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Articles by Bernice Napach
Beyond the notetaker: Where financial advisors should take AI next
Beyond the notetaker: Where financial advisors should take AI next 13:31 Summary AI in wealth management is evolving beyond automated notetaking into integrated platform "systems of action" and multi-agent workflows. By unifying structured portfolio metrics with qualitative CRM data, AI helps financial advisors automate pre-meeting preparation, personalize communications, streamline research and trigger follow-up tasks directly within custodians and core systems.
How to Find a Financial Advisor
Unless you’re a financial whiz with time to spend managing your money and assets, you might want some guidance on saving for a down payment or investing for your kid’s college education or your own retirement. That’s where a financial advisor can help. Finding the right advisor to fit your needs, however, is not so easy. There are about 200,000 to choose from.
LETTER: Vote No on South Orange Water Privatization Plan
A referendum is on the November 5 ballot in South Orange, asking residents to vote “yes” or “no” to allow South Orange Village to negotiate the sale of its water utility to New Jersey American Water. Read more here. Dear Neighbors, If you haven’t yet voted on the referendum to privatize South Orange’s water system, which is on this year’s election ballot, I recommend you consider voting No for a number of reasons: The vote allows the Council to negotiate the sale with NJAW.
The Great Wealth Transfer, AI and technology's impact on RIA practices
The Great Wealth Transfer, AI and technology's impact on RIA practices 7:18 Approximately $70 trillion will be inherited by future generations in the next 21 years in the Great Wealth Transfer, according to Cerulli Associates. Advisors are well aware about this potential massive shift, but AdvisorEngine CEO Rich Cancro and Nitrogen CEO Dan Zitting said many are unprepared for this massive shift. “The core thing to do is to make the next generation a client,” Cancro said.
Best Robo Advisors for 2024
Picking the right stocks and bonds for your investment portfolio can be difficult and complicated. , but they typically work with clients who have hundreds of thousands of dollars and charge hefty fees. Over the past decade a new breed of investing apps, known as robo advisors, has grown wildly popular by helping to fill this knowledge gap. Robos usually start by asking you to fill out a questionnaire about your age, willingness to take risk and financial goals.
Why your wealth management practice needs roles-based data
Why your wealth management practice needs roles-based data 5:51 Collecting and analyzing the right kinds of data can make a huge difference in the growth of your RIA firm, but many firms lack a clear data strategy. The quality of their data may be questionable, their data sources overlapping and too few or too many people in the organization may have access to the data they need to fulfill their role in the firm.
What Is a Backdoor Roth IRA?
A Roth IRA is a great way to save for retirement. But they are closed off to high earners—unless you use the back door. are retirement savings vehicles with a number of advantages over traditional individual retirement accounts, or IRAs. The biggest: You contribute after-tax dollars, but then your grow tax free and you can also withdraw them tax-free in retirement. Roth IRAs come with a disadvantage, however: They aren’t technically open to high-income workers.
Opinion: What financial advisors need to know about the new DOL Retirement Security Rule
Beginning September 23, 2024, financial advisors and their firms must comply with a new, stricter federal rule for managing clients’ retirement assets. The Retirement Security Rule from the Department of Labor imposes a fiduciary standard on certain circumstances for retirement advice where there was none before. Under the rule, a recommendation for a one-time rollover of 401(k) assets into an IRA or an annuity will be subject to the ERISA fiduciary standard.
How to Invest in the S&P 500
If you’re new to investing or just want a portfolio built around a diversified, core holding that covers most of the U.S. stock market, you don’t have to look any further than an S&P 500 index fund. The , short for Standard & Poor’s 500 index, is one of the most widely traded and talked about stock indexes in the world.
How to Build an Emergency Fund
Everyone needs an emergency fund—and today it’s more important than ever. No matter what your income, there will probably come a time when you’ll need money fast to deal with an unexpected mishap, such as a hospital bill, boiler that suddenly stops working or a surprise job layoff. Without such savings, you would likely have to borrow from your credit card or take out a loan, which both charge interest, unless you could borrow from family or a friend.
Best Robo Advisors for 2024
Picking the right stocks and bonds for your investment portfolio can be difficult and complicated. , but they typically work with clients who have hundreds of thousands of dollars and charge hefty fees. Over the past decade a new breed of investing apps, known as robo advisors, has grown wildly popular by helping to fill this knowledge gap. Robos usually start by asking you to fill out a questionnaire about your age, willingness to take risk and financial goals.
How financial advisors can meet client demands for ESG engagement
When a client asks for investments that score high on environmental, social and governance (ESG) metrics, how can you align them with your client’s values, such as addressing climate change and social and economic inequities?
Is a Financial Advisor Worth It?
