Results for "Outside-IN"

Oct 21, 2019, 4:53 PM EST

Saying goodbye to Jud Bergman

Jud Bergman rearview illo-Main

By Joe Duran

On Oct. 16, Jud Bergman was memorialized in his hometown of Chicago. He and his loving wife Mary lost their lives when their taxi was struck by an impaired driver on the Bay Bridge in San Francisco. Almost everybody in wealth management has either directly or indirectly been impacted by Jud and the business he built. Jud created a powerhouse company that works with tens of thousands of advisers and accelerated the development of financial technology, as well as many of the tools and systems that we all rely on every day. [Video: Remembering Jud Bergman]​ Jud has deservedly been recognized for his impact on the industry, but the interactions we shared over the past decade deeply influenced the person I have become. Since not everyone had the benefit of knowing him personally, I want to share three specific moments we shared that made Jud unique and the lessons he taught me to become a better businessperson.• Envestnet has ... Read full post

Oct 18, 2019, 1:51 PM EST

Zero-fee trading was a warning shot. Asset management is next


By Anders Jones

Over the last few weeks, we've seen broker after broker abolish its commission trading fees. Interactive Brokers was the first to reach the zero-fee finish line and the rest have followed suit, with Charles Schwab's move triggering action by TD Ameritrade, ETrade and Fidelity in a bout of game theory that would make an economics professor proud.On a tactical level, I've heard advisers sound the alarm that zero-fee trading will feed the worst impulses of investors, and I've seen discussions about novel investment strategies that are now feasible without the drag factor of trading fees. But when I take a step back to look at the big picture, I see the compensation structure of fees for assets under management in the cross hairs.Yes, the stock prices of these brokerages are falling, but I really doubt they're losing a lot of sleep over this decision. Forbes reports that Schwab projects it will lose $360 million to $400 million yearly,... Read full post

Oct 17, 2019, 3:05 PM EST

Here's what securities lawyers overlooked in their expungement report


By Dochtor D. Kennedy

The first sentence on the Public Investors Advocate Bar Association homepage states that "The PIABA Foundation ... provides unbiased investment education." I beg to differ. It is nearly impossible to ignore the overwhelming amount of facts and evidence conveniently overlooked in the "study" released by the foundation Tuesday. Given that the group is comprised of "attorneys who specialize in representing investors," I cannot say that I am surprised. • The alleged "study" implies that the drastic increase in the number of expungement cases from 2015 to 2018 is the result of advisers' manipulation, exploitation and abuse of the arbitration process. — PIABA says nothing of the fact that in June 2015, Finra launched a multimillion dollar advertising campaign promoting BrokerCheck. — PIABA also fails to mention the June 2016 amendment to Finra Rule 2210, which required the inclusion of a "readily apparent reference and... Read full post

Oct 16, 2019, 2:55 PM EST

Why are fixed indexed annuities primed for growth?


By Jamie Hopkins

Fixed indexed annuities, also referred to as equity indexed annuities, have been a hot button issue for decades now. But FIAs have also been widely misunderstood by investors, advisers and regulators, often being confused with variable annuities.FIAs can be complex — to a point. They appear to be a security-style investment and an insurance product at the same time. They can also be riddled with confusing internal cost structures, caps on growth and multiple options for riders. But in general, FIAs protect the principal amount and credit a growth percentage based on an index into the account, with some type of cap on the potential growth. A lot of signs are pointing to an expanding FIA market. So why are FIAs primed for growth?... Read full post

Oct 15, 2019, 2:35 PM EST

Bill Gross: The Fixx


By Bill Gross

Bill Gross, the fund manager known as the Bond King, has launched a new website that has an archive with some of his investment outlooks from the last four decades, as well as the new investment outlook below:"How low can you go?" has been investment markets' clarion call of global central banks for nearly a decade now and in the process, financial markets prior commonsensically interest rate boundary of zero has been breached by the Bank of Japan, the European Central Bank and $17 trillion of global bonds. Is this a healthy situation, and how long can markets (and economies) breathe in an oxygen-less interest rate environment? It is obvious to me that asset markets have benefited tremendously and have been "Saved by Zero," as the rock group "The Fixx" rather ironically sang way back in 1983. Whether an observer argues from the ability of cost-free-carry to lever riskier assets, or from the academic simplicity of the Gordon dividend... Read full post

