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January 31, 2013

Advocating Direct Investments through Education

Top Stories

IPA unveils certification course on nonlisted REITs
Amid concerns about the sale of nonlisted real estate investment trusts, IPA is introducing the first dedicated course in the field under the IPA Alternative Investment Proficiency Certification Series. The program includes instruction on incorporating nontraded REITs in a broader portfolio, identifying appropriate clients and clarifying how such REITs work, as well as laying out tax advantages. Learn more about the Proficiency Certification Series. Financial Advisor online (1/29)

Policy Update

FINRA agrees with proposed arbitrator restrictions
The Financial Industry Regulatory Authority has asked the Securities and Exchange Commission to approve a proposal to prohibit people associated with mutual funds or hedge funds from arbitrating disputes between brokerages and clients. The move, however, does not address concerns over whether financial professionals can be "public arbitrators," a category that can include other varieties of professionals. Reuters (1/28)

How Mary Jo White should fix the SEC's image problem
The Securities and Exchange Commission has a reputation for being politicized and inefficient and for letting too many crimes go unpunished. Mary Jo White, whom President Barack Obama has nominated as the next SEC chairman, could address that image problem by forcing a resolution on money-fund reform, setting a high standard for fraud cases and confronting Congress about a lack of funding and needed reforms, writes Moshe Silver. CNNMoney/Fortune/Term Sheet blog (1/29)

Industry News

Asset-management fees for alternative investments decline
Alternative investments were the only asset class to experience "a material drop" in asset-management fees in 2012, according to Mercer Investment Consulting's latest fee survey. The drop in fees is reflective of the shift away from defined-benefit pensions to defined-contribution plans for retirement investing. AdvisorOne (1/22)

Hybrid advisers top fee-only ones in asset growth
Assets under management of dually registered financial advisers, who can accept fees and commission, are increasing faster than those of fee-only advisers, according to Cerulli Associates. Hybrid advisers' assets increased 19.1% in 2012, while fee-only advisers' assets expanded 14.7%. Financial-Planning.com (1/23)

Mass. scrutiny spurs LPL internal crackdown
LPL Financial is informing registered representatives and investment advisers that it is cracking down on sales of leveraged, inverse and monthly reset mutual funds. In particular, LPL is seeking more direct control. The move comes amid sharper regulatory scrutiny across the industry. InvestmentNews (free registration) (1/27)

Income Planning

Retirement-plan rules create opportunities for advisers
The Labor Department's recent fee-disclosure requirements, along with a proposal that is expected this spring broadening the definition of "fiduciary," opens up opportunities for advisers to work with 401(k) plan sponsors. The work, however, can come with risks and costs, according to a Broadridge Financial Solutions report. InvestmentNews (free registration) (1/28)

Study: Long-term-care costs are investors' top financial worry
Americans worry more about paying for long-term care than they do about having enough money for retirement, a study from UBS Wealth Management Americas says. About a quarter of respondents said they were "highly worried" about paying for health care in old age, compared with 14% who expressed that level of concern about having sufficient retirement savings. OnWallStreet.com (1/28)

SmartQuote

I attribute my success to this: I never gave or took any excuse."

--Florence Nightingale,
British social reformer, nurse and statistician

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