June 2023: Trends in Investing
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COVER STORY
The 2023 Trends in Investing Survey
By Danielle Andrus
Investment professionals shared where they’re putting their clients’ money and what they really think about alternative investments.
PRACTICE MANAGEMENT
The Multilayered Process of Building the Right Team
By Gerry Herbison, D.B.A., CFP®, ChFC, CASL, CLF
Creating an A-list team requires aligning values and vision before, during, and after onboarding a new team member.
FEATURE
On Climate Migration and Thinking About the Future
By Mary Martin, Ph.D.
Planners need to imagine a variety of future outcomes to make comprehensive recommendations for their clients’ full financial security.
FEATURE
Streamlining Financial Planning with ChatGPT: A Collaborative Approach between Technology and Human Expertise
By Eric T. Ludwig, CFP®, and Chet R. Bennetts, CFP®, CLU, RICP, CLF
AI likely won’t replace your job anytime soon, but those who successfully utilize it are bound to have an advantage over those who don’t.
FPA NEXT GENERATION PLANNER
Lead Article
How Mentoring Programs Can Empower Next-Gen Advisers—and Their Firms
By David Israel
Featured Article
The Good Story of Cash Flow Planning
By Matthew Jordan
Tips for the NexGen Community
The FPA Community Weighs in on Their Mentors
Planning a STUDY GROUP? Check out suggested questions and other resources to make your study group a success!
COLUMNS
Women and Retirement
Advising Women on Estate Planning
By Alexandra Armstrong, CFP®, CRPC
Navigating the technical and emotional pressure of estate planning can be a challenge.
Digital Assets
Why Bitcoin Might End Up Being Everything or Nothing
By Ivory Johnson, CFP®, ChFC
The infamous cryptocurrency has an interesting relationship with the money supply.
Tax Planning
Why Multiphase Withdrawal Strategies Beat Single-Phase Withdrawal Strategies
By William Reichenstein, Ph.D., CFA
A multiphase strategy allows planners and clients to exploit the varying pattern of clients’ MTRs over time.
Your Practice
Five Ops Problems for Planning Firms of All Sizes
By Charesse Spiller
Chances are you’ve encountered one of these challenges—or you will. Here’s what to do to be ready.
RESEARCH
Increasing After-Tax Legacy for the Next Generation by Coordinating Beneficiary Designations and Estate Plans
By Roger Young, CFP®
Income taxes can be even more important than estate taxes when passing on wealth, and that calculation can get complicated when there are two or more beneficiaries.
Earn one CFP CE® credit by reading this month's Journal and access past exams for additional credits.
DEPARTMENTS
STARTING THOUGHTS
Chatbot Bebop
Q&A
Bonnie Kirchner on Staying True to Your Clients
OBSERVER
Buffered ETFs, Crypto Regulation, New CFP Board Scholarship for Women, and an Executive Order for Family Caregivers
Stat Bank
JFP ACADEMICS
Upcoming Research
IN CASE YOU MISSED IT
The Arithmetic of Roth Conversions
By Edward F. McQuarrie and James A. DiLellio
Does paying the required tax outside a Roth conversion eventually pay off for any investor if the planning horizon is long enough?