Managing your finances well takes some time, energy and knowledge—and not everyone wants to take it on. Financial advisors promise to do this for you. But, with a dizzying array of fees, it can be difficult to figure out when they are really worth the cost. While a lot depends on you and your own personal needs, there are some key guidelines that can help you make an informed decision.
How to do a backdoor Roth IRA conversion, plus what is a mega backdoor Roth IRA and is the backdoor Roth going away? These strategy is a way for high-income earners to take advantage of the tax benefits of the Roth IRA. - Buy Side from WSJ
A Roth IRA is a great way to save for retirement. But they are closed off to high earners—unless you use the back door. Roth IRAs are retirement savings vehicles with a number of advantages over traditional individual retirement accounts, or IRAs. The biggest: You contribute after-tax dollars, but then your savings grow tax free and you can also withdraw them tax-free in retirement. Roth IRAs come with a disadvantage, however: They aren’t technically open to high-income workers.
How to Find a Financial Advisor
Unless you’re a financial whiz with time to spend managing your money and assets, you might want some guidance on saving for a down payment or investing for your kid’s college education or your own retirement. That’s where a financial advisor can help. Finding the right advisor to fit your needs, however, is not so easy. There are about 200,000 to choose from.
Fidelity, BlackRock Plan New Crypto-Related ETFs
The SEC’s rejection of the Fidelity spot Bitcoin ETF, like previous agency rejections of spot Bitcoin ETFs, was based on concerns that the ETF’s design could not prevent potential fraud or manipulation and could therefore pose a threat to investors and the public interest. A week earlier the agency rejected SkyBridge Capital’s application to trade a spot Bitcoin ETF.
Beware of VIX ETFs and ETNs
What You Need to Know They are speculative trading vehicles that usually lose money if held too long, according to ETP experts. VIX ETPs are based on futures contracts tracking the Cboe Volatility Index (VIX). Morningstar's Ben Johnson says VIX-linked ETPs have destroyed $12.4 billion of capital in nearly 12 years.
How 10 Advisors Are Handling Market Volatility in 2022: Advisors' Advice
When financial markets are as volatile as they are now, advisors can help calm investors’ fears triggered by the steep declines in stock prices, rising yields in the bond market and surging inflation. Despite Thursday’s rebound in stock prices, the Nasdaq is still trading in correction territory, the S&P 500 is down about 8% below its Jan. 4 peak and the 10-year Treasury yield is at or near 1.8%, about 30 basis points higher than a month ago though below its latest peak.
Does January's Stock Slide Portend a Down Year?
What You Need to Know DataTrek co-founder Nicholas Colas provides some historical food for thought. Much will depend on whether Fed policy pushes the economy into a recession. The Fed is expected to raise rates three or four times this year in an effort to reduce inflation. For the U.S. stock market, January 2022 is turning out to be the second worst-performing January in 42 years.
January Stock Selloff Is ‘Glaring’: Schwab's Sonders
What You Need to Know Sonders expects the Fed to take note of the market's weakness and economy's decline. The Fed is expected to start hiking rates in March and start shrinking its balance sheet later. A shift in Fed policy could add to volatility in the stock market, Sonders says. January’s stock market decline is “glaring,” and the month isn’t over yet, says Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., in her latest market note.
Bob Doll to Co-Manage 5 New Crossmark Mutual Funds
What You Need to Know Doll will co-manage three large-cap, one small-cap and one equity neutral fund. All five funds are actively managed equity funds; all use exclusionary screens to align with investor values. Operating expenses range from 0.65% to 2.55% depending on share class and A shares carry a 5.75% load. Bob Doll, the chief investment officer of faith-based Crossmark Global Investments, is now also the co-portfolio manager of five new actively managed equity mutual funds.
Stick With Quality Stocks in This Downturn: Strategists
Goldman strategists are not abandoning their base case for the S&P to end the year near 5,100, which is supported by an 8% rise in earnings per share. They acknowledge, however, that if corporate profits fall and the consensus EPS forecast for the S&P 500 declines from $224 in 2022 while real yields remain unchanged and the gap between real and nominal Treasury yields are unchanged, the implied value of the index could drop to around 3,914.
TIAA Adds Annuity Option for 401(k) Plans
What You Need to Know The TIAA Secure Income Account is overseen by Nuveen, TIAA's $1.2 trillion asset management subsidiary. The account is designed as an allocation within managed accounts or custom target-date portfolios. Employees enrolled in the account can take it with them when they retire and receive guaranteed income for life. TIAA, a provider of workplace-based retirement plans, has added a deferred fixed annuity option for corporate 401(k) plans.
DFA Now the Biggest Active ETF Asset Manager
DFA has long been a favorite asset manager for financial advisors, offering disciplined but flexible long-term strategies based on the ideas that small companies outperform large, value companies outperform growth and profitable companies outperform those less profitable.
