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As technology evolves, it is becoming one of the biggest shifts the wealth management industry has seen. Artificial intelligence is changing the way we conduct daily activities and through medical advances, people are living longer. The 4th edition of our newsletter shares how technology has become an important aspect in our every day lives. 


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Technology has played an important role in the advancement of every industry throughout mankind.

Some examples include:

The healthcare industry introducing X-ray technology in the late 1800’s.
The transportation industry mass producing the Ford Model T in 1908.
The communications industry introducing the iPhone in 2007.

These have all disrupted the way people live and function on a daily basis. Lately, we’ve heard a lot about the advancement of artificial intelligence and how it will impact the wealth management industry.

While many advisors reject the thought of technology replacing their business, we embrace it. We realize that as new generations come into wealth, our industry will start to shift. According to Deutsche Bank, “more than 33 percent of all new banking business with customers between the ages of 16 and 39 is conducted fully on the web.” Our team has begun to take advantage of these changes with the implementation of our tools: Your Life and Your Legacy.

We believe that as technology evolves and emerges, it won’t fully replace human beings, but rather it will enhance the value brought by human advisors. We believe that the integration of technology is and will be one of the biggest shifts the wealth management industry has seen. People want their professional services integrated, accounts aggregated, and professionals working together on the same mission of helping clients achieve their goals.

Your Life

These days “Artificial Intelligence.” (or A.I.) has been the topic on the tip of everyone’s tongues. For many, these words ignite feelings of excitement and fear. They conjure up images of a robust society powered by robots and self-driving cars. In reality, A.I. is already among us. It is essentially just a program or machine’s ability to learn, adapt, and think for itself.

The sole purpose of A.I. is to aid and support human activities and enhance existing functions. Gmail is a good example of this. Google’s email platform uses machine learning to stop spam from going into your inbox. Amazon uses it to show you suggestions of items you may want to purchase based your search history. Picture a world where there are self-driving cars. Where are you in this world, and how is A.I. enhancing your daily activities?

If you are sitting in the backseat of a car that drives itself, you may have more time to call a loved one. Or spend a few more minutes reading about the economy and current events. Now picture a world where household chores are taken care of for you. Rather than grocery shopping, food may be delivered to you based on your previous purchases. This could leave you more time to play catch with your child on the lawn. A.I. is fairly new but we look forward to getting a few more minutes each day to connect with those around us.

Your Legacy

Are you planning to live longer? Medical advances are some of the ways science and technology are helping people live longer. According to the Society of Actuaries, a 65 year old couple of average health has a 50% chance of one partner living to age 93. When planning for longevity, a general rule for the percentage of stocks in a portfolio is a formula of “100 minus your age”. For example, if you are 60 years old, your allocation would be 40% stocks (100 – age = 40%). Some investment professionals modified the rule to 110 minus your age. This is for those with a higher risk tolerance or longer life expectancy.

We advise creating your own retirement income plan and adjusting for market conditions every 3-4 months. That way, we can adjust if market losses have reduced your principal, instead of waiting too long and watching your retirement assets dwindle. If you would ask Travis and Jason’s 94 year old Grandma, “Mamah”, she is thankful she had some long term investments for her to now spend at the casino.