Nationalism and Globalization After COVID-19
Since the Great Recession, investors have watched the U.S. dollar and U.S. equities outperform their peers in the face of a destabilizing world order. Global economic policy uncertainty surged to the highest levels on record as investors faced a decade of political and geopolitical power struggle, financial turmoil, revolution, war, and trade war, culminating in a global pandemic and recession. Although policy uncertainty has subsided from its 2020 peak—and investors have begun to rotate out of U.S. assets—it is not clear how much further it will subside. Geopolitical risk had pushed policy uncertainty to new highs long before COVID. Will geopolitical risk continue to decline in the aftermath of the Donald Trump presidency? If so, the global economy can recover unimpeded, and the rotation into international equities, commodities, cyclical economies, and value stocks can continue enthusiastically.
Do you want to accelerate your career? Start 2021 off right by committing to your advanced education through an Institute certification. Join Director of Programs, Mike Kurz, CIMA®, CPWA® as he delves into what the Certified Investment Management Analyst® (CIMA®) certification is all about.
Can't wait until April? Watch a recorded version now.
ACE Academy 2021
April 26-27, Livestream + On-Demand
Speaker: Andy Rothman, Winnie Chwang, John Paul Lech
As the only major economy with positive growth in 2020 according to the IMF, China is leading the way to a post-pandemic recovery. Home to some of the world’s largest equity and bond markets, Greater China now accounts for 53% of the MSCI Emerging Markets Index and continues to rise in importance within global portfolios, resulting from increasing China A-share inclusion in MSCI indices and vibrant IPO offerings. While global growth is slowing, many investors remain underexposed to the world’s second largest economy. Traditionally, investors have accessed China through global emerging markets or pan-Asian investment strategies; however, investors may want to consider a dedicated China allocation instead.
In this session, Matthews Asia Investment Strategist Andy Rothman and Portfolio Managers Winnie Chwang and John Paul Lech explore the reasons they believe investors should gain exposure to China and share their thoughts on:
• The state of China’s economic recovery and outlook
• U.S.-China relations under the Biden administration
• Investment trends and sectors for growth prospects
• Optimizing your China allocation through a broader emerging markets strategy or an all-China investment approach
New Report: Women make up 14% of all fund managers, with the U.S. lagging behind that global average
New data from Morningstar shows that the progress women are making in the asset management industry, it is not yet showing up in the ranks of portfolio managers, where the percentage of women fund managers is hovering around 14% as it has for the past two decades.
Results of a quantitative study conducted by the Options Industry Council (OIC), a service of OCC, showed that advisors have low confidence levels about using options. Using practical examples and demonstrations, this course is designed to provide advisors with fundamental knowledge about options, as well as essential skills to implement practical strategies.
This course begins with a high-level overview of alternative investments, including general characteristics of alternative investments, the categories of alternative investments, and the benefits of including alternatives in a portfolio.
The Essentials of Investment Consulting program is designed for financial service professionals and their teams seeking to enhance their fundamental knowledge of core topics related to the investment consulting process. Comprised of two courses, the Investment Consulting Process and Math for Investment Consultants, this educational primer on investment consulting uses new study techniques and tools for an enhanced learning experience.Learn More
NEW AMMO FOR THE AFFLUENT: NEXT GENERATION PRIVATE SECURITIES
A productization wave, based on major legal and market structure developments, has made private equity much more suitable and accessible for individual clients. Advisors who are fluent in the subject matter can add significant value to their clients' portfolios and their own practices.
Portfolio management is evolving quickly with advisors facing a growing range of options in how to manage assets for clients. The challenge is striking the right balance between passive vs. active management, incorporating clients’ behavioral preferences, and providing institutional-quality access to alternative investments.
INSTITUTIONAL-QUALITY, PRIVATE PORTFOLIOS FOR ACCREDITED INVESTORS—NEW PRACTICAL SOLUTIONS
Advisors to accredited investors have been challenged to build institutional-caliber portfolios of private investments for many legal and practice management reasons. Now, a new wave of products aims to change that. In this three-part workshop presented by Delaware Funds by Macquarie, join Bob Rice as he moderates a discussion among institutional fiduciaries, advisor practice experts, and product design professionals to explain the opportunity across various private markets asset classes.
This is part of the ACE Unplugged on-demand package.
