Facing 22 years in jail for stealing $19 million from client retirement plans, Barry Stokes made creative use of his jail time while awaiting sentencing: He crafted voodoo dolls of his financial victims and stuck pins in them.
SEC Chairman Mary Schapiro announced the release today of the Office of the Inspector General’s report on the Bernard Madoff fraud. In short, the SEC screwed up in every way possible. Along with the announcement, Schapiro outlined how the agency is reforming itself.
After months of negotiations, UBS announced it has signed a formal agreement with the IRS to end the cross-border dispute regarding alleged tax-evading UBS American clients. As a result, the names of approximately 4,450 American clients of the firm may be handed over to U.S. authorities.
The economic crisis has damaged revenues, business plans and most importantly, the trust of wealth management clients. According to an extensive survey conducted by PriceWaterhouseCoopers and released at the end of July, advisors who succeed in this “new era” will need to truly put the client first…Yes, you’ve probably heard that before.
Tactical asset allocation—sometimes referred to by the more maligned term, market timing—can lower portfolio volatility, limit dramatic losses and improve gains in otherwise fickle bear markets, all things that can help advisors keep clients in uncertain times like these. But challenges are many, not least of which is convincing clients to go along with it.
Though high yield is often considered one category, its two components—high yield bonds and leveraged loans—perform differently in rising rate environments. Bonds pay the same rate of interest regardless of the risk-free rate—a feature attractive in low or declining rate environments. Leveraged loans are generally safer investments that are more senior in the capital structure, have lower volatility and provide floating interest rate exposure...More
With the wind at their backs, sprinters have broken speed records. Similarly, the tailwind of a bull market has boosted the fortunes of equity investors over the past five years. In both cases, the pace cannot be sustained over a long period of time. Look back no further than the past 10 years for confirmation of the market’s lack of endurance....More
There are over a hundred behavioral biases that investors can be subject to, leading to poor investment decisions. To educate your clients and help counsel them to more appropriate investment decisions, you need an understanding of the market and how investor biases take root....More
With many client portfolios barely outperforming the market, and many investors still driven by fear-based thinking and irrationality, advisors need effective strategies for portfolio construction now more than ever....More
Technology is a critical differentiator in today's digital age for running an efficient and effective practice. Those entrepreneurial financial advisors and wealth managers who are leveraging technology in their firms are creating better client experiences, improving cash flow, generating new revenue streams, and scaling their services....More