Herd mentality has always been a powerful force in investing circles, and with billions of dollars now running to hedge funds, many clients might feel tempted to join the stampede. The fact remains, however, that hedge funds are not right for...

A persistent myth of the brokerage industry is that prospecting is the best way to expand a practice, however, advisors are far more likely to profit from expanding relationships with existing customers.

The smart money believes that once the retail investor gets hold of an investing strategy or individual security, it's time to sell. Sure enough, now that retail investors are able to partake of hedge funds in unprecedented numbers (thanks to the...

For years, many opponents have seen the notion of Social Security privatization as a thinly veiled make-work project for Wall Street. Trillions of dollars, they said, would flow into stocks and mutual funds, producing a huge windfall for...

Five years ago, Tom Carstens began working with a new client, a successful executive making $3 million a year. At first glance, he seemed to promise a virtual avalanche of new business. But, after 12 long months, the client had agreed to make...

Investors are happy to think about retiring but are reluctant to contemplate what comes next. Such are the separate findings from surveys from AXA Financial and PNC Advisors. The AXA study showed that Americans are more confident about their...

In the Disney movie That Darn Cat!, the plot is set into motion by an elderly woman who leaves her prodigious estate to the eponymous feline. In real life, clients cannot bequeath directly to a pet, but there are ways to ensure Fluffy and Rex are...

Financial advisors who fancy themselves wealth managers are having trouble walking the talk. This is the most significant finding of our recent research into the business of wealth management. In past columns, we've argued that adopting a wealth...

I underwent a grueling arbitration hearing this year. The complainant's attorney claimed I'd acted in a fiduciary capacity by purchasing and allocating a variable annuity for my clients. I maintained I had no fiduciary responsibility but had...

Internet deals are back. So are IPOs. Just like 1999! As if to prove the point, online brokers have started new price wars. Charles Schwab & Co. launched the first salvo in January by eliminating account fees for customers with $25,000 or more in...