Brought to you by Swan Global Investments
The 60/40 is dead. Traditional portfolio construction is ill-suited to tackle the challenges presented by historically low yields coupled with equity markets near all-time highs. Advisors are seeking other solutions to produce necessary returns and mitigate risk in order to steward investors to and through retirement. Gain practical insights on the due diligence and portfolio implementation of options and option-based strategies as one possible solution.Learn More
Noel Pacarro Brown, CIMA®, CPWA®, First Vice President at Morgan Stanley, delves into strategies for overcoming difficult and uncertain financial climates. Her insights include client communication, alignment, and understanding.Listen Now
THRIVING THROUGH THE NEW LANDSCAPE
Kevin M. Sánchez, CIMA®, CPWA®, CFP®, former Institute Board Chairman, talks about thriving despite a global pandemic and economic uncertainty. He discusses using behavioral finance tools to make his clients feel comfortable and secure, and the importance of educating clients.
From Investments & Wealth Monitor
Modern portfolio theory (MPT) assumes that investors are risk averse, meaning that given two portfolios that offer the same expected return, investors will prefer the less risky portfolio. The implication is that a rational investor will not invest in a portfolio if a second portfolio exists with a more favorable profile of risk versus expected return. MPT has a number of inherent limita-tions. This article addresses some of the limitations of MPT and evaluates alternative techniques for allocating capital.
Since 1990, nearly 20 global events have caused short-term panic and uncertainty. The COVID-19 pandemic has created significant volatility in the stock market and record low interest rates that have resulted in an income crisis as investors search for yield. Private (non-exchange traded) real estate may offer a way to shield investors from short-term stock market volatility and also generate income.
Join Black Creek Group to discuss the resilience of private real estate amidst historical global crises and how it can provide a potentially meaningful source of income for investors in a time of low yield.
THE THREE D'S YOU SHOULD WATCH IN 2021
Article from Professional Pensions
Dambisa Moyo, PhD, looks at how three prominent trends will dominate throughout the next year. By the end of 2019, a "2020 Vision" had become a well-worn cliché among those looking to the coming year.
As we know, the dominant theme of the year turned out to be a global pandemic that few, if any, had predicted, and which had a seismic impact on markets and economies around the world.
Fiduciary advisors to decamillionaires ($10 million+) and ultra-high-net-worth individuals or households ($30 million+) should have a macro view of clients’ balance sheets and use a multidisciplinary approach to address all the goals of each client simultaneously. Fiduciaries should not view clients’ specific goals in isolation, as if the goals were in silos. Advisors should consider investment income and capital gains, income taxation, asset security and preservation of purchasing power, philanthropy, and intergenerational wealth transfers in unison to achieve optimal client outcomes. This article explores the utility and potential use of an insurance dedicated fund as an essential yet underutilized investment vehicle to improve portfolios’ overall tax-efficiency.
May 24 @ 1:30 p.m. ET
Are you prepared to serve your high-net-worth (HNW) clients with the sophisticated strategies that they are seeking from their advisor? This live 30-minute webinar explores what HNW clients are looking for and how you can help them with the education you'll receive in the CPWA® certification program. Continuing Education credit (CE) is not available for this overview.
May 26 @ 11 a.m. ET
Private securities are a critically important asset that institutions and high-net-worth investors cannot afford to exclude from their portfolios. Academic and practitioner experts provide up-to-the-minute information about private equity and credit, including the impact of the pandemic on the sector. This event is designed for institutional consultants and wealth advisors to develop a competitive edge by providing access to this key market.
Registration coming soon!
Livestream + On-demand
Join us as we REDEFINE the future of the investment and wealth management industry, starting with the ways we connect and engage with each other. Join us at ACE Academy 2021, taking place April 26-27, for an opportunity to translate the latest research, insights, and ideas into actionable strategies for your clients and prospects.
Don't miss the riveting session, The Best of Both Worlds: An Introduction to Semitransparent Active ETFs.
Semitransparent active ETFs became available in March of 2020. Ed Rosenberg, Head of ETFs for American Century Investments, discusses how these offerings combine the alpha generation potential of active equities with the structural benefits of ETFs. He provides an overview of semitransparent active ETF strategies as well as the various semitransparent active structures and explains the differences of the trading mechanisms for these ETFs.
This self-paced course focuses on the specific needs of HNW clients in five core areas: tax strategies, portfolio management, asset protection and risk management, charitable giving, and estate planning. Each of these areas is examined in conjunction with the needs of three different HNW client profiles: the executive, the closely held business owner, and the retirement client.
Compelling to its core, alternative yield is an excellent option for income-oriented investors. Globally, yield is in high demand but has become increasingly risky to obtain. In alternative yield, investors can access a set of differentiated strategies that provide the dual utility of attractive risk-adjusted return and enhanced portfolio risk management.
High-net-worth clients want much more than simple investment tax-efficiency. Gain enhanced VIP access to Steve Siegel, a faculty member for the CPWA® certification at the University of Chicago and Yale University, as he provides 2021 tax insight and actionable tax strategies for HNW clients.
