EN

NFP to Host Fourth Quarter 2015 Earnings Call on Feb. 12, 2016

NEW YORK–(Business Wire)–NFP, a leading insurance broker and consultant that provides employee
benefits, property casualty, retirement, and individual insurance and
wealth management solutions, will post its fourth quarter 2015 earnings
results the evening of Feb. 11, 2016, to a password-protected website
hosted by www.intralinks.com.
In addition, NFP will host a live conference call to discuss the fourth
quarter results on Feb. 12, 2016, at 9:30 a.m. ET.

Interested parties can request access to NFP earnings results and the
conference call by contacting NFP at ir@nfp.com
or 212-301-1088.

About NFP

At NFP Corp., our solutions and expertise are matched only by our
personal commitment to each client’s goals. We’re a leading insurance
broker and consultant that provides employee benefits, property
casualty, retirement, and individual insurance and wealth management
solutions through our licensed subsidiaries and affiliates. Our
registered investment advisers and broker-dealers empower
independent financial advisors with integrated technology, subject
matter expertise and a suite of customized services.

NFP has more than 3,600 employees and global capabilities. Our expansive
reach gives us access to highly rated insurers, vendors and financial
institutions in the industry, while our locally based employees tailor
each solution to meet our clients’ needs. We’ve become one of the
largest insurance brokerage, consulting and wealth management firms by
building enduring relationships with our clients and helping them
realize their goals.

Recently NFP was ranked by Business Insurance as the
5th largest global benefits broker by revenue, the 4th largest US-based
privately owned broker and the 11th largest broker of US business. In
addition, PlanSponsor named us the 5th largest executive benefits
provider of nonqualified deferred compensation by number of plans, and
we were ranked 11th in personal lines PC revenue by Insurance
Journal
. Our independent broker-dealer ranked 10th in annual revenue
by Investment Advisor, and Rep ranked it the 6th
highest in advisor production by assets under management.

For more information, visit www.nfp.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160209006646/en/

Gregory FCA for NFP
Marissa Foy, 610-228-2104
NFP@GregoryFCA.com

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Tuesday, February 9th, 2016 EN No Comments

Will Blackstone build or buy a nontraded REIT business?

With private equity giant The Blackstone Group potentially pushing its way into the nontraded real estate investment trust business, the question for many on Wall Street is whether Blackstone will make an acquisition of a current REIT sponsor and wholesaler or create its own.

Blackstone has tapped two senior wealth management executives to lead its new effort. They include Brendan Boyle, senior managing director, private wealth management distribution, and Joe Lohrer, managing director, private wealth management distribution.

Selling nontraded REITs would help get Blackstone in front of mainstream retail investors. Right now, it sells its private equity deals to institutions and the wealthiest clients at wirehouses.

According to one industry executive, who asked not to be named, Blackstone “traditionally builds its own” businesses when exploring new ventures.

That runs counter to a research note from Monday, in which an analyst from FBR Co., Daniel Altscher, raised the possibility that Blackstone look no further than New York-based NorthStar Asset Management Group Inc. for a potential takeover target.

A nontraded REIT manager and wholesaler, NorthStar’s board last month said it had hired Goldman Sachs Co. as its financial adviser to help the company “in exploring possible strategic alternatives to maximize shareholder value.” With the ticker symbol NSAM, NorthStar’s stock price has been struggling. On Tuesday morning, it was trading at $9.67 per share, a drop of 55% in the past year.

That prompted Mr. Altscher to wonder whether Blackstone might take a run at NSAM.

“With NorthStar Asset Management recently announcing that it was exploring strategic options, some on the Street, including us, highlighted that Blackstone could be a possible interested buyer in NSAM given its interest in entering the space,” wrote Mr. Altscher.

(More: Blackstone considering getting into nontraded REIT market)

“Certainly, this recent article suggests that Blackstone is diving deeper into the space, which could further the view that rolling up NSAM could provide instant scale, products, relationships and distribution, in addition to any potential greenfield effort Blackstone pursues,” he wrote. “Of course, it is entirely possible that Blackstone ignores NSAM altogether and goes at the effort alone.”

Another source who asked not to be named said Blackstone “was not pursuing” NSAM.

A spokesman for NSAM, Joe Calabrese, did not return a phone call to comment. Blackstone spokeswoman Paula Chirhart, said the company declined to comment about NSAM.

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Tuesday, February 9th, 2016 EN No Comments

Why European banks exiting US wealth management matters

Barclays, Credit Suisse, Deutsche Bank, wealth management, financial advisers, advisers, advisors

Flying back across the pond

Three European banks with a wealth management division have called it quits here in the United States, the largest wealth management market in the world. This could have implications for the careers of everyone in the industry.

