Retirement savings for those in the Latino community are low. According to a 2018UnidosUS report, only 31% of Latino workers participate in an employer-sponsored retirement plan, compared to 48% of all other workers ages 21 to 64. According to a CNBCstory, 54% of Latinos work for an employer that offers a retirement plan compared to nearly 70% for all other workers in the same category. My guest today has devoted his career to service the Hispanic community and will tell us how advisors can help address those gaps.
Women & Planning
A Proposal to Address Wealth and Health Inequality
Our nation’s major divisions are wealth and health inequality. Protracting both divisions are voters who want more benefits or lower taxes. I offer actuarially based solutions to both inequalities.
Demographic Trends for the 50-and-Older Work Force
Note: This commentary has been updated with the latest numbers from last Friday's Employment Report. Consider: Today nearly one in three of the 65-69 cohort and one in five of the 70-74 cohort are in the labor force.
Q1 2021 Strategy Letter
Well, let’s just say things are different in 2021.
Title IX Court Decisions Make It Harder for Biden to Rewrite Rules
A string of recent court decisions have accepted sex-based discrimination claims by male students after their schools sanctioned them for harassment or assault, potentially complicating plans for a complete overhaul of former Education Secretary Betsy DeVos’s campus sexual misconduct regulations.
The Question Nobody Asks About Their Brand
There’s a single question that nobody asks. It’s one that unlocks immense value not just for your brand, but also for the entirety of your business.
Dealing With an Inflation Head Fake
We forecast a strong global recovery in 2021 amid significant fiscal support, accommodative monetary policy, diminishing lockdowns, and accelerating vaccinations.
The Coming Revolution in Complexity Economics
Standard neoclassical economics is a failure and is driving many of the crises facing our world.
Diversity and Inclusion in the Asset Management Industry and Advisory Profession
Shundrawn Thomas is perhaps the only and certainly one of the few African Americans who leads a global investment firm. He’s been quite outspoken and visible with his views on racism and inequities. Over the last year, he wrote three open letters to civic and business leaders which addressed them in an extremely personal and direct manner. He has also appeared numerous times on television presenting the investment case for gender diversity.
The 1970s Never Ended
Big economic storms are rare and usually end quickly, but they tend to have long-lasting effects. Today I want to talk about a storm 50 years ago that still affects us now. Important things happened in the 1970s.
Spotlight DeNA: Embracing the User’s Point of View
Pronounced “D-N-A,” this Knowledge Leader was founded in 1999 by three Tokyo entrepreneurs seeking to establish an online auction site.
Handling Uncomfortable Referrals
A woman to whom I was referred because she is facing a nasty divorce turns out to be a close acquaintance of mine.
The Disappointing Record of Socially Responsible Hedge Funds
New research shows that hedge funds that proclaim to adhere to socially responsible investment principles fail to follow through on that commitment and they deliver inferior performance results. The same is true of institutional funds, although the evidence is weaker.
Nationwide’s Sixth Annual Advisor Authority Study – Women’s Retirement
As the COVID-19 pandemic wears on, women investors are more concerned about their finances and feel less prepared than they’ve been in years. Nearly three in four women with investable assets of $100,000 or more said the pandemic has negatively impacted their ability to retire. Ann Bair and Lori Hall present the findings from Nationwide’s sixth annual Advisor Authority study, powered by the Nationwide Retirement Institute®, reflecting the responses of more than 2,500 individual investors, advisors and financial professionals.
Quick Thoughts: Be an Ally to Women Entrepreneurs and Herstory
Entrepreneurial women’s lack of access to venture capital (VC) is one of the oldest stories in the world. How do we change herstory and empower women entrepreneurs and founders?
Why are Financial Planners Failing Female Investors?
When it comes to investments, economic growth, and entrepreneurship, women remain structurally excluded from high-level participation compared to men.
Why China? A Macro Perspective
In this issue of Sinology, we provide a macro perspective for thinking about whether an investor’s portfolio has enough exposure to China.
Asia’s Health Care Sector Accelerates
The region’s health care sector is setting a brisk pace for growth and innovation. Our team discusses the opportunity set.
Three Ways the Biden Administration Will Boost ESG Investing
The Biden administration’s efforts to tackle the COVID-19 pandemic, promote racial equity, and address climate change may well continue this momentum, creating powerful incentives for companies to do the right thing by the environment and their stakeholders.
Evolving Risks, School Reopenings, Long-Term Rates
How does risk management work when risks change rapidly?
An Employment Priority: Women Reentering the Workforce Are Pivotal to U.S. Economic Recovery
One year since the inception of one of the most severe recessions in modern history, women’s engagement in the labor force is crucial to the economic recovery.
