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In this episode, we discuss why The Great Wealth Transfer is often overstated and we add some nuance to that conversation, how wealth managers should rethink their strategies to better serve the next generation, what product innovations are true innovations and which are overhyped and why next gen investments like tokenization & sports betting may be here to stay, for better or for worse

• Why does Chip believe that the traditional narrative around “The Great Wealth Transfer” is overstated and how there is an under appreciated horizontal wealth transfer happening right now. What does this mean for advisors in practice?
• How should wealth managers rethink their client strategies to serve this next generation effectively?
• How does Chip see independent advisors competing in a landscape that includes “The Big 4,” roboadvisors and other new developments?
• How might the trends of RIA mergers, and the growing number of companies that run 401k plans, might affect everyday investors and financial advisors?
• What product innovations excited Chip most and which does he think are overhyped?
• Are “next gen investments,” such as sports betting, tokenization and meme coins, just fringe curiosities or signals of something broader in terms of investing?
• What best practices, in terms of marketing, does Chip see that separates firms that grow versus ones that stall?
• How far does Chip think we are from genuine, scaleable human-grade AI advice?
• Across investment management, wealth tech and advice Chip sees venture capital, mergers & acquisitions and IPOs accelerating – in short, what does this mean for advisors choosing partners or platforms?
• What is Chip’s headline for where the industry is heading in the next 3-5 years?
• How does Chip maintain his energy, decision making clarity and balance?
• What habits or practices does Chip believe consistently show up among the top performers in their field?
• If Chip had to summarize his personal philosophy on performance, professional or personal, what would it be?

Quotes

“The generational wealth transfer is the headline, yes it’s 100 Trillion, but don’t forget about the liquidation, don’t forget about the spouse-to-spouse horizontal transfer and don’t forget about healthcare expenses at the end…that [money] will go to the insurance company, not to the kids.” – [03:48] Chip Roame

“On the horizon, we would suggest that…the consolidation of the consolidators…is coming to a station near you soon here. You’re going to wake up someday and Mercer will have bought Mariner, or Mariner will have bought Cap Trust…or something like that. You’re going to see the big firms start merging with each other at some point. Again, if you know history, that’s how the wire houses became the wire houses…so nothing all that unique about predicting the consolidation of the consolidators, but you haven’t really seen it get started yet, so I think that’s going to happen.” –  Chip Roame

Links

• Chip Roame on LinkedIn
• “The Itsy Bitsy Spider”
• Tiburon Strategic Advisors

Connect with Us

• Rusty Vanneman on LinkedIn
• Robyn Murray on LinkedIn

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