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- Investment advisers fear divisive politics will persist
Investment advisers say more divided government appears likely after Tuesday's election results, even as they hope for enough cooperation to resolve pending tax, regulatory and spending issues. "You're going to see the same type of divisiveness we've seen for the last couple years," said Neal Solomon, managing director of WealthPro. "The Democrats will have a strong upper hand, but Republicans are not going to go away." InvestmentNews (free registration)
(11/7), AdvisorOne
(11/7)     
| Policy Update
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- Regulatory uncertainty remains for financial advisers
Financial advisers continue to face possible regulatory changes after the re-election of President Barack Obama. The Securities and Exchange Commission continues to grapple with calls for tougher ethical standards for brokers, while Congress considers an effort to outsource investment-adviser oversight. The Wall Street Journal
(11/9)
- Investors hope Obama will address "fiscal cliff" immediately
Investors and traders say they hope President Barack Obama will quickly go to work to avert the $600 billion "fiscal cliff" of tax hikes and spending cuts. Some investors worry that with Republicans retaining their majority in the House of Representatives, it could be difficult to reach a compromise on budget reform. "This is no time for putting things off until later. We can achieve big things when we work together, and the middle class is counting on us to achieve big things in the months ahead," said Senate Majority Leader Harry Reid, D-Nev. Financial-Planning.com
(11/7), Reuters
(11/7), The Washington Post
(11/7), USA Today
(11/6)
- Congress' top tax writers win re-election
Democratic and Republican tax writers in the House of Representatives and Senate won re-election. They include Reps. Dave Camp, R-Mich., and Sandy Levin, D-Mich., the chairman and ranking member of the House Ways and Means Committee, and Sen. Orrin Hatch of Utah, the ranking Republican of the Senate finance committee. The Hill/On the Money blog
(11/7)
- Groups worry transaction tax will come to U.S.
Investment and business groups expressed concern in a letter to Treasury Secretary Timothy Geithner that a European effort to set up a financial-transaction tax will catch on in the U.S. "Now is not the time to experiment with policies that experience tells us will impede growth, fragment markets, increase market volatility, destroy savings and encourage uneconomic tax-motivated decisionmaking," the groups wrote. The Hill/On The Money blog
(11/6)
| Industry News
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- Alternative investments become open to wider field
Investment strategies offering alternatives to stocks and bonds that previously were accessible only through hedge funds and partnerships are increasingly available to smaller investors, says John Micklitsch, CFA, director of wealth management at Ancora Advisors. Options include "liquid, public mutual funds, exchange-traded funds or closed-end fund formats that are tradable and accessible to retail investors and smaller institutions alike," Micklitsch said. "What this means for investors is the potential to build more diversified portfolios than ever before." Smart Business online
(11/1)
- Financial planners react to a smaller, tougher market
The continuing stagnation of household wealth and retirement assets is prompting financial-planning firms to seek growth through alternative investments, new revenue models, outsourcing and strategic mergers and acquisitions, writes Michael Kitces, citing a presentation by Chip Roame of Tiburon Advisors. Financial planners also are feeling pressure to improve their marketing efforts to compete for a dwindling pool of new clients, Roame said. Nerd's Eye View blog
(11/5)
| Income Planning
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- Retirement prospects darken for younger workers
Public and private employers increasingly are reducing pension benefits, a trend that is hitting young workers harder than their older colleagues. The situation leaves the next generation's retirees with a bleak future, Michael Fletcher writes. Many companies are making severe cuts for new hires to preserve benefits for existing employees. The Washington Post
(11/5)
| Business Best Practices
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- Changing trends that financial advisers must track
The role of financial adviser has evolved to include a greater focus on risk management, says Jeff Montgomery, CEO of AFAM/Innealta Capital. How advisers address their practice structure is another change. "Practice structure is not just succession," Montgomery said. Due diligence practices and the client model itself are also changing trends for advisers. AdvisorOne
(11/1)
- Advisers work to overcome hurdles in succession planning
Transferring a financial-advisory practice ahead of retirement poses challenges such as finding a willing successor and preparing clients for the transition, experts say. Some advisers select family members to take over their practice, and others are guided by firms that offer succession planning for their agents. Financial Advisor online
(11/6)
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