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February 7, 2013
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News for investment consulting and wealth management professionalsGo to IMCA Update

  Top Story 
  • Both bears and bulls speak at IMCA conference
    Two speakers at the Investment Management Consultants Association conference had differing viewpoints on the market's direction. Eurasia Group founder Ian Bremmer took a bearish stance on the global economy, warning that state capitalism is overtaking the free markets in several countries. By contrast, Richard Bernstein of Columbia University was optimistic, saying that overvaluation isn't possible in a climate of uncertainty. "That word uncertainty is like a billboard screaming at you that there are opportunities in equities," he said. AdvisorOne (2/4) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • Win a conference registration in 2013!
    Influence your peers and the direction of the investment consulting and wealth management professions by participating in IMCA's survey, produced in collaboration with Cerulli Associates. All survey respondents will have the chance to win one of three free conference registrations, up to $950 in value, and each respondent will receive the Cerulli Edge® 4Q 2012 Advisor Edition, which focuses on investor sentiment, client portfolios, and passive investing. Participate in the 2013 IMCA survey now.

    Hundreds of IMCA members participated in the survey last year. Don't miss this opportunity to help shape the industry by providing input on the issues impacting your practice and the profession. Data gathered will be used in IMCA's Research Quarterly, produced in collaboration with Cerulli Associates. LinkedInFacebookTwitterEmail this Story
  • Go Digital. Read the latest Investments & Wealth Monitor on the Mobile App
    If you haven't downloaded the Investments & Wealth Monitor mobile app, now is a great time to do so to read the recently published January/February 2013 issue on geopolitics and government. With the new app, you can:
    • Read current and past issues of Investments & Wealth Monitor, free for IMCA members.
    • Download available issues and access them offline at any time.
    • Share content with colleagues via e-mail and social media.
    To download the free app, visit your device's marketplace and search "Investments & Wealth Monitor," or follow these links: Android smartphone or tablet. iPhone or iPad at Apple App Store. LinkedInFacebookTwitterEmail this Story
  • Increase your firm's visibility among top financial professionals
    Is your firm seeking to reach top financial professionals in an exclusive-sponsor setting? The 2013 Best of IMCA seminar series provides the opportunity to network throughout the year at a grassroots level with more than 600 IMCA-member attendees and other established financial professionals. The first seminar is in Toronto on March 19, and dates for the remaining locations (Atlanta, Boston, Dallas, Indianapolis, and Orange County, Calif.) are coming soon.

    If your firm is interested in sponsoring the Best of IMCA series, e-mail Lara Davies for more information. Visit for more information about Best of IMCA and to register for an event. LinkedInFacebookTwitterEmail this Story
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  Wealth Management 
  • Wealth management firms eye single-family rentals
    Single-family rentals are a growing asset class, now attracting high-net worth individuals. JPMorgan Chase's wealth management unit is investing client money in a partnership that has acquired single-family homes for rent in Arizona, Nevada, Florida and California. Returns are expected in the 8% range. Morgan Stanley is approaching the market by lending to high-net worth customers to purchase their own investment properties. Bloomberg (2/4) LinkedInFacebookTwitterEmail this Story
  • Decades of low returns await investors, report says
    For the next 20 to 30 years, annualized worldwide returns on equities will reach 3% to 4% and less than 1% on bonds, according to a report by London Business School and Credit Suisse. Since 1980, real returns on equities and bonds have exceeded 6%, but those days are over, the report says. Many institutions still assume "unrealistic" returns of 6 to 8 percentage points higher than inflation, the report says. Pensions & Investments (free registration) (2/5) LinkedInFacebookTwitterEmail this Story
  Industry Updates & Trends 
  • Planning becomes more integrated with software advances
    Digital technologies such as cloud computing and the growth of application programming interfaces are changing the financial planning industry. These developments have made data more accessible and portable than ever, writes Michael Kitces. Integration of CRM, portfolio management and reporting, and financial planning software is getting tighter and more seamless as well. Nerd's Eye View blog (1/28) LinkedInFacebookTwitterEmail this Story
  • Other News
  Practice Management 
  • Crossing the line into white-collar crime
    Walter A. Pavlo Jr. was an executive at MCI WorldCom who went to prison for accounting fraud. Speaking at the Investment Management Consultants Association's New York Consultants Conference this week, Pavlo told advisers and wealth managers that they must be vigilant about sticking to their ethics standards. Crossing the line into fraud is easier than one might think, he said. "You need to know that good people go to jail," Pavlo said. (2/5) LinkedInFacebookTwitterEmail this Story
  • The facts of life for clients when they divorce
    A financial adviser must be ready to deal with a number of factors when clients divorce. For example, while divorcing couples generally say they want to maintain the status quo, the financial pressures of maintaining two households and child-support payments often prohibit that. Long-term care insurance may be warranted, since the spouse will no longer be available as a caregiver in later years. Divorcing couples often act emotionally instead of rationally when it comes to various decisions, including financial planning. Morningstar Advisor (1/2013) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative Spotlight 
  • SEC is expected to proceed with fiduciary duty this summer
    The Securities and Exchange Commission could be ready this summer to seek feedback about how a uniform fiduciary duty for brokers and financial advisers would work and for ways to conduct a cost/benefit analysis. Observers say a proposal in Congress to establish a self-regulatory organization for advisers has been met with bipartisan opposition. InvestmentNews (free registration) (2/3) LinkedInFacebookTwitterEmail this Story
  • Obama calls for short-term budget deal
    President Barack Obama urged Congress to pass a package of stop-gap tax increases and spending cuts quickly to avert deep across-the-board reductions in military and domestic spending that will automatically take effect March 1. He said the action would give lawmakers time to work out a comprehensive deficit-reduction plan that would put automatic sequestration of funds to rest permanently. Obama said there is no need to endanger "the jobs of thousands of Americans." The New York Times (tiered subscription model) (2/5), Reuters (2/5), Bloomberg (2/5) LinkedInFacebookTwitterEmail this Story
I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel."
--Maya Angelou,
American author and poet

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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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