MassMutual Sponsor Spotlight
Why don't you tell us about the mass mutual mission and estate planning and the opportunity that's guiding you? Sure. I I will say First off, there has never been a more complex environment for our clients and for their financial needs across the industry. They have to navigate a jungle of changing tax laws, new and innovative investment strategies, and economic uncertainty. And sadly, a lot of clients just don't have, let alone an estate plan. They actually don't even have a financial plan to be able to position themselves and their families to be able to navigate this complexity. That's why for me and for all my colleagues at Mass Mutual, we're incredibly passionate about being able to support our 7000 financial advisors on this journey and help them provide the support that they need for their clients. Some people may not realize it as I talk to them, but Mass Mutual in addition to having 173 year track record and pedigree in the life insurance space, we've actually been in the wealth management industry, in the wealth management business for over 40 years. And with a quarter trillion dollars in client assets under management, we're really well positioned to help advisors and their clients on the journey ahead. So, So what does this mean for advisors? So what I would say if you're a financial advisor, it is fantastic if you're helping your clients with asset allocation. It's fantastic if you're helping your clients picking the right investment strategies. But what I will say is if you're not also talking to your clients about the expiration of the Tax Cuts and JOBS Act, if you're not also talking to them about the right way to position their assets and trust, the right way to structure their wealth. If you're not also talking to them about all these interesting things that are innovations that are happening in the marketplace about how to protect that wealth in the generations to come, then I would say either one of two things is happening. Either your client is being underserved or they're getting that advice somewhere else. And either one is not a great outcome. Tell us about an opportunity that advisors can enact today. So get ready for it. I'm going to give you the most sophisticated piece of advice that you're going to hear at the entire Bloomberg Invest. It's maybe technical, maybe tough to understand, but bear with me, OK? Find the smartest person you know in trusts and estates and take them out to a really nice dinner. That's my advice for advisors. You know, one of those places, places, places where you have to order the side dishes separately that nice and and listen, simply listen. This has worked for me over the years. Their chances are you're going to hear many stories from those experts in how to structure and position your clients wealth that are going to resonate with your clients and it'll give you the opportunity to serve them even better. And I would say as you build out that network as an advisor kind of becomes a SWAT team where you can call in the experts when something changes in tax law, when your client's circumstances, whether in life or professionally change, you then have those folks at your fingertips and you can call them in for help. And you don't have to be the expert on everything. And I would say, remember the fact that your clients trusted you. They still trust you to navigate through that jungle that we talked about. And if you have all the right experts on call, you're going to do just fine. Great advice. Any final takeaways you want to leave us with? You know, Michelle, we had a fantastic panel this morning. We talked about the great generational wealth transfer. We had heard from some great experts. The one thing I would leave you with is in addition to the fact that $84 trillion in client wealth is transitioning over the next 20 years, I would argue there's also going to be equally importantly a transition taking place to advisors that are well positioned with the will and the skill to help their clients on this journey and from those advisors who are simply not ready. And the question for all of us in this industry is which one of those do you want to be?