Latin America tilted further left this week as Colombian voters elected Gustavo Petro as president. Come August, the former Bogotá mayor and member of the M-19 guerrilla organization will join the region’s growing list of leftist leaders in a political shift some are likening to the “pink tide” of the late 1990s and early 2000s.
While everyone’s financial journey is different, there are actionable steps advisors can take to empower their female clients’ financial futures and health.
Because the consequences of leaving longevity unmanaged are likely to be the most devastating, advisors must act now to address it.
There is no Hall of Fame for single parents. There should be. The challenges of being a single parent are monumental.
In 2003, at age 19, Elizabeth Holmes founded Theranos, and it became a $10 billion company by 2014. But it was a fraud. Aspects of target date funds mirror the Holmes story.
I would be very concerned if my financial planner didn’t have their own planner. Research shows that financial planning results in increased emotional and financial wellbeing, even for clients who are planners themselves. Use our Premium membership to add your logo to this article and send it to your clients and prospects.
With the Federal Open Markets Committee due to meet Wednesday, there was no way policy makers could guide the market on how last week’s awful inflation data for May had changed their plans.
I’ve supported many clients through times of loss and transition such as divorces, deaths of parents or spouses, business failures, and natural disasters. Following are some of the things I’ve learned.
Despite the massive selloff in equities this year and persistently high inflation, Dawn Fitzpatrick isn’t worried about a recession in the immediate future.
How can you put the “know, like, trust” element of relationship marketing to work for your business at scale?
Meet a woman driven to change investment regulation and understand why it’s important that she succeeds.
How are advisors coping with the new Department of Labor (DOL) rollover rules? Here are a dozen observations.
Memorial Day deserves the great recognition it gets. Remembering the service of those who died for our country is a civic duty. This includes remembering, doing and acting in a manner that there is no doubt the character of military and finance leaders must be first.
The price of foods, fuels and other essential items are spiraling ever upward as Russia’s war on Ukraine compounds supply-chain woes stemming from the pandemic. Central banks may be in the driving seat when it comes to tackling inflation, but it’s governments that face the fallout and so are compelled to act.
The parallels between the 2020s and the 1970s grow more numerous by the day. The economy faces the threat of stagflation. Fuel prices are surging, and shortages loom. Politicians are flailing. The international environment is deteriorating. The Supreme Court is revisiting the 1973 Roe v. Wade ruling.
A fatal shortcoming lies beneath the academic papers that have relied upon “back-testing” to promote the 4% rule. Use our Premium membership service to add your logo and send this to clients.
Plan for long-term Inflation that will be fought aggressively by the Fed, higher policy rates, and slower economic growth, according to Raghuram Rajan.
Note: This commentary has been updated with the latest numbers from the latest Employment Report for April. 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.
Modern slavery is a lucrative business that can’t exist without the financial system.
Unless RIAs modify their communications strategies, the failure to address the need for retirement income communications will be felt for years.
We have a woman on our team who seems to enjoy stirring things up.
From organizing your closet to deep cleaning your kitchen, we're sure there's plenty for you to do. But we've got one more item to add to your list – spring clean your business plan.
In an ambitious new book, the economist Andrew Smithers rejects core “Newtonian” principles of economics, replacing them with radical departures from conventional wisdom. But as I will explain, some of Smithers’ theories fail meet the standard of empirical verification.
Imagine that you have joined some friends for a day of fishing. About two miles offshore, you sense that something is wrong. The small, single engine boat’s handling has changed. There seems to be more. Use our premium service to add your company’s logo and send this to clients.
Firms often consider launching multiple niches rather than focusing on just one. Though sometimes successful, this approach can dissipate your marketing efforts. This article offers guidelines to determine whether having multiple niches is for you.
Many advisors would greatly benefit from scale yet are hamstrung by the very temperament that led to their success in the first place.
Here are five ways to win new business and clients for life by creating urgency, so your prospects want to create a financial plan now with you.
On May 29, Colombia could elect its very first leftist president should Gustavo Petro receive a majority of the vote. The former congressman and mayor of the capital city of Bogotá, Petro is an unabashed admirer of and Hugo Chávez.
If you haven’t noticed—perhaps because you live on Mars—inflation is here. Not just in the US but almost everywhere. Prices for everyday goods and services, including necessities like food, are climbing rapidly. The US Consumer Price Index rose 8.5% in the 12 months through March… and we know it understates categories like housing.
