Combating Fake News & DIY Wealth Management Trends

As a society, we have become over-confident that we can do anything, whether or not we have the skills and knowledge to, because of the wealth of information that’s available at our fingertips. Unfortunately, in the era of fake news, it becomes challenging to discern fact from fiction.

In this “post-truth” time, coupled with society’s propensity towards “do it yourself” approaches, there’s the risk of catastrophe.

The fake news threats are not isolated to the media; the same risks translate to personal finance and investment issues. How can Canadians effectively filter good advice from bad when looking for resources to guide their DIY decisions? How do they avoid the trap of thinking their instincts are sound, or that the investment opportunity suggested by a friend should be pursued because they found the supporting resources that they searched for?

The simple answer is that they can’t. Managing complex financial issues requires a strategic approach from someone with specialized knowledge, in-depth education about financial products and comprehensive financial education. With the threat posed by fake news, and the rise of artificial intelligence solutions, financial advisors have the opportunity to establish a new value proposition. It’s essential for advisors to help clients and prospects recognize the pitfalls of taking matters into their own hands.

If you focus on building relationships, provide complex alternative investment solutions, and demonstrate that you understand the unique, personal needs of your clients – you’re offering what DIY wealth management and robo-advisors will never be capable of providing.

This year at our Distinguished Advisor Conference, two speakers will shed further light on the societal trends that could threaten the future of your practice, and will educate you on positioning yourself to combat them and build a thriving business.

Kirk LaPointe is the VP of Audience and Business Development at Business in Vancouver, morning show host, and Ethics and Leadership professor at The University of British Columbia’s Graduate School of Journalism. His talk entitled “Fake News and the War on Trust: How a Focus on ‘Invested Clients’ Can Help You Beat Disruption” will help you learn how to re-establish yourself as the trusted middleman, and become part of the rise of outstanding specialists who provide deep and important expertise in direct opposition to fake news.

Daniel Popescu, speaking on “Thinking Bigger: Alternative Investment Solutions for Better Informed Clients,” will focus on offering risk management approaches in finding the right investment fit – a skill that only discerning advisors possess. Focusing on private equity for high net-worth clients creates new opportunity for diversification against risks like currency fluctuation, inflation and taxes. Demonstrating expertise in this area can provide you with a new strategic differentiator.

Establish a value proposition that will future-proof your financial services career by learning from leaders and innovators in the industry. Our early registration deadline for the DAC is September 30. Register online or by calling 1-866-953-4769.

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