Raymond James’ vetted longevity solutions for longer living are distinctly unique and offer a way to drive client conversations, and their portfolios, towards a personalized outcome. How do you initiate these conversations? The most effective way to introduce these concepts is via the planning process. In this session, tune in and discover how to create a differentiated advantage by changing the conversation, provide clients with what they really want and, in the process, make your message impossible to ignore.Learn More
Garry Bridgeman, CIMA®, Co-chair of the Institute's new THRIVE Council of Ambassadors discusses the new THRIVE Center for Diversity & Inclusion and why diversity and inclusion initiatives are so important for making a change within in the industry.
Sponsored by John Hancock Investment Management
Matthew D. Miskin, CFA®, Co-Chief Investment Strategist at John Hancock Investment Management discusses the trend toward passive investing and various asset classes.
In this special episode, Noel Pacarro Brown, CIMA®, CPWA®, First Vice President at Morgan Stanley, shares her best practices for communicating with clients and aligning messaging to stay calm and positive.
Jeffrey Levine, CPA/PFS, CFP®, CWS®, MSA, the Director of Advisor Education for Kitces.com, discusses the QBI reduction of small business owners.
Michael Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, Partner and the Director of Wealth Management for Pinnacle Advisory Group, shares his strategies for dealing with Roth conversions.
Federal tax law may (or may not) change but 2021 can be a friendly tax year for wealthy clients by following familiar tactics.
The new report by Family Wealth Alliance in association with Schwab Advisor Family Office, Fees & Pricing in Family Wealth: 2020 Report, provides new insights and details to advisory fees, pricing methodologies and discounting.
The great wealth transfer is estimated to be anywhere between $30 trillion to $70 trillion and with boomers moving further into retirement the massive transfer of wealth moves closer too. What your clients need to know.
Article from the Investments & Wealth Monitor
Passing the baton in a relay race is a moment of high drama and consequence. A smooth handoff may propel a slower team to victory; a fumbled one may doom a swifter team’s chances. We think the baton handoff is a useful analogy for understanding the key challenges advisors and clients face in the years before—but especially just after—retirement. Just as in a relay race, in retirement the transition from saving (accumulation) to spending (decumulation) is critical.
To be an exceptional retirement advisor, you must consider not only the changes to a client's income as they approach or are in retirement, but also to their mindset. Join the Institute’s Chief Learning Officer, Devin Ekberg, CIMA®, CPWA®, CFA®, as he explores what makes the RMA program different and the process to achieve it in this live 30 minute webinar.
Moe Allain, RMA®, CPWA®, AAMS®, MBA, Financial Advisor for Baird Retirement Management uses the Retirement Management Advisor® Certification to bring success in providing retirement clients precisely what they need.
The Future of ETFs: Evolved. Transparent. Flexible.
ACE Academy 2021: April 25 - 27
Livestream + On-demand
The first ETFs available to investors were designed to track the performance of indices. While index-based ETFs continue to be popular with investors due to generally low costs, broad diversification, low turnover, and transparent construction, the mechanical construction and rigid trading requirements of index funds reduce their ability to efficiently capture the returns of different asset classes. In contrast, actively managed ETFs aim to provide the same benefits of index-based approaches while also providing additional value through flexible, active implementation.
It was meant for times like these too. The RMA® education addresses real-time retiree challenges. Our faculty bring relevant client challenges of today to the table. They share techniques and provide you with tips, tricks and ideas to keep your clients who are in retirement on track with their life-long goals. Address today’s retiree challenges with actionable ideas and strategies in less than 3-months.
25 CE Credits.
University of Toronto Professor Michelle Silver invites you to rethink your perceptions about aging and retirement. She discusses retirement from its early policy roots to the social phenomena it has become with a focus on implications for people whose personal identity has always been closely intertwined with their work. 1 CE Credit.
Joe Coughlin, Marc Milstein, Bob Mauterstock, and Peter Conti-Brown take on the most prevalent retirement planning issues in our world today. Learn from the experts when it comes to holistic, multidisciplinary planning for all members of a household. Whether you’re part of the Institute’s Retirement Management Advisor® program, or simply looking for a better way to support your retirement clients, these are the on-demand recordings for you. 4 CE Credits.
Life expectancy has increased dramatically over the past century and it is one of the most important variables in financial planning. For retirement planning purposes, it’s critical to predict one’s life expectancy during retirement. How long a client will live and at what age they will retire are two key factors in determining a client's financial plans. Tune in as retirement experts Robert Powell and Shelly Giordano delve into practical takeaways to discuss with clients how to best prepare for the future. 1 CE Credit.
Retirement planning must be a client-centric process and address the unique mindsets retirees face as they transition from accumulation to decumulation. Drawn from the RMA® curriculum, this event highlights practical frameworks for developing a Household Balancesheet™ as the center of a financial plan, mitigating retirement risk, and goals-based portfolio construction.
