IMCA Defines Wealth Management
IMCA released a white paper last week detailing the findings of a comprehensive job analysis that defines the practice of wealth management. In addition to clarifying what constitutes a private wealth advisor, IMCA will use the analysis to refine the experience, education, examination, and ethics requirements of its Certified Private Wealth Advisor® (CPWA®) certification program. "Until now, no clear definition of private wealth advice or wealth management existed in the financial services industry," said Sean R. Walters, CAE, executive director and CEO at IMCA.
Click here for the white paper, and click here for the press release announcement.
Register Now for the Winter Specialty Conference Next Month
The IMCA 2012 Winter Specialty Conference is coming up quickly on December 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:
- The Crisis of Crowding: Stories from the Financial Crisis of 2008 | Ludwig B. Chincarini, PhD, CFA®, University of San Francisco and IndexIQ
- The Looming Storm of Debt, Deficits, and Demographics | Robert D. Arnott, Research Affiliates LLC
- Portfolio Strategy in a Post-MPT World | Ken Solow, CFP®, CLU, ChFC, Pinnacle Advisory Group
Click here to register now.
Your IMCA ID Number: What Does it Mean?
Your IMCA ID number is a unique identifier assigned to you. You should use it when attending a continuing education (CE) program from an accepted CE provider or submitting CE to IMCA. You can find your IMCA ID number online in two places:
1. After logging in to your My IMCA account, your IMCA ID number is in the contact information box above your name.
2. If you are already logged into My IMCA and visit the IMCA homepage, your ID number is located in the white "My IMCA" dashboard near the bottom-right part of the page.
Visit www.imca.org/user to log into your My IMCA account, and contact IMCA’s certification department at firstname.lastname@example.org with any questions about your IMCA ID number.
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and do not reflect actual IMCA endorsements. The news reported in SmartBrief
does not necessarily reflect the official position of IMCA.
Mass affluent more positive about finances
Confidence about finances is rising among the mass affluent compared to six months ago, according to the Bank of America Fall 2012 Merrill Edge Report.
Nearly three quarters surveyed are still worried their retirement assets will not last through their lifetime -- a drop from 83% half a year ago. "This improvement is not just indicative of a changing mindset -- we're seeing our clients take action," says Dean Athanasia, president of preferred and small business banking at Bank of America. Financial Advisor online
|Industry Updates & Trends
Study: Hedge fund managers invest based on cash raised
Hedge fund managers tend to base their investment positions more on the cash they can raise, rather than any projections they might have about the market, according to a Bank of America research report.
"We found that asset flows may be impacting hedge fund positioning," analysts at Bank of America Merrill Lynch wrote in the report. Because of the net outflows in hedge funds, managers might not be able to make bullish bets. Reuters
Advisers need to focus on long term to build value in a practice
Independent advisory firms tend to treat their business as a current source of income instead of concentrating on developing "real enterprise value," according to the Alliance for RIAs. As a result, such a firm's value will stagnate around the time the owner wants to exit the business. Long-term structural issues need to be addressed if an adviser wants to build value. AdvisorOne
Changing trends that financial advisers must track
The role of financial adviser has evolved to include a greater focus on risk management, says Jeff Montgomery, CEO of AFAM/Innealta Capital. How advisers address their practice structure is another change. "Practice structure is not just succession," Montgomery said. Due diligence practices and the client model itself are also changing trends for advisers. AdvisorOne
|Regulatory & Legislative Spotlight
FSOC releases recommendations for money market funds
The Financial Stability Oversight Council has approved three recommendations that would stabilize money market funds in the face of a run like that of 2008. The three options it recommends are: Allow the net asset value to float; establish a 1% capital buffer along with redemption restrictions; or maintain a 3% capital buffer. These recommendations are now available for a 60-day public comment period. InvestmentNews (free registration)
EU might regulate money market funds
Money market mutual funds and securities-lending agreements are expected to be part of the European Commission's call for legislation to regulate shadow banking. "The overall objective is to make sure that our new regulations do not result in pushing activities to the world of shadow banking," said Stefaan De Rynck, spokesman for EU Internal Market Commissioner Michel Barnier. "To reach this goal, we will no doubt come forward with new legal initiatives in the next year on issues such as money market funds and securities lending." Bloomberg
Based in Denver, Investment Management Consultants Association®
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®
Certified Investment Management Analyst®
) certification, the only
advanced certification designed specifically for investment consultants.
also delivers the advanced credential for wealth management professionals
working with high-net-worth clients, the Certified Private Wealth Advisor®
) certification. Visit
for more information.
and Investment Management Consultants Association®
trademarks of Investment Management Consultants Association Inc. CIMA®
Certified Investment Management Analyst®
, and Certified
Private Wealth Advisor®
are registered certification marks of Investment
Management Consultants Association Inc. Investment Management Consultants
Association Inc. does not discriminate in educational opportunities or
practices on the basis of race, color, religion, gender, national origin,
age, disability, or any other characteristic protected by law.
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