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Adviser gets sacked after ripping off her NFL linebacker client
What Jeff's reading today: Jail time for adviser who ripped off her NFL linebacker client, plus: the taper question, 98% chance of a market crash next year, the yen-dollar trade, New Yorkers dodge taxes, and (surprise!) Congress wastes your money.
Longtime Vanguard portfolio manager Granahan set to step back
When John “Jack” Granahan starts talking about past market bubbles, he begins with the “nifty 50” that saw investors pushing up the value of a tight group of stocks in the early 1970s. “That’s the first market bubble I can remember,” said the co-founder and chairman of Granahan Investment
Do your clients really need long-term care insurance?
Plus: Hedge funds load up on GM stock, Greenspan call Bitcoin a bubble, JPMorgan confirms cardholders were hacked, and Briton get bullish
Iran nuke accord is already moving markets
Plus: Fed taper could hit savers hard, new scrutiny on company stock in K plans, the stocks hedge funds love and Consumer Report's annual "naughty and nice" list. All in today's Breakfast with Benjamin.
Mutual funds not in 'too big to fail' category
To prevent a repeat of the financial crisis, the federal government is continuing the process of identifying financial firms that are deemed “too big to fail.”
Goldman sees increased risk factors facing commodities
Plus: Emerging markets get dicey, butting heads with Buffett, hedging with ETFs, more Bitcoin buzz
Pershing integrates third-party tech into NetX360 adviser platform
NetX360 will now offer portfolio management and re-balancing solutions from Blaze Portfolio and Portfolio Pathway, as well as Laser App forms management and configuration tools. In addition, NetX360 users will have access to Ebix Smart Office CRM software via a single sign-on.
G. Moffett Cochran, Silvercrest Asset Management CEO, dies at 63
Chairman and CEO of Silvercrest Asset Management, which advises families, endowments, foundations and other institutional investors and had $14.6 billion under management, had raised more than $1 million for the Robert L. Fine Cancer Research Laboratory Foundation.
As hedge funds grow, funds of funds get clipped
With three straight months of inflows, the hedge fund industry now boasts a record $2 trillion in assets. The $469 billion funds-of-hedge-funds business, however, has had just two months of net inflows in the past 24. Jeff Benjamin on what's going on.
Crowdfunding gets entrepreneurs knocking on wealth manager's door
FMB Wealth Management is offering entrepreneurs a crowdfunding platform that provides access to big-money accredited investors whose deep pockets can make a difference for startups.
Invest in growth, not geography, American Funds says
An adviser building an equity portfolio is very likely doing so around global benchmark indexes such as the S&P 500 or the MSCI EAFE, but according to American Funds, there is a better way.
Fidelity launches bond funds to weather uncertain markets
The fund giant is offering clients a new way to prosper in uncertain debt markets.
Rate revolution forces advisers to be bond kings
Thanks to the threat of rising rates, it's no longer a set-it-and-forget-it world. Now advisers have grabbed the core bond fund crown from Bill Gross and Jeffrey Gundlach, taking control over their own bond portfolios.
Don't condescend to Gen Y women
Advisers who can show how they can make a person's financial life easier — without coming off as condescending — will find an enthusiastic audience in Generation Y women, experts said.
John Sykes' JHS Capital Advisors challenged by annual losses, handful of Finra arbitration claims
John Sykes' first broker-dealer holding company, GunnAllen Holdings, is out of business and his second, JHS Capital, has sustained significant losses and faces a handful of Finra arbitration claims. Bruce Kelly reports.
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Dorothy Weaver Founder & CEO, Collins Capital
Liz Ann SondersChief Investment Strategist, Charles Schwab Corp.