Brian Smedley, Guggenheim’s Chief Economist and Head of Macroeconomic and Investment Research, discusses the impact of the Fed’s 0.75% rate hike on markets and the economy.
This morning's seasonally adjusted 229K new claims, down 2K from the previous week's revised figure, was above the Investing.com forecast of 227K.
Reg BI turns two on June 30th. It was supposed to help investors better understand how advisors and brokers differ and have BDs meet a “best interest” standard based on fiduciary principles. It turns out that Reg BI is doing the opposite.
Because the consequences of leaving longevity unmanaged are likely to be the most devastating, advisors must act now to address it.
I have identified a few opportunities within my portfolio and wealth management practice that prompt consideration for your own strategies as you plan for large estates.
Several avenues for diversifying cryptocurrency portfolios exist. Investors should weigh the costs and benefits of each of the following three methods.
This article is relevant to financial professionals who are considering offering model portfolios to their clients.
Let's take a closer look at last week's employment report numbers on Full and Part-Time Employment.
Many advisors have potential clients who slip through their fingers because they believe their goal is to build a relationship pre-sale. But that’s not your potential clients’ goal.
Even in 2022, pensions still command an aura of reverence. A benefit where you work for one company for 30 years and then retire with a livable wage? And you don’t have to fret about picking investments? What’s not to like?
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.
The Franklin Templeton Institute hosted the Global Investor Forum last week in New York featuring internal and external speakers with expertise across economics, history, foreign policy, sustainability and investment management.
Cryptocurrencies are the exact opposite of a prudent investment: They’re volatile, have little practical use beyond speculation and crime, often get lost or stolen, and lack the real-world cash flows that underpin the values of stocks and bonds.
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 outlook for credit amid rising inflation, monetary tightening, and war in Europe.
RIAs can be paid to service trails-paying annuities without a broker-dealer.
The following is a hypothetical and fictional account of how big tech can disrupt the wealth management industry. A back-to-client focus is discussed. reminiscent of how Apple’s Mac OS empowered users and supplanted predecessor operating systems.
“I have been poor, and I have been rich. Believe me, being rich is better for the soul.”
The risks of tightening into a downturn.
Whenever I surf television cable news channels, I see the plethora of ads for financial planning. But they are run by companies that sell financial products or are owned by huge insurance companies.
The U.S. debt cannot be paid, even in inflated dollars. Serious inflation is inevitable that will crash stock and bond markets, in addition to devaluing the dollar.
Tax Day has come and gone.
I don’t care how many PhDs are going to argue against me; direct indexing is Wall Street’s attempt at squeezing more fees out of the America public using advisors as the pawns.
The SEC staff thinks that fiduciary care is irrelevant. It has no more value to consumers investing retirement funds than it does when they buy clothes.
Regular readers of WisdomTree blogs know that we are firm believers in both asset class and risk factor diversification when building our Model Portfolios.
Environmental, social and governance (ESG) ratings are a popular way to search for companies that meet specific criteria in a responsible investing agenda.
Big Tech founders like Mark Zuckerberg and Alphabet Inc.’s Sergey Brin and Larry Page have fashioned themselves as modern-day autocrats of business, thanks to the way they have structured their initial public offerings and voting shares over the past decade.
Many advisors would greatly benefit from scale yet are hamstrung by the very temperament that led to their success in the first place.
This is a hard time to retire. The market is down 7% from last year and the rate of inflation has risen to 8.5%. Both are brutal to your bottom line when you're on a fixed income. But buck up! As bad as things seem, odds are you are in better shape than your parents or grandparents. And if they got through retirement comfortably, so will you.
The surging popularity of direct indexing has led to confusion. Some believe it is barely indistinguishable from indexed investing, while others claim it is active management “in drag.”
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.
You have to feel sorry for active managers.
The SEC staff has issued a statement saying to investment advisers that their fiduciary status is “extraneous.”
It's no secret that in fixed income markets, excess performance above the benchmark is difficult to achieve over the long run.
The academic evidence shows that selecting investments, such as mutual funds or stocks, based on past performance is a terrible idea. Use our premium membership service to forward this article to clients with your logo.
The Bluetooth logo is a bind rune merging the Younger Futhark runes(Hagall) (ᚼ) and (Bjarkan) (ᛒ), Harald’s initials.
Reflecting on the history of our family office, our investing philosophy mirrors how previous generations built their wealth through farming. They patiently waited to harvest the crops they planted; we buy securities and patiently wait for them to appreciate.
