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June 14, 2012
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News for investment consulting and wealth management professionalsGo to IMCA® Update

  Top Story 
  • Vote delayed on Bachus adviser SRO bill
    The House Financial Services Committee is delaying action on a bill that would shift supervision of advisers from the Securities and Exchange Commission to one or more self-regulatory organizations. The committee had planned to vote in June but now is not scheduled to do so. Opponents of the bill say the delay is a chance to continue pushing for an alternative. InvestmentNews/Washington INsider blog (free registration) (6/11) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • CIMA┬« Certificants: Register for The Best of Wharton by Tomorrow to save $100!
    Return to where your CIMA certification training started at the 2012 Advanced CIMA® Workshop: The Best of Wharton, July 16–17, at The Inn at Penn near The Wharton School on the University of Pennsylvania campus. This conference is designed for current CIMA and CIMC® certificants, and attendees will hear a wide range of topics, including economic outlook, wealth management trends, and new thinking on stock price valuation.

    Click here to view the complete program, and register by the June 15 (tomorrow) early-bird deadline to save $100. LinkedInFacebookTwitterEmail this Story
  • Alternatives and Hedge Funds Analyzed in Latest Investments & Wealth Monitor
    Investors who resist buying investments based on flashy past performance will be rewarded with several benefits, including increased risk-return efficiency, according to an article in the latest Investments & Wealth Monitor. Click here for the article, and view the entire May/June publication online here. LinkedInFacebookTwitterEmail this Story
  • IMCA Member Recognized with Ellis Island Medal of Honor
    IMCA member David Hirsch was one of 104 individuals recognized with the 2012 Ellis Island Medal of Honor at a ceremony on Ellis Island on May 12. The event honored individuals who have made a significant difference from a humanitarian perspective.  Others honorees included: Army Chief of Staff Gen. Raymond T. Odierno, Ray "Boom Boom" Mancini, First Lady of El Salvador Dr. Vanda Pignato, Robert Trent Jones, Sr., and Brooke Shields. Visit for more information. LinkedInFacebookTwitterEmail this Story
  • Other News
  Wealth Management 
  • Are wealthy Americans paying too much in taxes?
    Wealthy Americans hold the key to the U.S.'s economic future, Gil Weinreich writes. The ongoing crisis in Europe offers proof that over-taxation and government control can undermine growth. Meanwhile, a recent analysis found that the richest 400 U.S. citizens paid roughly the same amount in taxes as the bottom 50% of the citizenry. The U.S. should be careful to avoid making mistakes similar to those made in Europe, Weinreich writes. AdvisorOne (6/8) LinkedInFacebookTwitterEmail this Story
  • Trusts offer tax-saving strategies ahead of 2013
    Martin Shenkman writes about some of the issues wealthy clients should consider this year to prepare for a tax increase in 2013. Now may be the time to take advantage of the current gift-tax exemption to transfer assets into a trust for future beneficiaries. However, clients will need to decide how much they are willing to transfer. Meanwhile, couples who create trusts could run the risk of triggering the reciprocal trust doctrine, which could have unwanted tax implications. (6/1) LinkedInFacebookTwitterEmail this Story
  • Survey: Big investors hedge portfolios with nonfinancial assets
    Wealthy investors are increasingly putting their money into tangible items such as artwork and collectibles as an alternative to stocks, according to a survey by Barclays Wealth. Millionaires are putting about 9.6% of their wealth on average into nonfinancial assets. About half of respondents said they have purchased paintings and other fine art, an increase of 8% from 2007. Bloomberg Businessweek/Bloomberg (6/11) LinkedInFacebookTwitterEmail this Story
  Industry Updates & Trends 
  • Family Office Exchange names who's who of wealth managers
    The Family Office Exchange has created a list of high-quality advisers for wealthy families. The list is intended for families with at least $20 million in investible assets and ranks firms based on competence, experience and other factors. InvestmentNews (free registration) (6/10) LinkedInFacebookTwitterEmail this Story
  • Other News
  Practice Management 
  • Advisers gain efficiency through automatic rebalancing
    Using technology to automate client portfolio rebalancing can reduce advisers' time spent on that task to 100 hours a year, down from 350 hours, a TowerGroup report says. In recent years, independent broker-dealers have begun adopting such automation, following the lead of regional firms and wirehouses. (6/11) LinkedInFacebookTwitterEmail this Story
  • Tips for working with entrepreneurial clients
    Clients who are wrapped up in running their businesses often overlook the importance of financial planning, according to Seth Streeter, co-founder of Mission Wealth Management. Financial planners can step in to help develop a succession plan that can protect a company's long-term value and ensure financial stability for entrepreneurs and their families. (6/11) LinkedInFacebookTwitterEmail this Story
  • Don't overlook young investors, Pershing director says
    It's time for advisers to start focusing on younger investors, says Pershing Advisor Solutions Director Gabe Garcia. Clients who are in Generations X and Y will become increasingly important as baby boomers grow older, Garcia said. Advisers will need to adapt their practices to cater to younger investors, who tend to be more cynical and independent than older clients. (6/7) LinkedInFacebookTwitterEmail this Story
  • Other News
  Regulatory & Legislative Spotlight 
  • Switch to state oversight may not make SEC's work easier
    State regulators are scheduled this month to assume oversight of about 2,400 investment advisers from the Securities and Exchange Commission -- but that might not significantly ease the federal agency's workload. About 10,000 investment advisers will remain under the SEC's purview, and the reshuffle will leave the agency responsible for overseeing about 12% more in terms of assets under management. Reuters (6/7) LinkedInFacebookTwitterEmail this Story
  • Other News
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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.

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