Headlines

    You Don’t Need to Buy the Latest Newfangled Index ETF to Retire Comfortably

    MarketWatch article by Chuck Jaffe

    The Morningstar Investor Conference this year felt a bit like a car show.

    The bulk of the focus was on what’s new and what’s next, with everyone wanting you to try the latest concept or to take some flashy new style for a test drive.

    Amid the new-car smell of the event held here last … Read More

    Millennials Still Have Debt, are Still Scared of the Stock Market, Goldman Sachs Finds

    MarketWatch article by Jillian Berman

    No matter how many times you ask them a slightly different version of the same question, millennials’ feelings on money, financial products and big ticket purchases will still remain basically unchanged—a fact pollsters, retailers, think tanks and others seem to be struggling to understand.

    For the latest evidence of this trend, enter Goldman Sachs GS, … Read More

    Same-Sex Marriage Ruling Levels Financial Playing Field

    CNBC article by Ilana Polyak

    The Supreme Court today delivered a historic victory for gay rights, ruling 5 to 4 that the Constitution requires that same-sex couples be allowed to marry no matter where they live and that states may no longer reserve the right only for heterosexual couples.

    With that Supreme Court decision extending the right to marry to … Read More

    The Myth of the Simple Will

    By attorney Robert Fleming

    “I don’t want anything complicated,” said our new client. “I just want a simple will.”

    For almost four decades, we’ve been waiting for the client who wants a complicated will. We’re still waiting.

    We hear the “I only want a simple will” request often. What clients really mean, of course, is “I want a cheap will.” … Read More

    How Much is Too Much to Leave Your Kids?

    Article by Pamela Yip

    Imagine that you’re a self-made person with $100 million in assets.

    Do you leave it all to your children?

    A coming intergenerational shift in wealth raises many issues for rich families, including how much to give children without doing more harm than good.

    Financial advisers say the affluent families they deal with are most concerned with … Read More

    Morgan Stanley Wants Google to Stop Hiding How it Gets its Revenue

    Business Insider article by Jim Edwards

    Morgan Stanley analyst Brian Nowak and his team believe that Google could add more than $100 to its stock price if it became a bit more transparent about how it makes its revenues.

    GOOG is trading around $541. Nowak’s note is titled “The Pathway to $650.”

    It reads like an open letter to new … Read More

    15 Ways to Retire Early

    Huffington Post article by Lou Carlozo

    The word “retirement” and number “65″ are as linked in the American psyche as “bacon and eggs.” Then again, that all depends on how fast you want your eggs, right?

    Retiring early — or leaving the work force for the golf course, if you like — might sound like an unattainable goal. That’s especially … Read More

    Judge Rules Owner Tom Benson, 87, is Mentally Fit to Run Saints

    CBS Sports article by Ryan Wilson

    Tom Benson, the 87-year-old billionaire who was in a legal fight with his estranged heirs over ownership of the New Orleans Saints, was deemed competent by a judge Thursday to continue running the organization.

    His daughter, Renee Benson, and grandchildren, Rita and Ryan LeBlanc, had previously asked the judge to declare Benson incompetent, arguing … Read More

    SEC Asks for Public Comments on Exchange-Traded Products

    Traders Magazine article by John D’Antona Jr.

    The Securities and Exchange Commission announced that it is seeking public comment to help inform its review of the listing and trading of new, novel, or complex exchange-traded products (ETPs).

    The request, made via its website, looks to address key issues that arise when exemptions are sought by a market participant to trade … Read More

    A Little Honesty Might Preserve the Family Fortune

    Reuters article by Chris Taylor

    When Stephen Lovell used to visit his grandparents as a kid, it was like entering the world of Cole Porter or “The Great Gatsby.”

    People dressed in tuxedos and sipped cocktails. They owned boats, airplanes, a hobby farm. Not to mention a lavish mansion in Ontario, Canada, and a summer home in Southampton, New York.… Read More

Features

Schwab Robo: Liberation for Advisors or Client-Stealing Trojan Horse?

