New findings from FINRA: Investors Show Affinity for Advisors over AI Generated Research
In the race to keep up with AI advancements, it seems like financial advisors just got a power boost. In early June of 2024, the FINRA Investor Education Foundation reported new research suggesting consumer trust favored financial professionals more than AI in terms of financial information.
Finfluencer Risks
Over the years, we’ve weighed the pros and cons of various social media platforms on financial literacy. Sometimes, preference for social media runs along generational lines. Lately, two trends may have combined to create an important issue for financial advisors: a reduction in attention span and the rise in so called “Finfluencer” may mean clients are relying on TikTok for financial education.
Risk Horizon: New Tools for Monitoring and Managing Investment Risk.
Recent research released in June of 2024 by MFS Investment Management may reflect that the scope of risk is shifting. These concerns include administrative and regulatory changes as well as continuing concerns about retirement readiness of plan participants. These concerns about managing volatility and adjusting for potential litigation risks may have financial advisors considering their current offerings of investment monitoring.
Unauthorized AI at Work and Cybersecurity Threats
A new report shows that a large percentage of employees are using AI at work, without their employer’s knowledge or approval. Unauthorized AI can create serious cybersecurity risks for those handling private financial information. Such use may also run afoul of the EBSA’s recommendations for retirement plan service providers.
A Difference of Opinion on the Gender Diversity in Investment Management: Food for Thought
A recent article highlighted on NASDAQ’s news page noted that demographic changes among retirees may create opportunities for more diversity among advisors. Yet, that report seems to not align with other, more recent studies. That may beg the question, what is the state of gender diversity in asset management and financial advising?
Supreme Court Allows Consumer Finance Protection Agency to Continue, But Congressional Legislation May Curtail Its Jurisdiction
A recent opinion from the Supreme Court on a regulatory agency’s funding could resolve some questions over the future of regulation of the retirement planning industry. Yet, there may also be changes on the horizon through related legislation.
