Today’s Virtual Advisor Power Hour is a special one, as Tom Hegna joins Jeremiah Desmarais to discuss the ‘Top 4 Trends for Advisors in 2024.’

We go live at 12pm EST/9am PST. 👉 Click to register for free!

🚗 Can’t We Just Be Serious?

Get ready to bid farewell to the roadside chuckles. 👋 

The U.S. Federal Highway Administration is cracking down on fun and quirky electronic signs, declaring a ban on amusing messages by 2026. 

The 1,100-page manual released last month outlines a two-year timeline for states to implement changes, emphasizing clarity and eliminating distracting or funny content. 

*sighs in dad joke*

- Team Advisorist

In Today’s Issue 👇️ 

• 2024 trends to watch for

• Why is this generation ignoring advisors?

• How to Turn Your LinkedIn Profile Into a Magnet for Prospects

🗣️ What Advisors Are Saying: ‘Buckle Up for 2024 Trends’

2023 was a rollercoaster ride for investors, with everything from global conflicts to interest rate hikes thrown into the mix. 

But here we are – on the other side of last year – with a new set of circumstances, challenges, and opportunities.

Here are 3 big trends 22-year veteran CFP Michael Aloi recently wrote about:

1. DCA vs. Cash: The Battle Begins ⚔️

Cash might be comforting, but Michael throws shade on the sidelines strategy. 

With $6 trillion idling in money markets, he's all about Dollar-Cost Averaging (DCA). 

Why? Because waiting for the "perfect time" to jump into the market is a myth. 

As he reiterates with his clients ad nauseam, 2024 could be the year to spread your bets and watch the market do its thing.

2. Utility Stocks: The Underdogs Might Rise 💡

Don't underestimate the underdogs! 

While tech stocks hog the limelight, Michael has a soft spot for the unloved stocks, especially utility stocks. 

Despite a tough 2023, these defensive stocks could stage a comeback if the economy takes a dip.

3. Own the Forest, Not the Tree 🌳

Mega-trends like AI and sustainability are the cool kids on the block. 

Michael's advice is to own the forest, not the tree. 

Instead of chasing individual stocks, he encourages his clients to grab a basket of securities riding the mega-trend wave. Keep that core diversified portfolio and sprinkle mega-trend satellites strategically.

What Are You Sounding Off on in 2024? 🗣️

You might not agree with everything Michael says, but…again…we think it’s helpful to see what others in our industry are saying.

At the very least, we’d encourage you to get clear on your thoughts for this year and to clearly communicate them to your clients.

Headline Roundup

• Study: Only 30% of Retirees Plan for How to Spend Time in Retirement [VDT]

• Bipartisan Tax Deal Could Boost Child Tax Credit for 2023 [CNBC]

• Borrowers to Take Extra Steps to Qualify for Student Loan Forgiveness [CNBC]

📈 Markets & Economy 

• Why the Launch of Bitcoin ETFs Could Threaten the Market for Gold [MW]

• Billionaires Like Jeff Bezos & Elon Musk Add $1.6T in Wealth Since Pandemic [MW]

• Corporate Debt Defaults Soared 80% in 2023 [CNBC]

💼 Industry Roundup 

• Bitcoin ETFs Could Open Floodgates to $30T Wealth Management Market [CNBC]

• Morgan Stanely Still Seeking $10T AUM Goal, Despite Slowdown [FP]

• 2,706 New Advisors Join Industry, Barely Offsetting Departures [NAPA]

🤔 Is GenNext Giving Advisors the Cold Shoulder?

GenNext is the unofficial name some are giving to the cohort of “emerging adults” between the ages of 18-34.

But it’s more than just an age bracket; it's a mindset. 

The most educated generation ever, with 1-in-3 having some college education, are smart, social, and interested in plenty of hobbies.

But they don't seem particularly concerned or interested in planning for retirement. 🤔

The Numbers Speak Louder

A recent study by Edward Jones shows some interesting trends. While they want to retire at 61, three years earlier than their older counterparts, only 12% of GenNext regularly discusses finances with an advisor. 

