Investment Advisor October 2007

Cover Story

  • Got a Minute?

    Google the phrase "time management" and you'll get close to 1.2 billion hits. Not bad at a time when Britney Spears results in a paltry...

Features

  • Behind the Numbers

    Next time you're thinking about investing in a hedge fund or managed futures account, you may want to check with your grandmother. Explain what you're...

  • Tech Tools

    Creating a solid, goals-based investment strategy for your clients, one that is subject to continuous improvement, should ideally be your top objective. However, if you...

  • Love Those Taxes!

    Just a year ago in an Investment Advisor cover story and follow-up (October 2006, "Eureka," and November 2006 Wealth Advisor column, "Digging Deeper"), we described...

  • Brother and Sister, Where Art Thou?

    To judge by the Genesis story of Cain and Abel, sibling rivalry has been going on as long as there have been siblings. Although this...

  • The Longevity Race

    Perfectionists, but in a good way, is how Paul Lofties might describe the advisors he manages at Securities America. After installing the retirement distribution tool,...

  • The Kids Stay in the Picture

    As increasing number of planners adopt a holistic approach to their clients' money matters, many are taking a closer look at the relationship they have...

  • Transparency and Respect

    There's been much debate recently among regulators, industry associations, and advisors themselves about fiduciary responsibility. Jim Dew, principal and sole practitioner of Dew Wealth Management...

  • Simulation Wizardry

    Financial planners have long searched for a tool that provides flexibility in modeling the specific nuances of various clients' situations. Finding that all-inclusive program has...

  • Bottleneck

    "A bank may be said to be solvent when its assets are so constituted that a liquidation would necessarily result at least in complete satisfaction...

Beginnings

  • Clark Strikes Another Nerve

    Bob Clark's latest, and not-so-greatest, column ("Genius, Pure Genius," August 2007) missed the point the National Association of Personal Financial Advisors (NAPFA) made concerning the...

  • Asset Allocation, October 2007

    To learn this month's recommended asset allocations of Investment Advisor's panel of distinguished economists and money managers, click here.

  • Sub-Prime Returns Redux

    August appears to have been the worst month for hedge funds since May 2006, when 70% of all hedge funds fell. The first two weeks...

  • Don't Hang Up On Telecom

    Telecom stocks have performed well this year, beating the broader market, amidst a climate of increasing turmoil and volatility, rising inflation, higher interest rates and...

  • A Robust FPA Celebrates

    Only days after he testified at the Senate Special Committee on Aging on the duties of financial advice givers, Financial Planning Association President Nicholas Nicolette...

  • Mark Tibergien Named CEO of Pershing Advisor Group

    Pershing llc named Mark Tibergien as CEO of Pershing Advisor Solutions (PAS) on September 6, and as a member of Pershing's executive committee. Tibergien, currently...

  • Vanguard Price Cut for Big Investors

    For investors with more than $100,000 at Vanguard, the news is good: reduced costs, broader services, and for the highest bracket, access to some mutual...

  • How the Credit Crunch Might Slow the Economy

    Could the current credit and markets crisis affect the economy? All eyes were on the Fed as we went to press and what it would...

  • Group Think

    The Social Investment Forum and the Interfaith Center on Corporate Responsibility launched a Web site--www.SaveShareholderRights.org--to organize individual shareholders in opposition to SEC proposals to change...

  • Changes

    SEC Commissioner Roel Campos will join the law firm of Cooley Godward Kronish in early September, at which time he will leave his SEC post....

  • Upgrades

    LaserFiche has rolled out Intuition, a version of its popular document management system designed for smaller advisory firms. Available in two versions--one costing $1,495, the...

  • Slight Growth in RIAs

    The universe of registered investment advisors grew only slightly during the past year, according to National Regulatory Services and the Investment Adviser Association's seventh annual...

  • Catching up with... Milton Ezrati

    There has been a bit of turmoil in the economic markets in recent months, making many investors--and their advisors--a bit skittish. Milton Ezrati, senior economic...

  • All About the Numbers?

    Fidelity's new retirement income tool, the Fidelity Retirement Income Evaluator, has a neat feature. It incorporates Monte Carlo software so an advisor can illustrate to...

Columns

  • The Assets Clients Hide

    Advanced planning for affluent clients is often like solving a puzzle. The puzzle pieces include your clients' attitudes, goals, and assets as well as extensive...

  • Exit, Stage Left

    There comes that awful realization in every advisor's life when he finds himself in the netherworld between wisdom and obsolescence. It's that moment when the...

  • Difference of Opinion

    Knut Rostad is the compliance officer for Rembert Pendleton Jackson, an independent advisory firm in Falls Church, Virginia, with $700 million in AUM. Over the...

