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This episode of the Wealth Management EDGE podcast hosted by Mark Bruno, managing director of the Wealth Management Group at Informa, features an insightful conversation with Rhys Williams, a senior wealth advisor at Dakota Wealth Management. The episode highlights the evolving landscape of financial advice and the changing dynamics of clients’ needs.
Mark and Rhys reflect on the current state of the financial markets and the transition from a focus on short-term investment gains to a broader, more long-term perspective. They emphasize the increasing importance of holistic financial planning and how advisors are adapting to meet the unique needs of different generations.
Specifically, Mark and Rhys discuss:
- Insights into the shifting demographics of wealth, particularly the rise of younger clientele who are now seeking financial advice.
- How the face of wealth is changing, with millennials becoming first-time wealth generators and seeking guidance on wealth management, legacy planning and long-term financial goals.
- The evolving role of financial advisors, moving beyond investment advice to encompass comprehensive financial planning and behavioral coaching.
- The significance of understanding clients’ values, goals, and aspirations, and how advisors can build strong relationships by effectively communicating and tailoring their services to individual needs.
Mark and Rhys also discuss how technology and tools like customer relationship management systems enable advisors to efficiently gather insights about their clients’ preferences and behaviors.
This podcast explores the transformative journey of financial advice, recognizing the current bull market for advice and the unprecedented growth opportunity it presents for financial advisors who embrace a client-centric, holistic approach to wealth management.
Resources:
Connect With Mark Bruno:
- WealthManagement.com
- LinkedIn: WealthManagment.com
- LinkedIn: Mark Bruno
- Twitter: Mark Bruno
- LinkedIn: Informa
Connect With Rhys Williams:
About Our Guest:
As a Senior Wealth Advisor, Rhys advises his clients across all aspects of their financial lifecycle including investment management, financial & estate planning, and taxes. He focuses on young doctors and medical professionals. Rhys has over 15 years in private banking focused on advising high-net-worth professionals, families, and entrepreneurs. Rhys’ experience with Dakota’s multifaceted in-house expertise allows Rhys to serve as a trusted advisor and fiduciary for his clients.
Before Dakota, Rhys held the role of Portfolio Manager at IBERIA Wealth Advisors (formerly Gibraltar Private Bank & Trust) where he managed client assets and served as a member of the firm’s investment & asset allocation committees.
Rhys earned a BS in Finance at The University of Florida. He currently holds a Certified Private Wealth Advisor® designation, an advanced credential created specifically for wealth managers working with high-net-worth clients focusing on the life cycle of wealth: accumulation, preservation, and distribution.
