Wealth Management
Top stories summarized by our editors
12/5/2019

Financial advisors need to understand that prospects may be anxious, embarrassed and even distrustful, writes consultant Dan Solin. He suggests showing empathy by acknowledging these feelings and asking how to make the experience more pleasant.

Full Story:
Advisor Perspectives
12/5/2019

The introduction of the Volcker rule in 2008 has rendered hedge funds reluctant to invest in low-liquidity stocks, according to researchers from the University of Manchester. The researchers found hedge funds became less willing to take on liquidity risk after the advent of the rule and shifted their market-making activities from illiquid to liquid stocks.

12/5/2019

Investors who stand to gain or lose millions on the outcome of the UK general election on Dec. 12 are arming themselves with private polling data, AI and methodologies culled from sports betting to help predict the result.

Full Story:
Reuters
More Summaries:
UK, UK
12/5/2019

Rep. Rashida Tlaib, D-Mich., has introduced a bill to end Opportunity Zones, saying they benefit wealthy investors, rather than low-income communities. The legislation, co-sponsored by Rep. Pramila Jayapal, D-Wash., would go further than other bills meant to tighten rules on Opportunity Zones.

More Summaries:
Rep. Pramila Jayapal
12/5/2019

Starwood Real Estate Income Trust has paid $430.9 million for a mixed-use development in Durham, N.C., and for 33 industrial properties in Indianapolis, Milwaukee, Chicago and Columbus, Ohio. The purchase comes after a $180.2 million acquisition of a multifamily property in Alexandria, Va.

Full Story:
The DI Wire
12/5/2019

Inland Private Capital has divested a leasehold interest on behalf of a 1031 exchange program. The $9 million transaction involves a Bank of America office in Rio Rancho, N.M.

Full Story:
The DI Wire
12/5/2019

Use of a 1031 exchange usually applies to operators of commercial real estate, but the strategy can be used on smaller properties, Larry Light writes. He explains how to turn a vacation home into a business property so it can be used in a 1031 exchange.

Full Story:
Forbes
12/5/2019

A panel of experts participating in a webcast on the Securities and Exchange Commission's Regulation Best Interest said it may not require financial professionals to make major changes in the way they do business but that doesn't mean they can wait until the last minute to get ready for it. They noted that preparing for Reg BI may be costly and time-consuming and recommended firms begin reviewing policies and procedures soon.

12/5/2019

The Financial Services Institute has joined a group of eight insurance and financial-services organizations in supporting an annuity suitability standard proposed by the National Association of Insurance Commissioners. The proposal "will make it possible for consumers -- regardless of where they live -- to be confident that insurance companies and producers with whom they are entrusting their retirement savings are acting in their best interest, and not putting their own financial interests ahead of consumers' interests," they wrote in a comment letter.

12/5/2019

Massachusetts Secretary of the Commonwealth William Galvin posted to his agency's website a revised proposed rule imposing a fiduciary standard on financial professionals who give advice to clients in the state. The new version omits a provision in an earlier draft made public last summer that financial professionals must recommend the best available investment option.

More Summaries:
William Galvin