Archive for December, 2013

Wealth Management News – December 31


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Tuesday, December 31st, 2013 EN No Comments

Independent Wealth Advice

Hosts: Matthew Poole, CFP® and Dustin TenBroeck, CFP®

Web:  independentwealthadvice.com/our-advisors

Heard on 760KFMB: Saturdays from 5pm – 6pm

Show Info: Matthew Poole, CFP® and Dustin TenBroeck, CFP® have been working together for the last decade and are extremely dedicated to what they do. They co-founded Presidio Capital Management which is an independent wealth management firm based in San Diego, CA. The firm offers comprehensive financial advice to individuals and businesses throughout the country in the areas of investment management, financial, tax estate planning. PCM is owned and operated by three CERTIFIED FINANCIAL PLANNER™ Professionals who together possess over 40 years of planning experience. Their areas of specialized knowledge include:

  • Creating dynamic income models for clients near or in retirement that strategically generate inflation adjusted income while reducing risk in their portfolios and protecting their estate’s value.
  • Delivering customized wealth management solutions to Business Owners and Medical Professionals through an integrated planning protocol designed to simplify and leverage their financial management needs. These services include the review of entity structure, tax management strategies, pension and benefits design, investment and risk management, spending patterns, and estate protection.

In addition to their weekly radio broadcast, Matthew and Dustin host numerous financial seminars and retirement classes at local community college campuses.

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Monday, December 30th, 2013 EN No Comments

Wealth Management News – December 30

Tue Dec 31, 2013 2:53am IST

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Monday, December 30th, 2013 EN No Comments

Protecting Clients’ Digital Assets

Trusts and Estates’ readers keep up-to-the-minute on the best ways for clients to create, protect and transfer wealth. Yet, many advisors pay scant attention to an ubiquitous and often valuable property interest—digital assets.
Most state laws governing the actions of fiduciaries fail to mention or differentiate digital from non-digital assets. Most agreements governing online accounts ignore death and incapacity altogether, or worse, provide for automatic account termination if …

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Monday, December 30th, 2013 EN No Comments

Firm shortlisted

Canaccord Genuity Wealth Management has been shortlisted in the Investment Management Company of the Year Isle of Man category for the 2014 Citywealth International Financial Centre Awards.

The awards were established to highlight the excellence of the advisors and managers in the private wealth sector in the major international financial centres. The awards will be judged by an international panel of practitioners from all sectors with experience of working with advisors in all the jurisdictions covered.

The awards, which are in their third year, cover a number of jurisdictions including the Isle of Man, the Caribbean, Channel Islands, Gibraltar, Hong Kong, Luxembourg, Singapore and Switzerland.

The Isle of Man Investment Management Company award is a new category for 2014.

‘It is a great achievement to be shortlisted,’ said Dermot Hamill, head of wealth management at Canaccord Genuity Wealth Management in the Isle of Man.

‘These awards are important as they highlight the expertise and services of the short-listed companies and, in part, the awards are voted for by our clients.’

Online voting for the Citywealth International Financial Centre Awards closes on January. Visit this site to register your vote: citywealthmag.com/international-financial-centre-awards-registration

The winners will be announced at a dinner at the Millennium Hotel in London on January 23.

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Monday, December 30th, 2013 EN No Comments

Wells Fargo, BofA hunt talent to serve wealthy



Brian Moynihan, CEO at Bank of America

Brian Moynihan, CEO at Bank of America






Mark Calvey
Senior Reporter- San Francisco Business Times

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Wells Fargo and Bank of America are eager to expand their wealth management and brokerage businesses, but experienced talent isn’t always easy to find.

At Wells Fargo, one of the biggest challenges has been to find candidates to add 2,000 financial advisers at its branches, according to RBC Capital banking analyst Joe Morford in San Francisco. He recently met with David Carroll, who heads Wells Fargo’s wealth management, and John Thiel, who heads the wealth management division at Bank of America.

Bloomberg reported last month that Mary Mack, Wells Fargo’s new brokerage chief, wants the bank’s financial advisers to put more of their clients’ assets into managed accounts rather than picking individual securities. She sees increased client loyalty to the bank, especially if an adviser leaves, as one benefit for the shift in focus. Under the new strategy, brokers offer guidance on choosing investment managers rather than on individual stocks and bonds.

