Investment Advisor August 2009
Cover Story
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It's the fact that the firm is multi-custodian and multi-clearing. It's the fact that its backers include some of the smartest people in the business....
Features
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Making Lemonade
Laura Hearn is a private client advisor for RMB Capital Management in Chicago, which manages about $1.2 billion in assets for wealthy families around the...
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New Day, New Tools
With budgets tighter than ever these days, many firms have found it difficult to pursue new technology initiatives and make new purchases. As a result,...
Beginnings
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Asset Allocation
Behind the Numbers, with Mark Balasa Although risk remains, Balasa says that he and his colleagues in the Alpha Group have "a growing optimism around some...
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Fiduciary to the Forefront
To even the most casual observer, the need for a fiduciary standard that assures that any professional who provides financial and investment advice does so...
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Now and Then
When it comes to how advisory firms are dealing with the continuing economic uncertainty, there's a clear divide between larger firms and smaller firms. Tom...
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Schwab Cuts Costs for Its Advisors
The evidence is clear that since the markets and economic crisis began advisors have been working longer hours, in particular spending more time with clients,...
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A New Kind of Taxpayer Advocacy
As a multitude of groups (see lead news story)--are making their voices heard in Washington, a smaller organization is just getting started in its advocacy...
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Healthcare Reform Steamroller Advances
As Congress continues to forge ahead with healthcare reform, House Democrats as well as the Senate Health, Education, Labor, and Pension Committee (HELP) introduced in...
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Group Think
? The Securities and Exchange Commission voted unanimously June 24 to propose rule amendments to require money market funds to maintain a portion of their...
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Changes
? Ram Subramaniam has been named managing director and head of products at TD Ameritrade. In his new position, Subramaniam will report to Peter Sidebottom,...
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Upgrades
Following its integration with Security Global Investors, Rydex Investments is now branded to advisors as Rydex|SGI. In June, Richard Goldman, CEO of SGI, said the...
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Numerology: Turnaround for Hedge Funds
Following the worst year ever for hedge fund performance, so far 2009 is shaping up as quite a good one. According to Hennessee Group, which...
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The ETF Advisor: Those Outperforming Small Caps
Small-cap stocks are a thorny problem for investors. With thousands of different issues and little analytical coverage available, it is a difficult and time-consuming task...
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Venture Populist: Positive Asymmetrical Outcomes
Recent proclamations in this column and venturepopulist.com blog posts that "MPT failed" in the crisis of 2008 have elicited a distinctively binary response from wealth...
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Danger & Opportunity: Consumers Take Center Stage of Reform Debate
Financial services reform continues to unfold, with two pieces of legislation being sent to Capitol Hill in July aimed at protecting investors--the first establishing a...
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Danger & Opportunity: Manual Labor
Even in these most challenging of times, advisors can prosper by focusing on maximizing their unique strengths, rather than trying to fit into some predetermined...
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Editor's Note: Change Partners
"These great Wall Street firms survived the Depression," pointed out Tom Bradley, "yet they couldn't survive this. Maybe it's because back then they were partnerships."...
Columns
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The Affluentialist: The Importance of Valuing the Intangible
As we explored in last month's column about the importance of including intangible assets (patents, copyrights, trademarks, etc.) in any comprehensive plan, valuing those assets...
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The Green Advisor: Cleaner Air and Cash
Although the climate bill that passed the House of Representatives in June went through many changes on its way to securing a majority of support,...
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Formulas For Success: The Missing Link
Most operational hazards arise from the ineffective management of human capital--yet far too many advisory firms view "operations" in the restricted context of software, hardware,...
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Clark at Large: Something About Mary
The drive to reregulate financial advice shifted into high gear on June 17, when the Obama Administration released its white paper containing proposals for 21st...
Conclusions
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Retirement Planning: What's Next For Target Date Funds?
