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March 22, 2012
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News for investment consulting and wealth management professionalsGo to IMCA Update

  Top Story 
  • Financial advisers take heat for Wall Street's scandals
    When scandal breaks out on Wall Street, it is often financial advisers who must deal with clients' anxiety by assuring them their money is safe. Advisers should anticipate calls from clients and have talking points ready. "It's a perfect opportunity to emphasize why they're with you," said Mike Kostoff, managing director of wealth-management consultancy The Kostoff Group. Reuters (3/20) LinkedInFacebookTwitterEmail this Story
  IMCA Update 
  • Don't miss the 2012 Annual Conference Early-Bird Registration Deadline Tomorrow!
    IMCA's 2012 Annual Conference at The Gaylord National Resort and Convention Center, April 23–25, near Washington, D.C., is coming up quickly, and the early-bird registration deadline is tomorrow. The three-day event is one of the best-attended in the industry, thanks to a quality lineup of peer-reviewed content. Don't miss the chance to save $100 on your registration! Speakers and topics at this year’s conference include:

    • Gregory R. Valliere, chief strategist at the Potomac Research Group, a nonpartisan firm that monitors economic and political developments for investors, will offer an insider's perspective on the current Washington landscape.
    • Patrick Lencioni, author of Getting Naked, A Business Fable about Shedding the Three Fears that Sabotage Client Loyalty, will shed light on the three fears that sabotage client loyalty and how to provide "naked service" to yield uncommon levels of client trust.
    • David Kelly, PhD, CFA®, JPMorgan Funds, Kurt Reiman, UBS Financial Services, and John Mauldin, Millennium Wave Advisors, will offer key perspectives and strategic insights on the current investment environment as part of the always-popular strategist round table.

    View the conference brochure and register today at LinkedInFacebookTwitterEmail this Story
  • Influence the Industry and Enter for a Chance for a Free Conference Registration
    Note: The 2012 IMCA survey website was down last week because of a serious transformer fire near the Cerulli Associates offices in Boston. We apologize for any inconvenience if you tried the survey and could not access the site. Click here to participate in the 2012 IMCA survey panel now.

    Influence your peers and the direction of the investment consulting and wealth management professions by participating in IMCA’s survey panel, produced in collaboration with Cerulli Associates. All survey respondents receive a complimentary copy of Cerulli® Edge—Advisor Edition, 1st Quarter 2012: Intermediary Distribution Landscape. Respondents who complete the initial 25-minute profile panel by March 31 will be entered into a drawing for one of three prizes:

    • A complimentary 2012 IMCA Annual Conference registration (IMCA will refund your fee if you already registered).
    • A complimentary IMCA specialty conference registration.
    • A complimentary Best of IMCA seminar registration.