Three years removed from the head-turning purchase of Luminous by First Republic for a reported $125m in cash, we are now in a new era. The U.S. wealth management business is evolving at an uber-fast pace.

Last summer, Barclays announced that it was selling its U.S. wealth management business to sleepy, but steady Stifel Nicolaus of St. Louis. What followed was a steady stream of Barclays’ super-star financial advisers defecting to competitors, mostly Merrill Lynch. Only Stifel knows the final count, but educated guessers have surmised that most of the good horses left the barn and couldn’t be lured to Missouri.

Then came Credit Suisse. The firm just did a very unique deal allowing Wells Fargo Advisors to have a “preferred bidder” position for its 350 ultra-high-end advisers. The problem? Many of the CS advisers determined that Wells was still “aspirational” in the ultra-high-net-worth space and voted with their feet, scattering around the street looking for a place to set up their often complicated businesses. UBS has been the biggest winner in the Credit Suisse sweepstakes – with some notable team acquisitions by Merrill and others.

And last, but not least, there’s Deutsche Bank. It announced recently that it had sold its legacy Alex. Brown Sons wealth management unit to Raymond James, the new beast on the block hungry for acquisitions.

Evolution of banks’ wealth management model

Why did these three storied European banks sell all or part of their U.S. wealth management businesses at fire-sale prices while the founders of relatively obscure newcomers like Constellation Wealth Advisors and Baker Street Advisors were selling their firms for huge returns?

If you are trying to run an investment bank and a grid-paid wealth management unit – see Barclays, CS and DB – and you don’t have scale in the U.S., then you will most likely fail here. If you are strictly focused on one or the other – or if you do have scale, say, north of 1,000 advisers – then you will most likely thrive here.

Look at the multiples being paid for well-run registered investment advisers (RIAs): 10X the overall value of the book of business seems to be the opening bid. Everyone likes to say that scale is the secret. I say no. Headcount per billion dollars of assets under management is the secret. Managing your overhead effectively is a must.

Let’s list some of the areas where senior executives at lean-and-mean wealth management firms will be looking to cut costs: rent, fixed compensation, technology, healthcare, general HR, coffee and furniture. Hey, every little bit counts. It is an outsourced world, and if you aren’t making billions of dollars in profit like the wirehouses, then you need to keep headcount down, and you need to at least consider outsourcing products and services.

How compensation is evolving

What does this all mean from a career perspective? Fewer jobs with a fixed salary plus a discretionary bonus.

Imagine how many home-office staffers and execs are out of work with the shuttering of Barclays and CS. There will be some opportunities for the DB folks paid on salary now headed to Raymond James, because they will bring expertise and capabilities that Ray J. formerly lacked. However, how many compliance departments and HR departments does Raymond James need? One of each, and they’re based in the firm’s St. Petersburg, Fla., headquarters.

What employee category benefits as always? Sales. Show me a firm that is happy with their market share and revenue and I’ll show you the next Barclays. Effective salespeople will continue to be in demand.

Grid-paid jobs? Huge! Salary-plus-bonus jobs? Not so much.

How to break into the biz

As far as which path to take as a rookie looking to get into the wealth management industry, times have changed dramatically.

Back in the day, there were so many doors a highly qualified candidate could enter through. In addition to the mega-firms with their $250m training programs, as recently as 20 years ago there were some great boutiques offering training programs. Examples of the latter include Robertson Stephens, Alex. Brown, Montgomery Securities, Hambrecht Quist (HQ), Credit Suisse, Lehman Brothers and Morgan Stanley (before its merger with Dean Witter).

All of these firms are gone, integrated into a parent company, dramatically reconfigured or reborn. With the lone exception of Morgan Stanley, none of them are recruiting trainees, or if they are, very few of them.

Most RIAs don’t have sufficient budget or patience for underwriting trainees.

If you can’t get one of the 40 private wealth adviser (PWA) training slots at Goldman, how do you break into the wealth management industry? The exodus of European banks from the U.S. wealth management space is just the latest indication that the traditional path is unofficially closed, or at least severely constricted, with no opening in sight.

And yet, with the average age of financial advisers closer to 60 than 50, the industry is desperate to groom the next generation of wealth management professionals. That spells opportunity for aspiring financial advisers.

Here are a couple of pieces of career advice for wealth management professionals:

Only work for companies, big or small, that are expense-conscious.

Only work for companies that are committed to a significant and constant investment in the latest technology, or whose executives are smart enough to outsource it cost-effectively.

Jeffrey Bischoff is the president of Old Greenwich Consultants, a retained search firm focused on the private wealth management sector.

