Commentary: The value of conscious inclusion in firms | SEC launches fake site to expose risks of crypto investing | Senators make bipartisan call for retirement commission
May 21, 2018
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Commentary: The value of conscious inclusion in firms
Women and those with multicultural backgrounds are underrepresented in the advising business, which is a threat to the profession and an opportunity, writes Marguerita Cheng, CEO of Blue Ocean Global Wealth. She champions the idea of conscious inclusion and explains how it can help firms find talent and improve "productivity, profitability, quality, employee commitment and retention."
InvestmentNews (tiered subscription model) (5/19) 
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Policy Watch
SEC launches fake site to expose risks of crypto investing
The Securities and Exchange Commission has launched, a bogus website that highlights the risks of being swayed by promises of guaranteed returns via cryptocurrency investments. When users click to "buy coins now," they are taken to an official SEC site that points out they could have been duped and lists warning signs that indicate an offer is probably fake.
CNBC (5/17) 
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Senators make bipartisan call for retirement commission
Sens. Todd Young, R-Ind., and Cory Booker, D-N.J., have introduced legislation to create a federal commission to look for ways to improve retirement security for private-sector workers. The commission would consider proposals to help the mobile workforce, and gig and part-time workers, and review policies from other countries, including the mandatory retirement savings systems in some Scandinavian nations, Young said.
Forbes/Next Avenue (5/20) 
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10-year US Treasury yield tops rates of other developed nations
The yield on the 10-year US Treasury bond rose above 3.1% last week, the highest yield in almost seven years. The benchmark bond is paying the highest yield among those of the 10 biggest developed economies.
The Wall Street Journal (tiered subscription model) (5/20) 
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US trade war with China on hold, Mnuchin says
US Treasury Secretary Steven Mnuchin says the US and China are "putting the trade war on hold." The countries have agreed to withdraw tariffs proposed for each other while they develop a comprehensive trade agreement, he says.
Reuters (5/20),  The Washington Post (tiered subscription model) (5/20),  The New York Times (tiered subscription model) (5/20) 
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Pay More Only When you Get More
Today's investors want performance that's worth the fees they pay. Low cost, passive vehicles may seem to fit the bill, but you face all the downside when markets fall. Is there something that offers investors the best of both worlds?
Building Your Business
4 easy ways to transform prospects into clients
Research by SmartAsset revealed four simple steps advisors can take to turn prospects into clients. Tactics shared by top closers include taking action within a week of receiving leads and reaching out to prospects outside of normal business hours.
ThinkAdvisor (free registration) (5/18) 
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Marketing strategies for targeting niche clients
Targeting a niche group of prospects could prove more fruitful for an advisor than marketing themselves or their firms as generalists, writes Michael Kitces of Pinnacle Advisory Group. He offers tips on niche marketing, including creating a content hub to invite prospects to engage and forming relationships with key influencers in the niche group.
Financial Planning online (5/21) 
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When to fire a client for the sake of the firm
There are some instances in which it makes business sense to fire a client, writes Mark Palmerino of CCR Wealth Management. These include poor economics, bad chemistry or behavior that presents a risk to the firm's reputation.
WealthManagement (5/17) 
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Financial Products
College savings are up, but most people are not utilizing 529 plans
Americans are saving the highest amount of funds for college since 2013, but less than one-third are relying on 529 savings plans, according to a report by Sallie Mae. The most common tool parents are using to save for college is a general savings account.
ThinkAdvisor (free registration) (5/18) 
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FSI Member News & Events
FSI Capitol Hill Day 2018
Financial Services Institute members achieved a significant victory as the 5th Circuit Court of Appeals ruled in favor of vacating the Labor Department's fiduciary rule and paving the way for a Securities and Exchange Commission-created best interest standard for all investment advice. However, there's still work to be done, and advocacy victories such as this aren't possible without your active engagement. Join us for Capitol Hill Day June 5-6 for your opportunity to meet with your elected officials and help move the needle on issues impacting our industry. Register now.
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New business intelligence tool -- FSI member discount
FSI has partnered with Truelytics to bring members a robust online valuation and business intelligence platform that can help you go from running a practice to owning a business. The Truelytics platform gives financial advisors the ability to understand the value of their entire practice, including earnings contributions and the key strengths and weaknesses that are driving their business. FSI members receive a 21% discount on the Truelytics business intelligence platform. Learn more and sign up for a demo today!
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Thomas Carlyle,
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