Jerome Powell wants to quell inflation without sinking the labor market. Success or failure will be a defining part of the Federal Reserve chair’s legacy and the pro-employment policy he’s championed.
Depending upon the annuity that is being recommended and its purpose, your discovery process should include these questions. This article is written for clients and can be forwarded to them using our Premium Membership Service.
We’ll tackle IRMAA in this article. I’ll provide you with information to teach you how you might be able to get rid of IRMAA.
Does the scenario below sound likely? If so, you are among the thousands of RIAs who are likely to lose significant assets over the next decade.
In this article, I will explain how to structure an income strategy that best serves the needs of constrained investors. Demographic, economic, cultural, and social forces argue for a new approach to retirement planning.
RIAs must align their communications, planning methodologies, and product set with the needs of retirees, especially women, whose chief priority is reliability of income more than return on investment.
It’s Easter weekend, so we are going to revisit a 2018 letter about the yield curve. The yield curve is much misunderstood and misused by many analysts. This letter will give you the tools to understand the correct importance and relevance of the yield curve. And then, a few comments about Ukraine.
People tend to associate environmental, social and governance investing with stock-picking, a way to sort through companies based on their ESG practices. But not every investor can be choosy about the companies they own. Big pension, endowment and sovereign wealth funds oversee tens of billions and even trillions of dollars, which means they have to own practically everything.
Here’s how to customize your calendaring system so that you weed out unqualified prospects and spend your time talking to qualified ones.
An estimated 30,000 people attended this week’s Bitcoin 2022 conference in Miami, which is rapidly becoming a major global crypto-finance hub.
As a solar panel was raised onto the roof of their mud-brick home in a Tanzanian village in sight of Mount Kilimanjaro, Akida Saidi and his wife felt giddy at the prospect of entering a new era. In a place where most residents make do with pit latrines instead of toilets and till their fields of maize and pigeon peas with hoes, suddenly having electricity would catapult them into the 21st century.
The Bluetooth logo is a bind rune merging the Younger Futhark runes(Hagall) (ᚼ) and (Bjarkan) (ᛒ), Harald’s initials.
Watch replays for CE credit. We recap the webinars presented at our Market Outlook Summit.
Retirement income planning is the key to your future success. Winning the confidence of "Boomer" women investors is the key to your future success. Shifting how you think about annuities is the key to your future success. Wait! Which one is the key to my future success? The answer is, they all are!
Recently one of our best advisors gave notice. He said we don’t “value youth.”
While putting together a marketing plan is more complex than reading an article, here are three important pieces of advice to get female solo practitioners started.
Here are the nine steps you need to take when entering a new niche market.
The U.S. Commerce Department announced on Thursday that consumer spending fell 0.4% in February from January after adjusting for inflation. This may not seem like much, but real spending has dropped in three of the last four months. Without strength in household outlays, the economic expansion is doomed.
For more than a quarter century, the U.S. government has been sending an unmistakable message to poor, single mothers: Get married. If America genuinely wants to address poverty and achieve gender equality, this has to change.
The yield curve is really just a symptom. I like to compare it to a fever—not serious in itself, but a sign you have an infection or some other ailment. An inverted yield curve means something is wrong in our economic body. So today we’ll consider what it means.
As clients clamor to invest in Environmental, Social, Governance, or ESG funds, advisors need to separate the truth from the tsunami of “greenwashing” that has clouded this rapidly-growing investment segment.
The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans, many of whom have nothing banked for after they stop working.
It may be inconceivable to the moneyed class, but there are in fact very good reasons not to raise interest rates quickly or dramatically. Yes, inflation is worryingly high, Ukraine is burning and Covid-19 still threatens to upend supply chains. However, the reality many Americans face — if not low-income and middle-class workers across the globe — is quite different from what the stock market and go-to suite of economic indicators tell us.
After spending many years in the planning profession, I’ve found that advisors place superfluous importance on speaking intelligently and comprehensively.
Buyout activity is picking up pace in Europe, but a number of banks are taking a cautious approach to new risk, looking for higher pricing, more flex protection and in some instances fuller fees on junk-rated debt underwrites against a backdrop of heightened volatility, inflation and rising rates.
