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When in Paris…

In life, things don’t always go according to plan - but you can make the best of any situation.

Nobody knows that better than Amir Khan.

After getting stranded at the top of the Eiffel Tower with his girlfriend last week, he saw it as an opportunity to get down on one knee and make her his fiancée.

Good news - she said yes.

Jeremiah "When in Paris" Desmarais

CEO, Advisorist

In Today’s Issue 👇

• 🙈The one asset class advisors just can’t ignore anymore

• ☀️How a good morning can amplify your productivity

• 🆘Why helping more people could be your next business move

And all of the week’s biggest headlines to make you the smartest advisor in the room.

Advisors Can’t Ignore Digital Assets Anymore

Crypto is going through a bit of a bear market right now.

Both Bitcoin and Ethereum are sitting at less than half of their peak prices.

Enthusiasm for new blockchain, NFT, and Web3 projects has plummeted.

And yet, the total crypto market cap still sits at more than a trillion dollars.

🤺Crypto: Down, but not out

Crypto has shown remarkable staying power.

If you hoped to avoid dealing with digital assets as people lost interest, I hate to break it to you: crypto is here to stay, and advisors can’t ignore it anymore.

Despite the bear market, both Bitcoin and Ethereum have performed surprisingly well this year.

In part, that could be due to a series of unexpected legal victories for crypto.

⚖️Digital asset victories in the courtroom

Since Bitcoin first launched, the regulatory status of crypto has always been a bit hazy.

But courts have issued a number of crypto-friendly rulings recently, helping legitimize the asset class.

Here’s a sample of the big ones:

• A judge ruled that the SEC’s logic against a Bitcoin ETF didn’t make sense, opening the pathway for approval.

• Ripple was deemed to not be a security - although only in certain cases.

• A class-action lawsuit against Uniswap was dismissed, setting a precedent which could reduce crypto firms’ legal exposure.

🤔Where can advisors learn more?

When your clients inevitably ask about digital assets, you’ll want to be informed.

Here’s a brief collection of resources that we’ve learned a lot from.

• Fidelity Digital Assets (especially their advisor intro deck)

• Franklin Templeton Digital Assets (especially their Web3 primer)

• And a host of industry papers from influential companies like KPMG, Broadridge, and Morgan Stanley

Headline Roundup

🏠 Affecting Your Clients

• IRS piloting free direct tax filing system with 13 states [KIP]

• Survey: Workers willing to take pay cut for remote work [FTN]

• Buying home now 52% more expensive than renting [WSJ]

📈 Markets & Economy

• Bitcoin clears $35K for first time in 2023 on ETF optimism [BBG]

• Year-end forecasts rise, raising likelihood of more hikes [WSJ]

• US Treasury yields fall from 16-year high [FT]

💼 Industry Roundup

• Morgan Stanley sues advisor team that went independent [FIQ]

• 2023 RMD rules frustrate confused advisors [TA]

• Rich investors’ advisor use jumps 28 points in 14 years [RINTL]

A Morning Routine That Gets Results

Mornings aren’t always fun - especially if you’ve been tossing and turning all night.

But mornings are crucial for your productivity - they set the tone for the whole day.

🌄So, how can we guarantee a good morning?

It’s all about the power of habits.

Sticking to a set routine is the best way to build the practice of having good mornings.

But not all routines are created equal - there are specific morning habits that set successful people apart.

⚡3 habits of highly effective mornings

These 3 research-backed habits will help you start the day off right - leading to happy colleagues, satisfied clients, and a more successful you.

• Get up early. This doesn’t mean you need to be hitting the alarm at 5AM - but if you roll out of bed at the last minute, you won’t have time for an effective morning.

  Pro Tip: Try a Sunrise Alarm ☀️

• Workout. If you’re already tired in the morning, the last thing you might want to do is lace up the running shoes. But there’s no denying it - getting the blood pumping helps start the day out right.

  Pro Tip: Use a fitness tracker app to log your runs/walks. Strava is a popular one.

• Plan. The morning is your only quiet period before the chaos of the day starts. Use that quiet time to intentionally plan how you’ll be spending your time.

  Pro Tip: Use a physical planner/notebook as part of your morning routine. (The Full Focus Planner is great for this.)

🕗Morning routines have never been more important

With so many workers operating remotely these days, morning routines are absolutely essential.

Without an external structure, we need to develop our own - or we risk losing track of time, slacking off, and ultimately being unsuccessful.

With that in mind, here’s an example routine for you to try.

Feel free to adjust it to make your mornings work for you.

☀️ The Advisorist Morning Routine

1. Wake up, drink 8 oz water

2. Eat light snack

3. Jog 3 miles

4. Shower

5. Read gratitude list & journal

6. Review weekly and quarterly goals

7. Create plan for the upcoming day

8. Start work 💪

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The Best Thing I Saw All Week

During the Chicago Marathon, a lone kitten was spotted abandoned on the race's sidelines.

Sarah Bohan, a participant, didn’t hesitate to shift her focus from racing to rescuing.

Despite being close to her personal best, she and fellow runner, Gia Nigro, decided to save the feline.

Bohan has always had a soft spot for animals - in fact, she was running the marathon for the Paws Chicago team, a no-kill animal shelter.

After finding a cat mom on the sidelines who would ensure the kitten got a good home, the two jumped back in the race.

As if one good deed wasn’t enough, the two even stopped a bit later to help a fellow runner who had taken a tumble.

Although Sarah and Gia may not have won the race, they certainly won a lot of admiration for their kindness and compassion.

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.