Advisors aiming to strengthen relationships with younger affluent investors may want to enhance their AI knowledge, as a new survey suggests. Conducted by Boosted.ai, the survey found that younger high-net-worth (HNW) individuals are increasingly incorporating AI into their daily lives and expect their financial advisors to do the same. 

With 82% of respondents describing themselves as AI-proficient and 56% using it regularly, many are looking for advisors who integrate AI into their services. In fact, 35% of younger HNW individuals would consider leaving their current advisor if they aren’t adopting AI. 

As a generational wealth transfer looms, adapting to the preferences of tech-savvy clients becomes critical. However, the survey also reveals concerns about AI, particularly around data security and regulation.

Finsum: This is a huge shift in adoption of this technology and advisors might want to integrate this into their practice for new client adoption.

New York City’s theater scene is unrivaled, ranging from intimate off-off-Broadway venues to grand theaters like The Gershwin. Broadway remains the pinnacle of this scene, defined by its professional shows in 41 theaters with over 500 seats. 

Each performance offers a unique, unrepeatable experience, making Broadway a global cultural treasure. This fall, several high-profile productions are generating buzz. Thornton Wilder’s Our Town returns to Broadway after 20 years, with a star-studded cast including Jim Parsons. 

Romeo + Juliet is getting a fresh update with music by Jack Antonoff and a stellar lineup led by Rachel Zegler and Kit Connor. Additionally, Sunset Boulevard, fresh from London’s West End, will star Nicole Scherzinger in her Broadway debut.

Finsum: This is a great way to take in the culture in New York, either as a resident or a traveler. 

Leading up to the much-anticipated rate cut, global investors increased their equity fund purchases, anticipating a rate cut by the Federal Reserve that would kick off a broader cycle of reductions. A total of $5.21 billion was poured into equity funds, slightly below the $6.54 billion invested the previous week. 

The Fed’s 50-basis point rate cut spurred risk appetite, particularly in Asia and Europe, where equity funds attracted strong inflows. Meanwhile, U.S. equity fund sales declined to a four-week low. Sector funds, particularly in financials and tech, saw outflows for the third consecutive week, while bond funds maintained their appeal, continuing a 39-week streak of net inflows. 

Additionally, precious metal funds attracted investors for a sixth week, while energy funds faced a reversal with net sales of $129 million. The data reflects increased confidence in riskier assets and a shift away from money market funds, which saw outflows after six weeks of positive investments.

Finsum: There are still two more rate hikes on the forecast if investors want to take note of these trends in equity markets.