Jeffrey Bischoff

Jeffrey Bischoff

 


Related articles:

wealth management compensation, financial adviser pay, adviser compWealth management compensation: What U.S. financial advisers get paid

How much do you get paid as a financial adviser in the US? A lot if you make it to the top.


jobs financial services hiring banksWhere financial services firms will be hiring in the U.S in 2016

Here are the financial services roles that top recruitment specialists expect to be most in demand in the U.S. in 2016.


wealth management financial advisers retentionAre wealth management firms really facing a shortage of financial advisers?

Many U.S. wealth management firms struggle to retain talented financial advisers.


Photo credit: Ingram Publishing/Thinkstock

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Tuesday, February 9th, 2016 EN No Comments

How to attract, and keep, young high-net-worth clients

The high-net-worth market has grown significantly over the past six years, with nearly one million new high-net-worth individuals (HNWIs) added globally in 2014, according to the 2015 World Wealth Report.

Every year there is a higher proportion of younger affluent investors who prefer to use mobile phones, smartwatches, tablets and other mobile devices for nearly all their information, transactions, and interactions. Like all wealth management clients, they expect strong portfolio performance and exceptional client service; they just want them to be digital and ubiquitous. In fact, 65% of all HNWIs expect to run most or all of their wealth relationships digitally within the next five years.

Younger HNWIs want — and expect — a seamless experience across all devices and platforms. They don’t think about which device or platform they are using for their transactions. They expect touch points across all channels to be aware of their previous interactions with your brand, and they expect their experiences to be not only seamless, but also optimized for each platform and device they use.

And they are constantly judging the effectiveness of each interaction with your brand across channels and comparing it against their experiences not only with your competitors, but with all brands across all touch points, including Amazon, Facebook, Google and Apple.

This sought-after segment has a broader choice of wealth management services and providers than ever before, including new, nimbler entrants and established providers with new technologies that are challenging the traditional financial adviser value proposition and business model. Wealth managers who don’t deliver a seamless, high-value, cross-device and cross-channel customer experiences and build a culture of customer-focused innovation risk losing clients to competitors who do.

(Related read: Planning for millennial market disruption)

Incremental customer experience improvements won’t satisfy them. In order to stay competitive and continue to be successful, wealth managers need to reinvent the way they deliver their services and align them with the changing needs of HNWIs. Here are five ways to set up an effective framework for getting there:

1. Design a consistent, relevant, convenient, valuable and differentiated customer experience. To survive and thrive in the digital economy, wealth managers need a clear, bold vision for creating a seamless, tailored, and engaging user experience that will satisfy their clients better than anyone else does. That experience must extend business functions seamlessly across mobile, social, online and offline channels, on any device or platform, and give clients efficient and timely access whenever, wherever and however they prefer. A banking customer may begin an interaction online but then switch to the contact center before finally visiting the branch.

There has to be a common connected platform to support this journey that prevents users from having to explain the context all over again. It must be both scalable and flexible, able to support ongoing innovation as client and business needs change.

2. Use engagement and analytics to drive design and innovation. Your user experience design starts with a deep understanding of your customers. What tasks are they trying to complete? What are their motivations for interacting with you? What outcomes are they looking for? For example, if they are looking for a quick view of their investment positions or their account transactions, provide a fast access page that needs fewer clicks to get to the data. Use ongoing engagement and usage data analysis to gain insights into how you can make clients’ interactions with you faster, simpler, easier and more valuable.

3. Determine the technology requirements for implementing a seamless customer experience. Engage a partner to do a business and technical analysis of your products, platforms, applications and services. Map them against your strategic goals and technology capabilities, and recommend a rollout of necessary upgrades to meet your business objectives. For example, a national bank client needed to provide customers with access to their financial information across all of their business and personal accounts. We simplified their provisioning and entitlement system so that the advisers could access and manage customer information without IT support, improving service and satisfaction.

4. Integrate your design and development processes. Have your design and development teams work collaboratively on a road map for creating and improving the customer experience across all channels. It should build user validation and intelligent testing processes into every project plan. It should use an agile approach in design and development that enables your teams to experiment, validate, fail, refine and improve prototypes rapidly and iteratively. Start with the mobile channel, which offers an intimate relationship with the customer that enables faster feedback and more opportunities to deploy, try, test, learn and improve.

5. Change the firm’s culture — and organization, if necessary — to put customer needs and wants at the center of every business decision. Ingrain a new culture of customer focus, continuous improvement and innovation throughout your organization. Everyone should routinely monitor what HNWIs are saying on social media about their goals, priorities and challenges, and about your firm and your competitors.