This article provides an overview of the benefits of using a Nevada Incomplete Non-Grantor Trust (NING) as part of a business sale to reduce or eliminate state income taxes and capital gains taxes.
I’ll take an order of flat fees (otherwise known as retainers) with a side of financial planning. Customers are lining up out the door for this.
DeFi is creating a new financial system that doesn’t rely on traditional intermediaries like banks or insurance brokers, providing more freedom and creativity.
The pandemic hastens the evolution of the DC plan landscape and challenges plan sponsors to evolve.
As a financial advisor looking to jump to independence as an RIA, you have two doors from which to choose.
Corruption is “a cancer that eats away at a citizen’s faith in democracy,” said a certain vice president, back in 2014. Now commander in chief, Joe Biden must confront a corruption problem unfolding on his watch: the spiraling costs of misspent Covid funds.
On March 1, two unrelated Securities & Exchange Commission actions set out the state of its thinking on enforcing the “best interest” and “fiduciary” standards.
This article outlines the necessary requirements to establish a Nevada family trust company and examines the core features and benefits it offers clients.
New data on consumer preferences and behaviors during COVID shows that the advisory firms face daunting challenges with respect to staffing, differentiation and – if they are private-equity backed – financing and maintaining profitability.
The 60/40 stock/bond allocation is ubiquitous, but that’s stupid because it’s just not right for everyone, especially baby boomers.
We recently hosted a special edition of our “What Our Managers Think” panel discussion to address the current situation in Ukraine.
Advisors need to understand how crypto markets work and how to make crypto part of a balanced portfolio to take advantage of this opportunity.
Interest-only variable annuity policies have zero commissions, no surrender charges and low annual M&E and admin fees plus various subaccounts that span traditional and alternative investment strategies.
The Rest of the Story was a radio show that aired from 1942-2008. Host Paul Harvey revealed little known facts that were previously not reported. The rest of the Federal Reserve story is that it is just pretending to be in control, and the rest of the Russian invasion story is about China and the U.S. dollar.
This article, which is written for clients, explains that direct indexing portfolios are broadly diversified with individual stocks that are personalized to meet the needs, values, and preferences of an investor.
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.
Here’s rough justice: FINRA’s February 9 disgraceful report on broker-dealer breaches of Reg BI came out just as the Winter Olympics was tarnished by the politics of the IOC.
Jasmin and Ryan recently exchanged ideas about trading apps and new software that can help educate investors about key investment principles.
Which is riskier, bitcoin or Tesla? Here is the analytical framework I created to answer that question.
Near-zero, zero, and below-zero interest rates changed the incentive calculations and decisions from what they were a mere 30 years ago. You can’t look at policies or almost anything else prior to the early 2000s as a standard for today. The incentives of low interest rates have literally screwed (that’s a technical economic term) things up.
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!”
This article can be forwarded to clients to help them understand inflation, its causes, and how various investment strategies protect against it.
How would you answer this question, “What makes you different and unique from everyone else who does what you do?”
They might ease our fears or satisfy an inner need, but predictions about the markets or the economy are useless to our clients.
Interest rate manipulation has been achieved through massive money printing that is causing inflation. To control inflation, bond manipulation must stop. When the manipulation ends, bond prices will plummet, and stock prices will follow.
Large asset managers provide model portfolios for many purposes — as options in 401(k) plans, as blueprints for institutional clients and affiliated financial advisors, and as suggestions for unaffiliated investment advisors. These have the “lather, rinse, repeat” conflict of interest.
In 2012, an SEC director declared that conflicts kill objective investment advice. But this is no longer true, according to new guidance from the CFP Board.
A booming $4.9 trillion branch of the U.S. asset management industry is funneling investor cash into funds that are pricier and worse-performing than alternatives, new research claims.
Last year was a good year for stocks, but not bonds. The post-2008 recovery has been spectacular, one of the best 13-year U.S. stock markets. I provide details for the entire 96 years as well as five-year and 10-year sub-periods
The new year could bring a new you. Despite what the poets say, money, or at least financial security, can be one of the most important steps toward happiness. On the other hand, money mismanagement and debt can result in financial anxiety, which can cloud decision making and lead to a bad cycle.
Finding the right professional to manage your finances is challenging. Financial professionals have many different titles, certifications and qualifications, but which type is right for you?