Wells Fargo, (NYSE: WFC) led by Chairman and CEO John Stumpf, serves 5.2 million households that hold an estimated $1.7 trillion in investment assets at other firms. Only one-fourth of clients within Wells Fargo’s wealth brokerage and retirement businesses have consumer loans with Wells.

“Increasing these penetration rates by just 5 percent could potentially add over $1 billion in annual revenues,” Morford told clients this week.

Perhaps reflecting investor uncertainty amid the low-rate environment, clients with Wells Fargo’s wealth, brokerage and retirement businesses are holding more than 35 percent of their assets in cash.

In the third quarter, Wells Fargo’s wealth, brokerage and retirement businesses accounted for 16 percent of the bank’s revenue and 8 percent of its earnings.

Mark Calvey covers banking and finance for the San Francisco Business Times.


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Monday, December 30th, 2013 EN No Comments

Comprehensive planning on the rise: US survey

A US-based survey has found the number of investors that believe a “comprehensive financial plan” is a key component of wealth management is on the rise.

US market research firm Spectrem Group surveyed more than 1,000 US investors online in 2013 – in combination with face to face interviews and focus groups with investors in New York, Denver and Tampa – and found some interesting statistics about perceptions of wealth management services.

The survey found that the “percent of investors who believe a ‘comprehensive financial plan’ is a key component of wealth management services has jumped 6 percentage points to 84 per cent over the past five years, according to the results published in US trade publication Financial Planning.

The survey also found a gender divide, with 70 per cent of male investors indicating they are familiar with the term “wealth management” while only 63 per cent of female investors responded thus.

In addition, the survey gave a glimpse into where American investors are receiving professional advice services from, with 45 per cent indicating they obtain wealth management services from a “financial planning firm or a brokerage firm” with others listing banks, mutual funds and accountants.

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Sunday, December 29th, 2013 EN No Comments

BUSINESS: Edward Jones services receives top-ranking in national survey

Heritagewest News





For the 19th time, the financial services firm Edward Jones ranked No. 1 in WealthManagement.com/REP. magazine’s annual survey of the nation’s six largest financial services firms, according to Jody Flowers, an Edward Jones financial advisor in Manchester.

The magazine randomly selects financial advisors nationwide and asks them to rank their firms in various categories.

Edward Jones’ overall score was 9.5 out of 10 possible points. The firm scored top marks across the board, earning near perfect scores in overall ethics (9.8) and public image (9.7), according to WealthManagement.com.

“This honor is a testament to the enduring strength of our firm values, our trade offs and our partnership,” said Flowers. “We are guided by a clear mission to serve the serious, long-term individual investor and to provide the best career-long opportunity for financial advisors who take pride in their work and appreciate the importance of the work we do.”

Edward Jones financial advisors gave the firm some of the highest scores in the technology and training category, scoring high above the other five firms in every sub-category which includes the quality of technology, clarity and online access of client account statements and ongoing training.

According to WealthManagement.com, between Oct. 7 and Nov. 7, 2013, invitations were emailed to print subscribers and advisors from various firms in the Meridian-AIQ database requesting participation in an online survey. By Nov. 7, 2,333 completed responses were received. Financial Advisors rated their current employers on 33 items related to their satisfaction. Ratings are based on a 1-to-10 scale, with 10 representing the highest satisfaction level.

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work.

The firm’s 12,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals – from college savings to retirement – and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

Headquartered in St. Louis, Edward Jones ranked No. 8 overall in FORTUNE magazine’s 2013 100 Best Companies to Work For ranking. Visit our website at edwardjones.com and our recruiting website at www.careers.edwardjones.com. Follow us on Twitter @EdwardJones. Member SIPC. FORTUNE and Time Inc. are not affiliated with and do not endorse Edward Jones products or services.

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For the 19th time, the financial services firm Edward Jones ranked No. 1 in WealthManagement.com/REP. magazine’s annual survey of the nation’s six largest financial services firms, according to Jody Flowers, an Edward Jones financial advisor in Manchester.

