Private auction marketplace targets wealthy investors | Annual Conference Experience offers deep dive into the Millennial Mindset | Registration open for Masters Series: Advanced Business Strategist Program
March 16, 2017
IMCA Insight
Top Story
Private auction marketplace targets wealthy investors
Nasdaq has launched a private-auction platform called NPM Alternatives for alternative investments that provides liquidity to attract financial advisors representing affluent investors. To trade on the platform, clients must be accredited investors with a net worth of at least $1 million.
InvestmentNews (tiered subscription model) (3/8) 
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IMCA® Update
Annual Conference Experience offers deep dive into the Millennial Mindset
Coming of age in an era of technology, economic volatility, social change, and unprecedented connectivity, Millennials have developed values unique to their generation. At IMCA's 2017 Annual Conference Experience (ACE), Texas A&M University professor Nathan Harness will examine this demographic group and teach advisors how an investment in Millennials can be an investment in lasting success. Register at the ACE early-bird rate to learn from the industry's top thought leaders, San Diego Convention Center, April 30–May 3.
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Registration open for Masters Series: Advanced Business Strategist Program
Get the latest on effective team leadership and communication from Heather Caruso, executive director, the Center for Decision Research, and adjunct associate professor of behavioral science, University of Chicago Booth School of Business, at IMCA's 2017 Advanced Business Strategist program, held in conjunction with ACE, San Diego Convention Center, April 30–May 3. Register now for this limited enrollment program to enhance your skills and take your business to the next level.
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What to expect? Bernstein on the 2017 investment landscape
Richard Bernstein, chief executive officer and chief investment officer, Richard Bernstein Advisors LLC, recently shared his thoughts on what to expect this year at IMCA's 2017 Investment Advisor Forum. Will it be bulls or bears in the forecast? Read IMCA's InvestmentSense blog post on Bernstein to find out.
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Use the four keys approach to impact investing
If you're new to impact investing, don't get overwhelmed. Jon Hale, head of sustainability research for Morningstar Investment Management, breaks it down into four keys that highlight the most vital aspects you should know in an InvestmentSense blog post by contributor Linda Corman.
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Wealth Management
Estate plans must involve digital assets, experts say
Insurance agents, financial advisors and lawyers must develop estate plans that provide a designated person with authority to access a client's digital assets, experts say. Less than half of states have laws that address the subject, and experts say plans must be revised as laws are updated.
LifeHealthPro (3/9) 
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How to make the most of cross-selling opportunities
Advisors are increasingly in search of ways to maximize the potential of their client relationships by establishing and cross-selling additional services beyond the basic offerings. Industry experts advocate vehicles such as radio programs and newsletters to update clients on their full range of services, with one expert adding that they should contain real-life case histories to vividly demonstrate their value, rather than simply listing the services available.
InvestmentNews (tiered subscription model) (3/10) 
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Industry Updates & Trends
Industry seeks injunction against fiduciary rule
Financial industry groups have filed for an injunction in federal court to prevent the Department of Labor's fiduciary rule from taking effect April 10. One group noted that the financial-services industry would be irreparably harmed should the rule take effect. (subscription required) (3/13) 
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Survey: RIAs worried about cybersecurity, market correction
All leaders of registered investment advisory firms surveyed by Cerulli Associates said they were moderately or very concerned about cybersecurity and a market correction. Among the same group, 82% were worried about regulation and fee compression.
InvestmentNews (tiered subscription model) (3/9) 
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Study: Longevity, lower stock and bond returns boost retirement cost
Declining stock returns and bond yields, combined with greater longevity, likely will lead to costlier retirement, according to research published in the Journal of Financial Planning. Advisors must consider such factors and adjust client portfolios accordingly, the study says. (3/10) 
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Practice Management
Analysis: What to do while fiduciary rule is delayed
Ongoing delays to the new Department of Labor fiduciary rule and the possibility that it could be abolished altogether may leave advisors in a quandary about how to proceed. Fiduciary law expert Fred Reish emphasizes that they should continue to observe the existing rule and apply it to recommendations on products such as 401(k) plans and individual retirement accounts.
InvestmentNews (tiered subscription model) (3/14) 
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Advisors urged to heed IRS notes on hardship withdrawals
The IRS has issued guidelines on hardship withdrawals from tax-qualified retirement plans, and advisors should fully understand them to avoid erroneous processing. The guidance highlights areas where errors might occur, and advisors must decide whether operational adjustment is needed.
InvestmentNews (tiered subscription model) (3/8) 
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Regulatory & Legislative Spotlight
GOP wants to abolish alternative minimum tax
Congressional Republicans plan to introduce a bill that would bring an end to the alternative minimum tax. The controversial and complicated tax, which is aimed primarily at high earners but also affects people in high-taxation states such as New Jersey, has attracted fierce criticism from lawmakers, but its elimination could stall if the broader tax reform package fails to pass.
Financial Advisor online (3/7) 
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Trump orders widespread overhaul of federal agencies
Trump orders widespread overhaul of federal agencies
Trump (Pool/Getty Images)
President Donald Trump has issued an order to reorganize numerous federal agencies, including the Securities and Exchange Commission, the Labor and Justice departments, and the Social Security Administration. Agency heads have been given 180 days to submit restructuring plans as the administration aims to eliminate agencies and functions deemed unnecessary.
ThinkAdvisor (free registration) (3/14) 
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Acosta appointment won't mean quick action on fiduciary rule
The expected confirmation of R. Alexander Acosta as head of the Department of Labor doesn't mean quick action is likely on the department's fiduciary rule, which appears headed for a delay until June. Acosta will need to decide whether to seek amendments to the rule or to pursue an outright repeal, a process that one industry executive said would be a slow one.
ThinkAdvisor (free registration) (3/8) 
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FINRA proposes new general knowledge exam
The Financial Industry Regulatory Authority has filed a proposal with the Securities and Exchange Commission for a new general knowledge exam that would mark a fundamental change to the current examination structure. A highlight of the proposal is that aspiring registrants could take the exam without the need for a firm agreeing to sponsor them and receive a qualification valid for four years, giving them time to seek employment. (U.S.) (3/9) 
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Do not take life too seriously -- you will never get out of it alive.
Elbert Hubbard,
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About IMCA
Based in Denver, Investment Management Consultants Association® (IMCA®) was established in 1985 to deliver the premier investment consulting and wealth management credentials and world-class educational offerings—membership, conferences, research, and publications. The cornerstone of IMCA® is the Certified Investment Management Analyst® (CIMA®) certification, the only advanced certification designed specifically for investment consultants. IMCA® also delivers the advanced credential for wealth management professionals working with high-net-worth clients, the Certified Private Wealth Advisor® (CPWA®) certification. Visit for more information.

IMCA® and Investment Management Consultants Association® are registered trademarks of Investment Management Consultants Association Inc. CIMA®, Certified Investment Management Analyst®, CIMC®, CPWA®, and Certified Private Wealth Advisor® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.
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