At the same time, look for ways to use technology for business-process improvements that benefit both your clients and your firm, such as enabling advisers to bring new clients onboard with multiple account types on mobile devices — tablets, laptops or smartphones — and streamlining on-boarding of new business units so your firm can immediately capitalize on growth opportunities.

James Williams is the director of experience engineering at Ness SES.

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Monday, February 8th, 2016 EN No Comments

Wealth in China: Sizing the Market Opportunity








<!– Paragraph before: NEW YORK, Feb. 8, 2016 /PRNewswire/ — Summary

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<!– Paragraph After: NEW YORK, Feb. 8, 2016 /PRNewswire/ — Summary

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NEW YORK, Feb. 8, 2016 /PRNewswire/ — Summary

<!– Paragraph before: Wealth in China: Sizing the Market Opportunity analyzes China’s wealth and retail savings and investments markets, with a particular focus on the HNW segment. Analysis is based upon our 2014 Global Wealth Managers Survey, our Global Wealth Markets Analytics, and our Global Retail Investments Analytics.

Synopsis
– Size your potential client base using our proprietary data, presenting the number of affluent individuals by liquid asset band to 2018.
– Understand the drivers behind the growth of the affluent market, such as the wider macroeconomic environment and investment preferences.
– Quantify HNW asset allocations into non-liquid assets such as property. Find out how much of their investible assets are held offshore.
– Export the graphics from the dashboard, or if you are more at ease using Excel, export the data into your own worksheets.

ReasonsToBuy
– How large is the HNW market in China?
– What is the penetration of affluent individuals in China?
– What is the current and future mix of asset class balances in China?
– How much of their wealth do Chinese HNW individuals invest offshore?
– Which booking centers are used by HNW individuals to invest offshore?

Key Highlights
Thanks to a predicted drop in economic productivity, the remarkable wealth growth rates of the past few years will not be repeated over the forecast period. Nevertheless, strong predicted retail investments growth – led by strong equity performance – will continue to see the market grow at a faster rate than in the wider region.

Thanks to strong stock market performance, 2014 was a strong year for China’s retail investment market, which expanded by 14.7%. Albeit to a lesser degree, a bullish equity market and a reallocation of assets (which will benefit equities as well as wealth management products) will sustain strong retail investment market growth going forward.

Chinese HNW investors allocate a noteworthy proportion of their investible assets into non-traditional investments, mostly in direct property. In addition, alternative investments are set to play an increasingly important role in HNW portfolios, and wealth managers need to be ready to meet this demand.
Read the full report:
http://www.reportlinker.com/p03375692-summary/view-report.html

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

http://www.reportlinker.com

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

–>
<!– Paragraph After: Wealth in China: Sizing the Market Opportunity analyzes China’s wealth and retail savings and investments markets, with a particular focus on the HNW segment. Analysis is based upon our 2014 Global Wealth Managers Survey, our Global Wealth Markets Analytics, and our Global Retail Investments Analytics.

Synopsis
– Size your potential client base using our proprietary data, presenting the number of affluent individuals by liquid asset band to 2018.
– Understand the drivers behind the growth of the affluent market, such as the wider macroeconomic environment and investment preferences.
– Quantify HNW asset allocations into non-liquid assets such as property. Find out how much of their investible assets are held offshore.
– Export the graphics from the dashboard, or if you are more at ease using Excel, export the data into your own worksheets.

ReasonsToBuy
– How large is the HNW market in China?
– What is the penetration of affluent individuals in China?
– What is the current and future mix of asset class balances in China?
– How much of their wealth do Chinese HNW individuals invest offshore?
– Which booking centers are used by HNW individuals to invest offshore?

Key Highlights
Thanks to a predicted drop in economic productivity, the remarkable wealth growth rates of the past few years will not be repeated over the forecast period. Nevertheless, strong predicted retail investments growth – led by strong equity performance – will continue to see the market grow at a faster rate than in the wider region.

Thanks to strong stock market performance, 2014 was a strong year for China’s retail investment market, which expanded by 14.7%. Albeit to a lesser degree, a bullish equity market and a reallocation of assets (which will benefit equities as well as wealth management products) will sustain strong retail investment market growth going forward.

Chinese HNW investors allocate a noteworthy proportion of their investible assets into non-traditional investments, mostly in direct property. In addition, alternative investments are set to play an increasingly important role in HNW portfolios, and wealth managers need to be ready to meet this demand.
Read the full report: http://www.reportlinker.com/p03375692-summary/view-report.html

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

http://www.reportlinker.com

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

–>

Wealth in China: Sizing the Market Opportunity analyzes China’s wealth and retail savings and investments markets, with a particular focus on the HNW segment. Analysis is based upon our 2014 Global Wealth Managers Survey, our Global Wealth Markets Analytics, and our Global Retail Investments Analytics.

