Physical fitness goals are a popular focus of New Year's resolutions, but what about financial health? As people move up the ranks, their financial situations tend to become more complex. This may suggest that a DIY strategy no longer makes sense and it's time to enlist the help of a professional to help you consider your investment strategy and how to achieve your short- and long-term goals. period goals. Here are his seven areas where advisors can help self-directed investors improve their financial situation, from preparing for negative events to negotiating competing family priorities. Masu.
Other most read wealth management articles this week:
A “golden age” of bonds? Investors are entering a golden age of bonds, a guest columnist writes, when bond yields match historical returns to stocks and they can avoid all the risks associated with the stock market. He argues that the rising yields associated with the many investment-grade and high-yield bond issuances currently available have created a ripe environment for aggressive fixed income strategies. The rise in passive investing over the past decade has significantly lowered the cost of investing in fixed income, he writes, but has also created significant opportunities for active investors to take advantage of.
Is Fisher not for sale? Fisher Investments disputes reports that it is in talks to sell to private equity firm Advent International, saying a Wall Street Journal article citing anonymous sources is based solely on “rumor.” is chanting. Fisher, one of the nation's largest registered investment advisory firms, issued a press release denying the report, saying it does not sell to Advent “or to anyone else.”
When an advisor develops a solution for a client… Financial advisors are well aware that providing thoughtful advice is just one part of the job, getting clients to follow it is another matter. But what if advisors could create resolutions for their clients? We asked some top advisors what kind of resolutions they would create for their clients in this week's feature on his Big Q. I asked. We hear about setting stretch goals, seizing opportunities, taking a step back from market fluctuations and updating your long-term financial plan.
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DOL listens to retirement provisions. The Department of Labor knew that many financial professionals and investors wanted input in its new effort to expand fiduciary duties to include more retirement advisors. After all, the department enacted a similar rule in 2016 that caused a firestorm in the industry (it was eventually struck down in court). The department received the last of more than 19,000 comments on the latest proposal this week. Feedback ranges from vigorous support from fiduciary advocates to full-throated criticism from industry groups who warn that the rule will force many advisors to simply exit the retirement market.
As we enter the new year, the number of M&A deals is increasing. After a slight slowdown in M&A activity in the registered investment advisor industry at the end of 2023 (after setting records for multiple years in a row), there were at least four new deal announcements in the first few days of 2024. The biggest deal was Waverly Advisors' $1.5 billion acquisition of StrategyI Financial Group, but there were also announcements from Dakota Wealth Management, Mercer Advisors and Mariner Wealth Advisors. Advisor M&A expert David DeVoe expects deal activity to pick up in 2024 as lower interest rates potentially free up access to capital.
Also this week, we spoke with Mike Durbin, a former Fidelity executive who became CEO of Cetera Holdings last May. In a detailed interview, Mr. Durbin explained the rationale for Cetera's acquisition of Securian's retail wealth management business, Avantax, and Retirement Planning Group last year. He also reveals Cetera's goals in the RIA custody space and shares what private equity shop Genstar's recent reinvestment in Cetera means for the company's future.
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Have a nice weekend.
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