What should become of target date funds? These are the so-called set-it-and-forget-it funds that are gaining in popularity, particularly since the Pension and Protection Act...
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More Annuities Used in Income Portfolios
At a time when the market downturn has caused some advisors to question their ability to construct adequate retirement income portfolios, advisors are increasingly turning...
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Retirement News
The House Education and Labor Committee approved in June the 401(k) Fair Disclosure and Pension Security Act of 2009 (HR 2989); two other bills, the...
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Broker/Dealer Briefing: Fidelity Enhances Broker Workstation
Fidelity's National Financial unit announced July 13 enhancements to its Streetscape brokerage platform, including the addition of Thomson One wealth management applications, that will be...
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Millionaires Say 2008 Not So Bad
The high-net-worth feel pretty good about their advisors, reporting that they not only helped limit their investment losses in 2008, but by communicating with them...
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B/D News
Ameriprise Financial Services has agreed to pay the SEC $17.3 million to settle an enforcement action that the Commission brought against the Minneapolis-based broker/dealer. The...
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Insurance Update: Active Management
The life insurance industry, whose standing Fitch ratings dropped last fall from stable to negative, has been shown in a new Fitch report to have...
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Expert's Corner: Time to Talk Insurance
As if you don't have enough on your plate--reevaluating client risk tolerance, rebalancing portfolios, developing plans to bring goals within reach--I am about to add...
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Soapbox: Ducking (Swanning?) for Cover
It's one thing for clients to be unhappy about losing money and quite another to be unhappy about bad advice. No one enjoys losing money...
Sidebar Stories
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The Palaveev Manifesto
Following is an excerpt from an article by Philip Palaveev, president of Fusion Advisor Network, formerly of Moss Adams, and a regular contributor to Investment...
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Find the Fit First
Bill Morrissey has developed a very tightly focused niche. But rather than doctors, business executives or sports stars, Sound Financial Planning will take anyone as...
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First Things First
Finding workflow solutions specific to your firm can be made easier once you define the actual business you are in and the client service experience...
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Valuation Myths
Since valuation is part science and part art, it's easy to fall into misconceptions of the valuation process. Two valuation experts recently identified common myths...
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Alternative Energy Twisting in the Wind
Last July in this column ("Energy Is in the Air"), I wrote enthusiastically about T. Boone Pickens's plans to build the world's largest wind farm...
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Reviewing the Situation
Here are the steps you can take to prepare your clients for a review of their insurance needs: o Set expectations by sending an agenda of...
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Side Effects
Advisors might want to take a look at clients' term life insurance coverage. It's been easy over the last several years to seek out new...
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Camera-Shy CEO
Elliot Weissbluth is a man on a mission. As CEO of HighTower advisors, he is the public face and voice of a firm with a...
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Wall Street Theses
Listening to HighTower advisors speak about Wall Street is like listening to a passel of Martin Luthers speaking about the corrupt Church of the Middle...
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Tweaking Your Money Personality
The financial cataclysm has shaken entrenched attitudes toward money, too. Many spenders are spending less and even learning the virtues of saving. Some hoarders who...
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How Smart Bosses Are Making Lemonade
Some companies are searching hard for alternatives to downsizing. A May 2009 article in Ode magazine ("How to cut costs and keep your employees") recognizes...
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Technology by the Numbers
Even in the challenging market and economic environment, independent advisory firms are looking for opportunities to position themselves for long-term growth by investing strategically in...
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Ask These Questions
Selecting a technology vendor is a key decision in the buying process. Make sure you talk to a potential vendor's customers--ideally ones you've found on...
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Group Think
When it comes to implementing new technology, the best firms involve staff members early and often. Take West Des Moines, Iowa-based Foster Group's decision matrix, for...
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Congress Presses Schapiro to Protect Investors
While members of Congress praised SEC Chairman Mary Schapiro July 14 for acting quickly to institute changes at the beleaguered agency, lawmakers said more work...
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