Report: Advisors with charitable-giving knowledge attract HNW clients | Register now for the Wealth Advisor Forum in October | The case against internal designations
August 2, 2018
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Report: Advisors with charitable-giving knowledge attract HNW clients
A US Trust report found 40% of high-net-worth clients are more likely to choose an advisor with knowledge about charitable giving. The report also showed a majority of wealthy individuals believe that an advisor who takes part in philanthropic efforts is more valuable.
WealthManagement (7/20) 
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Investments & Wealth Update
Register now for the Wealth Advisor Forum in October
The upcoming Wealth Advisor Forum, Oct. 8-9, in Chicago, is designed to provide insight, effective strategies, and real-world tools to help financial professionals distinguish themselves in the high-net-worth (HNW) and ultra-high-net-worth (UHNW) market. Registration is now open. For early-bird pricing register by Sept. 7.
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The case against internal designations
Companies often do a terrific job on training and development, but should leave it to the professionals when it comes to denoting competency. Sean Walters, CAE, Chief Executive Officer at the Institute, makes a case for why companies should move away from internal designations. Read more.
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Advanced Business Strategist in collaboration with Wharton Executive Education
Advanced Business Strategist, Sept. 13-14, in Philadelphia, is offered in collaboration with Wharton Executive Education and will draw on key faculty and content from Wharton's MBA program. Advanced Business Strategist registration is now open. For discounted early-bird pricing register by Aug. 17.
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Emotional intelligence to more effectively engage clients
Financial advising requires a unique mix of traditional intelligence and emotional intelligence. To do your job successfully, you must not only understand the concepts of the profession, but must have the emotional intelligence. Daniel Goleman made this case at ACE—Nashville. Read more from his talk.
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Wealth Management
Impact investing could offer clients tax breaks
Clients who invest capital gains in a fund that invests in low-income communities deemed "qualified opportunity zones" could see capital gains taxes deferred, reduced or even eliminated. "It's a really powerful investment tool for people who are in highly appreciated stock or have a business they have sold or are coming out of a real-estate deal and have a lot of gains they want to defer," says Derek Uldricks, president of Virtua Capital Management.
InvestmentNews (tiered subscription model) (7/30) 
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Commentary: What drives wealthy people to donate money
Although wealthy clients and their advisors generally have the goal of maintaining and growing wealth, some clients may come to a point in which they feel the need to become self-actualized, writes Greg Warner, CEO of MarketSmart. Clients often find that giving away money makes them feel joyful and alive, he notes.
WealthManagement (7/23) 
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Discover planning needs on wealthy clients' tax returns
The majority of high-net-worth taxpayers are likely to use their tax returns for financial planning purposes, according to an American Institute of Certified Public Accountants survey. For example, minimal 1099 activity "raises the concern that the client may not have much of a balance sheet and may be spending more of their income than may be healthy," notes David Levi, CPA, PFS.
Financial Advisor online (7/16) 
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Industry Updates & Trends
Report: Hedge funds see $3B outflow in Q2 as assets exceed $3.32T
Hedge funds experienced their first quarterly outflow since the first three months of 2017 as investors withdrew about $3 billion in the second quarter of this year, with macro hedge funds taking the biggest hit, according to a Hedge Fund Research report. The industry's assets under management, meanwhile, have surpassed $3.32 trillion for an eighth straight quarter of increases, the report says.
Pensions & Investments (free access for SmartBrief readers) (7/20),  Bloomberg (tiered subscription model) (7/19) 
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FINRA asks advisors how it can encourage fintech innovation
The Financial Industry Regulatory Authority is asking advisors to suggest what it can do to stimulate innovation in financial technology. FINRA said in a notice to member firms it wants to back fintech advancement "without adversely affecting investor protection or market integrity."
InvestmentNews (tiered subscription model) (7/30) 
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Practice Management
Study: Successful advisors give high priority to tech
The most successful registered investment advisors and fee-based advisors -- those with $500,000 or more in annual income or $250 million or more in assets under management -- set themselves apart from their competitors by making use of innovative technologies, including artificial intelligence, to guide the customer experience, according to a study commissioned by Nationwide Advisory Solutions. The study showed the most successful advisors also tend to be marketing innovators.
PlanAdviser online (7/23) 
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Advisors' desire for in-person meetings may not align with HNW clients' wishes
A report from FactSet finds that 44% of high-net-worth investors' interactions with their financial advisors occur online, with the number increasing to 48% among people worth more than $20 million, and a recent Hartford Funds survey shows the majority of advisors say they prefer in-person meetings. Ryan Neal writes that there may be a "disconnect between what clients want and what [advisors] think their clients want."
InvestmentNews (tiered subscription model) (7/27) 
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Regulatory & Legislative Spotlight
White House eyes $100B tax cut that bypasses Congress
The Trump administration is considering adopting a $100 billion tax cut through a procedure that wouldn't require congressional action. The US Treasury Department could amend regulations to let taxpayers account for inflation when calculating tax liabilities on capital gains, Secretary Steven Mnuchin says.
CNBC (7/30),  The New York Times (tiered subscription model) (7/30) 
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Survey: Financial professionals want ICOs regulated
The 2018 Cryptocurrency Survey from Foley & Lardner found that 84% of financial professionals wanted initial coin offerings regulated by the US government. In addition, 68% said ordinary purchases and sales of cryptocurrencies should be regulated.
Pensions & Investments (free access for SmartBrief readers) (7/23) 
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I never lie down at night without reflecting that -- young as I am -- I may not live to see another day.
Wolfgang Amadeus Mozart,
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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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