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October 25, 2012
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Advocating Direct Investments through Education

  Top Stories 
  • Expect plan for fiduciary standard in 2013, Schapiro says
    Securities and Exchange Commission Chairman Mary Schapiro says she is confident that the commission will produce a fiduciary standard for investment advisers and broker-dealers next year. "The devil is in the details, but I'm more confident that we will get it done, not less," Schapiro said. AdvisorOne (10/23) LinkedInFacebookTwitterEmail this Story
  Policy Update 
  • 3 key financial issues that slipped candidates' minds at debates
    Investor protection, reform of the retirement industry and real estate failed to get any significant mention during the presidential debates, write Ian Salisbury, Jonnelle Marte and AnnaMaria Andriotis. "These pocketbook issues haven't gotten much airtime, but they're likely to have a big impact on consumers and investors," they note. MarketWatch (10/23) LinkedInFacebookTwitterEmail this Story
  • Report: Investment advisers faced more state actions last year
    The number of civil, administrative and criminal actions taken against investment advisers nearly doubled in 2011 after state regulators were given oversight of midsize firms, according to the North American Securities Administrators Association. The number of actions increased to 400 following the transfer of oversight from the Securities and Exchange Commission, which had limited resources for examining the firms. The overall number of enforcement actions by state regulators declined to 2,600 in 2011. Reuters (10/23) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Regulators should rethink money-fund reform, Financial Times warns
    In what Crane Data calls "a first for major media coverage," the Financial Times ran two articles Sunday questioning regulators' approach to money-fund reform and warning that careless or over-enthusiastic regulatory action could cause damage to the broader financial system. "If regulators are going to propose further changes they should first commission independent impact studies of the likely ramifications," writes Steve Johnson. Crane Data (subscription required) (10/22), Financial Times (tiered subscription model) (10/21), Financial Times (tiered subscription model) (10/21) LinkedInFacebookTwitterEmail this Story
  • Advent of credit futures cheers dealers
    IntercontinentalExchange plans to trade futures contracts based on Markit's European and North American corporate credit default swaps. "The number of users of credit products has grown exponentially. ... People are looking at easier ways to trade than currently exist, and this seems to fit the bill," an unidentified senior credit trader at a U.S. bank said. International Financing Review (free content) (10/20) LinkedInFacebookTwitterEmail this Story
  • David Lerner Associates must pay customers $12M, FINRA says
    The Financial Industry Regulatory Authority ordered David Lerner Associates to pay $12 million to elderly and unsophisticated investors whom it persuaded to buy shares in Apple REIT Ten without determining whether the investment was suitable for them. FINRA also fined the firm $2.3 million for charging unfair prices for collateralized mortgage obligations and municipal bonds. Reuters (10/22) LinkedInFacebookTwitterEmail this Story
  Income Planning 
  • Seniors should get ready to cope with "fiscal cliff"
    Seniors who are retired or approaching retirement should consider altering investments to reduce volatility, as the "fiscal cliff" of tax hikes and spending cuts nears, said Roy Larsen, a certified financial planner at Larsen Wealth Management. "Many alternative assets and strategies should be considered, such as absolute-return strategies, long/short funds, managed futures, nontraded [real estate investment trusts] and tactical- or opportunistic-allocation strategies," he said. Deposit Accounts (10/21) LinkedInFacebookTwitterEmail this Story
  • How retirees can avoid outliving their money
    Retirees can better manage their investments by using them to generate a monthly paycheck that won't run dry, consulting actuary Steve Vernon writes. The options for doing this, Vernon writes, include living off only interest and dividends from invested savings, purchasing an immediate annuity from an insurance company and living off the benefits, or drawing down principal from savings slowly with a monthly withdrawal. CBS MoneyWatch (10/22) LinkedInFacebookTwitterEmail this Story
  • Alternative investments hold most promise in "correlation crisis"
    Investment strategies that part from the beaten path present the most promise in the next five years, during which the global economy likely will remain unsettled, alternative-investment strategist Gabriel Burstein said. In what he called a "correlation crisis," a technical quantitative approach is "probably one of the major sources of returns," Burstein said, especially in less-explored markets for alternative assets. InvestmentNews (free registration) (10/22) LinkedInFacebookTwitterEmail this Story
  • Analysis: So-called REIT bubble is nothing to worry about
    A warning about a bubble in real estate investment trusts based on price-earnings ratios is misleading because such ratios are irrelevant to REIT investors, commercial real estate broker Brad Thomas writes. Investors and analysts can get a better picture of a REIT's performance over time by looking at funds from operations, he notes. Seeking Alpha (10/19) LinkedInFacebookTwitterEmail this Story
  Business Best Practices 
  • A business plan is a must-have for financial advisers
    Creating a business plan is an essential step for all financial advisers, writes Eric Sheikowitz of Focus Partners. Describing where your business is, where you want it to be and how you plan to get there with specific strategies and tactics is one of the best ways to improve your earning power as an adviser, Sheikowitz writes, and he notes that 80% of advisers making $1 million or more have business plans. On blog (10/17) LinkedInFacebookTwitterEmail this Story
  IPA Member Information 
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Sometimes we stare so long at a door that is closing that we seek too late the one that is open."
--Alexander Graham Bell,
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