Feb 1, 2011
By Charles Paikert
In a move that caught the wealth management world by surprise today, London-based Campden Media has acquired the Institute for Private Investors, creating a global peer-to-peer membership organization for ultra-wealthy families....
Feb 1, 2011
Feb 1, 2011
By Stephen Roseman, Thesis Fund Management
Misperceptions about what hedge funds do need to be set straight. Individuals won’t be able to make educated investment decisions about them unless they understand what they are—and are not. ...
Feb 1, 2011
By Diana Britton
American Funds, the nation's second-largest fund family, recorded substantial asset outflows last year. Yet, the fund family has been ultra-successful over the long term. Is it time to buy American Funds?...
Feb 1, 2011
By Kristen French
Research suggests disclosing conflicts can cause more harm than good....
Feb 1, 2011
By Charles Paikert
Local wealth management executives say the Los Angeles market isn't saturated--yet....
Jan 31, 2011
By Charles Paikert
Affluent women are more concerned and less confident about retirement than affluent men, while younger investors who have more than $250,000 in investable assets have become surprisingly conservative about investing for retirement, according to a new Merrill Lynch survey released today....
Jan 28, 2011
By Susan Konig
Last Thursday, Morgan Stanley announced that employees on the banking and brokerage sides of the firm who get a substantial bonus—everyone from bankers to traders to branch office managers—will now be seeing 35 to 50 percent of that bonus compensation deferred. That's significant for branch office managers, for whom bonuses can represent up to 75 percent of annual compensation. ...
Jan 28, 2011
By Diana Britton
While the number of advisors shifting to independent business models slowed somewhat last year from 2009, the size of those breakaways making the move is growing, says Fidelity Investments. It’s not a new trend for the No. 2 RIA custodian. Fidelity has been seeing larger teams joining for many months now. ...
Jan 28, 2011
By John Aidan Byrne
U.S. and Canadian banks say developing mass affluent wealth management business is a top priority, but they’re not doing enough about it, says a recent report from Aite Group. Most banks are focusing their efforts on cross-selling brokerage services to their banking clients, but that hasn’t stopped the flow of mass affluent assets to online brokerage platforms. ...
Jan 27, 2011
By Stan Luxenberg
Municipal bonds have sagged recently. Analysts blame falling bond prices on a variety of causes, including rising interest rates and concerns about municipal defaults. Should you dump your bonds? No. ...
Jan 27, 2011
By Charles Paikert
Measures of consumer and investor confidence are rising rapidly, but wealth managers say their clients aren’t completely on board yet....
Jan 26, 2011
By Diana Britton
Fidelity, known for equities in the 90s, did it with its move into bond funds. Janus, known as a growth shop during the tech boom, was able to do it with its move into mixed-asset funds. Now Pimco is launching a new fund line in equities. Of course, the bond fund giant tried to make the same move a decade ago—and failed. Will it succeed this time? ...
Jan 26, 2011
By Diana Britton
During an investor webinar Tuesday, Morningstar’s ETF team shared some of their best ideas for investing in ETFs in 2011 and provided a look inside their own portfolio. Overall, they recommended investors tilt their portfolios toward financial, technology and commodity ETFs. ...
Jan 26, 2011
By Charles Paikert
While it is commonplace, managing personal wealth inside an operating company is hardly ideal, and may, in fact, be detrimental to the long-term interests of both the family and the business, according to family business experts....
Jan 24, 2011
By Jerry Gleeson
Merrill Lynch said today it is rolling out a new pricing program that provides incentives for customers to hold $50,000 or more in BofA deposit accounts or Merrill Edge investment balances. The program, called Platinum Privileges, provides preferred pricing on home loans and better rates of return on CDs and IRAs. ...
Jan 23, 2011
By Kristen French
In a Dodd-Frank study released over the weekend, the SEC recommended that all brokers and financial advisors adhere to the same strict fiduciary standard that currently applies to investment advisers when they provide personalized investment advice to retail customers. But two Commissioners expressed their dissent for the study's conclusions in a separate letter to Congress....
Jan 21, 2011
By Diana Britton
Bank of America’s Global Wealth & Investment Management unit, which includes Merrill Lynch, posted increased revenue and advisor productivity in the fourth quarter, signs investors may be shifting assets into longer-term, higher-margin products, the company said Friday morning. ...
Jan 21, 2011
By Stan Luxenberg
Seeking to reach skittish investors, fund companies have been introducing a wave of absolute return funds. The funds aim to produce positive results almost every year. New entrants include Loomis Sayles Absolute Strategies (LABAX), GRT Absolute Return (GRTHX), and Eaton Vance Option Absolute Return Strategies (EOAAX). ...
Jan 20, 2011
By Diana Britton
NAPFA officially launched a new networking group geared toward younger people looking to get into the fee-only space....
Jan 20, 2011
By Kristen French
Morgan Stanley’s wealth management division reported $3.4 billion in revenue in the fourth quarter, up 7 percent versus the year ago quarter, as higher commission revenues, asset management fees and net interest income offset lower trading revenue. Pre-tax income for the quarter was $390 million, up 69 percent over the previous year. ...
Jan 19, 2011
By Kristen French
In a Dodd-Frank report to Congress Wednesday night, the SEC supported imposing user fees on investment advisers as the best method for improving oversight. But it recommended legislators consider three options, including giving responsibility to one or more SROs. ...
Jan 19, 2011
By Diana Britton
Mutual fund investors are expected to pour $250 billion into equity funds this year, as they reallocate their equity exposure back to their benchmarks, according to a panel from Deutsche Bank Private Wealth Management. The panelists said they’ll be allocating more into equities than other asset classes. ...
Jan 19, 2011
By Jerry Gleeson
Wells Fargo’s Wealth, Brokerage and Retirement business reported growth in assets, revenue and profits in the fourth quarter. Meanwhile, on a conference call with analysts, Chairman and Chief Executive John Stumpf voiced guarded interest in possible acquisitions in the unit. ...
Jan 19, 2011
By Charles Paikert
The need – and demand – for specialized services for the gay community is both substantial and growing, observers say. ...
