Why Are Baby Boomer Wealth Transfers Failing?

Each year, high-net-worth families spend huge sums preparing their assets for transition to their heirs, engaging high-powered estate and tax planners who set up complex vehicles like family limited partnerships, life insurance, charitable remainder, charitable lead and various other kinds of trusts. Yet, despite the best efforts of top-notch [...]

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Factor Investing Works (Despite What Some May Say)

Don’t fall for claims by highly respected asset managers that factor-based investing isn’t working. Factor-based strategies have outperformed capitalization-weighted indices over long time horizons. Q2 hedge fund letters, conference, scoops etc rawpixel / Pixabay The May 28, 2019, Institutional Investor article, Why Factor Investing Isn’t Working, began by noting, “Pension funds and [...]

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What The CFP Board Needs To Do From Here

I’ve held off on commenting about the Wall Street Journal revelations that the CFP Board gave the impression on its website that advisors had a clean record when SEC and FINRA websites showed otherwise. Like most of you, I wasn’t at all surprised that there were unscrupulous CFP advisors– [...]

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Small Value Stocks Are Cheap

Historically, small value stocks have been the best performing equity asset class. But the last 10 years has been a period of dismal performance. With their valuations now at a historically attractive level, small-value stocks are priced to outperform. Q2 hedge fund letters, conference, scoops etc Goumbik / Pixabay From 1927 through [...]

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Can The CFP Board Survive This Crisis?

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc geralt / Pixabay Trust and confidence in financial advice were news last week. The Wall Street Journal reported that the CFP Board’s LetsMakeAPlan.org website excluded a lot of [...]

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Are We At The End Of The Domination Of Growth Over Value?

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc “In the financial world, good ideas become bad ideas through a competitive process of ‘Can you top this?’” Jim Grant We live in interesting times, at least when it [...]

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SEC Chairman Clayton Misunderstands His Critics

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc On July 9 in Boston, SEC Chairman Jay Clayton defended his June 5 broker and adviser rulemaking (Reg BI). The speech was his first attempt to address [...]

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The Disappointing Reality About ESG Fund Performance

We’d all like our investments to make a positive contribution to environmental, social and governance (ESG) issues. But, as predicted by economic theory, ESG funds have suffered a performance deficit over a long time horizon. Q1 hedge fund letters, conference, scoops etc Goumbik / Pixabay The question of whether ESG funds have [...]

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Two Key Ingredients To A Proper M&A Strategy

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc geralt / Pixabay Not a day goes by that the RIA press isn’t reporting on another merger or acquisition. At industry conferences, the panels discussing M&A are the [...]

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Investors Are Grossly Underestimating The Fed

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc If you think the Fed may only lower rates by 50 or even 75 basis points, you are grossly underestimating them. Currently, the December 2019 Fed Funds [...]

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Low-Volatility Investing Works – Sometimes

The superior performance of low-volatility (and the related factor of low-beta) stocks was first documented in the 1970s – by Fischer Black (in 1972), among others – even before the size and value premiums were “discovered.” The low-volatility anomaly (i.e., lower risk stocks outperformed higher risk stocks) has been [...]

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The Future Of Equity Investing Is Personalization

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc rawpixel / Pixabay The future of equity investing is changing and will soon be driven by personalization. Discouraged by the lack of personalization in many ETFs and mutual [...]

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Healthcare Large Caps Still Undervalued?

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc MabelAmber / Pixabay My investment management firm’s portfolio has a large position in the health care sector, and with AbbVie’s $63 billion takeover bid for Allergan earlier this [...]

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The Five Megatrends Disrupting Practice Growth

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay To grow an advisory practice, identifying advisory megatrends lets you understand where practices, the industry and your clients are headed. Surfing these waves will position your [...]

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How Smaller Broker Dealers Offer Greater Flexibility

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc By Andyhill8 (Andy Hill) [Public domain], via Wikimedia CommonsAs the financial services industry continues to evolve in the face of regulatory changes, fee compression and shrinking margins, [...]

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Probabilities, Truth And Consequences

Why we are bad at probabilities and worse at understanding consequences? Q1 hedge fund letters, conference, scoops etc erik_stein / Pixabay A client came to me recently with a net worth well over $10 million. He had enough money to support his family’s desired lifestyle for the rest of their lives, but [...]

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Are TIPS Cheap?

I’ve been getting lots of questions about whether Treasury inflation-protected securities (TIPS) are a good investment, with the yield at just 0.32% on the five-year. To answer the question of whether TIPS are cheap or expensive relative to Treasuries, I’ll discuss how to make the determination of whether to [...]

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How To Demonstrate You Are A Fiduciary

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay With a heightened focus on providing fiduciary care, I’ve developed a worksheet that I give to prospects to determine if I – or any other [...]

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How Advisors Can Take A Lesson From Batman

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc ralpoonvast / Pixabay Clearly there is an opportunity for advisors to leverage Batman’s uncanny ability to adapt and prepare. He first jumped from the DC comic books to television [...]

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Ensuring Your Portfolios Benefit From Private Markets

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc 3844328 / Pixabay The recent initial public offering of ride-sharing tech unicorn Uber on the New York Stock Exchange illustrates what is a harsh reality to digest. A [...]

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This Trait Will Get You More AUM

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q1 hedge fund letters, conference, scoops etc QuinceMedia / Pixabay Click here to watch a video and learn more about Evidence Based Advisor Marketing. Humans are an intriguing lot. We are bombarded with information in real [...]

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