Hoopla around nominally free portfolio population and rebalancing tools exposes deep divide between self-directed “mass affluent” and high-net-worth advisory cultures.

Charles Schwab’s advisor-focused “robot” portfolio program only went live last week and hard industry lines are already forming between people who are convinced it’s an evolutionary leap and those who think it’s an extinction event.

On one side of the … Read More

2016 Superdonors Take Sides On Estate Tax: Is Hillary Caught In The Middle?

Massive money is flowing toward any Republican candidate who will kill the federal death tax. The Clinton campaign faces challenges from the left and risks alienating the only swing voters who remain in the middle.

At this point, we can probably figure out how just about every American billionaire will vote in the next presidential election. Public lines have already … Read More

Food Network Giant Bobby Flay On $20M Meathook Over Stale Prenup

Ten years after the marital contract, the hotshot cook has become a restaurant phenomenon. But if his soon-to-be-ex-wife really contributed to his success, the prenup may be well past its expiration date.

Unlike a lot of celebrity millionaires, Bobby Flay at least tried to protect his Food Network wealth when he married third wife Stephanie March a little over a … Read More

Hello Caitlyn, Good-Bye Wheaties: $500 Million Backlash Begins

Potential advertisers and one-time allies move to the sidelines after gala debut, leaving reality star adrift. Good lessons here for advisors who need to regenderize a high-profile client on the go.

The Twitter feed is the pulse of cash for the Kardashian-Jenner family, so an appraisal of the financial impact of father Bruce evolving into Caitlyn Jenner has to start … Read More

3 Things You Really Need To Think About When Changing Firms (It’s Not the Money)

Whether advisors are breaking away or simply tucking into a larger practice, treating a transition as a transaction instead of a strategic move can become a disaster. Think before you leap.

Here at Beirne Wealth Consulting, we see a lot of advisors on the move as we roll out new offices across the country. Sad to say, quite a … Read More

Architect of the Financial Recovery Ben Bernanke Ready for the Future

Nearly a decade after the wheels came off the financial system, even a historian like Bernanke is eager to move on. Here’s what the entire industry can take away from the former Fed chief’s comments to Pershing advisors.

Ben Bernanke got a standing ovation at this year’s Pershing advisor conference largely as a measure of gratitude for his struggle for … Read More

Pershing Advisor Conference Embraces Industry Reinvention

Incremental growth takes a back seat this year to calls to harness more disruptive forces that challenge every aspect of the business. From process to product, this show is all about reminding affiliates that change can be good.

If this year’s gathering of Pershing affiliates had an unofficial mascot, it would be a toss-up between the fully functional “robo-advisor” roaming … Read More

Dennis Hastert Broke Cash Rules That He Helped Create as GOP Lawmaker

Hush money scheme proved that surveillance programs work so well that even their architects eventually get caught in the web. Are your clients raising FBI red flags?

The details of Dennis Hastert’s downfall aren’t really germane to what we do around here, but it’s clear that he’s an expert in the financial reporting requirements that ultimately aired his dirty secrets.… Read More

Mad Men Becomes Immortal: How Advisors Can Boost Business by Finding Themselves

Eight years of searching for identity ends on a sublime note and a ratings peak. Like the advisory industry, the iconic show has evolved from selling products to you and your clients building lives together.

When Mad Men started back in 2007, it was all about the clothes and the nostalgic rush of rewinding society back a few decades.

Back … Read More

B.B. King’s House of Blues Goes Dark: When National Treasures Die

Unlike a lot of working octogenarian entertainers, he stayed on the road because he liked it, not because he needed the cash. Royalties rolling in and $5 million in the bank ensured that the longest blues career on the planet ended on a high note.

B.B. King didn’t die a billionaire at the age of 89, but it looks like … Read More

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