Results for "Duran Duran"

Oct 12, 2018, 10:26 AM EST

Is artificial intelligence the next bitcoin?

IdeaTechnologyFintech-Main

By Joe Duran

Bitcoin has fallen almost 70% from its peak last year, from around $20,000 to roughly $6,500 currently. Breathless commentary about how bitcoin could become the next global currency has given way to sentiment that it's just another disappointing idea that has lost a lot of money for investors.Today the new fuss in the technology world is about artificial intelligence and how it will change the world, and the wealth management business.... Read full post

Sep 11, 2018, 3:23 PM EST

The trillion dollar club: How to be a growth superstar

CityElevatorGrowth-Main

By Joe Duran

Amazon recently joined Apple in the trillion dollar club, becoming the second American company in history with a market cap surpassing $1 trillion. While Amazon and Apple climb to new highs, it's been fantastic for investors and for the wealth management firms that serve them. There's nothing like a rising market to increase assets, revenues and profits.It's easy to grow your revenues when your asset base goes up without your doing anything. It's also easy to think it's better to do nothing to rock the boat than to make any major changes to evolve your business. After all, it may not seem necessary because things are going so well.This is called a growth trap: Your current success might be the biggest threat to your success in the future. What great growth firms know is that there's no better time to change things than when all is going well. That's certainly the mindset at any of the growth companies from which we have all benefited.... Read full post

Aug 6, 2018, 1:17 PM EST

Time or money: Which is more important?

SpanishStreet-Main

By Joe Duran

I just returned from an eye-opening family trip to Spain. I met my wife in Madrid more than two decades ago when we were both studying abroad, and while the city might be more modern, the rituals and culture remain remarkably unchanged. I have returned often over the years, but on this trip I was particularly struck by the amazing difference in perspectives on life and how the Spanish live it. We arrived in Madrid on a lovely Saturday afternoon. Driving to the hotel, my daughters noticed most of the storefronts were closed. They were surprised that most stores close between 2 and 5 p.m. so people can have lunch and recharge, rather than staying open and making money. After unpacking we sat at a street café, enjoyed a snack and watched the city slowly come to life as couples, families and friends emerged to the streets for their evening paseo; the daily ritual of catching up by taking a stroll, having some snacks and perhaps doing... Read full post

Jul 2, 2018, 2:46 PM EST

The problem with goals

SoccerJune18illo-Main

By Joe Duran

The 2018 World Cup is in full stride. The world's best soccer teams are on the global stage in Russia, with their home fans glued to their TVs cheering and gasping with every turn of the ball. How can you not get swept up in the jubilation that erupts whenever a goal is scored? Given the focus on goals over the next several weeks, it seems an opportune time to talk about goals in a financial context. There's been a lot of focus on goals-based planning and outcome-based investing over the past few years. All of the popular planning software has steadily shifted away from focusing on cash flow to goals-based planning, making it the dominant method of implementing financial plans.Working with goals is easier than predicting cash flow, it's more scalable and ultimately more adaptable to clients' needs. But let's not forget that every plan has its shortfalls.1. Every plan ever written is wrong. No matter how advanced the reporting or the... Read full post

Jun 12, 2018, 3:30 PM EST

Always be closing? The end of selling

businesspeopledata-Main

By Joe Duran

On a recent flight I watched a movie I'd seen decades earlier and marveled at how life has changed. The cult classic "Glengarry Glen Ross," based on David Mamet's Pulitzer Prize-winning play of the same name, is the poster child for the ugly underbelly of selling. And no moment is more illustrative than when an intimidating Alec Baldwin berated a group of disheartened salesmen from his blackboard to "ABC. A Always, B Be, C Closing. Always Be Closing!"I started working in the investment business in the early '90s, the same time as the movie was released. I was taught that the rules for success were pretty simple: If you wanted to grow, you had to sell. Investment performance might matter a little, nice brochures could be helpful, but above all else, growth required the ability and willingness to sell. Cold calls, Saturday morning seminars, handing out business cards to strangers were all part of breaking into the industry back then. I... Read full post

May 22, 2018, 4:30 PM EST

What one thing would you do to assure your firm is competitive for the next decade?