Synopsis
– Size your potential client base using our proprietary data, presenting the number of affluent individuals by liquid asset band to 2018.
– Understand the drivers behind the growth of the affluent market, such as the wider macroeconomic environment and investment preferences.
– Quantify HNW asset allocations into non-liquid assets such as property. Find out how much of their investible assets are held offshore.
– Export the graphics from the dashboard, or if you are more at ease using Excel, export the data into your own worksheets.

Reasons To Buy
– How large is the HNW market in China?
– What is the penetration of affluent individuals in China?
– What is the current and future mix of asset class balances in China?
– How much of their wealth do Chinese HNW individuals invest offshore?
– Which booking centers are used by HNW individuals to invest offshore?

Key Highlights
Thanks to a predicted drop in economic productivity, the remarkable wealth growth rates of the past few years will not be repeated over the forecast period. Nevertheless, strong predicted retail investments growth – led by strong equity performance – will continue to see the market grow at a faster rate than in the wider region.

Thanks to strong stock market performance, 2014 was a strong year for China’s retail investment market, which expanded by 14.7%. Albeit to a lesser degree, a bullish equity market and a reallocation of assets (which will benefit equities as well as wealth management products) will sustain strong retail investment market growth going forward.

Chinese HNW investors allocate a noteworthy proportion of their investible assets into non-traditional investments, mostly in direct property. In addition, alternative investments are set to play an increasingly important role in HNW portfolios, and wealth managers need to be ready to meet this demand.
Read the full report: http://www.reportlinker.com/p03375692-summary/view-report.html

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

http://www.reportlinker.com

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

<!– Paragraph before: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wealth-in-china-sizing-the-market-opportunity-300216711.html

–>
<!– Paragraph After: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wealth-in-china-sizing-the-market-opportunity-300216711.html

–>

SOURCE Reportlinker

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Monday, February 8th, 2016 EN No Comments

Emotional Investing Could Ruin You

We realize that Valentine’s Day has you thinking with your heart, but that particular organ has no place in your financial planning.

UBS Wealth Management Americas recently conducted a survey that questioned wealthy investors with more than $1 million in investable assets before and after recent market volatility and geopolitical turmoil. The results find those investors drifting between rational planning and emotional reaction. While 79% of those investors say the economic recovery has met or exceeded their expectations, with nearly half (47%) saying they wish they had invested more during the rebound, a full 89% of investors have maintained or increased their cash holdings since the crisis. Meanwhile, only 18% are willing to assume more risk for greater returns.

“Even before recent volatility tested their resolve, investors struggled to weigh the economic recovery and its positive effects on their finances against the lingering emotional fallout from 2008 and 2009,” says Paula Polito, client strategy officer with UBS Wealth Management Americas. “The financial crisis appears to have cast a long shadow on investors.”

The wealthy aren’t the only ones who find themselves torn by recent economic events. Hartford Funds recently surveyed nearly 800 investors with investable assets starting at $100,000. While 44% of investors anticipate that their overall financial situation will improve in 2016 and 54% say they are very or somewhat confident about their investments — and only 14% anticipate that their financial situation will worsen in 2016 — there are still concerns on the horizon.

Roughly 30% of investors expect events around the world impacting the global economy to have the largest effect on their finances. Less than half that number (14%) expect interest rates to have the biggest impact on their finances in 2016. A quarter of respondents are jittery about stock market volatility, 18% fret about economic growth and 13% expect the presidential election to have the biggest impact on their finances next year. Meanwhile, advisors are doing their best to get clients to look at the big picture and stay the course.

“Because a wide variety of events can impact a portfolio day to day or even month to month, it can be challenging to take the emotion out of investing,” says John Diehl, senior vice president of strategic markets at Hartford Funds. “However, it is absolutely critical to remain as objective as possible to ensure headlines aren’t driving your investment strategy. The key is to remain focused on progress against achieving financial goals.”

That means not letting the day-to-day horse race of the presidential campaign effect your financial planning. According to UBS, 80% of investors are worried about the outcome of the 2016 presidential elections, and 76% of investors are concerned about the size of the country’s debt burden. That said, according to a recent RBC Wealth Management poll, 32% of Americans think the economy will improve after the 2016 elections, though 17% think the economy will worsen.

