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April 18, 2013
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News for investment consulting and wealth management professionalsGo to IMCA Update

  Top Story 
  • IMF cites austerity in reducing growth forecast
    The International Monetary Fund has scaled back its global growth forecast for this year from 3.5% to 3.3%, saying government spending cuts, including those in the U.S., and Europe's economic stagnation are holding back growth worldwide. The IMF called on the U.S. and the U.K. to relax austerity. The IMF changed its projection for the eurozone from 0.2% contraction to 0.3% shrinkage. USA Today (4/16), The Guardian (London) (4/16), Financial Post (Canada) (4/16) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • Last chance: Your IMCA 2013 Annual Conference is almost here
    Only 10 days remain until the IMCA 2013 Annual Conference in Seattle, April 28–May 1. If you haven't registered, time is running out fast, and you don't want to miss this special content:

    • A new workshop, "What Top-Performing Advisors and Teams have in Common," presented by the Aite Group. The presentation outlines new research about the value of CIMA® certification and highlights the earning power, job satisfaction, and business growth of advisors who hold a variety of financial certifications.
    • Unique insight into what investors really want with renowned behavioral finance expert, professor and author Meir Statman. Listen to or read a recent interview with Statman and Conference Committee Chair Brian Ullsperger.
    • A different take on the causes of and responses to the financial crisis with Neil Barofsky, former federal prosecutor and Special Inspector General for the Troubled Asset Relief Program (SIGTARP). Read more about Barofsky’s perspective.

    Register now at LinkedInFacebookTwitterEmail this Story
  • Best of IMCA coming to Indianapolis on May 14 and Dallas on June 11
    The 2013 Best of IMCA series premiered in Toronto last month, and the series continues in Indianapolis on May 14 before moving to Dallas on June 11. Sponsored exclusively by Eaton Vance, Best of IMCA also takes place in Atlanta, California, and Boston later this year. Each day-long event is created in collaboration with top-25 business school faculty and leading investment and wealth advisory practitioners, and IMCA members and all financial professionals are welcome.

    Visit for more information and to register. LinkedInFacebookTwitterEmail this Story
  • 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 latest survey on portfolio construction topics, produced in collaboration with Cerulli Associates. All survey respondents will have the chance to win a free 2013 conference registration, up to $950 in value, and each respondent will receive the Cerulli Edge® Q1 2013 Advisor Edition, which focuses on advisor movement, portfolio discretion, planning fees, and a number of other topics. Participate in the 2013 IMCA survey now.

    Don't miss this opportunity to win a conference registration and 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
  • Other News
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  Wealth Management 
  Industry Updates & Trends 
  • Obama's retirement-deduction limits seen likely to be adopted
    President Barack Obama's proposals to limit U.S. tax breaks for retirement savings and investments are being criticized by both parties, but they stand a good chance of being voted into law, Washington insiders say. "The president stakes out some compromise positions, so we should take this proposal more seriously than past versions, which were often deemed dead on arrival," said Derek Dorn, a partner at Davis & Harman, a law firm whose clients include service providers and retirement-plan sponsors. Pensions & Investments (free access for SmartBrief readers) (4/15) LinkedInFacebookTwitterEmail this Story
  • Experts: Proposed IRA limits could drive move to life insurance
    Experts say life insurance could gain favor if IRAs are limited to a maximum value of about $3 million, a proposal included in President Barack Obama's budget plan. Investors whose IRAs are above the limit may consider withdrawing and paying taxes on the proceeds, then reinvesting them in life insurance products, where their assets can grow tax-deferred, accumulate cash value and be paid out to beneficiaries free of income or estate taxes, experts say. InvestmentNews (free registration) (4/9) LinkedInFacebookTwitterEmail this Story
  • Survey: Wealthy investors increase selective use of advisers
    Individuals with more than $5 million in investable assets are making more selective use of financial advisers and taking more direct control of their investments than they did before the recession, according to a survey by Phoenix Marketing International. Before the downturn, 39% of high-net-worth investors made selective use of advisers, but the percentage has increased to 61%, the survey found. (4/4) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • Reputation tops referrals for new-client leads, study finds
    Just 11% of clients cite referrals as the main reason why they chose their adviser, according to a recent Cerulli survey. A more important factor was adviser reputation, the survey found. Content marketing is one way to build a reputation as an expert, especially among younger investors who research online, writes Brian Lauzon, managing principal of AdvisorAssist. (U.S.) (4/15) LinkedInFacebookTwitterEmail this Story
  • Advisers should spend more time with clients, firms say
    A majority of wealth-management firms say it is important for financial advisers to have more face-to-face meetings with clients and are investing in technology to give advisers time to achieve that goal, according to a survey by Ernst & Young. About 75% of respondents say they have launched efforts to give advisers more face time with clients. (4/15) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative Spotlight 
  • Budget proposal reignites battle over regulators' resources
    President Barack Obama has requested funding increases for the Commodity Futures Trading Commission and the Securities and Exchange Commission, reviving the dispute over how much money the agencies should receive to supervise Wall Street. Since the Dodd-Frank Act went into effect, the White House has sought additional funding for the regulators and congressional Republicans have resisted. The Hill/On the Money blog (4/13) LinkedInFacebookTwitterEmail this Story
  • CFTC and SEC set rules for identity-theft detection
    The Securities and Exchange Commission and the Commodity Futures Trading Commission have approved measures requiring mutual funds, investment advisers, and stock and futures brokers to set up programs to spot identity theft. "These rules are a common sense response to the growing threat of identity theft to all Americans," said Mary Jo White, who became head of the SEC on Wednesday. Reuters (4/10), The Wall Street Journal/Washington Wire blog (4/10) LinkedInFacebookTwitterEmail this Story
Beware the barrenness of a busy life."
Greek philosopher

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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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