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December 20, 2012
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Advocating Direct Investments through Education

  Top Stories 
  • Fewer barriers, high-return appetite boost alternative investments
    With barriers for smaller investors removed and amid growing demand for higher returns and diversification, alternative investments are rapidly gaining customers. As a result, big brokerages with products such as private-equity offerings, nontraditional mutual funds and market-linked investments are seeing increased business. "Clients who are seeking the diversification that comes from alternative investments can invest in them and maintain liquidity," said Andy Sieg, head of global wealth and retirement solutions at Merrill Lynch. "It broadens the set of clients for whom these are appropriate." The Wall Street Journal (12/14) LinkedInFacebookTwitterEmail this Story
  Policy Update 
  • New SEC chairman names division chiefs
    Securities and Exchange Commission Chairman Elisse Walter has named two new acting directors to oversee the SEC's divisions of corporation finance and of trading and markets. Lona Nallengara will replace Meredith Cross as corporation finance chief, while John Ramsay will take over from Robert Cook as trading and markets director. AdvisorOne (12/17) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • LPL Financial faces lawsuit by Mass. regulator
    A Massachusetts regulator has sued LPL Financial, alleging violations of prospectus rules and investment-concentration requirements. At issue are sales of nontraded real estate investment trusts from 2006 to 2009. "We believe the claims included in the complaint are substantially overstated. ... We have always endeavored to promote a strong culture of compliance and continue to do so," an LPL spokesman said. Reuters (12/12), AdvisorOne (12/12), American City Business Journals/Boston (12/12) LinkedInFacebookTwitterEmail this Story
  Income Planning 
  • Alternative investment funds create challenge for advisers
    Financial advisers face a particular challenge selling alternative investment funds. Given full-disclosure requirements for such products, advisers need to learn a great deal about illiquid alternative investments contained in the funds. "We spend a lot of time with broker-dealers and advisers educating them how this fits in the client's portfolio," said Ray Lucia Jr., portfolio manager of the $35 million Multi-Strategy Growth & Income Fund, the largest such fund. "It's an alternative investment, while others are saying it's like a mutual fund." InvestmentNews (free registration) (12/16) LinkedInFacebookTwitterEmail this Story
  Business Best Practices 
  • Advisers share lessons learned from lost prospects
    Top advisers offer several lessons from potential high-net-worth clients that they failed to land. Among their tips: Don't bring experts from outside your firm to early meetings with a prospective client; remember to treat the client as a person, not a potential commission; and recognize when the prospect's goals differ from your own. (12/17) LinkedInFacebookTwitterEmail this Story
  IPA Member Information 
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  Editor's Note 
  • IPA Newsbrief will not publish Dec. 27
    IPA Newsbrief will not be published Dec. 27. Publication will resume Jan. 3. Enjoy the holidays! LinkedInFacebookTwitterEmail this Story
To be without some of the things you want is an indispensable part of happiness."
--Bertrand Russell,
British philosopher, mathematician and historian

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