Results 6,151–6,200 of 6,285 found.
Listening for the ECHO in Client Calls
In the course of a typical week, all advisors and their support teams have lots of routine telephone interactions with clients. At a recent roundtable for advisors, a top producing advisor told Dan Richards about a simple step he'd implemented that significantly increased the mileage from those calls.
The Levers to Financial Freedom
by Russ Thornton,
Virtually the entire financial services industry is built upon spending vast amounts of time, money and other resources on things over which we have absolutely no control - like attempting to manage investment returns. In this guest contribution, advisor Russ Thornton shows that, by focusing on those things you can control, you as a financial planner can build better, more resilient plans for your clients.
Politics and Fund Managers
Those readers who would like to know whether to invest with Democrat or Republican fund managers finally have some guidance, thanks to a new academic study. We report the results, along with a host of reasons why you shouldn't read too much into this data. We also provide the names of the top fund manager donors to each party over the period from 1992 to 2006.
Additional Thoughts on the ?New Normal?
A number of readers responded to Geoff Considine's article three weeks ago, What the New Normal Means for Asset Allocation, including Larry Katz, Director of Research at Merriman, whose response we published last week. Katz criticized Considine along a number of dimensions, and in this guest contribution Considine defends his New Normal asset allocation.
Shiller P/E's and Predicting Returns
It becomes clearer every day that the stock market does not follow a random walk and that there may be some predictability in long-term returns. But there's little agreement on how best to make such predictions. In this guest contribution, advisor Joe Tomlinson takes a look at using price/earnings ratios to predict future stock market performance.
Building a Practice in America?s Fastest Dying City
While many - perhaps most - advisors use client appreciation programs as part of their marketing efforts, Mo Young has embraced this idea and made it his sole marketing focus. Young's practice is based in Youngstown, Ohio - which has the distinction of losing population more rapidly than any other city in the US - yet Young has added several hundred new clients over the last four years with his strategy.
The Case for Optimism
Only a few months ago, economist's doomsday scenarios caused widespread concerns that we were about to revisit the Great Depression. That consensus view on the economy has shifted remarkably quickly, with a much more positive outlook for the immediate period ahead. Dan Richards cites two recent articles making a persuasive case for optimism.
Letters to the Editor
In our letters to the Editor, a reader responds to Dougal Williams' article last week, A Crash Course in Investing: Six Lessons from the Market Meltdown, and other readers respond to our article on Actively Managed TIPS and to an Advisor Market Commentary on healthcare policy.
Beating a Dead Dragon
The last thing you may want to read is another article about China - how many ink cartridges have been exhausted writing about its phenomenal growth numbers in the past decade? - but what Vitaliy Katsenelson has to say may surprise you: China's economy is hardly as vibrant as everyone thinks it is.
Should Investors Hold More Equities Near Retirement?
by Ron Surz,
A just-published paper argues that investors should hold more equities as they near retirement, contrary to conventional wisdom and to the glide paths employed by the target date fund industry. Ron Surz examines this research, and argues that the authors of the paper failed to properly consider the risks inherent in such a strategy.
The New Normal and Asset Allocation Merriman?s Response
by Larry Katz, CFA,
Larry Katz, Director of Research at Merriman, Inc., responds to Geoff Considine's article two weeks ago, What the New Normal Means for Asset Allocation. He has multiple objections concerning much of Considine's logic, and would not recommend his alternative portfolio to their clients.
Jim Cramer Exposed: Does He Generate Alpha?
by Adam Jared Apt,
Paul Bolster and Emery Trahan, professors of finance at Northeastern University, were curious about the Mad Money phenomenon, and applied the full force of their analytical powers to a study of Jim Cramer's advice. They published their analysis earlier this year, and it reveals answers to key questions - such as whether Cramer's picks move the market or whether Cramer can legitimately call himself a skillful stock picker.
Turbulence Can Improve Portfolio Diversification
Classic diversification has failed, Mark Kritzman says, because traditional, independent measures of volatility and correlation don't provide enough information to indicate which portfolios will deliver the lower risk or higher returns that, at least theoretically, should come with investing in imperfectly correlated asset classes. Kritzman offers the concept of turbulence as an alternative way to approach diversification, and provides his latest research on the subject.
New Rules of Growing Your Book of Business: Microblogging with Twitter
by Dan Sommer,
Twitter has quickly become one of the fastest-growing and most talked-about marketing channels on the web. In this guest contribution, Dan Sommer explains how this rapid growth and wide adoption across many demographics makes it ideal for financial professionals looking for new ways to reach potential clients and build thought leadership.
A Crash Course in Investing Six Lessons from the Market Meltdown
The market decline from October 2007 to early March 2009 was the worst since the late 1930's. Stocks dropped 60%, investor uncertainty skyrocketed, and trust and confidence were shattered. The age-old rules for personal investing are now being questioned: Is Buy-and-Hold dead? Has Asset Allocation outlived its usefulness? Does Diversification still work? In this guest contribution, Dougal Williams provides answers to these questions that can serve as a guide for long-term investment success.