FutureFintechTech-Main

By Joe Duran

At the Icons & Innovators award ceremony held at the grand University Club in New York City I had the privilege of sharing a panel with lions of the industry: David Booth, founder of Dimensional Fund Advisors, Ken Fisher, founder of Fisher Investments, and Mark Tibergien, CEO of Pershing Advisor Solutions. The first question asked by Fred Gabriel, editor of InvestmentNews, has intrigued me for years and is worthy of a little extra reflection: "What one thing would you do to assure your firm is competitive for the next decade?"I believe that 100% of any firm's growth, and all of its future profitability, will be driven by only one thing: its client experience.... Read full post

May 3, 2018, 1:22 PM EST

3 insights on the Financial Engines-Edelman combination and how it might affect you

Rollover-Main

By Joe Duran

On Monday, Financial Engines announced that it was being taken private by the respected private equity firm Hellman & Friedman for $3 billion in cash, a 30% premium over the pre-announcement closing price. Financial Engines will merge with Edelman Financial, the $21 billion national RIA that H&F acquired three years ago for what was then reported as a purchase price of over $850 million. I've written in the past about the rise of the mega firms. Clearly, the combined company is one of the wealth management firms likely to become a nationally dominant firm.​ ... Read full post

Apr 19, 2018, 2:45 PM EST

A visit to India and the world's largest startup

DuranIndia-Main

By Joe Duran

I recently spent a week in four cities across India. The trip lived up to all my expectations: The Taj Mahal was stunning, Old Delhi chaotic, Jaipur majestic, and Mumbai vibrant. The highlight, however, was not geographic, but commercial. Our group spent an afternoon with the team at Jio, one of the fastest-growing companies ever. It was launched four years ago as a startup within one of the largest conglomerates in India, Reliance Industries, the country's largest oil company. Five years ago, its chairman had the brilliant insight that data was the new oil and set out on a mission to convert India into one of the most digital nations in the world. Jio's evolution is breathtaking and can provide lessons to any growth-oriented entrepreneur.... Read full post

Mar 13, 2018, 4:45 PM EST

How advisers can hold on to their clients despite Vanguard's broadening reach

vanguard2-Main

By Joe Duran

During a February speech, Vanguard CEO Tim Buckley said 58% of most advisers' work could eventually be done by computers. This would force a significant change in pricing for most in the industry. Shortly thereafter, Vanguard announced it would create factor-based index ETFs. These two events are directly linked and help explain why one of the bastions of low-cost, passive index investing is now launching ETFs that are more expensive and active than the products that made them so successful.Why the change?Just two years ago, Vanguard Group launched its Personal Advisor Services, which offered clients a personal planner at an incredibly low cost. It was one way to increase revenues from clients. The service rapidly ballooned into one of the largest wealth management offerings in the nation. Now that it has successfully climbed vertically in the service stack, it makes sense for Vanguard to broaden its product offerings. Such a move... Read full post

Feb 14, 2018, 3:19 PM EST

Flash crash: The value of advisers in coping with uncertainty

PracticeManagement-Main

By Joe Duran

A week ago Monday, the Dow fell 1,175 points. Although that was not anywhere near a record percentage decline, it turned out to be the biggest point decline in history. After 19 months without a 5% decline from the peaks (a record in itself), volatility came roaring back, with wild swings on a daily basis. Most professionals have been waiting for the return to "normal" levels of volatility for years. However, no matter how knowledgeable anyone is, nobody really knows exactly when or how extreme declines will come, or when they will be over. We use mathematics and accuracy when reviewing the past, but there is a blend of art, science and experience involved in looking into the future. It is impossible to have an exact or accurate answer when looking forward. No one knows what the market will do tomorrow, much less what might happen years from now. Yet entire financial lives are counting on our ability to anticipate the future. As I... Read full post

Older »
X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.