  • Making Compliance Headway

    Four years since the passage of the SEC's "compliance program rule"--requiring registered investment advisors to adopt and implement compliance policies and procedures, appoint a chief...

  • Beyond E-Myth

    Virtually every one of my consulting engagements begins with the advisor/client asking if I've read The E-Myth. Then as I work with them, my clients...

Conclusions

  • Birds of a Feather

    There's a tendency among small businesspeople who share the same interests to come together for fellowship, networking, and to gain the economies of scale, for...

  • Helping the Most Vulnerable Retirees

    Lawmakers, the Securities and Exchange Commission, and state regulators are bent on making sure advisors with designations touting expertise when it comes to helping seniors--the...

  • Singles and Special-Needs Clients

    Micki Pitch runs a two-generation practice in Cedar Knolls, New Jersey, with her eldest son, Joe. They specialize in serving the investment and retirement needs...

  • IRA Rollovers Rebound

    It looks as if there's a group of people with a significant amount of money that are in need of your services when it comes...

  • NEWS & PRODUCTS, OCTOBER 2007

    The Senate Finance Committee took up the issue at a September 5 hearing of whether increased tax liability for private equity managers would be paid...

  • A Shot in the Dark

    How do registered representatives decide what to charge clients for their services? There are published prices for trades through various discount brokers who certainly have...

  • NEWS & PRODUCTS, OCTOBER 2007

    FINRA has fined AXA Advisors, LLC, $1.2 million for "failing to adequately supervise its fee-based brokerage business, and for distributing misleading sales literature for its...

  • Do You Recall?

    It's been a tough year for recalls. First it was pet food. Then everything from livestock feed to toothpaste, shrimp, fish, and toys to tires...

  • It's Not All Gold

    Is there a buying frenzy going on? These days, it seems as if everyone wants to buy a practice to grow her business. Sometimes an...

  • To Hedge or Not to Hedge

    The current vogue for hedge funds has caused this once arcane corner of investments to grow exponentially; after the three-year bear market of 2000-2002, investors...

Sidebar Stories

  • James P. Dew

    Dew Wealth Management 8800 East Raintree Drive, Suite 115 Scottsdale, Arizona 85260 Phone: 480-614-9119 Web site: www.dewwealth.com E-mail: jim@dewwealth.com Year practice started: 1999 AUM: $45 million Compensation: Fees and commissions Number of clients: 200...

  • Beware the Seminar, My Son

    Like many advisors look to build an independent practice, Jim Dew saw seminars as a great way to attract clients. As he discovered the hard...

  • Cash Camps for Kids

    Money Camps, Inc. (www.moneycamps.com) holds events for people of all ages, especially children. Money Camps for Kids was created to introduce the world of finances...

  • Separate but Equal

    Parents often try to "equalize" distributions to avoid upsetting their children, but you may be able to suggest a different solution that will be more...

  • "In the Know": Non-Spouse Rollovers

    On January 10, 2007, the IRS issued Notice 2007-7, which was followed by a clarification of the Notice (February 13, 2007) due to the numerous...

  • What Troubles Investors

    American investors have significant anxiety about the security of their investments, particularly as it relates to their retirement savings, according to a new FINRA report....

  • Ask These Questions

    As part of your due diligence process when you are considering purchasing another firm, there are certain bits of information you must uncover. Following are...

  • Doing Due Diligence

    An experienced due diligence questioner knows how to probe for a trading advisor's weak spots. Take Fred Gehm, a consultant to trading advisors and hedge...

  • Refereeing Sibling Bouts

    When you're dealing with sibling friction over money, these guidelines may help steer you toward a satisfying resolution for the parties involved: 1. Assess the level...

  • "In the Know": Carried Interest and Municipal Bonds

    When this article was being written, the debate continued in Washington regarding the tax rate on carried interest. Today, it is taxed at the capital...

  • Green Tax Benefits

    There are several bills in Congress in various stages of debate. A few environmentally aware highlights that may affect your clients' plans include: Smaller...

  • What Color Is Your Firm?

    The growth of financial advisory firms reveals distinct phases of firm development. We've observed that each stage has unique characteristics, challenges, and opportunities that must...

  • SEC Revising Its Exam Hotline

    The government accountability Office (GAO) is advising the SEC to relocate its hotline that allows advisors to lodge complaints about an exam to an independent...

  • What Color Is Your Job?

    Some questions to ask when making the choice whether to manage or advise: When did you last review and refine your business strategy? Is it...

  • How Does it Work, And How Do I Get It

    The three basic factors that underwriters look at, says Bill Harrison, managing director of Aon's Crisis Management practice, are procurement, quality control, and crisis management....

  • Behind the Numbers, with Richard Bernstein

    In a recent conference call to investors, Merrill Lynch's chief investment strategist had some comments both about equity returns and volatility. "We still expect kind...