An Alternative Way to Conduct Client Reviews
Experienced advisors know there's no substitute for face-to-face meetings to review portfolios, especially in times such as these. In some cases, however, a client's location or schedule make it impossible to meet face-to-face - in those cases, Dan Richards offers an alternative method to conduct that review.
Actively Managed TIPS?
When PIMCO talks, the market listens. But we mustn't forget that the bulk of PIMCO's revenue comes from actively managing bond portfolios so, when they claim that alpha can be earned by actively managing TIPS, a healthy dose of scrutiny is warranted. Our article shows why that scrutiny is justified.
Beam Me Up Scotty, Vulcans Have Taken Over Planet Finance
by Mariko Gordon,
You don't need to be a dyed-in-the-wool Trekkie "to boldly go where no man has gone before." In this guest contribution, Mariko Gordon explains how one of these characters - Mr. Spock - helps shine a light on the value of emotion in the never-ending quest for sound investment decision-making.
The Business You Don?t Want: 401(k) Plans
Wealth managers who are considering managing 401(k) plans need to re-think those plans, according to Brian Murphy. Murphy, who runs Pathways Financial Partners, a Tucson, AZ-based investment advisory firm, says the 401(k) business has become a highly commoditized industry that makes it easy for clients to switch to an alternative, lower-cost provider.
Behavioral Finance Traps En Route to Investment Success
To understand why investors fail to stick to their plans, economists and academics are studying the rapidly growing field of "behavioral finance," analyzing the patterns of behavior that cost investors serious money. Dan Richards looks at the current research and its implications for investors and advisors.
What the New Normal Means for Asset Allocation
Bill Gross of PIMCO forecasts a New Normal - slow economic growth, higher inflation, and increasing correlations among asset classes. If this view is correct, what should investors do? Geoff Considine examines the implications for asset allocation and financial planning by stress-testing some well-known asset allocations to see how well they will serve investors in the forecast environment.
At the Risk of Repeating Ourselves
by Michael Lewitt,
We have said before that Michael Lewitt's newsletter is a must-read, and this edition is no exception. Lewitt questions whether we are witnessing a summer calm before the storm, comments on the secured and unsecured debt asset classes, and opines on the abuses of unregulated dark pools of capital. We encourage you to subscribe to this valuable publication through the link we provide.
How to Construct a Marketing Plan and Budget
One way to significantly increase the chances of marketing success is to develop a marketing plan and stick to it. Kristen Luke says forget the formal marketing plan and just outline your marketing activities and budget, and she provides a step-by-step guide for you to follow.
Convert Prospects to Clients through Drip Marketing
Kristen Luke covers drip campaigns, where an advisor sends marketing collateral to a prospect on a regularly scheduled basis. Luke discusses how you can add prospects to your existing client communications or create an independent program just for prospects.
A Wakeup Call for Advisors: Turmoil at the Top of the Market
Recent articles in Business Week, the New York Times and the Wall Street Journal describe turmoil among high-net worth investors and have profound implications for financial advisors. Dan Richards offers a five-point response for advisors to counteract investor disillusionment with their current relationship.
Paul Krugman on the Prospects for Recovery
by Eric Uhlfelder,
Nobel laureate economist Paul Krugman tells Eric Uhlfelder that massive government spending is essential for generating growth, but fears the first stimulus package will not be enough to keep the economy from slipping back into recession nor reducing unemployment.
A New Way to Measure Technology Adoption ? Return on Service
by Frank Reilly,
In this guest contribution, advisor Frank Reilly of Reilly Financial Services explains how technology helped provide his clients better, more personalized service. Along the way, he discovered that the truest measure of successful technological innovation isn't necessarily Return on Investment (ROI), it's what he thinks of as Return on Service (ROS).
How to Think about Return and Risk at the Same Time
by Adam Jared Apt,
In this guest contribution targeted to the educated layman, Adam Apt discusses the relationship between return and risk. Only when you can keep in mind at one and the same time these two concepts can you properly understand how to invest. And you will also understand why you should invest. Without the marriage of the concepts, you will be playing the market-or shunning it-as if it were a casino.
Uncovering the Mayhem in 2008 in the TIPS Market
In an interview two weeks ago, Yale Endowment manager David Swensen singled out TIPS as the best way to protect against inflationary and deflationary scenarios. We review a comprehensive study of the history of the inflation-indexed bond market, including an explanation for the extreme volatility in TIPS last year.
Flaws in the Case Shiller Methodology
To forecast economic growth, it's essential to understand the trajectory of the housing market. Most observers rely on widely publicized data like the Case Shiller index, but those metrics can be very misleading if you don't understand how they are calculated. If you don't understand that there are factors beyond Case and Shiller's control that impact the data, according to John Burns, the founder and CEO of John Burns Real Estate Consulting, a 20-person firm based in Irvine, California.