Ep. 40: Larry Jacobson, Retirement Planner and award-winning author, discusses his award-winning coaching program specifically designed to help your clients find, develop, and follow their passion as they move into retirement.
Retirees who saved a good portion of their earnings during their working years, accumulated a sizeable nest egg, and
allocated their assets in a way that matched their risk profile and supported their future spending needs should feel
confident about their ability to enjoy a long, happy retirement—or should they?
Advisors almost universally agree that those saving for retirement or living in retirement have a seemingly endless number of similar needs. Learn from Robert J. Powell how the RMA Certification helps advisors solve for client needs.
"The financial planning industry has been saying this for decades … we are unprepared. On so many levels, people everywhere, particularly in America, are not thinking enough, saving enough, or understanding enough, about retirement."
"A recent report from Fidelity shows that 23.2% of baby boomers in a defined contribution plan have too much exposure to high-risk investments. And that, in turn, could open the door to serious losses that these savers may never recover from."Read More
"On the website of the interest group that represents American retirees, there’s palpable concern about the future. The vast majority of Americans haven’t saved enough in their retirement accounts to cover their expenses after they finish working. Rising health-care costs and increasing life expectancies only aggravate the problem. And the state pension is a hot political issue. Exactly one month after the US Presidential election, Representative Sam Johnson introduced a bill that would address a looming shortfall in Social Security, the massive federal pension program, by cutting benefits..."Read More
Advisors and their clients can make retirement surprises more manageable by deliberately planning for the unexpected and documenting the strategies. It is up to you as the advisor to get to the root of those fears and help clients find a way to discuss and manage the related financial issues. Sometimes, particularly for clients who are good savers, it is in the form of reassurance that they can afford what they have been longing to do. In other circumstances, it can be breaking the tough news that work may need to continue, either full- or part-time, for longer than initially thought.
Sponsored by PIMCO, DPL Financial Partners and New York Life Insurance Company
Many retirees require a goals-based planning approach, particularly when generating a consistent and sustainable income stream in retirement. As clients transition from accumulation to decumulation, advisors are turning to flexible solutions to deliver a certain level of consistent income to meet clients' needs in the current low-yield environment. This program will introduce you to strategies and considerations for creating holistic, goals-based retirement income plans for your clients. 4 CE Credits.
Nick Halen, Corporate Vice President at New York Life Insurance Company, discusses retirement income strategies during an economic crisis. This podcast is sponsored by New York Life.
Dana Anspach, CFP®, RMA®, founder of Sensible Money, LLC, a fee-only registered investment advisory firm, discusses the value of the RMA certification and how it prepared her for the current economic crisis.
Center for RIA Excellence
ACE ACADEMY 2021
April 25 - 27
Livestream + On-demand
Join us as we REDEFINE the future of the practice, investment, and wealth management industry, starting with the ways we connect and engage with each other. Join us at ACE Academy 2021, taking place April 25-27, for an opportunity to translate the latest research, insights and ideas into actionable strategies for your clients and prospects.
WHAT ADVISORS NEED TO KNOW ABOUT TECHNOLOGY TRENDS
From Investments & Wealth Research
Cerulli Associates examines the implications of the growing use of technology in advisor practices. To do this, a proprietary scoring system was used to group practices based on their reported use of technology across various categories, adjusting for practices that continually upgrade their technology. This allows Cerulli Associates to determine the impact of technology on advisor productivity and processes, identify key practice attributes of high versus low adopters, and uncover barriers to increasing adoption.
EXCEPTIONAL ADVISOR®: COMMUNICATE YOUR VALUE & BUILD CLIENT ENGAGEMENT
In this online course, participants will learn how to communicate the value of their ethics and expertise to clients based on research by AbsoluteEngagement.com. Discover the characteristics of an Exceptional Advisor®, and learn how to develop communication and action plans designed to: better understand what clients consider important, provide meaningful guidance, demonstrate advanced knowledge through your credentials, and highlight your commitment to ethics by leveraging the Investments & Wealth Institute® Code of Professional Responsibility.
APPLIED BEHAVIORAL FINANCE
No matter what’s happening with interest rates or whether the market is up or down, behavioral finance affects us all—client and advisor alike. Understanding that we’re subject to the forces of behavioral finance and how to work with those forces to clients’ advantage can greatly enhance the advisor-client relationship.
Why did your competition land that endowments and foundations client and not you? Learn the unique dynamics of advising nonprofit clients, the key principles of successful consulting and investment management, and best practices for maintaining rewarding relationships.