However, there is a huge divide between how Millennials (ages 18 to 34) and Baby Boomers (ages 55 and older) see the upcoming election. While 37% of Millennials think the outcome of the presidential election will boost the economy, only 30% of Americans ages 35 to 54 (Gen X-ers) and 29% of those ages 55 and older agree. Meanwhile, 40% of Millennials and 37% of Gen X-ers indicate that they think the value of their investments will improve after the election compared with only 23% of Baby Boomers. Though Boomers are understandably jittery as they retire and rely on the economy and market to pump up their investment portfolios, advisors suggest history is working in their favor.

“The stock market typically rises during election years, regardless of which party wins,” said John Taft, chief executive of RBC Wealth Management-U.S. “Of course, there are always exceptions to any rule.”

It’s those exceptions that have investors worried. Among UBS investors, 77% expect the market volatility that began earlier this year to be temporary, while nearly a quarter (23%) think it signals the start of longer-term market decline. Compounding those fears are the 76% of investors who think the myriad global concerns affecting markets make it challenging to understand the whole financial picture (including the 81% of investors who’ve been under a rock for about 45 years and just now think that global terrorism is part of the “new normal”).

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Monday, February 8th, 2016 EN No Comments

TD Wealth Names Vincent Mattone as Relationship Manager in Metro New York City Market


For Immediate Release

February 7, 2016

Contact:
Martha Gaston, TD Bank
856 505 1168
E-mail: martha.gaston@td.com
Web Site: http://www.tdbank.com/

TD Wealth Names Vincent Mattone as Relationship Manager in Metro New York City Market

TD Wealth Private Client Group provides clients with customized private banking and wealth management services through TD Bank, Americas Most Convenient Bank

NEW YORK, N.Y. (February 7, 2016) – TD Wealth® Private Client Group has named Vincent A. Mattone as Vice President, Relationship Manager in the Metro New York City market. TD Wealth Private Client Group provides clients with customized private banking and wealth management services through TD Bank, America’s Most Convenient Bank®, and its affiliates.

Vincent Mattone, new Vice President, Relationship Manager in the Metro New York City market based in NYC.

As a Relationship Manager, Mattone will provide high net worth clients with a custom wealth management experience leveraging TD Wealth’s holistic client service model. Working with TD Wealth’s Investment Advisors and Trust Advisors, Mattone will proactively manage and invest his clients’ assets, and introduce them to the full range of wealth management solutions available to meet their specific financial objectives.

Mattone has 10 years of experience in wealth management and financial planning. Prior to joining TD Wealth, he served as a Client Advisor at Bernstein Private Wealth Management in New York and before that, as a Financial Advisor at Morgan Stanley within its corporate executive services group in New York City.

A resident of Long Island City, N.Y., Mattone serves as Second VP of the Union College Alumni Council and also is on the board of the Union College Alumni Club of NYC. In addition, he serves on the Young Professionals Board of Youth Inc. Mattone holds a BA in Economics/Political Science (2006) from Union College in Schenectady, N.Y.

About TD Wealth

Through TD Wealth’s Private Client Group, TD Bank, N.A. and its affiliates work with high net worth individuals and institutions to help build, preserve and transition wealth. Delivering private banking and wealth management services for more than 80 years, TD Wealth is committed to helping personal investors, institutional and non-profit organizations gather, grow and safeguard their assets by building long-lasting relationships, and sharing the resources of one of the 10 largest financial institutions in the U.S., TD Bank, America’s Most Convenient Bank®. From private banking, securities, investment advisory services, private trust, and estate planning, to institutional trust, including retirement planning, captive insurance and trustee services, TD Wealth creates and delivers customized and integrated wealth management solutions. TD Wealth is a service mark of The Toronto-Dominion Bank. For more information, visit http://www.tdbank.com/investments.

About TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.

TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com.

 

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Sunday, February 7th, 2016 EN No Comments

94000 Shares in Schlumberger Limited. (SLB) Acquired by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC purchased a new stake in Schlumberger Limited. (NYSE:SLB) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 94,000 shares of the company’s stock, valued at approximately $6,557,000. Schlumberger Limited. comprises approximately 2.4% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 4th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gierl Augustine Investment Management bought a new position in Schlumberger Limited. during the fourth quarter valued at $0. Edge Wealth Management increased its position in Schlumberger Limited. by 714.3% in the fourth quarter. Edge Wealth Management now owns 570 shares of the company’s stock valued at $40,000 after buying an additional 500 shares during the period. Carlson Capital Management increased its position in Schlumberger Limited. by 1.4% in the fourth quarter. Carlson Capital Management now owns 3,718 shares of the company’s stock valued at $259,000 after buying an additional 50 shares during the period. HighPoint Advisor Group LLC increased its position in Schlumberger Limited. by 2.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,102 shares of the company’s stock valued at $267,000 after buying an additional 88 shares during the period. Finally, Capital Planning Advisors LLC increased its position in Schlumberger Limited. by 6.9% in the fourth quarter. Capital Planning Advisors LLC now owns 3,850 shares of the company’s stock valued at $269,000 after buying an additional 250 shares during the period.

