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December 27, 2012
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News for investment consulting and wealth management professionalsGo to IMCA Update

  Top Story 
  • Advisers are confident Congress will pass AMT patch
    Nobody knows for sure if or when Congress will pass this year's inflation adjustment for the alternative minimum tax, commonly known as the AMT patch, but most financial advisers assume it will be adopted. Many are already working on calculations for their clients telling them what they will have to pay in taxes, based upon that assumption. The Wall Street Journal (12/21) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • Phyllis Borzi added to the IMCA 2013 Annual Conference speaker lineup
    IMCA is proud to announce an exciting new addition to its 2013 Annual Conference Speaker lineup: Assistant Secretary of Labor at the Employee Benefits Security Administration Phyllis C. Borzi. Recently named one of the 20 People to Watch in 2013 by Investment News, Borzi will address the fiduciary issue for consultants -- history, current status and future -- in a super session presentation on April 29. Ms. Borzi will provide insight into the Department of Labor's expected proposal to amend the fiduciary definition under ERISA in 2013 despite significant industry opposition.

    Visit for the entire list of speakers and to register for the conference. LinkedInFacebookTwitterEmail this Story
  • Don't miss the early-bird deadline of January 4 for the IMCA 2013 New York Consultants Conference
    IMCA's 2013 New York Consultants Conference is coming up quickly, February 4-5 at the New York Marriott Marquis in Times Square, and the early-bird registration deadline is January 4. Speakers and sessions include:

    • Ian Bremmer, PhD, Eurasia Group | The End of the Free Market: Who Wins the Wars Between the Corporations?
    • Richard Bernstein, MBA, Richard Bernstein Advisors | Fear and Indecision: Sounds Like a Bull Market
    • Alex Williams, MBA, UBS |The Evolution of Wealth Management

    Click here for additional conference details and to register now. LinkedInFacebookTwitterEmail this Story
  • IMCA introduces CIMA Certification Prep Center
    Last week, IMCA introduced a new Certification Prep Center designed to help CIMA® certification candidates organize their studies and prepare for exams throughout the certification process. Average initial pass rates in 2012 for the CIMA qualification exam and CIMA certification exam are 60 percent and 53 percent, respectively.

    "On average, CIMA certification candidates devote 300 hours to self-study," said Sean R. Walters, CAE, executive director and CEO at IMCA. "Our new prep center provides a broad array of resources to help candidates better understand the subject matter upon which they are tested."

    Click here for more information. LinkedInFacebookTwitterEmail this Story
  • 2013 Best of IMCA Series sponsorship available
    The Best of IMCA seminar series brings advanced content to financial advisors at a local level in daylong events in cities with high concentrations of established financial professionals.  The sole sponsor of the series has the opportunity to network throughout the year at a grassroots level with more than 600 IMCA-member attendees and other financial professionals. The six seminars will be held in: Atlanta, Boston, Dallas, Indianapolis, Orange County, CA, and Toronto, ON.  If your firm is interested in sponsoring the Best of IMCA series, e-mail Lara Davies for more information. LinkedInFacebookTwitterEmail this Story
  • Other News
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  Wealth Management 
  • Bill Gross' advice on how to beat the wealth tax
    PIMCO's Bill Gross has been tweeting about how clients can beat the expected wealth tax. Among his suggestions: Buy intermediate Treasurys, invest in 5-10 year TIPS in the U.S. and U.K. as well as invest in emerging economies such as Brazil and Mexico. Forbes (12/22) LinkedInFacebookTwitterEmail this Story
  • Commodities may have ended its "super cycle"
    Investment in commodity funds rose 92% compared to 2011, to reach $21.6 billion, according to EPFR Global. A Citigroup report finds that the "super cycle" of returns is now over as China growth slows. "Commodities tend to be victims of their own success," says Jack Ablin, chief investment officer of BMO Private Bank. Financial Advisor online (12/18) LinkedInFacebookTwitterEmail this Story
  • How to wean clients from their overweight cash positions
    Clients who want to maintain an overweight position in cash but still generate single to mid-teen returns can be a challenge, writes Dan Richards, a faculty member in the MBA program at the University of Toronto. He offers four tips to gently move such clients off of some of their cash holdings -- be empathic, take baby steps, look at alternatives to stocks and show them star investor Warren Buffett's bearish take on the bond market. Advisor Perspectives (12/26) LinkedInFacebookTwitterEmail this Story
  Industry Updates & Trends 
  • Money managers acquire hedge fund-of-funds
    Five of the 25 largest hedge funds-of-funds managers either have changed their ownership structure or will in the first quarter of 2013. Large multiasset-class money managers are interested in investing in hedge funds-of-funds firms to round out their investment lineup. "Hedge funds of funds are a good solution for traditional money managers that need to add alternative investment capabilities," said Franklin H. Kettle, managing director of Colchester Partners. Pensions & Investments (free registration) (12/24) LinkedInFacebookTwitterEmail this Story
  • Most investors have multiple advisers, analysis shows
    About 70% of clients have placed their assets under the management of more than one financial adviser or directed brokerage account, but few advisers are aware of the situation, according to an analysis by Cerulli Associates. Only 17% of advisers are aware of clients' accounts that aren't under their supervision, Cerulli found. InvestmentNews (free registration) (12/19) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • Wealth-building goals for advisers in 2013
    Veteran advisers cannot stay mired in past strategies and business practices that brought them success, writes Matt Oechsli, author of "Building a Successful 21st Century Financial Practice: Attracting, Servicing and Retaining Affluent Clients." Instead, advisers need to be continually expanding wealth-management solutions, connecting with outside experts and improving the personal service that clients are receiving. (U.S.) (12/25) LinkedInFacebookTwitterEmail this Story
  • Advisers eye an 8.4% increase in ROA for 2013
    Financial advisers expect to see a rise in return on assets in 2013, according to Russell Investments' Financial Professional Outlook. Two-thirds of respondents believe this metric -- the ratio of a firm's revenue to assets under management -- will show 8.4% growth on average. "ROA provides insight into the revenue efficiency of the adviser's asset base," says Sam Ushio, practice management consultant for Russell's U.S. adviser-sold business. Financial Advisor online (12/19) LinkedInFacebookTwitterEmail this Story
  • Tech developments that advisers can expect next year
    Clients increasingly will demand mobile applications in 2013, experts say. Integrating technology, outsourcing specialized work and increasing social media activity are among other top technology trends for advisers in the new year, Joyce Hanson writes. AdvisorOne (12/19) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative Spotlight 
When one man, for whatever reason, has the opportunity to lead an extraordinary life, he has no right to keep it to himself."
--Jacques Cousteau,
French naval officer and explorer

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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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