The value of professional financial advice has evolved from portfolios to people. In today’s health and financial crisis, the ability to add value is needed more than ever. These recorded sessions feature concepts aimed to help you foster trust, cultivate long-term relationships, and build a sustainable, successful practice. Join as our experts discuss the research behind advisor alpha and practical ways to deliver it during the COVID-19 crisis, and after.
Are HNW women investors less risk-tolerant? Are their goals and needs really that different from their executive male counterparts? Join Laura Gregg, Director of Practice Management and Advisor Research at FlexShares Exchange Traded Funds, managed by Northern Trust, to learn both new findings of gender differences in HNW executives and how you can apply the research to adjust your approach and achieve better client outcomes.
Cynthia Pagliaro, Senior Research Analyst at Vanguard, speaks about assessing the value of advice, including, but not limited to developing metrics to measure the monetary value of advice, including emotional value.Listen Now
Duane Thompson talks about Regulation Best Interest, a new ruling made by the SEC. He reviews the ruling, which was designed to enhance investor understanding of what advisors do, at a high level.Listen Now
Articles, White Papers and Blogs
Sponsored by Allianz Life Insurance Company of North America (Allianz)
Allianz has committed dedicated resources and are invested in helping RIAs integrate risk management solutions as a part of a comprehensive wealth management practice.Learn More
From the Investments & Wealth Monitor
Despite the pervasiveness of the "past performance is no guarantee of future results" disclaimer and decades of research that supports it, many investors often behave as though past performance does predict the future. As a result, they allow recent performance to shape their expectations of future asset class returns and make a similar error when evaluating active investment managers.Read More
WITH TIME RUNNING OUT ON PPP LOANS, WHAT OTHER OPTIONS DO RIAS HAVE?
Although time is running out for RIAs who may still want to apply for a Small Business Administration loan through the Paycheck Protection Program (PPP), according to DeVoe & Co. and Live Oak Bank executives there are other options available.Read More
The research explores how advisors can stand out in a crowded market, where high levels of client satisfaction and loyalty are not enough to set them apart. The study also examines how articulating the value of advanced credentials can provide meaningful differentiation among discerning high-net-worth investors.Read More
Many experts agree that meaningful and valuable training increases morale and has a significant impact on the productivity of their advisors. In fact, the research group Gallup, found that one of the most important factors in creating a “high-performance workplace” is creating a culture that values the growth of individuals.Read More
LICENSURE VS. CERTIFICATION
There are distinct differences between governmental licensure and certification, both of which set standards for an industry. Licensure is mandatorily required to practice in the area requiring it, whereas certifications are voluntary. Each plays an essential role in establishing a more competent and ethical profession, and each plays a role in benefiting the consumer.Read More
Continuing education is necessary for our industry and for financial advice professionals to stay current with the latest developments, skills, and new technologies. This blog, from the Institute's Chairman and CEO Sean Walters, explores this concept.Read More
There’s no shortage of free information out there. It’s everywhere you turn these days—social platforms, data, products, education, news, content. But if the content is free, you become the product. Learn more from the Institute's Chief Learning Officer Devin Ekberg, CFA®, CIMA®, CPWA®.Read More
With recent volatility associated with the coronavirus, it’s worth revisiting how we can help clients in navigating these turbulent times. The temptation for many investors is to go to the sidelines when things get difficult. But fear is not a strategy—it’s an irrational reaction to uncertainty.
Article from Investments & Wealth Monitor
Trust persists as a pivotal factor in client behavior. Without it, clients can veer off course, lowering the likelihood of achieving their goals. We acknowledge that human behavior is often at odds with achieving financial goals, particularly in volatile markets. In this article, we examine how the co-planning process can enhance the client experience and increase your value in your clients’ eyes. By combining the core tenets of traditional, advisor-driven wealth management with behavioral finance, we discuss how you can deepen relationships and construct investment solutions that are aligned more closely with client goals.
Article from Investments & Wealth Monitor
Understanding behavioral finance and biases may enhance an advisor’s knowledge, but it is only a first step in mitigating the impact on an investor’s experience. Advisors who implement effective behavioral coaching through framing and communication techniques that connect with clients’ unique perspectives can help to improve clients’ overall experience. Behavioral coaching best practices, combined with several of the practical tactics offered here, also can help advisors to provide unique value to their clients and help them to differentiate their practices from other advisors. Ultimately, each advisor must determine how to best apply behavioral guidance to effectively narrow the behavior gap and help clients select an acceptable investment approach to earn the returns required to achieve their unique objectives.