America is facing a retirement crisis. Most experts agree that a significant portion of the population will lack the resources to live comfortably after they stop working. This, in turn, will place an increasing burden on the country’s social safety net.
Does being busy equate with being productive?
Here are five winning tactics to leverage immediately for more online introductions.
The world has never seen sanctions like this. But ironically, those sanctions may give Putin even more power.
We describe how an intentional and sustainable vision for diversity and inclusion at Wealthspire took form.
ICYMI: In this roundup, we’re highlighting the five most popular pieces of content from the previous week.
Head of the Franklin Templeton Investment Institute, Stephen Dover, recently hosted a sustainable investing roundtable.
An important part of tax planning is medical expenses, which add up quickly. Your clients (including spouses and dependents) will have medical expenses throughout the year, and hanging onto those receipts could save them money this year.
What happens when you combine the tipping point of two deflationary forces—globalization and demographics—with a pandemic, epic supply-chain disruptions and an invasion in Europe? Inflation of a magnitude not seen since the 1970s. Some of the contributing factors may be transitory, but not all, and lingering inflation is likely to be higher than before. How should bond investors adapt?
This year's theme is #BreakTheBias and I thought it might be fitting to look at a few of the common biases when it comes to female investors - and how financial advisers can work toward better addressing some of these, not only with clients, but with their teams as well.
Many people experience setbacks or life circumstances that result in temporarily relying on others for financial help. Being financially dependent in the longer term, however, is a financial disorder.
Racial equity is imperative to ensure change in a world that is becoming more diverse. We all can lead with kindness and empathy when it comes to learning about the differences of others. We can’t continue to have conversations about racial equity that are not followed by actions that do more than level the playing field. C-suite executives are adding more DEI professionals to their leadership teams to drive internal changes. Organizations are promising upward mobility for Black and brown people. But they still do not see much representation. My guest today is Dana Wilson, and her goal is to enhance the visibility of financial professionals of color and break down barriers for Black and brown consumers around the country who have established wealth for their families or are looking to build it.
This year, the theme for International Women's Day is #BreakTheBias. This theme celebrates the achievements that women have made, takes action for equality, and raises awareness against bias. What better way to honor the holiday than to examine how women are breaking down barriers in the financial services industry?
Bill Hench is head of the small-cap team at First Eagle Investments and portfolio manager of its small-cap strategy. The First Eagle Small Cap Opportunity Fund (FESCX) was established April 27, 2021.
Advisors who reject bucketing strategies because they won’t invest as many as five years of assets in low-yielding securities are exposing clients to risks that threaten their standard of living in retirement.
Governments that had propped up Covid-ravaged economies by issuing social bonds are now turning their attention to longer-term climate goals, while companies are keen for increased flexibility when spending proceeds from sales of environmental, social and governance (ESG) debt. That’s crimping the flow of social notes that typically fund specific projects such as job creation or affordable housing.
Starting May 15, New York City will require every job posting to be accompanied by a minimum and maximum salary for the position. Colorado, Nevada, Connecticut, California, Washington and Maryland already have laws requiring some salary-range disclosure; Rhode Island will join them at the start of next year. Similar laws are under consideration in Massachusetts and South Carolina.
There is no greater threat to your financial wellbeing than divorce. Unless you are very wealthy or extremely poor, both former spouses will see a decline in their lifestyle
For an ambitious, career-ladder climber, what sort of person makes the best mate? The human heart is not known for being coldly calculating, but pretend, for a moment, that it could be. What personality traits should be preferred?
Over the past decade, interest in environmental, social, and governance (ESG) investing has grown dramatically.
I have charged Ken Fisher with crimes against annuities. I will begin this proceeding by expressing my gratitude for his anti-annuity advertising campaign including its famous tagline, “I hate annuities and you should too!”
A recent study by Hartford Funds revealed that more than half of respondents believe that men and women have different financial needs. But only 24% said they want to work with a financial professional who caters to the needs of their gender. It is clear that investors simply want to be treated as individuals. To provide sound financial advice, it’s imperative that advisors avoid making generalizations based on age or gender. Instead, they must help clients plan for life’s circumstances by asking thoughtful questions. My guest today will explain why this enhanced focus on lifestyle goals and personalization will be the key to attracting the next generation of clients.