Moving Average: Holy Grail or Fairy Tale - Part 3
by Theodore Wang,
Buy-and-hold remains deeply entrenched in the financial planning community, despite many of the flaws Ted Wong's previous articles have illustrated. Although many financial advisors suffer dearly from their buy-and-hold practices, they are reluctant to change their approach. Who dares to challenge investment sages like Bogle, Siegel, and Malkiel who emphatically support this long-standing investment principle? Academic research studies overwhelmingly endorse buy-and-hold. How can they all be wrong?
Which Social Media Tool is Right for You?
Kristen Luke's philosophy is that the best marketing activities are the ones that are in line with the advisor's preferences and interests. Social media offers a rich array of tools - all you have to do is choose the one that best fits your personality and preferences.
How Long is the Long Run?
How long must one be invested in the equity markets to have full confidence that they will earn superior returns (as compared to bonds) and overcome the risks of bear markets? We look at the historical record to see how stocks have fared against bonds for various holding periods, and we look at research by Zvi Bodie and Mark Kritzman on this topic.
Three Powerful Words in Client Conversations
Some words are particularly effective when talking to clients and prospects, says Dan Richards. For example, when it comes to advertising and direct mail, nothing beats the word "Free" in a headline. Among the words used by advisors, arguably the single most powerful phrase is "Tell me more."
Q2 2009 Performance among the Most Popular Mutual Funds in the Advisor Perspectives Universe
Each quarter we analyze changes in the Advisor Perspectives database - a $50+ billion universe of high- and ultra-high net worth assets managed by Registered Investment Advisors. Our analysis has three parts. We look at changes in asset allocation, the performance of the most popular mutual funds, and the mutual funds that showed significant gains or losses in popularity during the quarter.
Three Easy Steps to Effective Networking
For some, breaking the ice when meeting someone new is a daunting task. Many advisors have confessed to Dan Richards that they are not natural salespeople and aren't comfortable talking to people they don't know. Here are three keys to networking effectively when you're in a setting where you're meeting new people.
Change or be Changed
New financial services regulation will touch on many areas, and mutual fund evaluation and monitoring is one likely candidate. Over the past two decades, screening has been at the core of most mutual fund evaluation processes. The advisor picks the criteria, sets a minimum or maximum level for each, and comes up with a list of funds that survive all screens. Bob Padgette and Ted Ponko of Klein Systems demonstrate several inherent flaws in this process.
by Ron Rhoades,
On July 17, 2009, the Securities Industry and Financial Markets Association ("SIFMA") announced that its Private Client Group Steering Committee unanimously supports a new federal fiduciary standard for broker-dealers and investment advisors, embracing a proposal advanced by the Obama administration a week earlier in a draft of the "Investor Protection Act of 2009." Ron Rhoades looks at whether this shift in direction by SIFMA poses a radical change in business models, or whether the "new federal fiduciary standard" is something else in disguise.
The Retirement Portfolio Showdown: Jeremy Siegel v. Zvi Bodie
When investing for retirement over long time horizons, advisors can choose from two apparently conflicting approaches. They can follow the advice of Wharton professor Jeremy Siegel, who has steadfastly advocated equity-centric portfolios, most notably in his highly popular book, Stocks for the Long Run. Or they can listen to Boston University professor Zvi Bodie, who says equities are simply too risky over the long term, and the core of a retirement portfolio should be Treasury Inflation Protected Securities (TIPS). Geoff Considine's article shows how to resolve this conflict.
Taking Care of Compliance
Without technology and automation, compliance will consume valuable time and resources. Even when things go relatively well, important regulatory obligations and requirements often fall through the cracks. William Mulligan of HedgeOP argues that getting the right tools in place doesn't just simplify a firm's regulatory responsibilities; it also sends a strong message to clients that the firm is trustworthy, operationally sound and up-to-date with its fiduciary responsibilities.
Some Signs of Life and Hope for a New Recovery
Calamos Investments' co-CIOs John P. Calamos, Sr. and Nick P. Calamos discuss the current market climate, implications of Fed and government actions, and investment opportunities in the shorter- and longer-term. Global governmental policies have restored a degree of confidence in the financial markets and many key financial metrics are back to pre-Lehman levels. Many investment opportunities will be available in the future. We thank them for their sponsorship.
Behavioral Finance ? A Three-Part Model for Client Relationships
Behavioral finance can improve your client relationships during market turmoil, if you recognize your clients' emotional right-brained reactions before you offer insights based on your analytical left-brained analysis. By applying a three-pronged process of Recognize-Reflect-Respond, you can adapt to new information in a thoughtful and effective framework.
Beyond Grantham: Politics and Investment Strategy
by Jerry Minton,
Jeremy Grantham, the chairman of GMO, believes strongly in what he describes as market "inefficiencies" within the "Presidential Cycle." He is referring to the fact that stock market returns are not distributed randomly across the four-year presidential election cycle, but rather are strongly skewed to favor the pre-election year. Grantham believes - and guest contributor Jerry Minton agrees - the evidence is incontrovertible: the behavior of the political class over the election cycle effects the distribution of stock market returns.
Results 6,151–6,200 of 6,285 found.