Republic CEO Kendrick Nguyen on opportunity, diversity, and choice for companies and investors

The average investor should be forgiven for reading financial news with a twinge of envy. Only venture capitalists and insiders, after all, reap the rewards generated by the unicorn startups highlighted in the “Financial Times” or showcased on CNBC, while the retirement-saver at home has to remain content with a traditional portfolio filled with slow-growth stocks and bonds. The startup world – complete with the initial public offering windfalls sensationalized by media outlets and lay investors alike – traditionally has remained the province of big money and the well-connected, until now.

Last April, the Securities and Exchange Commission unveiled a package of disclosure rules targeted at retail investors. The commission has remained silent following the package’s 90-day comment period, but industry insiders tell “Advisors Magazine” the so-called “fiduciary rule” is bound to appear in headlines again, especially after the Department of Labor’s own version was squashed in court earlier this year.

The Securities and Exchange Commission remains quiet about a potentially forthcoming “fiduciary rule” aimed at increasing transparency for retail investors. Advisors across the financial services industry, meanwhile, hold mixed feelings toward the increased disclosure requirements

So many shingles hung out, dangling in the winds of today’s financial services marketplace. It’s a struggle for consumers – many of whom have little knowledge of the industry’s day-to-day workings – to decipher which service will best meet their needs. And, it’s also a challenge for advisors to differentiate themselves.

Below is a guide compiled from the answers numerous financial advisors provided when “Advisors Magazine” asked them, “What advice would you give to a client who is meeting a new financial advisor for the first time?”

In an appearance on ABC’s “Good Morning America earlier this year, “Shark Tank” star and Chairman of O’Shares ETF Investments, Kevin O’Leary offered a “jawsome” example of the power of compound interest.

“The average salary in America is $52,000, if you save 10 percent when you start in your 20s, by the time you are 65, you will have $1.2 million dollars in the bank.”

“You can do it,” he said looking directly into the camera, and then shifting his gaze to the live studio audience he repeated, “You can do it…you can do it.

"I've never seen the economy so good."

What does serial investor and founder of O’Leary Financial Group, Kevin O’Leary, think of the current state of the economy, tax reform, and investing today in America?

Recently, “Mr. Wonderful,” – a moniker O’Leary earned as the surly, yet sensitive Shark appearing on ABC,’s prime-time hit, “Shark Tank” – shared his thoughts and insights during an interview with “Advisors Magazine.” He also shares how he has designed the funds he invests in, and dives deep into why.

America’s economy today – how are we doing?

Workplace diversity is gaining momentum. LinkedIn’s 2018 Global Recruiting Trends report found 78 percent of the US companies surveyed are focusing on diversity.

The three top reasons identified by companies were to improve corporate culture, elevate company performance and to better represent their customers. And further research shows companies with more diverse workforces see increasing profits. A report by global management consulting firm McKinsey & Company, observing more than 300 companies in the US, Canada, the United Kingdom and Latin America, found that companies ranking in the top 25th percentile for gender diversity on their executive teams were 21 percent more likely to turn a profit above the national average.

When Whitney Houston died in 2012, her will had sat untouched for 19 years. Between the time Houston’s advisors wrote her will and her untimely drowning in her own Beverley Hills home, the record-breaking artist had signed the largest recording deal of its time – in 1993 – and gave birth to her daughter, Bobbi Kristina. The unchecked will locked Bobbi Kristina out of her inheritance for three years – she was 18 when Houston died and Kristina herself suffered a tragic death before receiving everything – but did receive a partial inheritance. Sopranos star James Gandolfini was not as fortunate, his estate was poorly planned, and taxes ate more than $30 million of his $70 million in assets.

Few Americans start saving for retirement early enough, with the average retirement savings for families age 50 to 55 amounting to $124,831, according to a 2017 Bankrate survey. That is far short of what most financial experts say it takes to comfortably enjoy life post-career. Getting a 20 or 30-year-old to take saving seriously can be difficult, however, when retirement remains 40 years away. Until Now.

Recent virtual and augmented reality research has shown that putting someone into a simulated version of themselves 40 years from now can spur a change in attitude toward saving – even if it’s only a projection of their face with a few added wrinkles.