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Macroeconomic & Geopolitical
Biden goes the predictable route
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After a lengthy vetting process, Democratic presidential candidate Joe Biden selected Senator Kamala Harris as his running mate for the 2020 presidential election. Though many names were floated in the past month, Harris has long been considered a favorite for the VP pick. Harris, a 2020 candidate for president herself, fits the bill as an experienced politician with liberal credentials and a knack for fundraising. In the past Biden spoke about the need to pick a VP who could lead the country if needed, and her experience in California state government and the U.S. Senate, as well as her national profile, make her a natural choice.
Client Relationships
Mental accounting: Helping clients budget their money
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A big part of a financial advisor’s work is to help clients budget their money towards different objectives and time horizons. Bucketing is a concept you may be familiar with, which can enable people to understand where their money is today, and where they want it to be in the future. The behavioral concept that provides the foundation for bucketing is known as mental accounting.
Client Relationships
Coaching clients through uncertainty
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As the coronavirus pandemic surges worldwide, we hope you and your loved ones are safe and healthy.
In an effort to support your client conversations during these times, we recorded this special episode with Steve Sanduski full of actionable ideas to help both you and your clients thrive during and coming out of this period.
Client Relationships
Turning tough conversations into better conversations
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Having a tough conversation can feel like a daunting task for everyone involved. However, there are strategies you can employ to ensure a better outcome from these conversations.
David Wood joins the podcast to discuss his four-step process for mastering tough conversations. Plus, David and Ben walk through an example of a tough conversation that you may come across as a financial advisor.
Human Capital
Fostering a diverse and inclusive culture
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Diversity and inclusion in the workplace is an important component to the success of your firm. In this episode, we’ll discuss ways to openly approach diversity and inclusion in the workplace with a desire to improve and understand.
Fellicia Foster is the U.S. Head of Diversity & Inclusion for BMO. Fellicia discusses how a diverse, inclusive culture can lead to tangible benefits for your practice, including higher performance from your team and a better understanding of your customers.
Retirement
Retirement income planning in the “new normal”
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Retirement policy, interest rates and market volatility have made retirement planning more challenging for clients and advisors alike. What are the philosophies, opportunities and challenges you need to be aware of to help your clients navigate decumulation in today’s environment?
In this episode, we’re joined by Jamie Hopkins, Director of Retirement Research at Carson Coaching and co-creator of the Retirement Income Certified Professional (RICP) designation. Jamie discusses the opportunities and challenges associated with creating retirement income in this new environment, including how to help shift the mindset of individuals to adapt to these changes.The IRS recently announced that it will allow plan sponsors to pay out pensions as a lump sum to plan participants. In this video BMO Global Asset Management discusses what considerations should be made by plan sponsors and plan participants before choosing lump sum as an option.
Retirement
Lump Sum Payouts from Pension Plans
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The IRS recently announced that it will allow plan sponsors to pay out pensions as a lump sum to plan participants. In this video BMO Global Asset Management discusses what considerations should be made by plan sponsors and plan participants before choosing lump sum as an option.
Client Relationships
Delivering Impactful Client Review Meetings
What Are Our Clients’ Expectations?