MANAGING RISK WITHIN YOUR PRACTICE
Jean-Roch Sibille, SVP Chief Risk Officer of Allianz Life of North America
ACE Academy Masterclass
Livestream + On-demand
During this ACE Academy Masterclass, Jean-Roch Sibille, SVP Chief Risk Officer of Allianz Life of North America, will use examples of risks often over-looked by business owners, such as operational or reputational, and how they have increased as a result of the pandemic, to demonstrate the importance of the risk culture in all businesses. He will also provide ideas of how to start building the risk culture with different levels of time and resources.
THE EXCEPTIONAL ADVISOR TOOLKIT
The Exceptional Advisor® program is born out of research conducted by the Institute and AbsoluteEngagement.com. The research shows that clients value an advisor who demonstrates advanced capabilities, exceptional service, a personalized approach, and meaningful guidance. All this is built on the pillars of adherence to high ethical standards and expertise in the field. This model depicts the core competencies of an Exceptional Advisor.
BEING LIMITLESS: HOW NEUROSCIENCE RESEARCH CAN MAXIMIZE OUR APPROACH TO NUMBERS AND LIFE
Jo Boaler, PhD, Nomellini & Olivier Professor of Education, Stanford University
ACE Academy Masterclass
Livestream + On-demand
Recent years have seen an explosion of scientific evidence showing that there is a different way to learn, lead, and live. When people take a limitless approach to learning and leading, different pathways open up. Mindset messages are important but they do not take root unless they are accompanied by a different approach to knowledge and interactions.
Join Jo Boaler, PhD during this ACE Academy session for a consideration of what this different approach is, particularly in relation to quantitative knowledge. We will think together about ways to learn, lead and live without barriers.
Whether your expertise is in wealth management, retirement, or portfolio construction, it’s important to turn the theoretical into the practical to become a successful behavioral advisor. Learn real-world advisors' best practices for incorporating behavioral science into their practices from a panel of practitioners.
1 Hour of CE Credit Available.Learn More
The statistics are staggering: 47 million people have dementia worldwide, and that number is expected to skyrocket to 115 million people by 2050. Recent studies estimate that about a third of dementia is preventable if actionable steps are taken. But what kind of actions? There is so much more to keeping your brain in tip-top-shape and lowering your risk for dementia than crossword puzzles, brain games and Sudoku. Breakthrough research is uncovering the surprising, key actionable steps to boost your brain and keep it working better, longer. Hear the scoop on scientifically valid, actionable tips to optimize your brain health and what is just myth, hype and marketing.
1 Hour of CE Credit Available.
In the investing world, not acting on emotion is paramount. Overconfident investors overestimate their capabilities, eternal optimists underestimate risk, and investors with familiarity bias consistently trade in the securities with which they are familiar - often to the detriment of returns. Applied Behavioral Finance gives advisors the tools to understand and properly navigate their clients' roller coaster of emotions and unspoken biases toward investing, as well as their own.Learn More
Listen to Omar Aguilar, Senior Vice President and Chief Investment Officer, Equities and Multi-asset Strategies behavioral finance, Charles Schwab Investment Management, as he talks about the latest BeFi research.Listen Now
Noel Pacarro Brown, CIMA®, CPWA®, First Vice President at Morgan Stanley, talks about leading and learning through uncertain times. Her best practices including client communication, alignment, and more.Listen Now
Larry Siegel, author of Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance, discusses the future outlook of the world. In his view, based on UN future-casting, he predicts a world with a smaller population starting in 2070, and resulting in more wealth and environmental advancements.Listen Now
Don Trone, L5, Co-Founder & CEO of 3ethos; Director of Behavioral Governance Society, dives into these different roles. He discusses the interrelationship between five qualities: resilience, sense of purpose, core values, passion, and process.Listen Now
Eben Burr, Managing Director & Behavioral Finance Educator at Toews Corporation, talks about strategies for growth including training, coaching, and practical ways for applying BeFi techniques into every day processes.
Your Investments & Wealth Institute certification differentiates you from other advisors, but are your prospective and current clients aware? Discover the characteristics of an exceptional advisor by uncovering and understanding the traits that clients consider important. Use the tools provided in the course to write plans for better communicating your value.Learn More
Financial planning may be valuable for clients, but it's time-consuming to deliver as a financial advisor, which impacts everything from the price that advisors charge for a financial plan, to the breadth of clients that can be served, and the staffing and technology infrastructure to deliver financial planning advice. In this session, we explore the latest Kitces Research study on "How Financial Advisors Really Do Financial Planning", to understand how long it really takes to create and deliver a financial plan, where time-savings opportunities are (or are not), the role of staff support in scaling financial advice, how technology impacts planning efficiencies, and the interaction between planning expertise, experience, and niche specializations, in making the delivery of financial planning more efficient.
