Enjoy the current installment of "weekend reading for financial planners" - this week's edition highlights a recent development on the regulatory front regarding the SEC's implementation of a fiduciary standard for brokers, and some sharp criticism of FINRA and whether it should even exist from the Journal of Financial Planning. We also look at a few technology pieces, on the rise of Salesforce for CRM, and the emerging use of online scheduling programs to set up client meetings. There's also a great piece from the Journal of Financial Planning on the next generation of Modern Portfolio Theory and portfolio design, and two good investment pieces by John and John (Hussman and Mauldin). We wrap up with an interesting article from Advisor Perspectives on how much of the financial press is misinterpreting and misapplying the Reinhart and Rogoff research about the implications of high debt-to-GDP levels. Enjoy the reading!
Enjoy the current installment of "weekend reading for financial planners" - this week's edition highlights a nice technology article for the new year, a great summary of recent retirement research, two notable regulatory actions this week, and some interesting investment and economic discussions for the coming year. We finish with a striking blog post that puts a good perspective on what the Occupy Wall Street movement is about - not resenting the wealthy and successful, but "just" those who profit at the expense of others. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - this week's edition highlights a few articles on advisor use of social media, an interesting look at whether promoting financial literacy is a red herring for real consumer protection in financial services, and a good technical article on planning issues for unmarried couples. Also included is a controversial discussion of how TIPS may not be quite as "safe" as we make them out to be, and a look at a new series of mutual funds that may attract increasing client attention in the coming years. We finish with a quick look at a Forbes article discussing the decision by a major firm with 80,000 employees to completely phase out email over the next 18 months in lieu of meetings, telephone calls, text messaging, and social media for communication; will this be a failed experiment, or a glimpse into the future of business communication? Enjoy the reading!
Enjoy the current installment of "weekend reading for financial planners" - this week's edition highlights a number of articles on interesting industry trends, from the ongoing movement towards tactical asset allocation (now used by a majority of advisors), to the difficulties in the variable annuity marketplace suggesting that perhaps annuity expenses have not been too high but in fact were too low in recent years, to the rapid growth of independent advisors in recent years that threaten to overtake the wirehouses by 2013. In addition, we look at the latest from John Hussman on a looming US (and global) recession regardless of recent positive data "surprises", along with John Mauldin on US Federal deficits and the problems in Europe, another piece on Europe by PIMCO's Mohammed El-Erian, and a fascinating - albeit scary - piece about what's really been going on with the "missing" customer funds at MF Global. We wrap up with what is sure to be a controversial article by Bill Bachrach, suggesting that the primary reason financial planners lack trust with the public is because too many don't have the integrity to walk their own talk and use a financial planner themselves. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - the major highlight this week is the release of the Financial-Planning-Coalition-sponsored study on the costs of various regulatory oversight options, with some pretty shocking costs for FINRA or a new SRO to take over. Other articles include a discussion of Schwab's first franchise branch opening, the emerging field of financial therapy, an analysis of annuity guaranteed withdrawal riders and their limitations due to ongoing inflation, and two great investment pieces on last week's European Summit by John Mauldin and GaveKal, along with a somewhat disturbing warning by John Hussman that the market may be in significant near-term danger. We wrap up with a brief article that was written for entrepreneurs, but translates in my opinion to virtually anyone in professional services, taking a hard look at what your time's really worth, and what you should - and shouldn't - be doing yourself versus outsourcing to others. Enjoy the reading!
Enjoy the current installment of "weekend reading for financial planners" - highlights this week include two great year-end wrap-up articles on technology, including an overview of Financial Planning magazine's huge annual tech survey, and technology highlights from consultant Bill Winterberg in MorningstarAdvisor. Also included in a striking interview with research and planning pioneer Bill Bengen, who suggests that safe withdrawal rates are still valid, but that buy and hold isn't, and an interesting article from Angie Herbers in Investment Advisor about some owners who may be experiencing "owner's guilt" over the profitability of their business, and making some bad decisions as a result. Then there's a quick look at some thoughts about the new cost basis reporting rules that are being implemented by the IRS, and two somewhat non-traditional investment and economic pieces from some industry stalwarts, Howard Marks of Oaktree Capital and Jeremy Grantham of GMO. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - highlights this week include a new pieces about tactical asset allocation by yours-truly in the Journal of Financial Planning, an interesting article about the correlation between use of financial planners and willingness to invest in risky assets, a number of great articles about the unfolding debt crisis in Europe and its economic and investment implications, and a nice discussion about the importance of establishing a work environment that's right for you. We also look at a great piece from Angie Herbers discussing how different today's new financial planners are compared to those of 10, 20, or 30 years ago - and the ways firms need to adjust to maximize on the opportunity. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - highlights this week include two recent pieces about the FPA (one positive and one negative), some articles about how behavioral finance is starting to change how we look at various financial and economics problems, a few technical articles on health care and non-spouse beneficiaries of inherited IRAs, and another great piece from John Hussman about the current economic environment. We also look at two pieces highlighting new ways to look at the value and power of blogging and starting a Twitter account. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - highlights this week include several recent pieces about behavioral finance (both by, and about, research luminary and Nobel prize winner Daniel Kahneman), some interesting glimpses of how social media and the online world is shifting the process of finding a financial advisor and delivering financial advice, and a few investment pieces about the unraveling European (and now especially, Italian) sovereign debt situation and a growing likelihood the ECB will be compelled to "start the presses" to address it. We also look at two pieces highlighting trends in the industry, especially the RIA space. Enjoy the reading!Read More...
Enjoy the current installment of "weekend reading for financial planners" - highlights this week include a striking and somewhat controversial article about a financial planner who lost his house via a short sale in the Las Vegas housing bubble, a number of articles about recent initiatives from the FPA and NAPFA, and two investment articles, including a piece by Rob Arnott about starting to buy long-term inflation protection at today's "cheap" prices, and an article by Hussman suggesting a near-100% probability of an imminent recession with a recommendation to reduce risk exposure. Enjoy the reading!Read More...