I believe Fed officials are largely responsible for the cycles of bubbles, booms, and busts over the last 30 years. Further, they share some of the blame (clearly not all) for the growing divisions and tribalism in our society. Much of it springs from the wealth disparity they aided and abetted.
Not since the late 2000s, when lavish bonuses rained down before and after federal bailouts, have pay packages at U.S. investment banks swelled as much as they have right now.
How would you answer this question, “What makes you different and unique from everyone else who does what you do?”
The decade-long bull market has infected advisors and their clients – especially those in or nearing retirement – with a dose of complacency that hides the perilous outcomes most consider impossible.
Insights into the economy can be found in surprising places. In a brothel, for instance, how services are priced and who ends up working there can reveal a lot about the state of the business cycle. It also reflects structural changes in our economy and society.
In my work with female clients in transition, some of the most difficult conversations are with those whose lives have been upended by the death of their spouses.
Laurence Kotlikoff is a world-class economist who can convince you to pay off your mortgage and make you snort out your nose laughing at the same time; Money Magic is his compendium of life hacks aimed at leaving the reader wealthier and happier.
All 2-sigma equity bubbles in developed countries have broken back to trend.
If a recently widowed client hasn’t fired you, then you are among a lucky few. Here’s a thought experiment that illustrates the vulnerability advisors face when they don’t engage the female half of a couple.
There are three pillars of investing for us at Smead Capital Management.
Many of us fantasize about quitting our jobs. In 2021, more people than ever turned that dream into reality. The latest U.S. Bureau of Labor Statistics data show that 4.53 million Americans voluntarily left their jobs last November. This was both a new monthly record and the eighth successive reading above the pre-pandemic high.
In an economy where the Fed has lost every systematic tether to common sense, empirical evidence, and concern for financial stability, it’s worth beginning this first market comment of 2022 by recalling the ways we’ve adapted in order to navigate that environment.
The surge in U.S. retirements during the Covid-19 pandemic was led by older White women without a college education, according to research by the St. Louis Federal Reserve.
By expanding its use of reverse repurchase agreements to nearly $1.6 trillion, the Fed has kept money market funds solvent and prevented a systemic failure.
Divorce
A New “Pink Tide” in Latin America?
Latin America tilted further left this week as Colombian voters elected Gustavo Petro as president. Come August, the former Bogotá mayor and member of the M-19 guerrilla organization will join the region’s growing list of leftist leaders in a political shift some are likening to the “pink tide” of the late 1990s and early 2000s.
The Future of Female Financial Empowerment is Today
While everyone’s financial journey is different, there are actionable steps advisors can take to empower their female clients’ financial futures and health.
The Emperor of All Risks
Because the consequences of leaving longevity unmanaged are likely to be the most devastating, advisors must act now to address it.
Single Parents Deserve a Hall of Fame
There is no Hall of Fame for single parents. There should be. The challenges of being a single parent are monumental.
Elizabeth Holmes’ Lesson for Target-Date Funds
In 2003, at age 19, Elizabeth Holmes founded Theranos, and it became a $10 billion company by 2014. But it was a fraud. Aspects of target date funds mirror the Holmes story.
Why Your Financial Planner Needs a Financial Planner
I would be very concerned if my financial planner didn’t have their own planner. Research shows that financial planning results in increased emotional and financial wellbeing, even for clients who are planners themselves. Use our Premium membership to add your logo to this article and send it to your clients and prospects.
The Fed Has No Choice But to Let This Tantrum Rip
With the Federal Open Markets Committee due to meet Wednesday, there was no way policy makers could guide the market on how last week’s awful inflation data for May had changed their plans.
Coping with Finances While Coping with Grief
I’ve supported many clients through times of loss and transition such as divorces, deaths of parents or spouses, business failures, and natural disasters. Following are some of the things I’ve learned.
Soros’s Money Manager Warns Recession ‘Inevitable’ But Market Timing Is Off
Despite the massive selloff in equities this year and persistently high inflation, Dawn Fitzpatrick isn’t worried about a recession in the immediate future.
Relationship Marketing: Scaling the “Know, Like, Trust” Factor
How can you put the “know, like, trust” element of relationship marketing to work for your business at scale?
Are You Selling a Verb or a Noun?
Meet a woman driven to change investment regulation and understand why it’s important that she succeeds.
How to Handle the DOL’s New IRA Rollover Rule
How are advisors coping with the new Department of Labor (DOL) rollover rules? Here are a dozen observations.