Fidelity Readies the First Retail Direct Indexing Product
What You Need to Know The minimum investment for Fidelity Managed FidFolios is $5,000; the fee is 0.40%. Managed FidFolios will initially offer three strategies: large-cap index, international index and environmental focus. The product is in pilot but is expected to launch in the coming months. Direct indexing is going mainstream, with Fidelity Investments leading the way.
Mutual Funds vs. ETFs: Which Are Better for Retirement Portfolios?
Related: 14 ETF Tax Facts to Know Although the tax benefits of exchange-traded funds are not needed in most retirement accounts because their assets grow tax-free, investors could be better off holding index ETFs rather than a combination of index and active mutual funds in those accounts.
Vanguard to Launch Its First Impact Fund
What You Need to Know The Vanguard Baillie Gifford Global Positive Impact Stock Fund will be an active sub-advised equity fund. It will be formed from the Baillie Gifford Positive Change Equities Fund after those investors approve the change. The new fund will be Vanguard's first impact fund and second active ESG fund; its expected fee is 0.59%.
These 10 ETFs Gained the Most Assets in 2021: ETFGI
U.S. ETF assets and net inflows soared in 2021, according to ETFGI, a global independent research and consulting firm covering exchange-traded funds and products. A record net $919.78 billion flowed into U.S. ETFs and ETPs last year, more than double the prior record set in 2020, lifting total assets to $7.21 trillion, up almost 32% from a year ago. Passive index funds collected 89% of the net new flows for 2021. Those 12 months capped 28 consecutive months of consecutive ETF/ETP inflows.
Why Value Stocks Could Beat Growth Stocks in 2022 and Beyond
What You Need to Know Research Affiliates and Vanguard strategists think so, due to rising inflation and interest rates. But rising inflation hasn't yet pushed bond yields above key levels. The overvaluation of growth stocks is another key factor.
Wealth Managers: Let Personalization be Your Guide
Wealth managers have always segmented their client base to at least some extent. Most firms divide prospects and clients into basic categories such as retiree, up-and-comer, college saver, etc. Those categories fall far short of what’s needed today.
Here's What's Ahead for Active ETFs in 2022: Cerulli
What You Need to Know Fully transparent active ETFs are the preferred structure for ETF issuers, says Cerulli Associates. Asset managers could potentially issue ETFs as a new mutual fund class once Vanguard's dual-class patent expires. More ETF issuers are interested in sustainable and other types of active ETFs than advisors, according to Cerulli.
Cathie Wood Hits Back at Critics, Sticks to Convictions
What You Need to Know Wood stays focused on the promise of disruptive technologies and the opportunities they provide for investors. She rejects criticism that Ark doesn't understand valuation and says her critics don't understand technology. Financial advisor Bill Gunderson says rising interest rates are hurting the type of stocks that Ark ETFs own. Ark Investment Management’s active ETFs had a miserable 2021, and they’re continuing their slump in the first trading days of this year.
Standard Asset Allocation Models Are Wrong: Dalbar
Growth Assets vs. Preservative Assets In its report, Dalbar differentiates between growth assets, which are stocks, and preservative or protective assets, which include Treasury bills, notes and bonds; corporate bonds, money markets, CDs and annuities. Prudent Asset Allocation uses protective assets, which are more predictable than growth assets, to meet the cash needs of investors while letting growth assets appreciate at their maximum rates.
Value Funds' 2021 Rebound Was Just a Blip: Morningstar
By the second half of 2021, value funds performed more or less in line with growth funds as investors grew concerned about rising inflation, the more infectious omicron variant and pending Federal Reserve rate increases. Still, by year-end 2021, small-cap value funds had surged almost 32% compared with 11% for small-cap growth funds, and mid-cap value funds soared 29% compared to 13% for mid-cap growth funds. Both types of value funds outperformed the S&P 500, which gained 27%.
Veteran Equity Strategist Expects a ‘Cathartic Upchuck’ in 2022
What You Need to Know Wells Fargo's Chris Harvey says Fed tightening and multiples compression could cause 10% correction in S&P 500. Real rates rising and tech and high growth rolling over are a big reasons for the drop, forecast for the first half. He did not make a forecast for the second half of 2022 but says there are many concerns on the horizon.
3 Top ETF Trends for 2022
What You Need to Know ETF and market experts Josh Brown, Dave Nadig, Eric Balchunas and Liz Young offer their outlooks. 2022 could be the year large-cap value makes a comeback like small-cap value did in 2021. It could also be host to crazier and wilder ETF products, Bloomberg's Balchunas says.
Cathie Wood's Ark Innovation ETF (ARKK) Hits 52-Week Low
What You Need to Know In Thursday afternoon trading, all six active Ark ETFs were down more than the Nasdaq and S&P 500. Ark ETFs are highly concentrated and reflect several themes of disruptive technologies. Fund manager Ryan Jacob says portfolio managers can pick the wrong companies within the right themes. Cathie Wood’s Ark Invest active ETFs, which performed poorly in 2021, are continuing to lose money in the first trading days of 2022.
