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November 29, 2012
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News for investment consulting and wealth management professionalsGo to IMCA® Update

  Top Story 
  • Advisers tell investors to prepare for 3.8% tax
    High-income earners should start planning for the 3.8% tax on investment income that will go into effect Jan. 1 as part of the 2010 Affordable Care Act, advisers say. "High earners don't understand the impact. I have one client, a very high net worth individual with a lot of investment interest, who may owe $1.3 million more," said Joseph Perry, partner-in-charge of tax and services for Marcum. AdvisorOne (11/20) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • Don’t miss the Winter Specialty Conference Next Week!
    The IMCA 2012 Winter Specialty Conference is just a few days away, next Monday and Tuesday, Dec. 3-4. Come to Scottsdale to explore the latest thinking on alternative investing, credit risk strategies, equities in the New Normal, and how to build stronger, more resilient portfolios. Conference presentations include:

    • Desired Target Date Return: Advancing Investment Success | Frank A. Sortino, PhD, pioneer in the development of PMPT, and originator of the Sortino ratio and upside-potential ratio.
    • The Washington Update: An Overview of the Political Environment, Prospective Legislation, and Strategies for Investment and Retirement Planning |Andrew H. Friedman, JD, The Washington Update, LLC, expert on Washington political affairs.
    • Follow the Leader: A New World with New Opportunities | Richard Golod, CIMA®, CIS, INVESCO, global investment strategist.

    Click here to register now. LinkedInFacebookTwitterEmail this Story
  • Attend the AICPA Advanced Personal Financial Planning Conference in January
    IMCA is co-sponsoring the Investment Track of the AICPA Advanced Personal Financial Planning Conference Jan. 21-23 in Las Vegas, and IMCA members receive a registration discount. Conference programming includes the latest techniques, investment strategies, and changes in estate and tax legislation, and guidance on investment management, practice management, and wealth management.

    Click here to register for the conference, and save an extra $100 with discount code IMCAPFP. Register by the Dec. 7 early-bird deadline to save $175. LinkedInFacebookTwitterEmail this Story
  • New IMCA Fax Numbers
    If you fax continuing education (CE) or conferences information to IMCA, please note the new fax numbers below. Remember that CE reporting and conference registrations are available online at

    Certification department: 303.835.0578

    Conferences department: 303.835.0579 LinkedInFacebookTwitterEmail this Story
  • Other News
  Wealth Management 
  • Fixed-income investments are popular, but increasingly risky
    Some $300 billion will be invested in bond funds this year, more than the totals posted for 2010 and 2011, according to Strategic Insight. Fixed-income investments, however, are viewed as increasingly risky, says Michael Gitlin, director of fixed income at T. Rowe Price Group. Yields have become too low for the credit risks, he says. InvestmentNews/The INsider blog (free registration) (11/21) LinkedInFacebookTwitterEmail this Story
  • Strong year is expected for guaranteed-income annuities
    The 2013 outlook is robust for annuity products that offer guaranteed income, says Doug Dubitsky of Guardian Life Insurance. The key is for financial advisers to help clients overcome confusion about the products and to show how effective the products can be in providing retirement income, Dubitsky said. "People have always needed [guaranteed income]. Now they want it," he said. AdvisorOne (11/27) LinkedInFacebookTwitterEmail this Story
  Industry Updates & Trends 
  • Citi exec paints gloomy economic picture
    Richard Cookson, chief investment officer of Citigroup's private bank, has voiced concerns about major economies, saying China's "demographics stink," Europe is on the ropes, and U.S. corporations are overstating balance sheets. Cookson says the only way for investors to profit in this environment is to catch cyclical upswings. Reuters (11/27) LinkedInFacebookTwitterEmail this Story
  • Investment trends in indexed-annuity market raise concerns
    Private equity firms and hedge funds are stepping up investments in the indexed-annuity market, in the expectation that they can earn greater returns than typical insurance investment strategies. Some brokers worry that these companies' investments in the low-interest rate environment will not be able to support some product features, such as promises made on income riders. Indexed annuities sales through the third quarter of 2013 have risen 6% year-over-year to $25.4 billion, according to LIMRA. InvestmentNews (free registration) (11/25), MarketWatch (11/28) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • Superstorm Sandy illustrates need for disaster planning
    People often do not plan for the unexpected because they assume events will proceed along as always, says Barbara Friedberg, a professor of finance at Santa Clara University. But when a disaster happens, such as Superstorm Sandy, investors tend to overreact. Financial advisers should use the example of Superstorm Sandy to educate clients on reasonable financial disaster planning. AdvisorOne (11/26) LinkedInFacebookTwitterEmail this Story
  • Advisers need high-tech approach to attract young clients
    Financial advisers need a high-tech approach to prospecting for younger clients, a study by SEI, Scorpio Partnership and Standard Chartered Private Bank says. Younger investors with significant wealth and a good chance of accumulating more spend three hours a day of personal time online as well as three hours a day at work online, the study found. (11/27) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative Spotlight 
  • Labor Department is expected to ramp up enforcement
    President Barack Obama's re-election means Assistant Labor Secretary Phyllis Borzi will remain in charge of the Employee Benefits Security Administration, and she is expected to enforce new disclosure rules for plan sponsors and plan participants. Industry experts also expect the Labor Department to continue scrutiny of improper or undisclosed pay by plan consultants and investment advisers. InvestmentNews (free registration) (11/18) LinkedInFacebookTwitterEmail this Story
The foolish man seeks happiness in the distance; the wise grows it under his feet."
--James Oppenheim,
American poet, novelist and editor

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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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