Valuing Diverse Perspectives
As International Women’s Day approaches, three PIMCO executives share their perspectives on diversity in the workplace.
To Spend or Not to Spend?
Retired participants may leave assets untouched well into retirement due to deep-seated fears that they may outlive their money.
Are Growth Stocks Attractive in a Post-Pandemic World?
The recent selloff of US growth market darlings reflects increasing questions about whether their growth potential still justifies exceptionally high valuations. Away from the froth, growth investors can still find solid return potential in quality companies with profitable, sustainable business models.
The Recipe for a Successful Practice
There is a recipe for advisory success, but it looks more like one for chili than for a cake. In other words, advising is more cooking than baking.
U.S. Economy’s Revival Pivots on People Returning to Yoga, Bars
Wall Street’s most bullish economic forecasts hang on a simple prediction: everybody will flood back soon to their local gyms, bars and yoga studios as if the pandemic was in the past.
NewsLetter - February 2021
We hope you enjoy Harold Evensky's latest NewsLetter.
The Pandemic Has Exposed the Gap in Women’s Financial Needs
Increased marital stress is highlighting the financial challenges divorce brings, especially to women.
A Financial Advisor's Guide to Creating a Marketing Funnel
I will break down the levels of a standard marketing funnel and provide specific steps that financial advisors can take to create their own.
Minisode - Overcoming the Diversity Challenge in the Advisory Profession
It doesn’t take Black History Month to remind our listeners of the lack of diversity in the advisory profession. Of the countless conferences I’ve attended – when it was possible to attend such conferences – the overwhelming majority of attendees were like me: white, male and middle aged. We’ve seen a number of efforts to address this lack of diversity, particularly in the last year in light of the tragic events that have particularly affected people of color. Here to talk with me today is someone at the forefront of those efforts within the advisory profession.
How COVID-19 Vaccines and Brexit Create the Trade of the 2020s
In late 2020, a new kid emerged on the bargain-of-the-decade block. UK stocks, and notably UK value, reached very cheap levels relative to value stocks in other developed economies. Today, UK value remains at remarkably low valuations relative to most of its fundamentals.
Powell’s Approach to Recovery, Inflation Will Test Union Loyalty
Jerome Powell enters the final year of his term as Federal Reserve chair enjoying the support of labor unions with influence in Joe Biden’s White House, an advantage as the administration prepares to decide later this year whether to reappoint the central bank chief.
SATs, Once Hailed as Ivy League Equalizers, Fall From Favor
In this strange college admissions season, fewer high schoolers are turning in that dreaded number, their SAT score.
EM Is No Longer a Commodity Play
The Emerging Markets (EM) asset class is often labelled a commodity play for investment purposes. The argument is simple and directional; EM countries export commodities, so rising commodity prices are good for the asset class, whereas falling commodity prices hurt EM countries.
Lessons from a Shocking Apology
We can learn valuable lessons from T.J. Ducklo’s written apology.
Powell Urges ‘Society-Wide’ Push to Deliver Full Employment
Federal Reserve Chair Jerome Powell said the U.S. job market remains a long way from a full recovery and called on both lawmakers and the private sector to support workers.
Investment Strategies for a Booster-Shot Recovery
Our Fixed Income CIO Sonal Desai shares her investment views and strategies for the post-pandemic recovery. She explains why inflation looks likely to gain steam, and how the balance of fundamentals and valuations become especially crucial today when looking for attractive returns in fixed income.
Make Valentine’s Day Count
The customary Valentine’s Day activities ignore the real issues many relationships face.
Will Demographic Trends Drive Higher Inflation and Interest Rates?
Powerful demographic trends will cause higher inflation and interest rates, and a reduction in inequality as labor reclaims its bargaining power in the global economy.
How to Spot a High-Conflict Person
While your chances of winning an argument on any given topic are slim, there’s one situation where it’s non-existent. That’s when you’re confronted with a high-conflict personality.
Fed Dissent and Bond Volatility Are in Powell’s Taper Future
Jerome Powell doesn’t want to talk about scaling back massive Federal Reserve asset purchases -- at least not yet -- but it’s only a question of time before the discussion resumes and that might not be a bad thing.
Burton Malkiel’s Misguided View of ESG Investing
Malkiel and other detractors who claim ESG is a fad are missing a key element in their arguments, namely that companies are incorporating sustainability into their operations both in response to – and increasingly quite apart from – the ESG investing trend.
Small Change and The Depression of 1837-1843 - Part Three
The purpose of the Constitutional gold standard was to establish a reference point against which the prices of credits and commodities were set by the open exchange of bank notes and other promises to pay money.