Why? A whopping 68% feel they don't have enough income or savings for professional financial advice.

Priorities on the Horizon

GenNext's financial priorities defy norms. 

Unlike previous generations, retirement isn’t the focal point. Instead, their financial priorities include focusing on planning for family (30%), mastering everyday expenses (28%), and diving into investments (23%). 

The Face-to-Face Conundrum

Here’s what’s interesting…

• 78% percent of GenNext doesn’t have an advisor

• Only 41% say they plan to have an advisor in the future

That’s a little concerning looking at it from our side of the desk – especially considering this cohort is set to inherit trillions of dollars in the coming decade.

Cracking the Code: Reaching GenNext

So, how do we bridge the gap with GenNext?

1️⃣ Speak Their Language: Shift the conversation from retirement to short-term goals – family planning, budgeting, and investment adventures.

2️⃣ Address the Income Dilemma: Acknowledge their concerns about income and savings. Guide them through achievable steps that help them increase their income. 

3️⃣ Embrace In-Person Connections: GenNext wants more than just digital advice. Invest time in face-to-face interactions, build trust, and provide a personal touch.

Where Do We Go From Here?

GenNext is rewriting the financial playbook, and it's time for advisors to join the dance.

It’s not that GenNext is financially irresponsible – they just have a non-traditional way of going about their financial journey.

As advisors, it’s our job to lean into that and understand where they want us to take them.

🧲 How to Turn Your LinkedIn Profile Into a Magnet for Prospects

If you’re not generating at least 7-10 appointments per month with prospects via LinkedIn, your profile is missing the mark.

That’s just the truth 🤷

But here’s the thing…any advisor should be able to do this at a bare minimum.

Those who aren’t simply haven’t been given the roadmap yet.

It all starts with overhauling your LinkedIn profile.

Most advisors spend weeks or months painstakingly planning how to do this.

But our resident LinkedIn expert Valentina Zivanovic can show you how to do it in just 3 days.

Next Monday, she’s launching a 3-Day LinkedIn Power Profile Challenge, exclusively for Advisorist Max members.

If you've been on the fence about whether or not to join Advisorist Max, this is the perfect opportunity to slide in and get some immediate benefits.

This is a live challenge happening January 22–24 @ 2pm EST – 3pm EST.

Here’s what Valentina will cover:

• Day 1: How to make a powerful first impression using the proven Optimization Toolkit that we’ve taught to hundreds of successful advisors

• Day 2: The art of baking authority into your LinkedIn profile by focusing on 3 specific sections (which most advisors ignore)

• Day 3: Bonus tips and tricks for standing out and grabbing attention from prospects who think every advisor is the same

👉 Click here to join Advisorist Max and gain access to the 3-Day Challenge!

P.S. As a member of Advisorist Max, you’ll also get access to Power Hour recordings, 20+ courses to grow your appointment engine, 4 playbooks, scripts, templates, weekly live coaching, an online community of advisors, and more. Click to learn more!

🧮 By the Numbers

$1.1 Million: The dollar amount non-retired members of Generation X (ages 43-58) believe they’ll need to retire comfortably.

$661,000: The dollar amount these same Gen Xers expect to have saved by retirement age, resulting in the largest savings gap of any generation

45%: This percentage of Gen X hasn’t done any retirement planning.

Source: Schroders

✌️Good Vibes

In a record-breaking display of philanthropy, the Hershey Bears, a professional ice hockey team in Pennsylvania, turned a goal-scoring moment into a heartwarming torrent of teddy bears during their annual Teddy Bear Toss. 

As the Bears netted a goal in the second period, fans showered the rink with 74,599 stuffed toys – smashing the previous franchise record. 

The tradition, which started in 2001, has collected nearly half a million cuddly creatures for children in need, while also raising money for Children’s Miracle Network.

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.