Wealth Management
Top stories summarized by our editors
9/13/2019

A majority of economists say a significant increase in US core consumer prices last month is unlikely to keep the Federal Reserve from reducing interest rates next week, but it could make further cuts before year-end less likely, a Reuters survey finds. "The Fed will still cut rates next week to provide added insurance in the event that the trade war escalates, but it might think twice about moving again in October if core inflation shows any further spark," BMO Capital Markets economist Sal Guatieri says.

Full Story:
Reuters
9/13/2019

Advisors can create a "five-star experience" for clients with small, inexpensive touches, says Susan Kay, director of business development at MFS Fund Distributors. Her recommendations include personalized postage stamps, takeout boxes of candy and hosting events such as a wine tasting.

More Summaries:
MFS Fund Distributors, Susan Kay
9/13/2019

Scammers are having success targeting older Americans, with the Consumer Financial Protection Bureau reporting that people over 70 caught in a scam lose an average of $41,800. Popular scams focus on Social Security, employment searches, pets and grandchildren, experts say.

9/13/2019

As the socioeconomic environment related to gender continues to evolve, it's critical that financial planners be prepared to navigate a new landscape where serving women "in a culturally competent manner" is vital, write Lindsey M. Larrabee and Bradley T. Klontz. "Given the growing segment of female financial planning clients, financial planners would benefit from providing women investors with what they are looking for in a client-planner relationship," they write, adding: "This includes a focus on communication, collaboration and personal values."

9/13/2019

Securities and Exchange Commission Chairman Jay Clayton says he is concerned investors don't understand cryptoasset markets do not offer protections customary in equity markets. "We have lengthy rulebooks, all sorts of protection to make sure prices are not manipulated in the equity markets," he says, adding: "I don't see those in the cryptoasset markets."

9/12/2019

Clients should communicate with their families about their estate plans to avoid the "big reveal" after they die, writes Brad Wheeler of AssetMark Trust Co. He suggests encouraging clients to sit down with family members and explain decisions or do so in a written document.

Full Story:
WealthManagement
9/12/2019

Choosing the right trustee can be difficult, and Antoine Burrell of Wealth Advisors Trust Co. offers seven things to consider when selecting one. Among them are whether to use an individual or trust company, fees, continuity and protection.

Full Story:
Advisor Perspectives
9/12/2019

Four out of every five hedge funds are using alternative data and most of them plan to increasing their spending on it this year, according to a report by law firm Lowenstein Sandler. However, the report also found that many fund managers have concerns about non-traditional data, including its quality and whether it is always lawfully obtained.

More Summaries:
Lowenstein Sandler
9/12/2019

Hedge fund performance turned negative in August, according to data from eVestment. The sector overall slipped into the red to the tune of -0.31% during the month, with funds focused on China, India and long/short equity strategies all reporting losses.

Full Story:
Hedgeweek (London)
9/12/2019

The recent market rotation from growth stocks to those with lower valuations has been particularly painful for hedge funds. Long-short hedge fund exposure to growth stocks has reached a three-year high at a time when company valuations have declined, according to Goldman Sachs data.

More Summaries:
Goldman Sachs