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Articles by Fran Kinniry
Help Clients And Grow Your Practice With Behavioral Coaching
Financial advisors have an important role to play in helping investors make decisions and take actions that may initially seem counterintuitive. Research has shown that behavioral coaching—acting as an emotional circuit-breaker—is one of the most important services an advisor can provide. Through behavioral coaching, advisors help their clients stay committed to their long-term financial plans in both good and bad markets, thus helping to give them the greatest chance for investment success.
Can You Replicate The Results Of Top Endowments?
Over the past 25 years, prominent endowments have made headlines with their remarkable performance. Not surprisingly, many advisors aspire to replicate the results achieved by the top endowments for their clients. But is it realistic? For the past 15 years, when the results from the annual NACUBO-Commonfund study become available, I’ve compared how a broadly diversified, low-cost balanced portfolio would have performed against the endowment universe.
Can you replicate the results of top endowments?
Over the past 25 years, prominent endowments have made headlines with their remarkable performance. Not surprisingly, many advisors aspire to replicate the results achieved by the top endowments for their clients. But is it realistic? For the past 15 years, when the results from the annual NACUBO-Commonfund study become available, I’ve compared how a broadly diversified, low-cost balanced portfolio would have performed against the endowment universe.
Why do you invest?
I recently did something I haven’t done in a long time—bowl. Over the holiday break, my family and I spent an afternoon at an all-in-one family fun center where we sang karaoke, played ping-pong, and bowled, all under one roof. After lacing up our rental shoes (which are just as stylish as I remember!), we entered our names on the board and chose our bowling balls. I started out shaky, but I’m proud to say my game steadily improved over 10 frames.
Why we believe in active and passive-No ifs or buts
I’m always a little surprised when people talk about active and passive management as if it’s an either/or question. At Vanguard, we believe the right conjunction¹ is not or. It’s and. Both active and passive strategies have earned spots in your clients’ portfolios.
Enemies of investment success
I will not make you wait for my thesis, advisors: Intuition and nostalgia are enemies of your clients’ investment success—and, therefore, of your business success. For your mutual benefit, you should shun investment choices based on intuition and nostalgia and look for opportunities to replace them with sound investment habits. Intuitively, we believe we get better products and services when we pay more for them.
Are You Paying $106,000 For Coffee?
What's harder than getting your clients who are reluctant to save to have the discipline to regularly contribute to their investment portfolio? Try explaining the benefits of compounding and the potential benefits of delayed gratification to this same group of low savers. It seems that many of my five children enjoy drinking coffee. Not just any old cup of joe, mind you, but a premium cup of java from one of those famous coffee chains.
Are You Paying $106,000 for Coffee?
What's harder than getting your clients who are reluctant to save to have the discipline to regularly contribute to their investment portfolio? Try explaining the benefits of compounding and the potential benefits of delayed gratification to this same group of low savers. It seems that many of my five children enjoy drinking coffee. Not just any old cup of joe, mind you, but a premium cup of java from one of those famous coffee chains.
Sponsored Content: Are You Paying $106,000 For Coffee?
What’s harder than getting your clients who are reluctant to save to have the discipline to regularly contribute to their investment portfolio? Try explaining the benefits of compounding and the potential benefits of delayed gratification to this same group of low savers. It seems that many of my five children enjoy drinking coffee. Not just any old cup of joe, mind you, but a premium cup of java from one of those famous coffee chains.
Vanguard: Are You Paying $106,000 For Coffee?
[This ETF Industry Perspective is sponsored by Vanguard.] What’s harder than getting your clients who are reluctant to save to have the discipline to regularly contribute to their investment portfolio? Try explaining the benefits of compounding and the potential benefits of delayed gratification to this same group of low savers. It seems that many of my five children enjoy drinking coffee. Not just any old cup of joe, mind you, but a premium cup of java from one of those famous coffee chains.
Does your active manager pass the factors test?
With the recent implementation of parts of the U.S. Department of Labor’s fiduciary rule, advisors are sharpening their pencils when it comes to performing due diligence on equity and fixed income holdings in their clients’ portfolios. The good news is that advances in financial research and technology have made it much easier to dissect individual funds, or even a combination of funds, in different ways (sector, country, factor, etc.).
Do clients know you have a blockbuster practice? Show them your value
The summer blockbuster has been an integral part of the season since Jaws. But these days, it seems a blockbuster’s value rests in its ability to draw in fans for a multifilm experience.
Vanguard and low costs: Not about headlines or halos
The news media have proclaimed another ETF “fee war.” Providers are “slashing prices” and waging an “arms race.” I get it, and it makes for a compelling story. In the battle for ETF market share, some firms are tactically pricing selected funds to grab a headline with a loss leader or seeking a low-cost halo that they hope will shine on their other products. At Vanguard, low costs are not about headlines or halos.
$106,000 for coffee? Let’s talk compounding
Most of my five children enjoy drinking coffee. Not just any old cup of joe, mind you, but a premium cup of java from one of the popular coffee chains. When they place their orders, it sounds like they’re speaking in a foreign language. These cups of fancy coffee can cost upward of $5 or more. Meanwhile, I calculate my standard cup of home-brewed coffee at about 10 cents.
Risk appetite awakens
The U.S. stock market, as measured by the MSCI US Broad Market Index returned 12.7% in 2016, with a powerful rally in the final weeks. Animal spirits seemed to be running wild. As expected, fund cash flows followed suit toward the end of the year.
Vanguard Blog for Advisors
While the title may raise a few eyebrows given the equity market’s rocky start to 2016, its inspiration is Glenn Frey, the legendary singer-songwriter for the Eagles, who passed away on January 18, 2016. “Take it Easy,” cowritten by Frey, was the Eagles’ first single and one of their biggest hits.
High-quality bonds-The Rodney Dangerfield of investments
Oh when I was a kid, I got no respect. I played hide and seek. They wouldn’t even look for me. For a number of years I’ve been having conversations with investors about portfolio construction. The specific focus of interest is often what we at Vanguard think about the inclusion of various asset (or sub-asset) classes in portfolios. Whether it’s REITs, commodities, hedge funds, you name it, I’ve had discussions about it. The common thread is that they were all looking for diversification.
Current environment perfect for an advice bull market
One of the most important ways financial advisors can add value is to prepare clients for the constant change and uncertainty of the markets. As the U.S. stock market continues near record territory and the memory of the global financial crisis fades further into history, now is an opportune time to help clients prepare for the proverbial rainy day.
Who would have guessed?
Since the U.S. stock market hit bottom on March 9, 2009, during the Great Financial Crisis (GFC), the S&P 500 Index had risen a stunning 248% as of the first quarter of this year. In little more than six years, the present bull market has broken several records and surpassed history’s larger bull markets, reaching its current third-place rank among the top 10.
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