The unprecedented seems to happen all too frequently in financial markets. Is there something wrong with the way financial advisors build their clients' portfolios? "Post" Modern Portfolio Theory says yes, and it's gaining currency...
No Retention Bonuses For Wachovia Reps; Wachovia Securities To Be Renamed
By: By David A. Geracioti
Danny Ludeman, head of Wachovia Securities, told managers earlier today that financial advisors would not receive any retention bonus. He will hold a conference call with financial advisors at 1 p.m. central time, said Wachovia spokesman Tony Mattera.
In addition, Wells Fargo will rename Wachovia Securities.
Exiting Legally
Starting a new job can be very exciting, but it can be nerve-racking too. Not only do you have to think about keeping your book intact
Variable Annuities Overhauled, Benefits Shrink, Costs Rise
By: By Christina Mucciolo
Variable annuities are in the midst of a major overhaul. In recent months, VA providers have been busy raising fees, decreasing benefits and, in some cases, suspending guaranteed income and withdrawal riders all together. As asset values in VA portfolios plummet along side of the market, and interest rates sink, many insurance companies are struggling to fund guaranteed payments on the products. More fee hikes and benefits cuts are expected in May, when new product prospectuses collectively hit the shelves.
Equities: Better Than Bonds? What A Lost Decade In Stocks Tells Us
By: By John Churchill
Bear markets have a way of breaking investors’ spirits—even their ability to rationally analyze capital markets. Take for example the period from about 1965 to 1982: The Dow Jones Industrial Average was essentially stagnant, trading in a range that gave birth to the rule of thumb, Buy at 500, sell at 1,000. By August 1979, a Business Week cover story asked, “Are Equities Dead?”
The Jewish Clause: Putting conditions on an inheritance into a will.
By: By John T. Brooks, partner, and Erika A. Alley, associate, Foley & Lardner LLP, Chicago
Most estate-planning attorneys come across clients who want to attach some sort of condition on gifts they make to descendants and other beneficiaries. And most estate-planning lawyers know that conditions creating restraints against marriage, religion and family relationships are often void as against public policy.
Cultivating the Middle Class Millionaire
Based on extensive research with with more the 1,400 middle-class millionaires and more then 500 high-end advisors, Prince & Geracioti provide a detailed set of strategies and tactics to build a extremely successful advisory practice. Proven approaches to sourcing and converting prospects into loyal clients are meticulously explained. Also included are exercises to enable readers to more effective master the various strategies and tactics...