Soon – within the next two years – the SEC will wake up and start holding financial advisors who use TAMPs to the same fiduciary standards they hold them to in selecting mutual funds, ETFs, and other investment products. When it does, many advisors will be in trouble.
A new study, which I co-authored, proves that a withdrawal strategy utilizing a reverse mortgage reduces market risk and increases portfolio growth.
As we close out the year, I’ll provide my top five advisor observations from my work with large and small practices.
We hope you enjoy the latest newsletter from Harold Evensky.
The value for clients is higher with larger portfolios than small ones. The fees should be higher too.
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.
Advisors breach their fiduciary duty when they fail to recommend guaranteed income products.
Can an investment advisor be a stakeholder company while also discharging its fiduciary obligation to clients?
The SEC’s form CRS fails consumers. CRS, meant to inform the public about BDs and RIAs, instead confuses everyone.
During his second inaugural address, President Abraham Lincoln proclaimed that America should serve its soldiers long after they were done serving it. Coming just weeks before final victory in a gruesome civil war that killed at least 750,000, his words would become the motto for the Department of Veterans Affairs.
Depending upon the decisions advisors make in the near term, their practices will either be setup for monumental growth or inevitable decline.
Here are three reasons marketing will get harder for financial advisors next year and beyond. Yet the situation isn’t hopeless. You can adopt strategies that make your marketing easier even with the changes on the horizon.
Behind every advisor’s success story is a well-laid and executed plan, which starts with effective goal setting. Let’s see how this works in action.
The last 20 months have taught us to question everything. What is the future of work? Can American democracy survive? Will Baby Boomers keep consuming more than their fair share? And what comes after “trillion”? Howard Marks’s latest memo examines paradigm shifts that could reshape the economy, markets and the world for many years to come.
We’re all salespeople in some sense, fiduciary financial advisors included.
At Russell Investments we have created a series of podcasts aimed at helping you gain insight in how to build a better business, or attract female clients, minimize the impact of taxes on a portfolio or articulate the value you bring to your clients.
There is no shortage of vocal advisors and observers ready and willing to dive into any conversation about how you should set your fees.
This article is relevant to financial professionals who are considering offering Model Portfolios to their clients.
Last week’s off-year elections in Virginia, New Jersey, Buffalo and Minneapolis bodes big trouble for the Biden administration. But overlooked was a report from state securities administrators stating, frankly, the opposite. The “states” supported administration efforts to strengthen the regulation of broker-dealers.
Fiduciary Rules
Macro Markets Podcast Episode 16: Fed Watch: A Deep Dive into 75
Brian Smedley, Guggenheim’s Chief Economist and Head of Macroeconomic and Investment Research, discusses the impact of the Fed’s 0.75% rate hike on markets and the economy.
Weekly Unemployment Claims: Down 2K
This morning's seasonally adjusted 229K new claims, down 2K from the previous week's revised figure, was above the Investing.com forecast of 227K.
Reg BI’s Unhappy Second Birthday
Reg BI turns two on June 30th. It was supposed to help investors better understand how advisors and brokers differ and have BDs meet a “best interest” standard based on fiduciary principles. It turns out that Reg BI is doing the opposite.
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.
Opportunities in Tax Efficiency
I have identified a few opportunities within my portfolio and wealth management practice that prompt consideration for your own strategies as you plan for large estates.
How to Build a Diversified Crypto Allocation
Several avenues for diversifying cryptocurrency portfolios exist. Investors should weigh the costs and benefits of each of the following three methods.
The Current and Future State of Model Portfolios
This article is relevant to financial professionals who are considering offering model portfolios to their clients.
Full-time and Part-time Employment: A Deeper Look
Let's take a closer look at last week's employment report numbers on Full and Part-Time Employment.
Why the “Hard Sell” is Obsolete
Many advisors have potential clients who slip through their fingers because they believe their goal is to build a relationship pre-sale. But that’s not your potential clients’ goal.
Today’s Pensions Just Don’t Favor Millennials and Gen Z
Even in 2022, pensions still command an aura of reverence. A benefit where you work for one company for 30 years and then retire with a livable wage? And you don’t have to fret about picking investments? What’s not to like?
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.
Quick Thoughts: Global Investor Forum 2022
The Franklin Templeton Institute hosted the Global Investor Forum last week in New York featuring internal and external speakers with expertise across economics, history, foreign policy, sustainability and investment management.