    Click here to participate in the 2012 IMCA survey panel now. LinkedInFacebookTwitterEmail this Story
  • Other News
  Wealth Management 
  • Tips for advising your clients on venture capital investing
    Executives who spoke at Tiger 21’s annual conference gave some advice for financial planners whose high-net-worth clients are looking for opportunities in the private equity and venture capital market. Private equity and venture capital deals require an investment horizon of about 10 years, one expert said. Planners should also factor in their clients' investment styles when choosing opportunities and consider looking abroad as well as at home. (3/19) LinkedInFacebookTwitterEmail this Story
  • Why clients shouldn't wait to record capital gains
    Higher tax rates for capital gains are coming, which means investors need to adjust their tax strategies, Michael Kitces writes. Instead of the old strategy of recording capital losses, investors should think about "harvesting gains" before tax rates increase in 2013. That means selling investments this year and repurchasing them to minimize the gains that will be taxed down the road. Nerd's Eye View blog (3/14) LinkedInFacebookTwitterEmail this Story
  • World is recovering, but this is no time to relax
    Evidence of a global economic recovery is real, but the level of optimism it has created deserves skepticism, according to The Economist. Growth is likely to be slower this year than last. In the U.S., stimulus should focus on higher wages, affordable housing, increased health care spending and pensions. "[I]f policymakers get it wrong again, the recovery could yet turn to dust," the magazine notes. The Economist (3/17) LinkedInFacebookTwitterEmail this Story
  • Other News
  Industry Updates & Trends 
  • UBS Wealth Management to hire 500 for overseas markets
    UBS Wealth Management plans to hire 500 advisers for its Asia Pacific and emerging markets business over the next several years. The company says the worldwide wealth management market will grow at double the pace of the global economy, as a result of growth in emerging markets. Along with Asia Pacific, UBS also plans to invest in operations in regions including India, the Middle East, Latin America and Central and Eastern Europe. Registered Rep. (3/16) LinkedInFacebookTwitterEmail this Story
  • Baird lures 12 advisers with $1.8 billion under management
    Baird has hired 12 advisers from Morgan Stanley, Wells Fargo and Schwab for its private wealth-management business. The new hires, who will work in Baird's offices in Colorado, Florida and North Carolina, have combined assets under management of roughly $1.8 billion. AdvisorOne (3/20) LinkedInFacebookTwitterEmail this Story
  • Other News
  Practice Management 
  • Some advisers are trying client meetings via Skype
    Advisers who face difficulties in meeting with clients in person are experimenting with Skype as an alternative, some in the field say. The videoconferencing tool works best with longtime clients, says Alex Wingert, social media specialist at "Advisers are finding more ways to extend their offices. Skype can be a useful tool for advisers," Wingert says. InvestmentNews (free registration) (3/15) LinkedInFacebookTwitterEmail this Story
  • Meeting higher fiduciary standards calls for better technology
    The debate about adoption of an industrywide fiduciary standard so far has overlooked the contribution technology can make toward helping advisers do a better job of acting in their clients' best interests. Broker-dealers will need improved wealth-management technology to make the transition, according to a study by the financial-services unit of Citi. (3/15) LinkedInFacebookTwitterEmail this Story
  • Tips for maximizing your PR impact
    Small and midsize firms need to rethink their approach to public relations if they want to stand out from the crowd, Gordon G. Andrew writes. The "carnival barker" approach to PR is ineffective, he writes, because clients are often distracted by too much media. Instead, firms need to focus on building their credibility through focused, high-value publicity that can be promoted over time using digital tools. (3/16) LinkedInFacebookTwitterEmail this Story
  Regulatory & Legislative Spotlight 
  • High-frequency traders face few changes since flash crash
    The May 2010 flash crash prompted regulators to pledge changes, particularly for high-frequency traders, which were faulted for exacerbating the sell-off. However, nearly two years later, high-frequency trading remains largely the same as it was before the crash. Regulators have implemented a few small changes, but have yet to make significant moves to ensure a repeat does not occur, Matthew Philips writes. Bloomberg Businessweek (3/19) LinkedInFacebookTwitterEmail this Story
  • Financial advisers await clarification on 12(b)-1 fees
    Financial advisers will receive guidance about revenue sharing and 12(b)-1 fees when the U.S. Labor Department unveils a revised fiduciary rule. The agency is drafting a series of exemptions to prohibited transactions for advisers working with retirement plans, said Deputy Assistant Labor Secretary Michael Davis. InvestmentNews (free registration) (3/19), Reuters (3/19) LinkedInFacebookTwitterEmail this Story
  • Funds pressure the SEC over proposed money market rules
    Members of the money market fund industry are joining forces against proposed rules being considered by the Securities and Exchange Commission that could increase capital buffers and impose a floating net asset value. The changes "would drive a lot of providers out of the business immediately and those left would have a product that no one wants to buy," Investment Company Institute President Paul Schott Stevens says. The SEC argues the rule are necessary to ensure the stability of money market funds in case of another financial crisis. InvestmentNews (free registration) (3/18) LinkedInFacebookTwitterEmail this Story
  • Other News
Be sincere; be brief; be seated."
--Franklin D. Roosevelt,
32nd U.S. president

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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

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