Leadership and Character on Memorial Day
Memorial Day deserves the great recognition it gets. Remembering the service of those who died for our country is a civic duty. This includes remembering, doing and acting in a manner that there is no doubt the character of military and finance leaders must be first.
Inflation Forces Desperate Leaders to Try and Soften the Blow
The price of foods, fuels and other essential items are spiraling ever upward as Russia’s war on Ukraine compounds supply-chain woes stemming from the pandemic. Central banks may be in the driving seat when it comes to tackling inflation, but it’s governments that face the fallout and so are compelled to act.
The 1970s Had a Big Bright Side, Too
The parallels between the 2020s and the 1970s grow more numerous by the day. The economy faces the threat of stagflation. Fuel prices are surging, and shortages loom. Politicians are flailing. The international environment is deteriorating. The Supreme Court is revisiting the 1973 Roe v. Wade ruling.
Don’t Believe in the “Safe Withdrawal Rate”
A fatal shortcoming lies beneath the academic papers that have relied upon “back-testing” to promote the 4% rule. Use our Premium membership service to add your logo and send this to clients.
Raghuram Rajan: Inflation, Higher Rates and Slower Growth to Come
Plan for long-term Inflation that will be fought aggressively by the Fed, higher policy rates, and slower economic growth, according to Raghuram Rajan.
Demographic Trends for the 50-and-Older Work Force
Note: This commentary has been updated with the latest numbers from the latest Employment Report for April. 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.
How the Financial Industry Can Help Stop Modern Slavery
Modern slavery is a lucrative business that can’t exist without the financial system.
The Urgent Changes to Improve Your RIA Website
Unless RIAs modify their communications strategies, the failure to address the need for retirement income communications will be felt for years.
How to Prevent Office Gossip
We have a woman on our team who seems to enjoy stirring things up.
Spring Clean Your Business Plan
From organizing your closet to deep cleaning your kitchen, we're sure there's plenty for you to do. But we've got one more item to add to your list – spring clean your business plan.
Is a Rejection of Classical Finance Justified?
In an ambitious new book, the economist Andrew Smithers rejects core “Newtonian” principles of economics, replacing them with radical departures from conventional wisdom. But as I will explain, some of Smithers’ theories fail meet the standard of empirical verification.
The Income Annuity is the Constrained Investor’s Life Jacket
Imagine that you have joined some friends for a day of fishing. About two miles offshore, you sense that something is wrong. The small, single engine boat’s handling has changed. There seems to be more. Use our premium service to add your company’s logo and send this to clients.
Should Advisors Have More Than One Niche?
Firms often consider launching multiple niches rather than focusing on just one. Though sometimes successful, this approach can dissipate your marketing efforts. This article offers guidelines to determine whether having multiple niches is for you.
Are Advisors Ignoring Mergers?
Many advisors would greatly benefit from scale yet are hamstrung by the very temperament that led to their success in the first place.
Five Ways to Create Urgency and Win Planning Business
Here are five ways to win new business and clients for life by creating urgency, so your prospects want to create a financial plan now with you.
Colombia at Risk of Electing Its First Socialist President
On May 29, Colombia could elect its very first leftist president should Gustavo Petro receive a majority of the vote. The former congressman and mayor of the capital city of Bogotá, Petro is an unabashed admirer of and Hugo Chávez.
Into the Fire
If you haven’t noticed—perhaps because you live on Mars—inflation is here. Not just in the US but almost everywhere. Prices for everyday goods and services, including necessities like food, are climbing rapidly. The US Consumer Price Index rose 8.5% in the 12 months through March… and we know it understates categories like housing.
Fed Risks Shattering Pro-Jobs Policy by Taking Hammer to Prices
Jerome Powell wants to quell inflation without sinking the labor market. Success or failure will be a defining part of the Federal Reserve chair’s legacy and the pro-employment policy he’s championed.
How to Think About Annuities
Depending upon the annuity that is being recommended and its purpose, your discovery process should include these questions. This article is written for clients and can be forwarded to them using our Premium Membership Service.
IRMAA – Who is She and How to Deal with Her
We’ll tackle IRMAA in this article. I’ll provide you with information to teach you how you might be able to get rid of IRMAA.
