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- Senate rejects 30% "Buffett rule" tax on the rich
The "Buffett rule" that would set a minimum 30% tax rate on the wealthiest Americans failed to get enough votes to pass in the Senate. The 51-45 party-line vote in favor of the measure backed by President Barack Obama fell short of the 60 votes needed to overcome solid Republican opposition. Bloomberg
(4/17)     
| IMCA Update | | |
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IMCA’s Annual Conference is Next Week—Download the Conference Mobile App!
Good news for procrastinators: It’s not too late to register for the 2012 Annual Conference at The Gaylord National Resort and Convention Center near Washington, D.C., next Monday through Wednesday, April 23-25. The three-day event is IMCA’s biggest of the year and one of the most highly regarded in the industry, thanks to a quality lineup of peer-reviewed content. Don’t miss the opportunity to experience quality presentations you won’t see elsewhere.
IMCA’s 2012 Annual Conference Mobile App is now available, featuring a customizable schedule, maps, conference programs, real-time alerts, access to social media, and much more. iPhone and Android users should search their App Store or App Market for: IMCA. All phone users, including BlackBerry, may access the app by pointing their mobile browser to: http://m.core-apps.com/imca2012ac
View the conference brochure and register today at www.IMCAAnnualConference.org, or register in-person at the conference next week.
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Be A Pioneer by Helping Define the Private Wealth Advisory Profession
As a certification body, IMCA® develops its Certified Private Wealth Advisor® (CPWA®) certification program using knowledge from practitioners like you. This is the only way to determine what truly constitutes a private wealth advisor in today’s complex financial landscape. Please help us shape the industry’s definition of wealth management by participating in a CPWA job task analysis survey. Participating makes you eligible for:
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Entry into a drawing for one of three $1,000 cash prizes.
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Entry into a drawing for one of three Apple iPads.*
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A complimentary summary of the findings once they are finalized. (Aug./Sept).
The survey closes on Monday, May 7. Take the CPWA job task analysis survey today at www.IMCA.org/main/do/CPWAsurvey.
Please note: Analyzing a profession is in-depth and specific, so this survey, which can be completed in segments, can take up to an hour to complete. *Apple is not a participant or sponsor of this promotion.
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Check out IMCA’s Award-Winning Advertising
Page M11 of this week’s Barron’s features IMCA’s award-winning CIMA certification print advertisement. The Business Marketing Association of Colorado recognized the ad as a Golden Key award winner in the business-to-business print ad campaign category. Each ad entry was independently reviewed by judges and scored in four categories: Creativity, Production, Selling Proposition and Results.
In addition to this week’s Barron’s, watch for the ad in the weeks to come in publications like Investment News, Financial Advisor, Registered Rep, and OnWallStreet.
| Wealth Management | | |
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- Some planners say wait and see on estate-tax changes
Planners are divided over how to help clients prepare for estate-tax changes, Michael Kitces writes. There's a risk that clients could engage in permanent transactions while Congress may decide to extend exemptions or estate-tax rates. One approach is to take advantage of current rates. Another approach is to choose options that allow for flexibility to respond to tax-law changes. Nerd's Eye View blog
(4/10)
- Survey highlights anxieties among rich investors
Eighty percent of millionaires said that continued slow economic growth is their biggest worry during the first quarter, an increase of 10% over last year, according to a survey by Spectrem Group. Meanwhile, investors with more than $5 million in assets identified the national debt and politics as their biggest concerns. Financial-Planning.com
(4/17)
- Wealthy families look to grow their fortunes in Asia
A growing number of wealthy families from the Americas and Europe are opening up family offices in Asia. Singapore is among the most popular destinations, with its modern luxuries and proximity to booming Asian economies. "The families want to be where the action is," UBS Executive Director Munish Dhall says. Reuters
(4/17)
| Industry Updates & Trends | | |
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- Financial-advisory M&A climbed in Q1
Mergers and acquisitions of financial advisories increased in the first quarter, and deals grew bigger, according to Charles Schwab. Seventeen firms were sold or merged, compared with 15 in Q1 of 2011, Schwab said. Reuters
(4/18)
- Bank of Montreal buys CTC Consulting
Bank of Montreal has inked a deal to purchase Oregon-based CTC Consulting in a bid to target ultra-high-net-worth wealth clients. The bank will combine CTC with its Harris MyCFO LLC wealth-management division. CTC currently has about $23 billion under management. Financial Post (Canada)
(4/12)
| Practice Management | | |
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- Planning firm mixes psychology and financial advice
A financial advisory firm is hoping to understand its clients better with the help of a certified psychologist. Personal Financial Consultants recently hired Brad Klontz, a psychologist and financial planner, to serve as its first money coach. Psychology can help planners understand how clients relate to money and improve their decision making, Klontz says. RIABiz.com
(4/16)
- What intellectual advisers gain from transparency rules
There are two types of planners in the world: those who rely on their personality to sell services and those who rely on their professional skills, Jack Waymire writes. The latter type is bound to prosper as investors and regulators increasingly look for transparency. That's because truly skilled planners are happy to document and provide their qualifications to potential clients. "The only advisors who can afford to practice transparency are high quality professionals who have nothing to hide," Waymire writes. RIABiz.com
(4/11)
| Regulatory & Legislative Spotlight | | |
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- SEC makes effort to bulletproof rule-making
The Securities and Exchange Commission is working to ensure its rule-making withstands heightened scrutiny after criticism of the way it analyzes the economic impact of measures. The regulator instructed staffers to offer stronger economic justification as they draft rules. Reuters
(4/16), The Wall Street Journal
(4/16)
- JOBS Act opens door to hedge-fund marketing efforts
The newly passed JOBS Act includes a provision that will allow hedge funds to advertise to investors for the first time in 80 years. Hedge funds will still be limited to working with accredited investors and will have to comply with regulations prepared by the Securities and Exchange Commission. The SEC has 90 days to revise its rules following the law's passage earlier this month. The Wall Street Journal
(4/16)
| SmartQuote | | |
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 | People who enjoy meetings should not be in charge of anything."
--Thomas Sowell,
American economist, philosopher and writer
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| Contact IMCA |
Phone: (303) 770-3377
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| About IMCA |
For 25 years, IMCA® (Investment Management Consultants AssociationSM) has delivered the premier investment consulting and wealth management designations and world-class educational offerings
including membership, conferences, certificate programs, and publications. The cornerstones of IMCA are its designations. The Certified Investment Management AnalystSM, or CIMA®, is the only advanced
designation designed specifically for investment consultants. And the Certified Private Wealth AdvisorSM, or CPWA®, delivers the advanced designation for wealth management professionals working with
high-net-worth clients. For more information, visit
www.IMCA.org.
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| | Recent IMCA Insight Issues:
- Thursday, April 05, 2012
- Thursday, March 22, 2012
- Thursday, March 08, 2012
- Thursday, February 23, 2012
- Thursday, February 09, 2012
| | | Lead Editor: Tom Anderson
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