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Sebi bans investment advisors from providing free trials

Sebi bans investment advisors from providing free trials

Finance
NEW DELHI: The Securities and Exchange Board of India on Friday announced measures to strengthen the conduct of investment advisors (IA). The market regulator restricts financial advisers to provide a free trial. Sebi said that investment advice can be given after completing risk profiling of the client and ensuring the suitability of the product. “It has come to the notice that investment advisors are providing advice on free trial basis without considering the risk profile of the client. Hence the IAs shall not provide free trial for any products/services to prospective clients. Further, IAs shall not accept part payments (where some part of the fee is paid in advance) for any product/service,” Sebi said. The market watchdog added that risk profiling of the client is essential to provide
Some advisors look beyond clients’ assets when giving investment advice

Some advisors look beyond clients’ assets when giving investment advice

Finance
Ariel Skelley | DigitalVision | Getty ImagesFor some financial advisors, the person behind the assets is the key to providing the best investment advice possible.That is, awareness of the nuanced differences that distinguish clients helps those advisors construct investment portfolios based on more than, say, a person's age and how long until they need the money."We don't use one-size-fits-all model portfolios or dictate a generic risk tolerance," said certified financial planner Victoria Trumbower, managing member of Trumbower Financial Advisors in Bethesda, Maryland. Trumbower Financial ranked No. 22 on the CNBC FA 100 list of top financial advisors for 2019."We develop unique investment policies and design portfolios for each client," Trumbower also said. "There is a consistent app...
What top advisors see on the horizon for markets in 2020

What top advisors see on the horizon for markets in 2020

Finance
PeskyMonkey | iStock | Getty ImagesThe bull market in U.S. stocks rolls on.From the trade war between the U.S. and China and the slowdown in global economic growth, to Britain's messy exit from the European Union and the potential impeachment of President Trump, nothing has dampened the enthusiasm for stocks.The American economy remains in the midst of the longest economic expansion on record and the longest — if not strongest — bull market in stocks. Despite some concerns about higher volatility from a range of potential factors, registered investment advisors expect 2020 could be another good year for both the economy and the stock market."The cycle has been long but the economy has also been slower than in past cycles and without the big imbalances we've seen previously," said Alan Cohn
Advisors hire next-generation talent to thrive. Here’s how some practices have already done it

Advisors hire next-generation talent to thrive. Here’s how some practices have already done it

Finance
Jordan Siemens | Getty ImagesWhen Tara Unverzagt started her own financial planning firm, South Bay Financial Partners, in 2014, she already had a head start.That's because Unverzagt's mother, Janet Tussing — one of the first female certified financial planners — was retiring and passed along her book of business.Those clients ranged from 70 to 95 years old, while Unverzagt, 56, embraced clients in her own generation, as well.The owner of the new Torrance, California-based firm also identified another demographic she wanted to work with: 20- to 35-year-olds.That was because, as Unverzagt's own children were growing up and going to college, and she found their friends were not raised with adequate financial know-how. Many did not know the financial basics, such as how credit cards or budget
Clients’ health-care spending gets closer look from advisors as costs squeeze budgets

Clients’ health-care spending gets closer look from advisors as costs squeeze budgets

Finance
Find yourself struggling to manage your health-care costs in retirement? You're not alone.As the cost of health care continues climbing faster than the rate of inflation and an aging population is living longer, many financial advisors are focused on the line item in their retired clients' budgets more than ever."It's a cost we see that's ever-present and it's gone way up over time," said certified financial planner Kelly Wright, director of financial planning for Columbia, Maryland-based Pinnacle Advisory Group. Pinnacle ranked No. 80 on the CNBC FA 100 list of top advisor firms for 2019.The ability to pay for health-care needs is one of the most critical issues of retirement.Hero Images | Getty ImagesThe U.S. spent about $ 3.5 trillion on health care in 2017, or about $ 11,000 per person...