Oct 15, 2019, 1:33 PM EST

Sell but stay, and watch your business grow


By Scott Hanson

I spoke at a conference recently, and I couldn't help but notice the advanced ages of many of my peers. The fact is that our industry is full of advisers who are approaching retirement age. And, in speaking with them, I learned that a few have succession plans, but many don't. Instead, advisers vaguely plan to "retire in place," which means to slow down and milk what they've built until there's very little left standing.I urge you to refuse to fade away. From ill-suited product recommendations to bad actors, our industry has enough trouble with its tenuous reputation without once-reliable advisers deciding it's better to run out of gas than to top off the tank.It's a seller's market. And with it, you have an opportunity to do what our industry is not known for: Get creative. With a little foresight, you can very well have all the time and income you need, and still take exceptional care of the people you've promised to serve, your... Read full post

Oct 15, 2019, 11:45 AM EST

Using technology to manage investor behaviors


By Tim Bonacci

As a financial adviser, how do you measure the value you deliver to your clients? Or more importantly, how do your clients measure the value you deliver to them? Is it just about performance? Or is it more about the intangibles — about helping them plan for their futures with a portfolio consistent with their risk tolerance? That's certainly been a worthwhile value-add approach that has served advisers well to date. But what if everyone else is doing the same thing, delivering the same value, especially looking out over a future being shaped by increasing fee compression, intensifying regulatory scrutiny, and markets with persistently low interest rates and mounting equity volatility and uncertainty?What then will make you stand out in the future as a unique and invaluable resource for the clients you serve? How will you differentiate yourself and do more for your clients? The successful financial adviser of the future will be... Read full post

Oct 14, 2019, 3:30 PM EST

Growing your practice beyond you


By Matthew "Matt" Ransom

Picture this — you're on a boat. The boat is sinking and you're trying to plug the leaks, but new holes keep popping up. At this point, you don't know whether you'll sink or float. This situation may sound all too familiar to advisers. When your firm grows and you have clients with various needs, you're trying to plug the leaks by finding more staff to address the concerns of your clients. You may feel as if you're sinking at first, but luckily, there is a way to stay afloat long term — intentional hiring and teaming. Intentional teaming is multifaceted. It involves identifying employees who can support (and continue) your current business and those who can carry it into the future through careful succession planning.... Read full post

Oct 11, 2019, 5:00 PM EST

Thank you, Ken Fisher?


By Gavin Spitzner

Thank you, Ken Fisher, for shining a light on critically important issues.Mr. Fisher, founder and chairman of Fisher Investments, has been called out loudly for offensive comments he made at the Tiburon CEO Summit this week in San Francisco.Alex Chalekian, CEO of Lake Avenue Financial, ignited the firestorm with a two-minute video on Twitter that has been viewed more than 134,000 times as of Friday morning. It set off an amazing amount of dialogue on social media and has been picked up by national news media.Fellow Tiburon CEO Summit attendees Sonja Dreizler, a consultant, and Rachel Robasciotti of Robasciotti & Philipson confirmed Alex Chalekian's observations. Chip Roame, managing director of Tiburon Strategic Advisors, has since denounced Mr. Fisher's remarks and announced that he would not be invited back to the conference.​ I was not there, so I cannot comment on any of the specifics, but they've been widely reported.... Read full post

Oct 11, 2019, 4:12 PM EST

Enhancing financial advice with model portfolios


By Brie Williams

Shifting demographics, changing attitudes toward advice, and growing regulatory and compliance requirements are placing greater demands on financial advisers to generate more efficiencies and economies of scale to meet their goals.Despite these efforts, research from State Street Global Advisors suggests that advisers' business practices are not always aligned with their goals. While advisers' top business goals are deepening relationships with existing clients and acquiring new clients, a large portion of their time is spent on activities that don't support these goals directly. In fact, advisers are spending significantly more time on portfolio management (23%) than on client-facing activities (15%) or prospecting for new clients (11%). To combat these challenges, an increasing number of advisers are electing to outsource portfolio management by selecting third-party model portfolios. The efficiency of model portfolios enables... Read full post

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