How to cement a relationship with wealthy clients and their heirs | Learn with leading Wharton faculty at Advanced Business Strategist, Sept. 13-14 | Make plans for Wealth Advisor Forum, Oct. 8-9, in Chicago
June 21, 2018
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How to cement a relationship with wealthy clients and their heirs
A recent study shows older generations could transfer up to $30 trillion to heirs in coming years, but roughly two-thirds of advisors do not have a transfer plan in place for those assets, writes InvestingChannel's Bob Verrico. To capitalize on this market, Verrico suggests focusing "discussions on how to best educate clients' heirs to differentiate from other advisors, while creating a business model that is subtly unique and ensures the maintenance of the relationship."
Financial Planning online (6/14) 
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Investments & Wealth Update
Learn with leading Wharton faculty at Advanced Business Strategist, Sept. 13-14
From the impact of innovation in a global marketplace to blockchain and beyond, the Advanced Business Strategist conference, Sept. 13-14, offers the strategies needed to differentiate yourself from the crowd. Learn from leading faculty members from The Wharton School of Business at the University of Pennsylvania, including Jules van Binsbergen, Mario Guillen, Patti Smith and others.
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Make plans for Wealth Advisor Forum, Oct. 8-9, in Chicago
Are you prepared to meet your private wealth clients' unique needs? Get the insights, strategies and real-world tools to help distinguish yourself with high-net-worth and ultra-high-net-worth clients at Wealth Advisor Forum, Oct. 8-9, in Chicago. Register now.
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Wall Street Journal ad to highlight importance of Institute credentials to investors
Check out our advertisement in the June 21 issue of The Wall Street Journal, as we celebrate the 30th anniversary of the Certified Investment Management Analyst® certification and the 10th anniversary of the Certified Private Wealth Advisor® certification. Share your expertise as an Exceptional Advisor to investors and differentiate yourself with our Exceptional Advisor Toolkit.
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On-demand, online CE library offers convenience of learning from your desk
Not everyone can attend Institute conferences, so we've captured the best sessions for you to experience online. Visit the on-demand Continuing Education Library for quick CE of select conference sessions, Focus events and more.
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Wealth Management
More and more affluent people buying LTC hybrid policies
Sales of hybrid policies combining long-term care insurance and life insurance hit 260,000 last year, nearly four times the 66,000 sales of traditional long-term care policies. Experts say more affluent people are buying the policies to help protect their large estates from being drained later in life.
The Wall Street Journal (tiered subscription model) (6/11) 
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Lessons to be learned in Stan Lee's reported elder-abuse case
Lessons to be learned in Stan Lee's reported elder-abuse case
Lee (Charley Gallay/Getty Images)
There are several estate-planning lessons advisors can learn from the controversy surrounding 95-year-old Marvel creator Stan Lee's $50 million estate, which is reportedly the target of financial predators. Experts say helping clients consolidate financial accounts, placing assets in a revocable trust and carefully choosing responsible trustees can help prevent elder abuse.
InvestmentNews (tiered subscription model) (6/15) 
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Estate planning for cohabitating partners may require extra attention
Attorney Letha Sgritta McDowell notes the trend among older couples of cohabitating but not getting married, which she writes can require additional support from advisors regarding estate planning. It is especially important that advisors draft legal documents that support clients' wishes, she writes.
WealthManagement (6/5) 
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Industry Updates & Trends
Affluent young adults cross their fingers for inheritance
Affluent young adults cross their fingers for inheritance
Inheritance is considered vital retirement funding for 63% of affluent Americans ages 18 to 22, according to a Merrill Edge survey. Among respondents, 17% expect money from friends, 17% expect money from grandparents and 14% expect money from extended family.
Bloomberg (tiered subscription model) (6/7) 
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Study evaluates performance of stocks pitched by hedge fund managers
Stocks pitched by hedge fund managers tend to perform more strongly than the overall market both before and after being announced at conferences, as "long pitches spike up and short pitches spike down," according to a study by Harvard University doctoral student Patrick Luo. "These results suggest that these investment conferences are closely followed by other investors and have high market impacts," Luo wrote in the study.
Bloomberg (tiered subscription model) (6/13) 
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Celebrity investors back startup for term insurance
Venture funds headed by Robert Downey Jr., Jay-Z, Will Smith and Kevin Durant are among investors of Ethos Technologies, a startup for term life insurance. Insurance technology is growing in popularity among investors, with venture capitalists putting $9 billion into the industry since 2012, according to CB Insights.
Bloomberg (tiered subscription model) (6/14) 
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Practice Management
Tips for building trust with wealthy clients
A number of advisors offer suggestions for building trust with high-net-worth clients, who may be skeptical and less likely to open up right away. These include connecting with clients on a human level by finding a shared interest and communicating that you understand the challenges of wealth.
Financial Planning online (6/14) 
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Pro skateboarder Tony Hawk shares how he found the right advisors
Professional skateboarder Tony Hawk discusses his journey as a young high-net-worth client seeking financial advice after making a few mistakes with a do-it-yourself approach to financial planning. The group he eventually found to be the right fit was willing to take new approaches and a bit more risk, and the advisors "didn't speak down to me, and that was key," Hawk says.
WealthManagement (6/14) 
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5 steps for effective niche marketing
Niche marketing and word-of-mouth influence have a cause-and-effect relationship, writes Matt Oechsli, who lists 10 of the most common and profitable niches for advisors to target. He also identifies a five-step plan for effective niche marketing that includes developing an advocate in that community and becoming as involved as possible within that niche.
WealthManagement (6/7) 
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Someone's sitting in the shade today because someone planted a tree a long time ago.
Warren Buffett,
investor and philanthropist
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About Investments & Wealth Institute
Established in 1985, the Investments & Wealth Institute, formerly known as IMCA, is a professional association, advanced education provider, and standards body for financial advisors, investment consultants, and wealth managers who embrace excellence and ethics. Through its publications, events, assessment-based certificate programs, and advanced certifications, the Institute delivers premier-quality, practical education to advanced practitioners in more than 38 countries.

The Certified Investment Management Analyst® (CIMA®) certification is the peak international, technical portfolio construction program for investment consultants, analysts, financial advisors and wealth management professionals. The CIMA program is distinctive as one of only a few global certifications in financial services to meet international accreditation and quality standards (ANSI/ISO 17024) for personnel certification programs. The Certified Private Wealth Advisor® (CPWA®) certification is an advanced professional certification for advisors who serve high-net-worth clients. It’s designed for seasoned professionals who seek the latest, most advanced knowledge and techniques to address the sophisticated needs of clients with a minimum net worth of $5 million. Unlike credentials that focus specifically on investing or financial planning, the CPWA program takes a holistic and multidisciplinary approach.

The Investments & Wealth Institute, IMCA®, Investment Management Consultants Association®, CIMA®, Certified Investment Management Analyst®, CIMC®, Certified Investment Management Consultant, CPWA®, Certified Private Wealth Advisor®, RMA, and Retirement Management Advisor are trademarks of Investment Management Consultants Association Inc. doing business as The Investments & Wealth Institute. The Investments & Wealth Institute does not discriminate in educational opportunities or any other characteristic protected by law.
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