Your-Product) rules, which seem to require a far deeper understanding from advisors about the type of product held in their clients' accounts. As a risk mitigation strategy, many firms curtailed the number of investment options that can be purchased by a client so that the KYP standards are more easily met by their advisors now that the investment choices are more limited.
Really enjoyed this discussion! Made me think about the advisors that some of my family members have and if they are really looking out for their best interests🤔
How can markets be efficient if Ben’s new full head of hair is no longer perfectly efficient and aerodynamic?
^^^^
Don't need it to be aerodynamic while sitting in a studio. Perhaps he puts on a swimming cap or something, when required?
*next we should sue real estate agents "house prices never go down, so you should buy now, rates will never go up"* hahaha..
@@bartz4439 Misleading information is misleading no matter how you slice it. Is this the society we want?
well one is a advisor you go there for help.
the other is a salesman.
isnt that obvious?
not saying that this is good.. but yeah idk
Very good conversation!
Great discussion as always.
Speaking of which, anybody notice that the "model portfolios" pdf comparison has conveniently disappeared from the RR website?
Nope. They are up there, for your convenience.
-Ben
I miss Ben’s shaved head so much!! Something about it was so minimalist and cool looking. It made everything he said sound objective for some reason.
The you will be happy next Thursday ...
Can you sue RIAs for continuing to recommend the 60/40 at 1% rates? Is the 60/40 dead? Cue "nothing to see here" meme.