Investment Advisor July 2009
Cover Story
Lessons From Down Under
The United States and Australia share many similarities. Both nations began their histories as colonial possessions of the British Empire and despite attracting immigrants from...
Features
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Bilocation
We are quickly becoming a single, global community thanks to the 24-hour international media, the spread of the Internet, the immediacy of shared environmental challenges,...
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Right in Front of You
At wealth management firm LarsonAllen Financial, technology has been a key budget item during the past four years as the firm has transitioned to a...
Beginnings
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Asset Allocation
Behind the Numbers, with Gary Shilling That there have been some positive indicators of late is no indication that we're out of the woods. "We've had...
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The Great Health Reform Debate
President Barack Obama has set an ambitious deadline of October to achieve comprehensive healthcare reform, traveling to-and-fro across the nation to warn civilians and lawmakers...
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At Pershing, Opportunity
"I've never been as enthusiastic about the industry," said Pershing LLC CEO Richard Brueckner in greeting attendees at the firm's annual Insite gathering on June...
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Black Rock in $13.5 Billion for Barclays Global
BlackRock Inc. announced June 11 that it will acquire Barclays Global Investors for $6.6 billion in cash and 37.8 million shares of BlackRock common stock...
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Group Think
? MD Preferred Service Network, an online physician resource center, is working with NAPFA to launch the MD Preferred Financial Advisor Network, a program that...
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Catching Up With...
These are challenging times for the mutual fund industry. Once upon a time, fund companies worried that their best money managers were deserting '40 Act...
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Changes
? SEC Chairman Mary Schapiro has announced the appointment of George Canellos as regional director of the SEC's New York regional office, where he will...
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Upgrades
Pershing LLC has rolled out its NetX360 technology platform to 1,000 beta users on both the broker/dealer and RIA channels, following two years of development...
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Numerology: Wealthy Remain Wary
In Barclays Wealth Insights' latest report, New Horizon, New Behaviour, released June 16th, the British wealth manager surveyed more than 2,100 mass affluent and high-net-worth...
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Danger & Opportunity: Bracing for Change
Now that the Obama Administration has released its financial services reform plan via a White Paper June 17, it looks to be all but inevitable...
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Danger & Opportunity: Taking the Really Long View
When Rob Manning goes to work every day, he's got big shoes to fill, since he oversees the first mutual fund, Massachusetts Investors Trust, which...
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Danger & Opportunity: Service Excellence--The Advisors' Take
Like the weather, everybody talks about service. But what actually constitutes good service, and does the definition change if you're offering it to clients in...
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ETF Advisor: Cr?me de la Cr?me--The Best-Performing ETFs for the Long Run
Quick, what do these three exchange-traded funds--Consumer Staples Select Sector SPDR, iShares Dow Jones U.S. Energy Sector, and Vanguard Consumer Staples--have in common? They are the...
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Venture Populist: Proposed--A Hybrid Portfolio Theory
There is a better way to build investment portfolios than the methods presently employed by most investors and advisors. Perhaps that is hard to imagine...
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Editor's Note: New American Revolution?
As I explored for the first time the gritty streets of my father's birthplace a few years back, I was struck by the number of...
Columns
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The Affluentialist: Intangible Assets; Real Challenges
As we examined previously, certain clients may intentionally or forgetfully skip certain information on assets in discussions with their advisors. Other clients may give wildly...
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The Green Advisor: A 21st Century Commodity
At this point it seems highly likely that a climate and energy bill will make it out of Congress this year. Whatever the final form...
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Formulas for Success: Physician, Heal Thy Business
Advisors without a healthy practice and mindset of their own run the risk of being too distressed or distracted to consistently make good decisions--for the...
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Clark at Large: Reality Check
One of the talents you develop from being a reporter for too long is the ability to spot a "source" when you see one. I'm...
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The Psychology of Advice: Crash Consciousness
Can you see JP Morgan Chase employees holding CEO Jamie Dimon hostage to protest layoffs? Or hear suburban parents saying to their kids, "Too bad...
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The Fast Track: Highly Focused, Very Happy
Like most folks, I read with great interest the groundbreaking 2006 Moss Adams Financial Performance Study of Advisory Firms, which described and offered detailed analysis...
