Jason Friedman 🟣

Financial advisors want to acquire more clients. At the same, organic growth is really low: 2% per year. Why is this a problem? Is it… 1. Advisors need more leads 2. Consumers need a better way to find advisors

@BuildwithPublic @public Why is this a good thing?? Why are we turning investing real $$ into a game where you can copy a “strategy” that your friend created? Also, strategy lol

You can now clone @public trading agents from other users with one click. Your friend builds a strategy- you can clone it and it runs on your account. Just clone and go.

Hypothesis: giving individual investors more tools with less control will inevitably result in more people realizing that DIY and gamifying how they manage their wealth is a bad idea. Never been a better time to be a financial advisor.

I love innovation but I think we’ll see two scary headlines over the next few months: 1. My trading agent made a mistake. Now I own 300 stocks and owe $25k in taxes. 2. Your AI trading agent made a mistake and there’s nothing you can do. You have no recourse. Sorry.

@danielcberk Buy two of them

I'm sick and tired of this. What's the best mouse to replace this abomination with?

@baby_takes Oh my

@jasonfrieds Lucky! Took me 90 minutes (TSA precheck) for Terminal B.

Terminal C LGA Took 3 minutes to get through security That is all

@MaxxChewning Yes, but an even more serious question: how much time per day do you spend looking at your portfolio now vs pre-sourstrips exit?

SERIOUS QUESTION: Will the stock market ever go back up again or nah?

@pitdesi No Amex? I’ve found the Chase Reserve to have so-so travel benefits but could be using it wrong

I am not getting the Robinhood Platinum card. My card stack is: Chase Sapphire Reserve (~4-5% on travel/dining) RH Gold (3% on everything else). I also have the United Quest card... if you fly United you should have a United card because you earn more miles even if you don't use the card. Most people who don't want to deal with complexity should skip coupon book cards. I don't hate the complexity and love getting a small win, so getting a little extra from CSR is worth it to me. I recommend the Robinhood Gold card to most people. 3% cash back on everything for a $50 annual fee. Hard to beat. The Coinbase One card gives 4% back in Bitcoin if you hold $200k+ in Coinbase. Good Deal! But I've had the worst customer service experience in history from them so I find it hard to recommend Coinbase for anything. Premium card issuers realized most people never redeem all their perks, so they could keep throwing perks in there that people forget to use, to claim $1000's of value to justify a high annual fee. It's way more profitable than offering high cash back rates, which cost the issuer on every single transaction. Coupon books let them look generous while keeping actual costs low. The RH Plat coupon book actually has things I want and use (Function Health, One Medical, etc). But they are a pain to use, not worth the hassle imo. They nickel and dime you by burying value in the coupon book with stuff that comes in monthly increments instead of giving you straightforward rewards. IMO - simple rewards beat complex perks. Pick a card that pays you on every swipe without making you jump through hoops. But if you enjoy the game then I think a 2 card strategy like mine is good.

The same people who say “AI will replace financial advisors" are the ones yelling “CONNECT ME TO A REAL PERSON” when a chatbot can’t fix their $20 delivery issue. Be honest. If you won’t trust a bot to track a package, then why would you trust one to guide decisions on your $20,000, $200,000, or $2,000,000 portfolio that you're relying on for your family's future or your retirement? When the stakes are high, money gets emotional. And when things get emotional and personal, people want to talk to a human. AI will enhance great advisors, but it won’t replace the human trust at the center of the relationship. Anyone betting against that doesn’t understand human behavior and definitely has never worked with clients before. Now, back to building AdvisorFinder (@find_advisors) on this fine Sunday.

Understood and there’s definitely an opportunity for a product like that to help consumers for easy questions. In the RIA space: Jump, Zocks, and Altruist could be building toward this in the future. You should talk with them. On the wirehouse side: seems like they are building internally. However, money is extremely emotional and i don’t think people will want to chat with a bot beyond simple requests (account balance, returns, etc).

i’m less interested in tools although I think that’s a good market too, and more about providing customers, automated and fast answers to things without needing to actually talk to a human In the fullness of time, there might be solutions that are good enough to replace some aspects of low-level financial advice as well

Who’s working on this idea: Openclaw for personal finance - integrates w all your banks/cards/etc - understands tax returns and filings - monitors portfolio and competitors - digests proprietary data sources (credit card panels, app rankings, and etc) - reads company news and X Etc etc

@andrewchen Not to replace those professions, but to help those professionals provide better service to their clients, correct? If so, many firms have tech that check most of the core boxes you listed except for the company-related items Would be pretty cool

@jasonfrieds Anyone with the wealth manager, family office, tax accountant, stock broker, etc., etc…?

Nothing says ‘I love you’ more than choosing a financial advisor together With AdvisorFinder, it’s never been easier

@MediaKing Too many to count

@jasonfrieds all of them :-)

It’s a lot harder to make $5 million in a 27 day month than a 31 day month. But I’m going to give it my best shot.

@MediaKing All the leads

We generated 18,550 sales for our key affiliate partners during the month of January.

It's no secret that financial advisors are heavily targeting millennials - they're poised to inherit $68 trillion by 2030! However, grabbing the attention of millennials is a significant challenge... Here are 2 ways to help that cost $0 1. A BETTER ONLINE PRESENCE Millennials' behavior has been shaped by their use of technology - it's crucial to remember that they will look you up online to determine whether or not they even want to meet with you. Your online presence as a financial professional conveys your trust and credibility. If you lack a strong digital footprint, it's time to fix that! - Be active on social platforms - Have high-quality pictures on your website - Make sure your website loads quickly 2. GENUINE CONTENT If you think just posting content online is sufficient, think again. The best content should resonate with people and show them you took the time to create it. Genuine content > quantity of content. Millennials will see right through it. Imagine the sheer amount of ads, threads, or posts they see coming from the wealth management industry - it's similar to standing in time square just handing out business cards. - Show people your personal side - Use videos - Show pics of your dog The future of prospecting and acquiring new clients will look different than ever. It's important to recognize the changes in people's behavior and change up your prospecting strategies to accommodate. Note: millennials value 3rd party info and expect it...

One thing I wouldn't do when choosing a financial advisor: Neglecting to ask about their succession plan. You need to know who's next in line if your advisor retires or changes careers.

Working with a financial advisor = forming a new relationship. In order for any successful relationship, you must: 1. Be open and honest 2. Be willing to communicate 3. Talk about expectations This applies to both you (the client) and the advisor.

Finding an advisor who suits your communication style is an amazing feeling. Do you prefer boardroom catch-ups or quick text updates? Make sure the advisor prefers the same. Consider this PLEASE!!!