Article from Investments & Wealth Monitor
This article investigates the financial attitudes and behaviors of Generation Z, defined here as persons born between 1995 and 2010. Older members of Generation Z are either currently entering or recently have entered the workforce, yet very little is known about the financial landscape of the newest generation of professionals. This knowledge gap begets challenges for advisors and other financial professionals in helping young adults and children of current clients as they begin their financial journeys.Read More
2020 served as a new Renaissance for learning & development. But like all periods of great expansion, there are opportunists whose efforts degrade the field, rather than improve it. This article is part one of three series that addresses best practices if you are developing and delivering credentialed solutions for professionals, and what to watch for if you are seeking professional development.Read More
Continuing education is necessary for our industry and for financial advice professional to stay current with the latest developments, skills, and new technologies. Not only that, studies have shown that continuing education can boost confidence and lead to opportunities for career advancement. Read more from Sean R. Walters, CAE®, Chief Executive Officer, Investments & Wealth Institute.Read More
This blog captures the latest takeaways from Mitigating the Impact of Advisors’ Behavioral Biases report. This report shows advisors how they can improve their portfolio construction and management processes by acknowledging their own biases and develop safeguards to prevent costly mistakes.Read More
This blog summarizes the BeFi Barometer 2020 findings. This recently released report, from the Investments & Wealth Institute and in collaboration with Charles Schwab Investment Management, Inc. and Cerulli Associates, explores the implications of behavioral biases and the impact they can have on both clients and advisors alike.Read More
Much of traditional financial theory is based on the assumptions that individuals act rationally and consider all available information in the decision-making process and that markets are efficient. This blog explores how behavioral finance challenges these assumptions and explores how individuals and markets actually behave.Read More
Article from Investments & Wealth Monitor
Investors tackle the saving and spending task with the mental tools of framing, mental accounting and self-control. They frame their money into distinct mental accounts, mainly "capital" and "income," and set self-control rules of saving and spending. Advisors can initiate conversations with their clients about giving with a warm hand but noting the obvious...
Today’s advisor needs to be well-versed in ways biases can impact their clients and create portfolios that fall in line with what is known about behavioral economics. This blog explores the top tips for portfolio construction.
Even though groups are often derided as being the quickest route to stalemate and inaction, we keep forming them to solve problems in all facets of our lives. Herman Brodie's session on group bias is recapped in this blog.
WHEN IT COMES TO EMPOWERING WOMEN, WE NEED TO ASK THE RIGHT QUESTIONS
By Ann Senne, Head, Advice Solutions Group at RBC Wealth Management
It’s amazing what happens when a group of dedicated, engaged employees get together and start asking “What if?”
That’s exactly what happened more than a year ago when a group of our firm’s high-potential women, who were tapped to participate in a brand-new women’s leadership program funded by my firm, started spending regular time together.
DIVERSITY IS GOOD BUSINESS FOR ADVISORY FIRMS
From FlexShares / Northern Trust
FlexShares’ study on financial advisors’ diversity perspectives and practices identified numerous benefits for firms that position themselves for shifting demographic tides. But it also found that many firms—particularly smaller ones—may be missing the boat.
From FlexShares / Northern Trust
U.S. demographics are changing and the country is expected to be a minority/majority population by 2045. Yet the majority of financial advisors are still overwhelmingly white, male, and shrinking in numbers. With many firms having difficulty in recruiting, hiring, and retaining young and diverse talent, FlexShares conducted a research study in late 2019 to see where firms are struggling and where they are having success in building diverse teams.
Dambisa Moyo, PhD
Global Economist, Author, Speaker, New York Times Best-Selling Author
ACE Academy General Session
Livestream + On-demand
Even before the 2020 global pandemic hit the world in earnest, the global economy was in a precarious place. Dambisa Moyo will chart the five key macroeconomic and geopolitical trends that will dominate the post-COVID era, with a focus on investable ideas and opportunities for returns in the coming challenging world.
Join us at ACE Academy 2021, taking place April 25-27, for an opportunity to translate the latest research, insights, and ideas into actionable strategies for your clients and prospects. Topics include the latest in BeFi research, wealth management, investment management, and retirement management.
Brought to you by CFP Board
It is imperative that the financial planning profession work toward expanding and diversifying the ranks of its professionals who can meet the needs of increasingly diverse consumers, especially as consumer demand for financial advice grows amid the pandemic. As racial inequities are being exacerbated by the pandemic and the United States is in the midst of a racial reckoning, we must ask ourselves what we can do as individuals, as
firms, and as a profession to advance a more inclusive and diverse society. Therefore, this publication serves two purposes: to showcase the work being done across the financial planning profession and to deliver scalable insights for readers to replicate.