Crypto in Retirement Accounts? Are You Kidding?
Cryptocurrencies are the exact opposite of a prudent investment: They’re volatile, have little practical use beyond speculation and crime, often get lost or stolen, and lack the real-world cash flows that underpin the values of stocks and bonds.
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.
Despite the Gray Mood, Skies Are Only Partly Cloudy
The outlook for credit amid rising inflation, monetary tightening, and war in Europe.
How Breakaway RIAs Can Retain Annuity Trails
RIAs can be paid to service trails-paying annuities without a broker-dealer.
”Apple” Wealth Management
The following is a hypothetical and fictional account of how big tech can disrupt the wealth management industry. A back-to-client focus is discussed. reminiscent of how Apple’s Mac OS empowered users and supplanted predecessor operating systems.
The Sophie Tucker Rule
“I have been poor, and I have been rich. Believe me, being rich is better for the soul.”
Fed Aggressiveness Following Delayed Liftoff Sets Up 2023 Collision
The risks of tightening into a downturn.
Beware of Faux Financial Planning
Whenever I surf television cable news channels, I see the plethora of ads for financial planning. But they are run by companies that sell financial products or are owned by huge insurance companies.
Our Debt Cannot Be Inflated Away
The U.S. debt cannot be paid, even in inflated dollars. Serious inflation is inevitable that will crash stock and bond markets, in addition to devaluing the dollar.
Top 10 Things Tax-Smart Advisors Do After Tax Day
Tax Day has come and gone.
19 Reasons to Run Like the Wind from Direct Indexing!
I don’t care how many PhDs are going to argue against me; direct indexing is Wall Street’s attempt at squeezing more fees out of the America public using advisors as the pawns.
The SEC’s Misguided Concept of Fiduciary
The SEC staff thinks that fiduciary care is irrelevant. It has no more value to consumers investing retirement funds than it does when they buy clothes.
The WisdomTree Q2 2022 Asset Class and Risk Factor Review and Outlook
Regular readers of WisdomTree blogs know that we are firm believers in both asset class and risk factor diversification when building our Model Portfolios.
ESG Ratings: Solution or Starting Point?
Environmental, social and governance (ESG) ratings are a popular way to search for companies that meet specific criteria in a responsible investing agenda.
Musk and Other Tech Billionaires Are Out of Control
Big Tech founders like Mark Zuckerberg and Alphabet Inc.’s Sergey Brin and Larry Page have fashioned themselves as modern-day autocrats of business, thanks to the way they have structured their initial public offerings and voting shares over the past decade.
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.
Buck Up, Boomers. You're Still Better Off Than Your Parents.
This is a hard time to retire. The market is down 7% from last year and the rate of inflation has risen to 8.5%. Both are brutal to your bottom line when you're on a fixed income. But buck up! As bad as things seem, odds are you are in better shape than your parents or grandparents. And if they got through retirement comfortably, so will you.
Is Direct Indexing Active Management “in Drag”
The surging popularity of direct indexing has led to confusion. Some believe it is barely indistinguishable from indexed investing, while others claim it is active management “in drag.”
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.
Why Is Active Management So Difficult?
You have to feel sorry for active managers.
SEC Staff to Investment Advisors: Fiduciary is “Extraneous”
The SEC staff has issued a statement saying to investment advisers that their fiduciary status is “extraneous.”
Best Practices For Fixed Income Restructures: Evaluating Four Portfolio Transition Strategies
It's no secret that in fixed income markets, excess performance above the benchmark is difficult to achieve over the long run.
Why Investing Based on Past Performance Is a Terrible Idea
The academic evidence shows that selecting investments, such as mutual funds or stocks, based on past performance is a terrible idea. Use our premium membership service to forward this article to clients with your logo.
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.
Building the Family Office Farm
Reflecting on the history of our family office, our investing philosophy mirrors how previous generations built their wealth through farming. They patiently waited to harvest the crops they planted; we buy securities and patiently wait for them to appreciate.
Using a Nevada Incomplete Grantor Trust as Part of a Business Exit Strategy
This article provides an overview of the benefits of using a Nevada Incomplete Non-Grantor Trust (NING) as part of a business sale to reduce or eliminate state income taxes and capital gains taxes.
The Price Advisors Will Pay for Ignoring Flat Fees
I’ll take an order of flat fees (otherwise known as retainers) with a side of financial planning. Customers are lining up out the door for this.