How to Choose a Sustainable Equity Portfolio
As inflows to sustainable equities break new records, here’s what investors should look for to identify portfolios that align with their responsible investing goals.
Power to the Players: Reddit, Robinhood and Bitcoin
Those of you with kids and grandkids may at some point have stepped inside a GameStop. If so, you might be familiar with the video game retailer’s tagline: “Power to the players.”
How Shopping—and Investing—Might Be Enabling Modern Slavery
It may seem shocking, but a simple trip to the local store to pick up fresh produce or clothing could enable human exploitation. For investors, those same connections can exist within their portfolios—and it takes more than a passive effort to root them out.
The Best and Worst Investment (and other) Books of 2020
It has been my tradition to informally rate the investment-related books I read in the past year. I have also included some novels and books of general interest. Here is my list of winners and losers.
How to Develop a Content Strategy
I’m going to help you get your financial advisory firm’s content strategy off the ground with a few basic steps.
Five Names for Investors to Know in the New Administration
Their decisions in the coming months could have an impact on the markets and investors.
Yellen Opens Debate on Giant Spending, Saying the ‘World Has Changed’
Janet Yellen invoked an enduring era of low interest rates in delivering the Biden administration’s opening argument to lawmakers for its $1.9 trillion Covid-19 relief proposal.
Trump Leaves Town an Outcast, Trailed by Pandemic, Job Losses
Donald Trump departs Washington on Wednesday with Americans more politically divided and more likely to be out of work than when he arrived, while awaiting trial for his second impeachment -- an ignominious end to one of the most turbulent presidencies in American history.
Yellen Runs Into GOP Resistance to ‘Act Big’ Call for Stimulus
Janet Yellen encountered early Republican resistance to President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan in her confirmation hearing to become Treasury secretary Tuesday, as she sought backing for what she described as vital support for the economy.
Biden’s $2 Trillion Stimulus Plan – Implications For The Economy
This enormous stimulus plan will have numerous effects on the economy, including the likely loss of millions of jobs, which the media doesn’t report, so that’s what we’ll talk about today.
The Speculative “V”
The speculative “V” is one of the most interesting and challenging features of the market cycle. For passive investors, it can be a period of exhilaration followed by panic.
Why the B Corp Certification Matters
The B corp certification, which started in 2006, recognizes for-profit companies that use business as a force for good.
Here Are the Major Parts of $1.9 Trillion Biden Relief Plan
President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic.
U.S. Population Is Growing at Slowest Pace Since World War II
America’s population is growing at the slowest rate since World War II, threatening to undermine demand and investment in the economy, according to a new blog post from the St. Louis Federal Reserve.
Scar Tissue: Weak Jobs Report Emphasizes COVID’s Scars
Last week was shocking and extraordinarily sad; and as if Americans didn’t have enough with which to contend, it was capped off by a weaker-than-expected December jobs report.
Economic Commentary: Senate, Stimulus, and Brexit
The Senate outcome opens the door to future cooperation, while Brexit sets the stage for future frictions.
How to Double the Size of an Investment Firm in a Pandemic
Doubling the size of an investment advisory firm is hard even without a pandemic. But Dave Welling, the chief executive officer of Mercer Advisors and this week’s guest on the Masters in Business podcast, did it.
J O Hambro Capital Management 2021 Outlook - Better Times Ahead?
Free from a house view on economies, markets or stocks, J O Hambro Capital Management’s (JOHCM) fund managers invariably see the world in different ways. We asked a number of our managers for their thoughts on the outlook for their asset class next year, what they would like to see and the possible surprises that 2021 could bring.
Parents Shouldn’t Wait to Pass Down Their Wealth: Erin Lowry
In the coming decades, a Great Wealth Transfer will be upon us. Gen Xers and Millennials are expected to inherit trillions of dollars. Some estimates say as much as $68 trillion will be passed down from Baby Boomers.
Amazon Investors Push for Racial Audit, Worker on Board
An Amazon.com Inc. institutional investor is pushing the world’s largest online retailer to conduct an audit on racism and diversity. Three other shareholders want Amazon to name a worker to its board.
It’s Easier for a Woman to Become Chancellor Than CEO in Germany
Critics say it lacks both ambition and teeth.
Citi’s Record Promotions for Women Still Just 29% of Total
Citigroup Inc. promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total.
Looking Back at 2020
From global responses to local lockdowns, we all witnessed dramatic changes in 2020.
The 2021 List Issue, Part 2: The Re-Evaluation List for Non-Profits and Healthcare
As the sun sets on one of the most challenging years in memory, many healthcare systems and other types of non-profits find themselves in starkly different financial situations than they were at the start of the year.