Why RIAs Are Going to Lose in Retirement-Income Planning
Does the scenario below sound likely? If so, you are among the thousands of RIAs who are likely to lose significant assets over the next decade.
How to Plan Retirement Income for a Constrained Investor
In this article, I will explain how to structure an income strategy that best serves the needs of constrained investors. Demographic, economic, cultural, and social forces argue for a new approach to retirement planning.
2025: The Post-Ken Fisher World of Annuities
RIAs must align their communications, planning methodologies, and product set with the needs of retirees, especially women, whose chief priority is reliability of income more than return on investment.
More on the Yield Curve and Helping Ukraine
It’s Easter weekend, so we are going to revisit a 2018 letter about the yield curve. The yield curve is much misunderstood and misused by many analysts. This letter will give you the tools to understand the correct importance and relevance of the yield curve. And then, a few comments about Ukraine.
Institutional Investors Are Flexing Their ESG Muscles
People tend to associate environmental, social and governance investing with stock-picking, a way to sort through companies based on their ESG practices. But not every investor can be choosy about the companies they own. Big pension, endowment and sovereign wealth funds oversee tens of billions and even trillions of dollars, which means they have to own practically everything.
Use Your Calendaring System to Qualify Prospects
Here’s how to customize your calendaring system so that you weed out unqualified prospects and spend your time talking to qualified ones.
Bitcoin 2022: We’re Still So Early
An estimated 30,000 people attended this week’s Bitcoin 2022 conference in Miami, which is rapidly becoming a major global crypto-finance hub.
Tesla-Backed Startup Made Cheap Power a Debt Burden for the World’s Poorest
As a solar panel was raised onto the roof of their mud-brick home in a Tanzanian village in sight of Mount Kilimanjaro, Akida Saidi and his wife felt giddy at the prospect of entering a new era. In a place where most residents make do with pit latrines instead of toilets and till their fields of maize and pigeon peas with hoes, suddenly having electricity would catapult them into the 21st century.
NewsLetter - Vol 15, No. 1 - March 2022
The Bluetooth logo is a bind rune merging the Younger Futhark runes(Hagall) (ᚼ) and (Bjarkan) (ᛒ), Harald’s initials.
Highlights From Our Market Outlook Summit
Watch replays for CE credit. We recap the webinars presented at our Market Outlook Summit.
Demographics, Gender and Wealth: Profiting from The Retirement Income Revolution
Dealing with Bias Against Youth and Gender
Recently one of our best advisors gave notice. He said we don’t “value youth.”
Marketing for Female Solo Practitioners
While putting together a marketing plan is more complex than reading an article, here are three important pieces of advice to get female solo practitioners started.
Nine Steps to Launch a New Niche
Here are the nine steps you need to take when entering a new niche market.
U.S. Economy Is Doomed Without Stronger Consumer Spending
The U.S. Commerce Department announced on Thursday that consumer spending fell 0.4% in February from January after adjusting for inflation. This may not seem like much, but real spending has dropped in three of the last four months. Without strength in household outlays, the economic expansion is doomed.
Poor Single Mothers Need Money, Not Husbands
For more than a quarter century, the U.S. government has been sending an unmistakable message to poor, single mothers: Get married. If America genuinely wants to address poverty and achieve gender equality, this has to change.
Curve Ball
The yield curve is really just a symptom. I like to compare it to a fever—not serious in itself, but a sign you have an infection or some other ailment. An inverted yield curve means something is wrong in our economic body. So today we’ll consider what it means.
Greenwashing Amongst ESG: Finding True ESG Value
As clients clamor to invest in Environmental, Social, Governance, or ESG funds, advisors need to separate the truth from the tsunami of “greenwashing” that has clouded this rapidly-growing investment segment.
House Votes to Expand Tax Benefits for Retirement Savings
The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans, many of whom have nothing banked for after they stop working.
The Case Against Rate Hikes for Millennials
It may be inconceivable to the moneyed class, but there are in fact very good reasons not to raise interest rates quickly or dramatically. Yes, inflation is worryingly high, Ukraine is burning and Covid-19 still threatens to upend supply chains. However, the reality many Americans face — if not low-income and middle-class workers across the globe — is quite different from what the stock market and go-to suite of economic indicators tell us.
Best Way to Persuade – Be Fluent in Real-People Language
After spending many years in the planning profession, I’ve found that advisors place superfluous importance on speaking intelligently and comprehensively.