Keep Your Eye on DeFi: A Look Into The Growing Decentralized Finance Movement
DeFi is creating a new financial system that doesn’t rely on traditional intermediaries like banks or insurance brokers, providing more freedom and creativity.
The New Defined Contribution Landscape
The pandemic hastens the evolution of the DC plan landscape and challenges plan sponsors to evolve.
Deciding Whether to Build an RIA or Join One
As a financial advisor looking to jump to independence as an RIA, you have two doors from which to choose.
Where Did $6 Trillion in Covid Funding Go?
Corruption is “a cancer that eats away at a citizen’s faith in democracy,” said a certain vice president, back in 2014. Now commander in chief, Joe Biden must confront a corruption problem unfolding on his watch: the spiraling costs of misspent Covid funds.
SEC Charts New Strategy for a Best Interest Standard
On March 1, two unrelated Securities & Exchange Commission actions set out the state of its thinking on enforcing the “best interest” and “fiduciary” standards.
Family Trust Companies
This article outlines the necessary requirements to establish a Nevada family trust company and examines the core features and benefits it offers clients.
The Post-COVID Challenges Facing the Planning Profession
New data on consumer preferences and behaviors during COVID shows that the advisory firms face daunting challenges with respect to staffing, differentiation and – if they are private-equity backed – financing and maintaining profitability.
Why the 60/40 is Wrong for Baby Boomers
The 60/40 stock/bond allocation is ubiquitous, but that’s stupid because it’s just not right for everyone, especially baby boomers.
Quick Thoughts: What Russia’s Power Play in Ukraine Means for Investors
We recently hosted a special edition of our “What Our Managers Think” panel discussion to address the current situation in Ukraine.
How to Attract Crypto Investors as Clients
Advisors need to understand how crypto markets work and how to make crypto part of a balanced portfolio to take advantage of this opportunity.
Investment-Only Variable Annuity – A “Back-to-the-Future” Variable Annuity Vehicle
Interest-only variable annuity policies have zero commissions, no surrender charges and low annual M&E and admin fees plus various subaccounts that span traditional and alternative investment strategies.
What Awaits Behind the Russia and Inflation Headlines?
The Rest of the Story was a radio show that aired from 1942-2008. Host Paul Harvey revealed little known facts that were previously not reported. The rest of the Federal Reserve story is that it is just pretending to be in control, and the rest of the Russian invasion story is about China and the U.S. dollar.
Understanding Direct Indexing
This article, which is written for clients, explains that direct indexing portfolios are broadly diversified with individual stocks that are personalized to meet the needs, values, and preferences of an investor.
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.
FINRA’s “Olympic” Disgrace: Its Reg BI Report
Here’s rough justice: FINRA’s February 9 disgraceful report on broker-dealer breaches of Reg BI came out just as the Winter Olympics was tarnished by the politics of the IOC.
Can Your Digital Platform Withstand Regulator Scrutiny?
Jasmin and Ryan recently exchanged ideas about trading apps and new software that can help educate investors about key investment principles.
How Risky is Bitcoin?
Which is riskier, bitcoin or Tesla? Here is the analytical framework I created to answer that question.
Financialized Everything
Near-zero, zero, and below-zero interest rates changed the incentive calculations and decisions from what they were a mere 30 years ago. You can’t look at policies or almost anything else prior to the early 2000s as a standard for today. The incentives of low interest rates have literally screwed (that’s a technical economic term) things up.
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!”
Helping Clients Understand Inflation
This article can be forwarded to clients to help them understand inflation, its causes, and how various investment strategies protect against it.
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?”
Ignore the Gurus and Educate Your Clients
They might ease our fears or satisfy an inner need, but predictions about the markets or the economy are useless to our clients.
What Will Interest Rates be When the Manipulation Ends?
Interest rate manipulation has been achieved through massive money printing that is causing inflation. To control inflation, bond manipulation must stop. When the manipulation ends, bond prices will plummet, and stock prices will follow.
Wall Street's Model Portfolios Are Misunderstood
Large asset managers provide model portfolios for many purposes — as options in 401(k) plans, as blueprints for institutional clients and affiliated financial advisors, and as suggestions for unaffiliated investment advisors. These have the “lather, rinse, repeat” conflict of interest.
The CFP Board to Planners: Conflicts are Dead
In 2012, an SEC director declared that conflicts kill objective investment advice. But this is no longer true, according to new guidance from the CFP Board.
