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“1992 is not a year on which I shall look back with undiluted pleasure. In the words of one of my more sympathetic correspondents, it has turned out to be an ‘Annus Horribilis’.”—Queen Elizabeth II, a...
During the period from October 22 to October 31, Wealth Manager polled the 2008 Top Dogs firms for their views on a broad range of issues. Here is what they told us: Asked to rank current issues of co...
FINRA CEO Mary Schapiro was named SEC Chairman by the incoming Obama administration, according to The Associated Press on Dec. 18. Schapiro led FINRA through the consolidation of the NYSE regulatory a...
to 1/4%,” down from a target rate of 1% established at the last Federal Open Market Committee meeting. The Fed’s announcement noted that it will “employ all available tools to promote the resumption o...
It used to be that to establish these types of charitable entities, more time was required. But now, establishing a private foundation only takes about “three days,” says Page Eberstadt Snow, chief ph...
While the Treasury Department of Henry Paulson drives the $700 billion Troubled Assets Relief Program bus that is meant to restore confidence and liquidity to the credit markets, and capital to banks,...
While remaining strongly optimistic about the future growth of wealth management throughout the report, authors Sean Cunniff and Matthew Bienfang were literally prescient in identifying regulation as ...
For high-net-worth clients, year-end tax harvesting used to be confined primarily to finding ways to ease the burdens of capital gains. Not this year—which may be one of the reasons Denver-based activ...
Many businesses have learned the hard way that just because they incur expenses for business reasons does not mean that those outlays automatically qualify as deductible. Internal Revenue Code Section...
In the 1976 movie “Marathon Man,” Dustin Hoffman is being tortured by a Nazi war criminal played by Laurence Olivier, who asks him repeatedly, “Is it safe?” Hoffman, who doesn’t understand the questio...
Knowing your customers isn’t critical for launching a business, but it comes in handy for staying solvent. But what about advising clients on philanthropy? How much do you really need to know about wh...
These are painful days for target-date funds. During the third quarter of 2008, funds with target dates ranging from 2015 to 2029 lost an average of 9.8%, compared to a decline of 8.4% for the S&P 500...
For clients of wealth managers, the souring economy is a mixed bag. On the upside, a credit crunch gives those with lots of ready cash greater buying power. That makes it easier to pick up bargains in...
In my day-to-day job, my primary responsibility is to consult with wealth managers about planning issues that come up and to offer planning techniques to address those issues. My role is to react to t...
Perhaps there’s some logic to an overwhelming focus on what’s just passed. But the bias recalls Santayana’s dictum about the dangers of ignoring history as a shortcut for repeating yesteryear’s mistak...
So said Peter Bernstein, the first editor of The Journal of Portfolio Management (currently a consulting editor). And since with investing, we are dealing with uncertainty (not risk, where we can meas...
It is certainly no secret that one of the most important characteristics of a comprehensive wealth management solution is an emphasis on diversification. By owning a variety of asset classes that res...
During periods of market uncertainty, investors often try to reduce risk by shifting assets from the more volatile sectors of their portfolios—usually equities—to less risky assets like bonds, or in t...
Owning multiple asset classes is the foundation of sound investment strategy. As commonly analyzed and practiced, however, multi-asset class diversification may offer fewer risk management benefits th...
I believe that the single biggest mistake that wealth management firms can make today is to allow themselves to panic and stop investing in their business. Reducing staff or delaying necessary investm...
During these chaotic market times, many clients are struggling to stay calm and confident. Fortunately, they have you to vent to, to express their concerns and hopefully get some relief. But, what abo...
What is it like to be a pioneer in a field that’s popping? Ask Dr. Susan Massenzio, consulting psychologist at Wachovia’s Calbre Division. After more than 20 years of advising hundreds and hundreds of...