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Wealth Management
Top stories summarized by our editors
6/5/2020

With most financial advisory employees likely working at home because of the coronavirus pandemic, now is a good time to review operating procedures and work to eliminate gaps and redundancies, consultant Angie Herbers writes. She offers five steps firms can take to improve their operations.

6/5/2020

Financial advisors looking to grow their assets under management should use wealth mapping to identify growth opportunities with existing clients, write Russ Alan Prince and Brett Van Bortel. They contend this strategy can increase AUM by 20%.

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Russ Alan Prince
6/5/2020

Composite multiemployer retirement plans that incorporate defined-benefit and defined-contribution features are likely to do better in times of economic stress than traditional multiemployer plans, according to a study sponsored by several construction industry employer groups. "This new report makes it clear that composite plans offer workers the kind of security and stability that too many traditional multiemployer retirement plans promise but are unable to deliver," said Associated General Contractors of America CEO Stephen Sandherr.

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Stephen E. Sandherr
6/5/2020

For many financial advisers, the turmoil caused by the pandemic prompted a new focus on proactive communication, and now might be a good time to try using videos as a key method to stay connected with clients, writes Kristine McManus, CRPC®, chief business development officer, practice management, at Commonwealth Financial Network. She offers a list of tips to make your videos effective and easy to create.

6/5/2020

Critics of the Securities and Exchange Commission's Regulation Best Interest argued before the US 2nd District Court of Appeals on Tuesday that the measure should be declare illegal and vacated, while the SEC defended the measure. The court is expected to rule on the matter before Reg BI goes into effect on June 30.

6/4/2020

Financial advisors can help cash-strapped clients who must tap retirement assets avoid costly mistakes, writes IRA expert Ed Slott. He lays out different options and how to maximize benefits while limiting taxes and penalties.

6/4/2020

The US Department of Labor has written a letter that authorizes 401(k) plans to offer private-equity exposure to savers, in response to petitioning from the alternative investment sector to include such an option. Doug Keller, head of private wealth at Pantheon and Partners Group, says the letter should resolve any lingering concerns that the option could bring litigation problems for investment managers.

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US Department of Labor
6/4/2020

Hedge fund managers are skeptical about hopes for a v-shaped economic recovery amid fears the recent market rally has failed to price in the reality of the economic situation.

6/4/2020

The latest Institutional Investor Fear Index findings suggest inventors have no immediate plans to return to normal working patterns in the immediate future. Just 15% say they plan to return to the office this month, with 31% planning to put off holding face-to-face meetings with clients and asset managers until later in the year.

6/4/2020

Hedge funds are adopting a cautious approach to the recent recovery in the industrial metals market. Despite industry data registering a steady fall in short positions in recent weeks, outright long positions have increased to just to 35,915 from 28,991 at the start of April.

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Reuters