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March 21, 2013
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News for investment consulting and wealth management professionalsGo to IMCA Update

  Top Story 
  • Fund fees under SEC spotlight
    The Securities and Exchange Commission is more closely scrutinizing the fees charged by hedge funds and other private investment advisers. Fees have "always been an area of interest for SEC examiners. As fiduciaries, hedge fund advisers need to develop policies and procedures that allocate their fees and expenses fairly," an SEC spokesman said. The Wall Street Journal (3/19) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • IMCA's 2013 Annual Conference Is Only Five Weeks Away!
    IMCA's 2013 Annual Conference is coming up quickly, April 28–May 1, at the Washington State Convention Center in Seattle. Don’t miss the chance to better your business and experience the most in-depth lineup of speakers at any industry conference this year. General session speakers include:

    Dan Ariely, PhD, James B. Duke Professor of Behavioral Economics at Duke University, and author of New York Times bestsellers Predictably Irrational and The Upside of Irrationality and most recently The (Honest) Truth About Dishonesty: How We Lie to Everyone—Especially Ourselves.

    Nassim Nicholas Taleb, Distinguished Professor of Risk Engineering at New York University Polytechnic Institute, and author of multiple bestsellers including The Black Swan (3 million copies sold) and his most recent, Antifragile: Things that Gain from Disorder.

    Meredith Whitney, renowned expert in the finance industry, hailed as "The Oracle of Wall Street" by Bloomberg, named one of the world’s 100 Most Influential People in 2009 by TIME, and one of Fortune's 50 Most Powerful Women in Business for the past four years.

    Visit for conference details and to register. LinkedInFacebookTwitterEmail this Story
  • Best of IMCA Is Underway!
    The 2013 Best of IMCA series premiered earlier this week, kicking off in Toronto on Tuesday. The series, sponsored exclusively by Eaton Vance, includes additional seminars this year in Atlanta, California, Dallas, Indianapolis and Boston. Each day-long event is created in collaboration with top-25 business school faculty and leading investment and wealth advisory practitioners, and is open to both IMCA members and other financial professionals.

    "Eaton Vance is delighted to partner with IMCA in creating an advanced training environment that enables current and prospective members to be highly educated and informed on topics of great interest and benefit to them and their clients," said John Moninger, CIMA®, CPWA®, AIF®, Director of Retail Sales at Eaton Vance, and IMCA board member.

    Learn more about Best of IMCA. LinkedInFacebookTwitterEmail this Story
  • Call for Nominations: IMCA Board of Directors
    Have you ever considered serving on IMCA's 13-member board? Any IMCA member may nominate themselves or another member as a candidate. Once your nomination is presented to the Nominating Committee, potential candidates will be asked to complete a nomination application. IMCA's Nominating Committee will consider the application for any board member seats that open within the next two years. Aside from IMCA membership, there are no mandatory criteria for an individual to be nominated to serve on the IMCA Board. However, service on IMCA committees is a plus, and so is involvement in other national associations.

    For more information, or to nominate a member for the board of directors, please contact Sean Walters, IMCA executive director, via e-mail at, or phone 303-850-3089. To be considered for the 2013 Board nominations, nomination applications must be received by June 30, 2013. LinkedInFacebookTwitterEmail this Story
  • Other News
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  Wealth Management 
  • Non-deductible IRAs as a shelter from Medicare surtax
    The non-deductible IRA has lost its luster in the past few years, writes Michael Kitces, but that may change as more people realize its new advantage: It provides a way to permanently avoid the new 3.8% Medicare surtax on net investment income. High-income earners are well poised to benefit from this strategy, Kitces writes, because they would likely find a Roth conversion unappealing. Nerd's Eye View blog (3/13) LinkedInFacebookTwitterEmail this Story
  • Tax planning opportunities under ATRA
    Higher-income clients have some options for avoiding tax increases this year under the American Taxpayer Relief Act. For example, holders of Series E bonds can report all accrued interest in 2012 to avoid the higher income tax rate and the 3.8% Medicare tax, and tax-free IRA distributions to charities can reduce adjusted gross income. Morningstar (3/14) LinkedInFacebookTwitterEmail this Story
  Industry Updates & Trends 
  • Hedge fund directors worry about FATCA
    The Foreign Account Tax Compliance Act is a large concern for many hedge fund directors, according to an industry poll. "These managers went from light regulation to having to comply with significant new regulations, reporting requirements and government oversight," respondent Derek Delaney said. "This stretched many investment managers from an operational support perspective." The Wall Street Journal/Corruption Currents blog (3/19) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  Regulatory & Legislative Spotlight 
  • GOP economist reportedly is examined for SEC post
    Michael Piwowar, the Senate banking committee's head Republican economist, reportedly is being vetted for a spot on the Securities and Exchange Commission. If Piwowar is nominated and confirmed, he will be the only economist on a panel that traditionally comprises lawyers. He could occupy the seat of GOP Commissioner Troy Paredes, whose term ends in June. Bloomberg (3/18) LinkedInFacebookTwitterEmail this Story
  • Adviser oversight isn't working, FINRA chief says
    Investment advisers must face regular and vigorous exams to ensure that investors are protected, and that is not happening, said Richard Ketchum, CEO of the Financial Industry Regulatory Authority. Speaking to a consumer group, Ketchum also said investment advisers and brokers should face the same fiduciary standard. Some experts say a single standard could pave the way for FINRA to oversee advisers, a role the agency has sought in the past. The Wall Street Journal (3/14) LinkedInFacebookTwitterEmail this Story
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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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