Women in financial services represent less than 17% of the industry population. Listen in on a candid conversation among four female top performers as they discuss how to re-brand the industry, making it more attractive for women, and how they are addressing today's challenges and beyond.Learn More
LONG-TERM IMPLICATIONS OF COVID-19: WOMEN IN WEALTH PERSPECTIVES
The long-term effects of COVID-19 on the advice industry are both wide-reaching and profound. Learn how industry leaders are developing new strategies to add significant value in the face of these challenges.
The objective of the Investments & Wealth Institute Certification Scholarship Fund is to promote diversity and grow the number of certified professionals who currently are underrepresented in the profession thereby enhancing the competency and professionalism of advice delivered to the public.
Learn about the impact the scholarships have made in the first six months of the program.
Desiree Maldonado, Financial Consultant at Popular Securities, LLC, talks about advising in turbulent times. Her experiences include adjusting to working from home, understanding and adopting new technologies, and more.
Frederick Hertz, JD, attorney and mediator at the law and mediation offices of Frederick Hertz, talks about how advisors can meet the unique needs of LGBTQ clients.Listen Now
Michael Falk, CFA®, CRC, partner at Focus Consulting Group, discusses creating and maintaining client connections virtually. The work hasn't changed, Falk explains, the connection point has.Listen Now
Kate Healy, Managing Director, Generation Next, TD Ameritrade Institutional, dives into how to be more visible in the financial industry —a Women in Wealth Perspective. Her insights include encouraging women in the industry to talk about what they do to their friends, community, local schools, and more.Listen Now
Articles, White Papers and Blogs
DRIVING DIVERSITY IN THE BOARDROOM
From RBC Wealth Management
As countries, companies and investors around the world look ahead to the New Year, they do so with a near-universal desire to close the door on 2020 and never look back.
It was a year marked by a global pandemic and a public reckoning with systemic racism that sparked protests and riots in cities across the world. It was a year in which women in the U.S. lost a decade of economic gains because of the pandemic's disproportionate impact on the industries in which they work or own businesses.
AS WOMEN AGE WITH LONGEVITY ON THEIR SIDE, THE FINANCIAL FUTURE IS FEMALE
From RBC Wealth Management
It won’t be Millennial CEOs or Gen Z entrepreneurs who wield the most financial power in the coming decades—it will be the wave of Baby Boomer women.
Nearly 100 million Americans will be 65 and older by 2060, and more of them will be women as they live five years longer than their partners on average, and continue to age into their 80s and 90s.
WOMEN'S FINANCIAL CONFIDENCE 100 YEARS AFTER THE RIGHT TO VOTE
From RBC Wealth Management
2020 marks the 100th anniversary of the 19th amendment, the landmark change to the U.S. Constitution that granted women the right to vote. The amendment was the result of tireless activism by women like Elizabeth Cady Stanton, Lucretia Mott and Susan B. Anthony – names now synonymous with the women’s rights movement.
But the passage of the amendment holds more than just political importance; it was a moment that has rippled outwards over the past 100 years, allowing successive generations of women to obtain more education, fight for higher wages, accumulate greater personal wealth and move closer to equality.Read More
THE FUTURE OF WEALTH IS FEMALE
Over the next decade, a historical wealth transfer awaits the financial advice industry. The result: a future of wealth that is decidedly female. As women outlive their spouses and partners, females could possess as much
as $30 trillion in financial assets by 2030. And this is only the beginning.
For more on working with female clients, please visit the Transamerica Women and Investing resource page.
The Institute’s Devon Coquillard, Communications Manager, sat down with Dorothy Bossung, CFP®, CIMA®, CPWA®, RMA® to discuss Dorothy’s success within a male-dominated industry and how to light a path for others.Read More
From Cerulli Associates
Despite heightened attention on diversity, equity, and inclusion (DEI), women and Black, Indigenous, and People of Color (BIPOC) remain vastly underrepresented among financial advisors, according to "The Cerulli Report—U.S. Advisor Metrics 2020." The research finds that women represent 18.1 percent of total financial advisor headcount, which equates to a 2.4-percentage-point increase from 15.7 percent in 2015. Additionally, only 2.9 percent of advisors identify as Black or African American, 5.1 percent as Hispanic or Latino, and 4.3 percent as Asian.Read More
DEFINING THE FUTURE OF WEALTH MANAGEMENT
The wealth management profession is transforming at a rapid pace because of many factors. Regulations, competition from new business models, and advances in technology are driving the way we do business and expeditiously changing the delivery of advice to meet client expectations.
A lack of financial inclusion for Black Americans exists at every level of the financial system. Understanding the sources of exclusion is the first step to fixing the system.
WOMEN IN FINANCIAL SERVICES 2020 REPORT RELEASED
The latest "Women in Financial Services Report" by Oliver Wyman shows that progress is being made, though there is still work to do.
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