Deals for nonlisted REITs pick up as deadlines approach | FINRA's bonus proposal gains support of big brokerages | Fiduciary rule is seen as key SEC consideration for White
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March 14, 2013
IPA Newsbrief
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Deals for nonlisted REITs pick up as deadlines approach
A rebound in the property market is generating activity among nonlisted real estate investment trusts, as many companies come up against deadlines to return money to investors. "All indications are that investment bankers will be very busy. There will be mergers and acquisitions, there will be [initial public offerings] and there will be secondary offerings," said Daniel Goodwin, chairman and CEO of The Inland Real Estate Group of Cos., the largest sponsor of nonlisted REITs. Bloomberg Businessweek (3/7)
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Policy Update
FINRA's bonus proposal gains support of big brokerages
The four biggest retail brokerages are all supporting the Financial Industry Regulatory Authority's new plan to mandate that brokerages disclose to clients any "enhanced compensation" they pay to brokers. The comment period for the rule ended last week, although it must be approved by the Securities and Exchange Commission before it can become law. The Wall Street Journal (tiered subscription model) (3/11)
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Fiduciary rule is seen as key SEC consideration for White
Mary Jo White has outlined her priorities for the Securities and Exchange Commission, including a focus on a fiduciary rule for investment advisers and broker-dealers, before the Senate banking committee. White, President Barack Obama's nominee to lead the SEC, also highlighted a need for the agency to strengthen its enforcement role and complete Dodd-Frank Act rules. AdvisorOne (3/11)
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Industry News
Cole III plans dividend boost after acquiring manager, sponsor
A dividend increase to 70 cents a share is in store as Cole Credit Property Trust III prepares to acquire asset manager and sponsor company Cole Holdings. The acquisition includes an upfront payment of $127 million in cash and stock to Cole Holdings management and founder Chris Cole. InvestmentNews (free registration) (3/10)
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U.S. ranks 19th on index of retirement quality
The cost of health care and the government's diminishing ability to support retirees resulted in a U.S. ranking of 19th on the Natixis Global Retirement Index, which measures quality of life. Norway and Switzerland were among several European nations, as well as Japan, that outranked the U.S. In contrast to many other countries, "in the U.S., we encourage workers to plan, save and invest, and promote policies that help them meet their future needs," said John Hailer of Natixis Global Asset Management. Financial Advisor online (3/7)
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Income Planning
The ins and outs of asset-location prioritization
An increase in retirement-savings vehicles for taxpayers invites a discussion of not which asset classes should be owned and in what amounts but where those asset classes should be held, Michael Kitces writes. Studies indicate that good asset location can average about 20 basis points of "free" return and as much as 52 basis points for retirees. "[T]he benefits of asset location are becoming so recognized that a new array of low-cost variable annuities are coming to the marketplace to serve as an asset location vehicle by allowing clients to 'buy' tax deferral buckets for a reasonable price," Kitces writes. Nerd's Eye View blog (3/6)
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Survey: Advisers recommend mutual funds most often
A survey of 300,000 financial professionals by Advisors Perspective found that mutual funds are the most commonly recommended investments, followed by common stocks, exchange-traded funds and variable annuities. Half of the surveyed advisers said they recommend real estate to clients, while 37% recommend fixed annuities, the survey found. National Underwriter Life & Health (3/7)
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Business Best Practices
The habits and work practices of successful advisers
Successful advisers maintain certain work habits. This piece looks at work habits that support client service, client acquisition, practice leadership and good time management. Financial Advisor online (3/6)
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Why content marketing works for financial services
Marketing veteran Angela Long details five reasons content marketing fits naturally with financial services. For example, customers want to know that financial-services firms understand them and their businesses. "Demonstrating your expertise through your content will build on your client's confidence in you," she writes. Reputation Capital Media Services (3/7)
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IPA Member Information
Be part of something big!
The IPA 2013 Spring Conference: Investor Focused Innovation is scheduled May 8 to 10 at the Capital Hilton in Washington, D.C. Room block for hotel rooms ends April 16! Our agenda is shaping up to be the best yet! Register!
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Humor is just another defense against the universe."
-- Mel Brooks,
American actor and film director
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About IPA
The Investment Program Association (IPA) was formed in 1985 to provide effective national leadership for the direct investment industry. The IPA supports individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors. These investments include public non-listed REITs (NLREITs) and Business Development Companies (BDCs), Energy and Equipment Leasing Programs, and private equity offerings. For the last 28 years, the IPA has successfully championed the growth of such products, which have increased in popularity with financial professionals and investors alike. Direct investments are held in the accounts of more than 2 million individual investors, and the IPA's member companies operate or have properties in all 50 states. The mission of the IPA is advocating direct investments through education. Access the wealth of IPA educational materials here, or visit the IPA online for more information about becoming a member.
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