This article discusses the elements of the new standard and proposes some considerations for written supervisory procedures that establish practices and procedures reasonably designed to ensure compliance with Reg BI and training tips to demonstrate the efficacy of those policies and procedures.
The legal framework by which paper money and coins came to be accepted for use in private transactions and international trade was established in the 18th century by George Washington and Alexander Hamilton.
The economic effects from COVID-19 will be devastating. Stock and asset prices will fall dramatically and will take years to recover. U.S. Treasury yields will turn negative. Sell “risk-on” assets, increase cash, and buy Treasury bonds.
For those who believe that capital markets should be free from undue government interference, the Fed’s adoption of expansive programs raises the question of whether it has gone too far.
Visualizing your retirement savings not as dollars, but as tokens – like those used as the medium of exchange in amusement parks – will help retirees overcome the pernicious bias of myopic loss aversion. Visualizing your retirement savings not as dollars, but as tokens – like those used as the medium of exchange in amusement parks – will help retirees overcome the pernicious bias of myopic loss aversion.
There has been so much coverage of COVID-19 that some of the language of epidemiological models used to forecast the virus’s evolution is now familiar to us. But for those who do not fully grasp how those models work, here is a little primer.
Political scientist Ian Bremmer says there are silver linings in the “depression” brought on by the COVID-19 pandemic. In fact, he said, the world needed this crisis to happen.
Covid-19 outbreaks at slaughterhouses have led to the largest pig culling effort the U.S. has ever seen.
U.S. investors are helping Australia’s exchange-trade funds withstand one of the roughest periods for financial markets.
To the analysts at UBS Global Wealth Management, the $3.9 trillion municipal-bond market is heading into the biggest financial storm anyone has ever seen.
The conventional wisdom is that U.S. stocks are overvalued and the only uncertainty is the timing of the inevitable correction. But Robert Shiller says his CAPE ratio, when considered alongside low bond yields, is not giving “much of a sell signal” for U.S. stocks.
An economic recovery should start next year, but there will be trouble later in the decade, says the well-known economist Anatole Kaletsky. In the short term, investors should gird for disappointing equity returns.
The poor performance of the Fama-French factors over the last decade has led many to question the existence of the premiums. But new research shows that those 10 years were not unique, and that factor-based investing have prevailed following periods of underperformance.
In terms of the long-term effect on economic outcomes, the disease is likely to be anything but an equalizer.
Conservatives in the Trump Administration are reportedly considering a crisis-fighting measure to ease people’s financial strains by allowing them to access Social Security benefits early.
To improve your website, I’m sharing the top five elements the highest converting advisor websites have in common.
Some emerging phishing tactics are very tricky to detect.
Here are five financial and business realities that have figured in a majority of the counsel I’ve offered my female entrepreneur clients as they launch and refine their businesses.
What communication practices are best during these times?
The pandemic has profoundly changed our lives, sometimes in unexpected ways. I wanted to share some of my personal experiences with you in the hope you might find them useful.
Networking is still happening during COVID-19. Let’s compare two types of networking: external and internal.
Investors are continuing to pour cash into gold exchange-traded funds, with 2020 inflows already exceeding any full year on record.
As nations have closed borders, some individuals are facing the prospect of higher taxes from spending too many days in a foreign locale or having to shelve plans to obtain tax breaks by moving abroad.
Shutting down the U.S. economy was appropriate in the early days of the COVID-19 crisis, but now the country needs to shift to mitigating risks, as it does with risks from terrorism or auto accidents, says James Bullard.
We are past the worst, according to Matt Ridley, and can begin to think about how we can put the world back together. But we need innovation.
David Rosenberg bluntly told attendees Monday at John Mauldin’s Virtual Strategic Investment Conference 2020 that the stock rallies in recent weeks ignore reality and don’t recognize that the United States is likely entering a depression, facing double-digit unemployment for at least three years, secular changes in consumer spending and saving, and deflation followed by stagflation.
COVID-19 makes 2020 a good year for clients to consider a Roth conversion, says leading financial advisor Elizabeth “Lizzie” Evans.
Some speculate they’re just starting the worst slump in years, spelling trouble for anyone late to the private-asset party.
The First Eagle Overseas fund (SGOVX) has an exceptional 27-year history. Since its inception, it has returned 9.15% versus 4.03% for the MSCI EAFE index. It was originally managed by the legendary Jean-Marie Eveillard. I spoke with its current management team about how the fund has performed during the coronavirus crisis and why financial professionals should look to diversify outside the U.S. markets.
The recent market volatility has caused stress, fear and even panic. But that emotional toil can be alleviated by constructing what we call “dedicated portfolios,” rather than blindly following the precepts of modern portfolio theory.
This century is barely 20% complete, yet investors have suffered through three extreme bear markets. Let’s look at which asset classes provided the much-sought diversification to offset losses in U.S. equities.
Economic devastation will not heal itself in months or quarters and disappear, even if the virus does. The implications of bankruptcy and joblessness and a host of other financial, psychological, and societal issues dictate the path going forward.
Ever wonder if you’re offending others on your Zoom calls?
With lower expected returns on the horizon, endowment managers are questioning whether standard annual spending rates will be sustainable and whether certain spending formulas are better suited for the muted environment investors face.
Elon Musk has emerged as arguably the loudest voice in corporate America advocating for the economy to reopen.
In all his years in the Texas oil patch, the billionaire Russell Gordy has never seen a bust like this.
Since he launched his technology-focused hedge fund in 2017, he has been running it from a home office.
Coping in the current pandemic is tough in many ways, including psychologically, so it’s no wonder that many therapists have seen business surge as clients turn to them for guidance amid the unknown.
Customers will be able to buy fractional shares with a minimum of $5 and a maximum of $10,000.
According to Niall Ferguson, the lesson from history we should embrace is that, despite the noble work of scientists, we won’t find a vaccine for COVID-19. As in the past, this disease is something we have to manage and live with.
Even among Wall Street luminaries, Fink speaks with particular clout. He has been advising President Donald Trump on navigating effects of the coronavirus pandemic. And BlackRock is playing a key role in the Federal Reserve’s efforts to stabilize markets.
With the breathtaking uncertainty created by the Covid-19 pandemic, simple formulas no longer work. Here's what helps now to value investments.
With the S&P 500 up more than 25% from its March low, pension funds and other investors are asking if they should buy portfolio insurance via protective puts and, if so, whether it’s cost effective.
With risk tolerance being tested for the first time in a decade, investors are reconsidering their risk appetites. Advisors have a plentiful choice of tools to assess investor risk tolerance. But the same isn’t true on the institutional side.
Retail, hospitality, travel, live entertainment and professional sports are some of the industries he sees continuing to struggle, but he disagrees with conventional wisdom that big cities like New York are doomed and warehouses are the smartest bet in commercial real estate.
Many Americans are wondering whether college is worth the enormous sacrifice, and they just might conclude that there must be a better way.
Last week industry trade associations and lobbyists, led by the FSI, petitioned the SEC for a new rule to authorize the SEC to tell advisers and brokers how to disclose conflicted fees.
This article describes the components necessary for special-needs planning.
I’ve pulled together the top five marketing questions I have received from the hundreds of advisors I’ve spoken to who are moving to independence.
You may not need to be active on every social media platform. It depends on the niche you target.