Financial advisors are stuck in a rut when they should be basking in their profession’s “golden age,” according to Nick Murray.
Addressing the 2017 Inside Retirement conference in Dallas on Thursday, Murray, a prolific author and publisher, told advisors that they were living in the best of times for their industry despite their worries about disruption and regulation.
“Holistic financial planning… is among the noblest professions that anybody can overtake, and this is it’s golden age,” said Murray. “I know how upsetting it can be, suggesting that people can be optimistic about the future of this profession, but the sentiment has gone beyond skepticism.”
Murray said that advisors and the journalists who serve them prefer to “throw rocks” instead of acknowledging the unprecedented opportunities available to them.
He noted that the dominant story lines in recent months have been about the Department of Labor’s fiduciary rule, fee compression, roboadvisors, increased competition and the election of President Donald Trump.
“I was born a fiduciary, and so were, I think ,most of the people in this room,” said Murray.