Why Rachel Robasciotti Works to 'Mobilize Investors'
In mass incarceration, we cut out the racial justice impact data set, which basically doesn’t just say “Hey, finance, stop investing in private prisons.” It identifies which companies are actually involved in perpetuating the system of mass incarceration. So we’re talking about everything from the money bail system to private prisons directly as well as their major financiers and suppliers.
Vanguard Outage Points to Broader Customer Service Woes
What You Need to Know Vanguard's lack of communication during the partial outage in December drew criticism. Customer service challenges have been a recurring theme in Vanguard's history, a Morningstar analyst says. But customers including Bill Winterberg are still drawn to the firm's unique shared ownership structure.
Bob Doll's 10 Predictions for 2022
2022 will be a challenging year for both stock and bond investors, according to Bob Doll, chief investment officer at Crossmark Global Investments, a faith-based investment firm. “While economic and earnings growth are likely to be good, a ‘too-high’ inflation backdrop and rising real interest rates suggest less favorable and more volatile conditions for investors than have prevailed since the pandemic lows,” writes Doll in his annual “10 Predictions” forecast.
Vanguard's Website Problems Mostly Fixed, but Won't Likely Be Forgotten
Vanguard has attributed the problem to a “third-party service provider interruption” that made “certain statements, confirmations, and tax forms” unavailable on its website and mobile app. It has not identified the provider.
Vanguard's Ongoing Website Issues May Be Its 'Worst Tech Screw-up' Ever: Source
What You Need to Know Year-end is a crucial time for investors to know the details of their accounts for purposes of RMDs, tax losses, etc. Some Vanguard investors are unable to access statements, trade confirmations and tax forms. Callers can stay on hold or get a call back, but some calls aren't being returned. Problems with Vanguard’s website, which started as early as Dec.
Goldman Sachs: Build Back Better Won't Pass
Inflation Expectations Despite the downgrade in their GDP forecast, Goldman economists, led by Chief Economist Jan Hatzius, expect inflation will continue to rise next year, but at a much slower pace. They forecast core PCE (personal consumption expenditures), which excludes volatile food and energy prices, to end 2022 at 2.5%, down from 4.7% currently, and core CPI (consumer price index) to peak at over 6% and end 2022 at 3.5%.
Vanguard Clients Report Website Outages Since Christmas
Vanguard investors have lost access to account statements, transaction confirmations and tax and other forms for several days “due to a third-party service provider,” according to a message the firm sent to clients, with some clients taking to social media to complain.
Why the Bull Market Keeps Running
In other words, the share gains have been driven by improving fundamentals. Even inflation — public enemy No. 1 in the fixed income market — has mostly been a tail wind for large-cap companies. Thanks to the ability to pass on higher costs to end users, profit margin, a measure of how much a business can keep its revenue as income, has widened to a record and according to analysts is expected to expand in the following two years.
Sustainable Investing: The Outlook for 2022
What You Need to Know Sustainable investing is an integral part of achieving a net zero world. SEC could promulgate new rules on disclosures by asset managers ad public companies in 2022. Also, global sustainability standards could be forthcoming.
2022 ETF Outlook: Expect Hundreds of Launches, Mostly Active Funds
What You Need to Know 2022 is expected to be another record-setting year for launches and fund flows. Actively managed ETF launches are expected to overpower passive ETF debuts. RIAs are seen introducing their own ETFs, based on their proprietary investment models. 2022 is expected to be another boffo year for U.S. ETFs, with even more launches and greater fund flows than 2021, a record-setting year. Four hundred forty-five new ETFs launched in 2021 as of Dec.
What Bond Strategists Recommend Now: 2022 Outlook
What You Need to Know The Fed is expected to raise rates three times in 2022 and end its asset purchases in Q1. The trajectory of the coronavirus pandemic and fate of President Biden's economic plan could upend those expectations. Strategists recommend that investors stay in the short end of the yield curve and stick with high-quality securities.
Capital Group Sets Fees for Its First ETFs
What You Need to Know The competitive fees position Capital Group to attract more assets when its ETFs launch. When Capital Group joins the ranks of mutual fund companies that have entered the ETF market early next year, it will be launching a suite of active ETFs that are very competitively priced.
Biden Extends Student-Loan Payment Pause After Virus Surges
What You Need to Know The moratorium on payments, interest and collections, due to expire on Jan. 31, was extended through May 1. The Education Department said the extension will help 41 million people save $5 billion per month. Sens. Warren and Schumer and others still want Biden to cancel $50,000 for each federal student loan borrower.
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