Banks Demand More Protection on New Risk Amid Volatility
Buyout activity is picking up pace in Europe, but a number of banks are taking a cautious approach to new risk, looking for higher pricing, more flex protection and in some instances fuller fees on junk-rated debt underwrites against a backdrop of heightened volatility, inflation and rising rates.
America’s Retirement Crisis Is a Financial Crisis Too
America is facing a retirement crisis. Most experts agree that a significant portion of the population will lack the resources to live comfortably after they stop working. This, in turn, will place an increasing burden on the country’s social safety net.
The Downside to Being Busy
Does being busy equate with being productive?
Five Ways to Get More Referrals Online
Here are five winning tactics to leverage immediately for more online introductions.
War in Ukraine: Part 3 – The Future of Russia
The world has never seen sanctions like this. But ironically, those sanctions may give Putin even more power.
Starting a Diversity Journey: The Wealthspire Story
We describe how an intentional and sustainable vision for diversity and inclusion at Wealthspire took form.
Wednesday's Weekly Perspective: March 16, 2022
ICYMI: In this roundup, we’re highlighting the five most popular pieces of content from the previous week.
Quick Thoughts: Staying Ahead of Environmental, Social and Governance (ESG) Risks and Opportunities
Head of the Franklin Templeton Investment Institute, Stephen Dover, recently hosted a sustainable investing roundtable.
Helping Clients Reduce Tax with Medical Deductions
An important part of tax planning is medical expenses, which add up quickly. Your clients (including spouses and dependents) will have medical expenses throughout the year, and hanging onto those receipts could save them money this year.
Inflation TIPS for Fixed-Income Investors
What happens when you combine the tipping point of two deflationary forces—globalization and demographics—with a pandemic, epic supply-chain disruptions and an invasion in Europe? Inflation of a magnitude not seen since the 1970s. Some of the contributing factors may be transitory, but not all, and lingering inflation is likely to be higher than before. How should bond investors adapt?
Women Investors: 3 Things to Know
This year's theme is #BreakTheBias and I thought it might be fitting to look at a few of the common biases when it comes to female investors - and how financial advisers can work toward better addressing some of these, not only with clients, but with their teams as well.
Financial Dependency: Relying on Others for Money
Many people experience setbacks or life circumstances that result in temporarily relying on others for financial help. Being financially dependent in the longer term, however, is a financial disorder.
Achieving Diversity through Empathy and Authenticity
Racial equity is imperative to ensure change in a world that is becoming more diverse. We all can lead with kindness and empathy when it comes to learning about the differences of others. We can’t continue to have conversations about racial equity that are not followed by actions that do more than level the playing field. C-suite executives are adding more DEI professionals to their leadership teams to drive internal changes. Organizations are promising upward mobility for Black and brown people. But they still do not see much representation. My guest today is Dana Wilson, and her goal is to enhance the visibility of financial professionals of color and break down barriers for Black and brown consumers around the country who have established wealth for their families or are looking to build it.
Female Financial Advisors: Breaking Biases and Barriers
This year, the theme for International Women's Day is #BreakTheBias. This theme celebrates the achievements that women have made, takes action for equality, and raises awareness against bias. What better way to honor the holiday than to examine how women are breaking down barriers in the financial services industry?
The Opportunity in Small-Cap Value
Bill Hench is head of the small-cap team at First Eagle Investments and portfolio manager of its small-cap strategy. The First Eagle Small Cap Opportunity Fund (FESCX) was established April 27, 2021.
Why Critics of Bucketing Strategies are Wrong
Advisors who reject bucketing strategies because they won’t invest as many as five years of assets in low-yielding securities are exposing clients to risks that threaten their standard of living in retirement.
‘S’ in ESG Debt Proves Too Complex for Issuers Seeking Easy Wins
Governments that had propped up Covid-ravaged economies by issuing social bonds are now turning their attention to longer-term climate goals, while companies are keen for increased flexibility when spending proceeds from sales of environmental, social and governance (ESG) debt. That’s crimping the flow of social notes that typically fund specific projects such as job creation or affordable housing.
Salary Transparency Is Good for Everybody
Starting May 15, New York City will require every job posting to be accompanied by a minimum and maximum salary for the position. Colorado, Nevada, Connecticut, California, Washington and Maryland already have laws requiring some salary-range disclosure; Rhode Island will join them at the start of next year. Similar laws are under consideration in Massachusetts and South Carolina.