Schlumberger Limited. (NYSE:SLB) opened at 68.81 on Friday. The firm has a market capitalization of $86.45 billion and a price-to-earnings ratio of 42.21. The firm has a 50-day moving average of $67.35 and a 200-day moving average of $74.56. Schlumberger Limited. has a 1-year low of $59.60 and a 1-year high of $95.13.

Schlumberger Limited. (NYSE:SLB) last released its quarterly earnings data on Thursday, January 21st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. During the same period in the previous year, the company earned $1.50 EPS. The business earned $7.74 billion during the quarter, compared to analyst estimates of $7.94 billion. Schlumberger Limited.’s revenue was down 38.7% on a year-over-year basis. On average, analysts expect that Schlumberger Limited. will post $2.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 8th. Stockholders of record on Wednesday, February 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 12th. This represents a $2.00 annualized dividend and a dividend yield of 2.91%.

Several research analysts recently weighed in on SLB shares. Stephens upped their price target on shares of Schlumberger Limited. from $92.00 to $94.00 in a research report on Monday, November 2nd. Barclays reduced their price target on shares of Schlumberger Limited. from $85.00 to $75.00 in a research report on Thursday, January 14th. Clarkson Capital cut their price objective on shares of Schlumberger Limited. from $90.00 to $78.00 in a report on Thursday, January 21st. Robert W. Baird cut their price objective on shares of Schlumberger Limited. from $99.00 to $82.00 in a report on Thursday, January 21st. Finally, KLR Group cut their price objective on shares of Schlumberger Limited. from $105.00 to $91.00 in a report on Wednesday, January 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $89.37.

In other news, Director Mark Danton sold 2,294 shares of the company’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $65.92, for a total value of $151,220.48. Following the completion of the transaction, the director now directly owns 36,940 shares in the company, valued at $2,435,084.80. The sale was disclosed in a legal filing with the Securities Exchange Commission, which is available through the SEC website. Also, General Counsel Alexander C. Juden sold 19,000 shares of the company’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $65.80, for a total transaction of $1,250,200.00. Following the completion of the transaction, the general counsel now owns 25,564 shares of the company’s stock, valued at $1,682,111.20. The disclosure for this sale can be found here.

This story was originally published by Intercooler Financial (http://www.intercooleronline.com) and is the sole property of Intercooler Financial. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.intercooleronline.com/stocks/94000-shares-in-schlumberger-limited-slb-acquired-by-bright-rock-capital-management-llc-2/386313/

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Sunday, February 7th, 2016 EN No Comments

Gilead Sciences, Inc. (NASDAQ:GILD) Receives $125.35 Average Target Price from Analysts

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) have earned a consensus rating of “Buy” from the thirty-one analysts that are currently covering the company, Analyst Ratings Net reports. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $121.76.

Shares of Gilead Sciences (NASDAQ:GILD) opened at 85.14 on Tuesday. The company has a market capitalization of $121.07 billion and a price-to-earnings ratio of 7.15. The company’s 50-day moving average is $94.61 and its 200 day moving average is $104.10. Gilead Sciences has a 12 month low of $81.89 and a 12 month high of $123.37.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 2nd. The biopharmaceutical company reported $3.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.32. The business had revenue of $8.51 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the previous year, the company earned $2.43 earnings per share. The firm’s revenue was up 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Gilead Sciences will post $12.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 30th. Investors of record on Wednesday, March 16th will be issued a $0.43 dividend. The ex-dividend date is Monday, March 14th. This represents a $1.72 annualized dividend and a yield of 2.02%.

In related news, EVP Paul Rutherford Carter sold 2,000 shares of the business’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $99.20, for a total value of $198,400.00. Following the sale, the executive vice president now directly owns 48,783 shares in the company, valued at approximately $4,839,273.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Francis Cogan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $105.95, for a total transaction of $1,589,250.00. Following the completion of the sale, the director now owns 44,309 shares in the company, valued at $4,694,538.55. The disclosure for this sale can be found here.

