Investment Advisor December 2008
Cover Story
Centered
For advisors, and their clients, the conflict between head (rational judgment) and heart (emotional reaction) is always present, but it's probably never been more apparent...
Features
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Addition by Subtraction
I have seen how money ruins families," says Louise Marie Cole, CFP, principal partner of Heritage Group of Companies in Toms River, New Jersey, and...
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Now or Then?
When the wealthy make plans to transition assets to their heirs, they must consider whether it is better to gift during their lifetime or transfer...
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Quiet, Please!
Focus, discipline, and the ability to "turn everything off and just ignore the noise." These are the qualities that Philip Tasho, chief executive officer and...
Beginnings
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Asset Allocation
Behind the Numbers, with Sam Stovall In an interview with Fox Business early November, Stovall talked about his expectations for the remainder of 2008 and...
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New Risk Measures
The bad news in the global hedge fund industry has been hard to escape during this economic and market crisis as substantial investor redemptions, large...
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Finding a Balance
Since mid-September, market volatility has been hitting all-time highs, with crazy rides up and down (often within the same day); it thus may come as...
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Where to From Here?: Election 2008
Now that Barack Obama has been elected the next President of the United States, the nation's inboxes, airwaves, and TV screens are awash with advice...
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Catching Up With KSU's John Grable
For financial planning professionals who want to pursue a PhD, the task can be daunting. However, starting in summer 2009, Kansas State University in Manhattan,...
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Group Think
? The SEC and the North American Securities Administrators Association (NASAA) announced they will waive the initial setup and annual system fees paid by investment...
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Changes
? NAVA announced the election of Mark Casady, chairman and CEO of LPL Financial Services, as the chairman of its board. Casady replaces Clifford Jack,...
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Upgrades
Vanguard is planning to merge the $3.2 billion Vanguard Insured Long-Term Tax-Exempt Fund into the $2.8 billion Vanguard Long-Term Tax-Exempt Fund on December 12, 2008....
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A Lesson in Compassion
THIS MONTH'S HONOREE The individual: Shannon Eusey The firm: Beacon Pointe Advisors The causes: National Network to End Domestic Violence, Miocean Found- ation, Girl Scouts...
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In the Numbers
It's no news to you that it's important to look beyond the headlines, especially when said headlines are coming out of television speakers, to learn...
Columns
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On Philanthropy, Is Your Client a Dynast?
In last month's column, "The Fine Art of Planning with Collectibles," the discussion of valuable collectibles naturally led to the complicated issue of gifting to...
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Yearning to Be Free
As distressing as the market cataclysm has been for individual investors, financial professionals in every stratum have experienced multiples of this strain. Not only do...
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Silver Linings
Well, it's semi-official: We're in the midst of what will undoubtedly be deemed a recession as soon as this economic downturn reaches the requisite two...
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Taking the Good with the Bad
It's unfortunate but true that when the markets and economy are at their worst, advisors tend to see a rush of new business. The current...
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Postcards From the Edge
With the bailout package passed, a new President elected, and the markets beginning to settle down (we hope) a little, it's a good time for...
Conclusions
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Easing Retirement Plan Woes
As reports of the huge losses in retirement plans over the past year continue to surface, members of Congress along with the Treasury Department and...
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Nursing Home Costs Stay Level
"This year, increases were very minimal," notes Sandy Timmermann, director of the MetLife Mature Market Institute, referring to nursing home costs found in the 2008...
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Retirement Planning News & Products
A new study by the Investment Company Institute (ICI) found that only about 3% of accumulated defined contribution plan account assets were spent immediately at...
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Thesis. Antithesis. Synthesis.
The advisor: John Carl The firm: Retirement Learning Center LLC, and the PlanSponsor Institute The Web site: www.retirementlc.com The approach: Providing content...
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A Wealth Management Future?
In a discussion with Mark Tibergien this past summer, the conversation turned to people who not only clearly see the big picture now, but also...
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B/D Briefings News & Products
Ameriprise Financial, Inc. announced that it has completed its all-cash acquisition of H&R Block Financial Advisors from H&R Block. The more than 950 H&R Block...
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Covered by a TARP?
Reports have been circulating that insurance companies were "getting in line" to receive money from the $700 billion bailout, known as the Troubled Asset Relief...
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Rules of Acquisition
After AIG's bailout began in September (it had drawn $90 billion from the Federal Reserve by the end of October), the uncertainty in the industry...
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The Failure of Asset Allocation
Over 20 years ago, a landmark paper was published by Gary Brinson, Randolph Hood, and Gilbert Beebower. The paper attributed the variation in the total...
Sidebar Stories
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What Is SRI?
The socially responsible investing (SRI) movement has been gathering momentum for the last 20 years or so. According to the 2008 PRI Report on Progress...
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The True Goal of Independence
Many breakaway advisors eschew the label of "producer" in this current environment and want to position themselves as advisors on the side of their clients....
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It's All About the Green
The world is going green, but one of the biggest obstacles is the conventional wisdom that individual actions don't matter. Of course, as anyone who's...
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Breaking Away
A new report, Wealth Management Goes Independent: Spotting the Breakaway Brokers, released by Aite Group in late October found that more than one in four...
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Experiencing the Power of Philanthropy
A family retreat can be a great opportunity to initiate clients into the power of philanthropy. Perry Cochell and Rod Zeeb, co-founders of the Heritage...
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The Small-Town Touch
The crisis on Wall Street has led many wirehouse brokers in particular to reconsider their affiliation options. So when a major producer with LPL Financial...
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Never Underestimate The Philanthropic Power of Kids
Krishna Pendyala, chief operating officer and coach of Waldron Wealth Management in Pittsburgh, and his wife Sangeetha have two children: a son, Nyan (which means...
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Checklist for Involving Children in Family Philanthropy
1. The family creates a philanthropic mission statement to help it consistently evaluate charitable requests. 2. Each family member participates in the philanthropic process and discussion. 3....
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DAF or Foundation?
"Many of my clients have wealth that is newly made or created," says Lisa Kirchenbauer, head of Kirchenbauer Financial Management & Consulting in Arlington, Virginia....
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The GRAT
A GRAT is an irrevocable trust where a grantor makes a one-time transfer of property and retains an income stream payable to him, at least...
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Debate Ensues on Mark-to-Market Accounting
The debate about whether fair value, or mark-to-market accounting, is the best way for companies to value their assets ensued October 29 during the SEC's...
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About the Manager
Philip Tasho, CEO and CIO of Alexandria, Virginia-based TAMRO Capital Partners, always had an affinity for languages. That's why he chose to major in Russian...
Sponsor
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Event Spotlight
Think Retirement Income
October 10-11, 2013
Hyatt Regency, Boston, MA
The Retirement Income Symposium has a fresh, new look…welcome to the new and improved RIA Think Retirement Conference. We’re offering the same top-notch educational and networking opportunities to all RIAs, while still paying special attention to the challenges, and opportunities, of offering retirement incomes advice.
For more information, visit www.thinkretirementincome.com.
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