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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...
Mumbai Police, RBI administrator discuss auctioning of HDIL promoters’ assets

Mumbai Police, RBI administrator discuss auctioning of HDIL promoters’ assets

Finance
MUMBAI: The Economic Offences Wing of Mumbai Police is keen to explore the possibility of auctioning at least 18 assets of ‘depreciating value’ seized from HDIL promoters arrested in connection with Punjab & Maharashtra Cooperative Bank fraud case. The city police recently discussed the matter with JB Bhoria, the Reserve Bank of India-appointed administrator of the bank, saying the proceeds raised from the auctions could be infused in the bank and be made available to the beleaguered depositors on a pro rata basis, at least two sources told ET. The move will help provide quick relief to the depositors even as the probe into alleged criminal conspiracy between some officials of PMC Bank and Housing Development Infrastructure Ltd (HDIL) promoters Rakesh and son Sarang Wadhawan is underw
Dynamic bond funds with high-quality, long-duration assets likely to do well, says Dhawal Dalal of Edelweiss MF

Dynamic bond funds with high-quality, long-duration assets likely to do well, says Dhawal Dalal of Edelweiss MF

Finance
"It will be prudent to check with the fund manager and his or her views on the bond market before investing and ensure that they are in alignment with investor’s own understanding," says Dhawal Dalal, CIO-Fixed Income, Edelweiss Mutual Fund in an interview to ETmutualfunds.com .After a bad patch in the last two years, dynamic bond funds are back in focus. Many mutual fund advisors are recommending these schemes to their clients. Are they the best choice at this point? Yields of Indian Government Bonds (IGBs) and longer-dated AAA-rated PSU/PFI bonds have been trending lower since March 2019 as the Reserve Bank of India switched its focus from containing inflation to supporting economic growth. To address slowing economic growth, the RBI has lowered the repo rate by 75 basis points to 5.75%
Bianca Gascoigne squeezes assets into saucy lace-up corset top

Bianca Gascoigne squeezes assets into saucy lace-up corset top

Entertainment
The former Love Island star has had a busy few days, with two fashionable events to attend back-to-back. Bianca Gascoigne headed to Dublin to attend a VIP launch, before zipping back to the UK for an event at All Star Bowling in Stratford, east London. Luckily for her fans, the 32-year-old paused to take outfit shots for both, showing off her sensational curves in two different looks. While in Dublin, she got into the spirit of the Emerald Isle and donned a plunging green evening gown. Complete with a fitted waistline and sequin embellishments, she no doubt made an impression as she sipped on prosecco and mingled at the event. Bianca, who is the adopted daughter of former England footballer Paul Gascoigne, opted for a more laid-back look when she hit the bowli...
I-T department to share details of assets, accounts of loan defaulters with banks: CBDT

I-T department to share details of assets, accounts of loan defaulters with banks: CBDT

Finance
Income tax authorities will share details of assets of borrowers and their guarantors with public sector banks in case of loan defaults. The move is aimed at preventing promoters from siphoning off assets that are not disclosed to banks and comes close on the heels of the income tax department and goods and services tax authorities deciding to share details about taxpayers and defaulters with each other. Decision to share details to banks comes in the backdrop of borrowers not disclosing complete assets to lenders to safeguard them being party of any recovery proceedings But, banks will also have to do their bit for the department. Banks will need to furnish no objection certificate from jurisdictional Commissioner of the loan defaulter before appropriation of the surplus amount recovered ...