“So Daddy Pays You?” Divorce, Money, and Emotions
There is no greater threat to your financial wellbeing than divorce. Unless you are very wealthy or extremely poor, both former spouses will see a decline in their lifestyle
How to Choose an Ideal Husband or Wife (for Your Career)
For an ambitious, career-ladder climber, what sort of person makes the best mate? The human heart is not known for being coldly calculating, but pretend, for a moment, that it could be. What personality traits should be preferred?
ESG Demand in the Early Stages
Over the past decade, interest in environmental, social, and governance (ESG) investing has grown dramatically.
The Trial of Ken Fisher for Crimes Against Annuities
I have charged Ken Fisher with crimes against annuities. I will begin this proceeding by expressing my gratitude for his anti-annuity advertising campaign including its famous tagline, “I hate annuities and you should too!”
The Role of Gender in Delivering Financial Advice
A recent study by Hartford Funds revealed that more than half of respondents believe that men and women have different financial needs. But only 24% said they want to work with a financial professional who caters to the needs of their gender. It is clear that investors simply want to be treated as individuals. To provide sound financial advice, it’s imperative that advisors avoid making generalizations based on age or gender. Instead, they must help clients plan for life’s circumstances by asking thoughtful questions. My guest today will explain why this enhanced focus on lifestyle goals and personalization will be the key to attracting the next generation of clients.
Time to Rethink the Fed
I believe Fed officials are largely responsible for the cycles of bubbles, booms, and busts over the last 30 years. Further, they share some of the blame (clearly not all) for the growing divisions and tribalism in our society. Much of it springs from the wealth disparity they aided and abetted.
Bonuses Rain on Wall Street Bankers in Biggest Payout in Decade
Not since the late 2000s, when lavish bonuses rained down before and after federal bailouts, have pay packages at U.S. investment banks swelled as much as they have right now.
The Decision that Will Make You an Expert
How would you answer this question, “What makes you different and unique from everyone else who does what you do?”
The “Impossible” Scenario that Threatens Retirees
The decade-long bull market has infected advisors and their clients – especially those in or nearing retirement – with a dose of complacency that hides the perilous outcomes most consider impossible.
Men Are Getting Left Behind in the Jobs Boom
Insights into the economy can be found in surprising places. In a brothel, for instance, how services are priced and who ends up working there can reveal a lot about the state of the business cycle. It also reflects structural changes in our economy and society.
Advising Young Widows: It’s Not Just About the Money
In my work with female clients in transition, some of the most difficult conversations are with those whose lives have been upended by the death of their spouses.
An Economist Looks at School, Marriage, Divorce, and Moving in with Your Mom
Laurence Kotlikoff is a world-class economist who can convince you to pay off your mortgage and make you snort out your nose laughing at the same time; Money Magic is his compendium of life hacks aimed at leaving the reader wealthier and happier.
Let The Wild Rumpus Begin
All 2-sigma equity bubbles in developed countries have broken back to trend.
Man, You've Got This! Or Maybe Not
If a recently widowed client hasn’t fired you, then you are among a lucky few. Here’s a thought experiment that illustrates the vulnerability advisors face when they don’t engage the female half of a couple.
Outlook 2022: Polar Opposites
There are three pillars of investing for us at Smead Capital Management.
Can You Afford to Join the Great Resignation?
Many of us fantasize about quitting our jobs. In 2021, more people than ever turned that dream into reality. The latest U.S. Bureau of Labor Statistics data show that 4.53 million Americans voluntarily left their jobs last November. This was both a new monthly record and the eighth successive reading above the pre-pandemic high.
Return-Free Risk
In an economy where the Fed has lost every systematic tether to common sense, empirical evidence, and concern for financial stability, it’s worth beginning this first market comment of 2022 by recalling the ways we’ve adapted in order to navigate that environment.
‘Great Retirement’ in U.S. Is Driven by Older Female Baby Boomers
The surge in U.S. retirements during the Covid-19 pandemic was led by older White women without a college education, according to research by the St. Louis Federal Reserve.
How the Fed is Saving Money Market Funds
By expanding its use of reverse repurchase agreements to nearly $1.6 trillion, the Fed has kept money market funds solvent and prevented a systemic failure.