A number of hedge funds recently modified their holdings of the stock. LVM Capital Management raised its stake in shares of Gilead Sciences by 11.6% in the fourth quarter. LVM Capital Management now owns 84,630 shares of the biopharmaceutical company’s stock valued at $8,564,000 after buying an additional 8,795 shares during the period. Cabot Wealth Management increased its position in Gilead Sciences by 110.6% in the fourth quarter. Cabot Wealth Management now owns 53,983 shares of the biopharmaceutical company’s stock valued at $5,463,000 after buying an additional 28,353 shares in the last quarter. Curbstone Financial Management increased its position in Gilead Sciences by 93.6% in the fourth quarter. Curbstone Financial Management now owns 22,920 shares of the biopharmaceutical company’s stock valued at $2,319,000 after buying an additional 11,080 shares in the last quarter. Van Cleef Asset Management increased its position in Gilead Sciences by 0.9% in the fourth quarter. Van Cleef Asset Management now owns 61,321 shares of the biopharmaceutical company’s stock valued at $6,205,000 after buying an additional 566 shares in the last quarter. Finally, Edge Wealth Management increased its position in Gilead Sciences by 32.5% in the fourth quarter. Edge Wealth Management now owns 14,519 shares of the biopharmaceutical company’s stock valued at $1,476,000 after buying an additional 3,560 shares in the last quarter.

Several brokerages have issued reports on GILD. Jefferies Group reiterated a “hold” rating and set a $111.00 target price on shares of Gilead Sciences in a report on Wednesday, October 28th. Piper Jaffray reiterated a “buy” rating and set a $134.00 target price on shares of Gilead Sciences in a report on Saturday, January 9th. Robert W. Baird reiterated an “outperform” rating and set a $135.00 target price on shares of Gilead Sciences in a report on Friday. Evercore ISI reiterated a “buy” rating and set a $115.00 target price on shares of Gilead Sciences in a report on Friday. Finally, Cowen and Company reiterated a “buy” rating and set a $130.00 target price on shares of Gilead Sciences in a report on Monday, January 4th.

Gilead Sciences, Inc (NASDAQ:GILD), is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines. The Company’s primary areas of focus include human immunodeficiency virus (HIV), liver diseases such as chronic hepatitis C virus (HCV) infection and chronic hepatitis B virus (HBV) infection, oncology and inflammation, and serious cardiovascular and respiratory conditions.

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Sunday, February 7th, 2016 EN No Comments

Front Street Wealth Management: Finding your safe spending rate

More goes into planning for and sustaining a retirement than meets the eye. On the surface lies plenty of generic advice from the financial planning industry. Yet, beneath the surface are a slew of assumptions about a largely unknown future. To understand how to manage your sustainable retirement clearly takes more than simple rules of thumb.

It should come as little surprise that your retirement decision may be dominated as much by feelings of insecurity as it is by feelings of excitement. Thankfully, the balance between these two emotional poles can be tilted in your favor with pre-retirement planning.

For example, one critical first step for a soon-to-be retiree is to develop a deeper understanding of your post-retirement budget. During your working years, budgeting is all-too-often dismissed. However, when your income becomes more-fixed and less-active in nature, spending choices take on a new sense of importance.

During meetings with soon-to-be-retired clients, my early fact-finding focuses on gaining a better understanding of the true cost of their lifestyle. Without that understanding, retirement planning — and the day-to-day services that follow from that planning — can feel like stumbling in the dark.

With your lifestyle’s financial obligation defined, the traditional survey of your assets and debts and the review of your various sources of income begin to take on the deeper purpose of building financial sustainability.

Of course, the financial obligation that springs from your choice of retirement lifestyle must be met by sustainable income. For most retirees, at the base rests Social Security and, for a shrinking number, pension income. Together, these are just two legs of the proverbial three-legged financial stool.

The final leg of a sustainable retirement is built from income earned from your personal savings. While some might be generated from real estate or even business interests, it often must be earned from traditional sources, such as IRAs or after-tax savings and investments.

It is here, within this portion of private savings, where you may have a lack of confidence of how much you can safely spend from private savings each year.

This central question about your safe spending rate, known in the industry as the sustainable withdrawal rate, is where financial planners toss around overly-simplistic rules of thumb. In reality, the assumptions that underpin rules, like the “4% Rule”, are complex and debatable. For good reason, this subject dominates the thoughts of many financial planners. Honestly, it rarely strays far from my mind when managing my clients’ investment portfolios.

As we enter the new year, it would be wise for you, a current or soon-to-be retiree, to establish your own personalized safe spending rate. Only then will a confident retirement — and, yes, a worthwhile New Year’s resolution — be sustained.

Jason P. Tank, CFA of Front Street Wealth Management will hold a free educational workshop on “Retirement Income: From Where When” on Feb. 10 at 6:30 p.m. in the McGuire Room at the Traverse Area District Library. Call 231-714-6436 with questions. To learn more, click here.

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Saturday, February 6th, 2016 EN No Comments