The magazine randomly selects financial advisors nationwide and asks them to rank their firms in various categories.

Edward Jones’ overall score was 9.5 out of 10 possible points. The firm scored top marks across the board, earning near perfect scores in overall ethics (9.8) and public image (9.7), according to WealthManagement.com.

“This honor is a testament to the enduring strength of our firm values, our trade offs and our partnership,” said Flowers. “We are guided by a clear mission to serve the serious, long-term individual investor and to provide the best career-long opportunity for financial advisors who take pride in their work and appreciate the importance of the work we do.”

Edward Jones financial advisors gave the firm some of the highest scores in the technology and training category, scoring high above the other five firms in every sub-category which includes the quality of technology, clarity and online access of client account statements and ongoing training.

According to WealthManagement.com, between Oct. 7 and Nov. 7, 2013, invitations were emailed to print subscribers and advisors from various firms in the Meridian-AIQ database requesting participation in an online survey. By Nov. 7, 2,333 completed responses were received. Financial Advisors rated their current employers on 33 items related to their satisfaction. Ratings are based on a 1-to-10 scale, with 10 representing the highest satisfaction level.

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work.

The firm’s 12,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals – from college savings to retirement – and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

Headquartered in St. Louis, Edward Jones ranked No. 8 overall in FORTUNE magazine’s 2013 100 Best Companies to Work For ranking. Visit our website at edwardjones.com and our recruiting website at www.careers.edwardjones.com. Follow us on Twitter @EdwardJones. Member SIPC. FORTUNE and Time Inc. are not affiliated with and do not endorse Edward Jones products or services.

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Sunday, December 29th, 2013 EN No Comments

EIIB-Rasmala increases shareholding in asset management subsidiary

This move to further increase its shareholding follows the successful acquisition and integration of Rasmala, which was initially structured as a minority investment and was later increased to 57 per cent.

In consideration for the acquisition the Group has issued 152,308,735 new shares at an exchange ratio of 3.6.

Zak Hydari, Chief Executive of EIIB-Rasmala, said: “We have now successfully combined the strengths and resources of the two separate businesses to position EIIB-Rasmala as a leading investment banking and asset management group focused on the London and GCC markets. This highly complementary combination has also catapulted us into the top 20 asset managers in the Middle East region. We believe the time is now right to further consolidate the ownership of our fast growing asset management business.”

EIIB-Rasmala has rapidly expanded its institutional asset management business over the last 12 months with funds under management having recently exceeded the $1 billion mark. The Group has also significantly broadened its asset management product offering during 2013 with the launch of a number of new funds including; the Rasmala Trade Finance Fund, the Rasmala Global Sukuk Fund, the Rasmala Leasing Fund and the Rasmala GCC Islamic Equity Income Fund.

EIIB-Rasmala was recently included in the “Middle East’s Top 20 Money Managers” by Institutional Investor magazine. The Group was also ranked fourth in the United Arab Emirates in terms of total assets under management.

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Sunday, December 29th, 2013 EN No Comments

Amyris Hits Milestone, Raises Money from Temasek

On December 24th, Emeryville-based Amyris Inc., a renewable products company, announced an agreement to sell senior convertible promissory notes in a private placement to Singapore’s sovereign wealth fund Temasek Holdings for US$ 25 million. The chemical and fuels company also sold an additional US$ 3 million to investors associated with Wolverine Asset Management (WAM), an alternative asset management firm that specializes in convertible arbitrage. WAM is headquartered in Chicago, Illinois.

The closing of the placement, which is expected around January 15 of 2014, is the second in a two round convertible note placement. Amyris announced in September that stockholders approved an offer up to US$ 110 million in senior convertible notes in two tranches, according to a press release issued by Amyris. The first closed on October 16. Temasek was part of a group of investors included in US$ 51.8 million issuance.

The latest issuance arose after Amyris completed “certain milestones” relating to “production metrics associate with Amyris’ production facility located in Brotas, Brazil, and completion of agreements related to Amyris’s fuels joint venture with Total,” Amyris said in a statement.[Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view site content.]


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Sunday, December 29th, 2013 EN No Comments