**FAQs**

1. **What is the biggest driver of change in the RIA industry according to the recent survey from Charles Schwab?**
– Advisors see technology as the biggest driver of change in the RIA industry, with the growing number of AdvisorTech solutions as the most frequently cited tech-related driver of change.

2. **What was the most cited factor driving industry growth during the next 3 years according to the survey?**
– Artificial Intelligence (AI) was the most cited factor driving industry growth during the next 3 years.

3. **Why are some advisory firms hesitant to adopt AI tools according to the survey?**
– While 1/3 of advisory firms are currently using AI tools, another 1/3 are fearful of doing so, indicating that some firms are taking a wait-and-see approach, perhaps as regulation surrounding this technology evolves over time.

4. **What valuation did National RIA Creative Planning recently receive in its sale of a minority stake to a Private Equity (PE) firm?**
– National RIA Creative Planning recently received an eye-popping 23X earnings valuation in its sale of a minority stake to a Private Equity (PE) firm.

5. **What is a “bond tent” approach in retirement planning?**
– A “bond tent” approach can help advisors and their clients reduce sequence of return risk without increasing longevity risk in the process.

**Conclusion**

In conclusion, technology, particularly AdvisorTech solutions and Artificial Intelligence (AI), is driving significant change in the RIA industry. While some advisory firms are eager to adopt AI tools, others are more cautious due to regulatory uncertainties. In the realm of retirement planning, strategies like trimming equity allocations, considering contingent deferred annuities, and implementing a “bond tent” approach can help clients navigate the challenges of retirement. Effective client communication, storytelling, and managing spending on children are also important aspects of financial planning. Stay informed, adaptive, and client-focused to navigate the evolving landscape of financial planning successfully.