Conclusions
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Retirement Planning: Fund Firms Get Ahead of Summary Prospectus Deadline
While mutual funds are busy getting up to speed with the Securities and Exchange Commission's summary prospectus rule--the Commission only requires mutual fund companies to...
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More From the Silver Lining Department
Here's another silver lining of sorts that's come out of the recession--at least for advisors and maybe even for the growing ranks of the unemployed:...
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Retirement News
A new study of target-date fund investments by the Employee Benefit Research Institute (EBRI) found that participants in 401(k) plans dominated by those with low...
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Broker/Dealer Briefing: Which B/D Model Works Best?
As I was jetting home recently from my fifth broker/dealer due diligence meeting since January, with another five on tap before year-end, and ten years...
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Insurance Update: Classroom or Courtroom?
After a series of high-profile actions in his position as New York's top insurance regulator--the most powerful regulator's post in the country, thanks to its...
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Expert's Corner: When A Sure Thing Goes Bust
If you have ignored the latest schemes dreamed up by enterprising insurance agents to sell large life insurance policies, it is time to get educated...
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Soapbox: Euthanize Wealth Management Practices
The wealth management practices of the Wall Street firms and big banks are broken. Again. To understand this point, it's important to step back and remember...
Sidebar Stories
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The Ethics of Advice
The definition for, and the application of, a fiduciary standard is a topic in great debate now within the U.S. financial services industry. In Australia,...
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Watch Out
Following are some common traps in determining intellectual property rights, from Sharon K. Sandeen's Intellectual Property Deskbook for the Business Lawyer (American Bar Association, 2008). 1....
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How To Make Cap and Trade Work
According to the Environmental Defense Fund, a successful market-based cap and trade program for carbon emissions requires a few minimum elements. All of the following...
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Crisis Hits Middle-Class Retirees Hard
In the last six months of 2008, the financial future of retirees and pre-retirees took a huge blow, according to a recent report released by...
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The IRS Weighs In
If past participants of stranger-owned life insurance were promised easy money at no cost, the rules of the game have changed. In May 2009, the...
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How to Speak Australian
Anyone who's ever been to an Outback Steakhouse knows the difference between a Bloke and a Sheila, and probably that Foster's is Australian for beer....
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Behavior Modification
Beyond providing money for emergencies, a generation-skipping trust can be structured in ways that attempt to guide the behavior and life choices of future generations...
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How Much Can You Save?
Everybody says that automating regularly conducted tasks can save an advisory firm money, but how much? For instance, Schwab Technology Consultants estimates that for every...
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Tech Evangelist
One of the most effective ways to get staff to use the technology that a firm already possesses to its full advantage is to appoint...
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Regulatory Reform Angst
It's clear that advisors are worried about the impact of regulatory reform measures--specifically now that President Obama's blueprint (announced June 17 and available for download...
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Changing Shades of Blue
As of December 31, 2008, the top five holdings in Massachusetts Investors Trust, which this year celebrates the 85th anniversary of its founding, were the...
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What Do Advisors Want?
When it comes to service from their custodians, advisors want accurate, timely information, but they also want a partner with integrity. In fact, when asked...
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A Well-Founded Distrust
Cultural differences about money and investing are often rooted in sometimes bitter experience. That's likely the case with people from Argentina. According to my son,...
Web Extras
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Taking the Really Long View (Longer Version)
When Rob Manning goes to work every day, he's got big shoes to fill, since he oversees the first mutual fund, Massachusetts Investors Trust, which...
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Thinking about switching firms, whether it's for the potential to earn more money or to...
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Start building long-term, loyal clients and advocates today by utilizing the latest research and our...
Complimentary White Paper: "Strategies on Advising Couples"
Grow your practice by rethinking how you view, interact and approach investment decisions when working...
Breaking up is hard to do
Love being a financial advisor? Not getting what you need from your current firm? Hear...
The Best of Both Worlds with Century Securities
Our independent affiliates enjoy the freedom to make important choices and the professional resources of...
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Ameritas Advisor Services can give you the tools you need to help your clients with...
Working Smarter: Engaging Prospects And Clients Through Social Media
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Find out the four crucial steps you need to follow to choose the right technology...
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