Real Estate Disruptions Accelerate Active Opportunities
Real estate is no exception to COVID-19’s disruptions, accelerating trends, and shifting how we live, consume, and work.
What You Can Learn from Three Exceptional Personal Brands
In the past, I’ve written about how to brand and market your firm. Today, I’m taking a different tack. How do you brand … yourself?
Robots Once Seen as Job Killers Now Protect Workers From Covid
For decades, the attitude of unions and their advocates to increased automation could be summed up in one word: no. They feared that every time a machine was slipped into the workflow, a laborer lost a job.
The High Financial Cost of Gray Divorce
As devastating financially as a frivolous lawsuit may be to one’s wealth, it’s nowhere near what I consider the number-one destroyer of financial wealth – divorce.
Costly Medicare Missteps to Avoid in 2021
As we complete another round of annual election period craziness in Medicare, it’s time to pause, reflect and figure out what in the heck to help you all with next year!
Slow Brexit, Overloaded Shippers, Growing Fed Balance Sheet
Brexit negotiations had another unproductive week. Parcel shipping volumes are breaking records. And when and why might the Fed alter its asset purchases?
Are You Using Your CRM to Its Fullest Potential?
Whether you’re looking to dust off your CRM software and learn to better use its features, or you’re looking to make a CRM investment for the first time, here’s what you need to know.
Emerging-Markets’ Prospects Bright, Even If Risks Never Far Away
For all the risks of a year-end cooling-off period, emerging-market backers can’t complain about the lie of the land right now.
What changes could a Biden administration bring to ESG investing?
Will support for ESG investing in the U.S. increase under the administration of President-elect Joe Biden?
The Case for a Defensive Allocation
Over the last six months, my firm has skewed its portfolio towards defense companies. We have done this intentionally. The world is less safe today than at any time since the Berlin Wall came down.
How Wrong Was Milton Friedman? Harvard Team Quantifies the Ways
George Serafeim wants to revolutionize the way businesses calculate their success.
The Misguided Role of Institutional Investors in Climate Change
The institutional investor’s role in the effort to combat climate change is misplaced.
Selecting Professionals for Special Needs Planning
Unfortunately, very few professionals are well versed in this highly specialized area of planning. The results of an improperly designed plan can be devastating for beneficiary children with disabilities.
The Challenge Facing ESG Investors
The data used to construct ESG portfolios differs widely among providers, meaning that funds may not be aligned with your clients’ objectives and beliefs.
Harvey Weinstein Is Covid-Free But Advisers Say His Health Declines
Harvey Weinstein has tested negative for Covid-19 but his representatives say he’s in “critical” condition.
Minisode - Understanding the Hispanic Wealth Management Market
Retirement savings for those in the Latino community are low. According to a 2018 UnidosUS report, only 31% of Latino workers participate in an employer-sponsored retirement plan, compared to 48% of all other workers ages 21 to 64. According to a CNBC story, 54% of Latinos work for an employer that offers a retirement plan compared to nearly 70% for all other workers in the same category. My guest today has devoted his career to service the Hispanic community and will tell us how advisors can help address those gaps.
Four Habits to Get More Referrals
Here are four habits to incorporate into your daily routine that will trigger referral activity.
Google Employee Calls Sexual Misconduct Settlement a ‘Whitewash’
A Google employee in a court fight with the search company is trying to block a $310 million settlement to resolve separate litigation over sexual harassment and executive misconduct.
Pelosi Faces Challenges of Slim Majority and Party Divisions
House Speaker Nancy Pelosi faces the imminent challenge of uniting a divided Democratic Party behind President-elect Joe Biden’s agenda without endangering her slim majority in midterm elections two years from now.
How I Process Ideas Into Investments
Abstract investment themes are much more than entertainment. They’re serious business and have roles to play in portfolios. I share my process for incorporating then into mine.
The Rebalancing Premium in Risk Parity Portfolios
This short article investigates the rebalancing premium that investors may expect from risk-parity portfolios.
With a Divided Government, Healthcare Companies Appear Well-Positioned
With transformational change likely off the table, healthcare and pharmaceutical companies should be well-positioned to weather the next presidential term.
Leveraging Tech Tools to Grow and Scale Your Practice
During the recent Advisor Perspectives Thought Leader Summit, two of the industry’s most respected experts shared their best practices and insights on growing and scaling your business with fintech solutions.
Toward a Truly Diverse Profession
The profession has a diversity and inclusion problem. Look at the speakers pictured on the advertisements for financial planning conferences, and you see white men in business suits with occasional white women.