Wall Street’s ‘Model Portfolio’ Boom Gets Slammed in New Paper
A booming $4.9 trillion branch of the U.S. asset management industry is funneling investor cash into funds that are pricier and worse-performing than alternatives, new research claims.
Nine Charts Summarizing the 96-Year Capital Markets History
Last year was a good year for stocks, but not bonds. The post-2008 recovery has been spectacular, one of the best 13-year U.S. stock markets. I provide details for the entire 96 years as well as five-year and 10-year sub-periods
Three Steps to Yield Financial Happiness
The new year could bring a new you. Despite what the poets say, money, or at least financial security, can be one of the most important steps toward happiness. On the other hand, money mismanagement and debt can result in financial anxiety, which can cloud decision making and lead to a bad cycle.
A Consumer’s Guide to Selecting a Wealth Advisor
Finding the right professional to manage your finances is challenging. Financial professionals have many different titles, certifications and qualifications, but which type is right for you?
The Ticking TAMP Timebomb
Soon – within the next two years – the SEC will wake up and start holding financial advisors who use TAMPs to the same fiduciary standards they hold them to in selecting mutual funds, ETFs, and other investment products. When it does, many advisors will be in trouble.
Reverse Mortgages Reduce Risk for Retirees While Increasing Wealth
A new study, which I co-authored, proves that a withdrawal strategy utilizing a reverse mortgage reduces market risk and increases portfolio growth.
My Top Five Insights from 2021
As we close out the year, I’ll provide my top five advisor observations from my work with large and small practices.
NewsLetter - December 2021
We hope you enjoy the latest newsletter from Harold Evensky.
Why AUM Pricing is Fair for Fiduciaries and Clients
The value for clients is higher with larger portfolios than small ones. The fees should be higher too.
The Best and Worst Investment (and other) Books of 2021
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.
When Advisors Violate Their Fiduciary Duty
Advisors breach their fiduciary duty when they fail to recommend guaranteed income products.
Can an Advisor Be a Fiduciary to Stakeholders and Clients?
Can an investment advisor be a stakeholder company while also discharging its fiduciary obligation to clients?
The SEC’s Dismal Failure with Form CRS
The SEC’s form CRS fails consumers. CRS, meant to inform the public about BDs and RIAs, instead confuses everyone.
‘Pension Poachers’ Are Targeting America’s Elderly Veterans
During his second inaugural address, President Abraham Lincoln proclaimed that America should serve its soldiers long after they were done serving it. Coming just weeks before final victory in a gruesome civil war that killed at least 750,000, his words would become the motto for the Department of Veterans Affairs.
A Life-or-Death Moment for Financial Advisors
Depending upon the decisions advisors make in the near term, their practices will either be setup for monumental growth or inevitable decline.
Are You Ready for Marketing to Get Harder in 2022?
Here are three reasons marketing will get harder for financial advisors next year and beyond. Yet the situation isn’t hopeless. You can adopt strategies that make your marketing easier even with the changes on the horizon.
A Case Study in Effective Goal Setting
Behind every advisor’s success story is a well-laid and executed plan, which starts with effective goal setting. Let’s see how this works in action.
The Winds of Change
The last 20 months have taught us to question everything. What is the future of work? Can American democracy survive? Will Baby Boomers keep consuming more than their fair share? And what comes after “trillion”? Howard Marks’s latest memo examines paradigm shifts that could reshape the economy, markets and the world for many years to come.
Why Fiduciaries Need to Embrace Sales
We’re all salespeople in some sense, fiduciary financial advisors included.
Our Top 10 Advisor Podcasts of 2021
At Russell Investments we have created a series of podcasts aimed at helping you gain insight in how to build a better business, or attract female clients, minimize the impact of taxes on a portfolio or articulate the value you bring to your clients.
Ask Brad: Is Your 1% Fee Too Cheap?
There is no shortage of vocal advisors and observers ready and willing to dive into any conversation about how you should set your fees.
Checking In on Risk Factor Diversification
This article is relevant to financial professionals who are considering offering Model Portfolios to their clients.
The States Strike Back Against Reg BI
Last week’s off-year elections in Virginia, New Jersey, Buffalo and Minneapolis bodes big trouble for the Biden administration. But overlooked was a report from state securities administrators stating, frankly, the opposite. The “states” supported administration efforts to strengthen the regulation of broker-dealers.