GEOTHERMAL • CLEAN ENERGY • RIA
In this week’s newsletter explore an interesting graphic visualizing U.S. wealth broken down by generation. In our news section check out a discussion on enhancing your money conversations with clients, a new 3D printing construction technology, a next-generation geothermal power plant and more.
Also, we’re excited to our new podcast series, The Advisor View. Tune in to our first episode as we chat with Bruce Herbert, founder and Chief Executive of Newground Social Investment.
Let’s jump into it.
We send out our newsletter every Friday with the most interesting content we’ve found that week.
source visualcapitalist.com
“The key point is that advicers who can develop their conversational skill set will not only do a better job of getting their clients to buy into their financial plans, implement the advice they’re offered, and (ultimately) achieve their goals, but they’ll also be better equipped to stand out in an increasingly crowded marketplace. And by greeting a client with genuine empathy, an advicer can create space in a conversation for the client where they can both explore deeper issues, arrive at impactful decisions, and engender a long relationship built on trust and meaningful human connection!”
“Texas-based ICON has made headlines recently that involve the moon, Mars, and even Vulcan. Now the 3D printing company has rolled out a state-of-the-art contraption called Phoenix that can build 27-foot-tall, two-story buildings from foundation to roof components with cleaner materials. Better yet, the giant arm-like device improves speed and setup time, and needs fewer operators, according to Interesting Engineering. “What we once thought was impossible is now a prototype in the field, printing its first full-scale structure,” Evan Jensen, vice president of strategic research and development, said in a video clip. He called Phoenix a ‘more advanced, more versatile system.'”
“California already gets some of its clean electricity from geothermal power plants, which harness the heat and steam found naturally near the earth’s surface. Now, the state is poised to add hundreds more megawatts of geothermal to its overall energy mix — only instead of drawing from local geysers and hot springs, the power will come from a cutting-edge project in Utah.”
“The years-long parade of freedom-seeking advisors out of the wirehouses continues unabated. Meanwhile, consolidation of RIA firms, driven by private equity’s hot money, has similar momentum. Are these trends on a collision course? The migration of wirehouse advisors to a more independent business model has been well-documented over the years. A recent Cerulli study found that the number of wirehouse advisors had declined by 10% to 43,907 over the decade ending in 2022. That study found headcount at independent broker-dealers (IBD) was down 20% over the same decade. This trend is likely to continue: The study found that over the past 12 months, 32% of the IBD advisors surveyed had considered starting their own RIA.”
We send out our newsletter every Friday with the most interesting content we’ve found that week.
Sign up now to learn the benefits of private market investing for financial advisors
Sign up now to access private market investments on Citizen Mint’s platform.
